Independence Group NL Gold prices boosted the stock sentiment

Gold prices boosted the stock sentiment: Independence Group NL (ASX: IGO) stock rallied over 6.4% on March 16, 2017 driven by the rising gold prices buoyed by US Federal Reserve’s interest rate hike decision. The group continued to deliver a good operational and financial performance in 1H17 as Tropicana and Long projects performed better than expected. The group’s plans of ramping up to name plate in 2017 is ongoing. The group has a A$33M exploration budget and is focusing on generative and Greenfields projects. IGO expects to enhance their exploration spend to A$50 million in FY18.Meanwhile, Orion Gold NL has become a substantial holder for the group’s securities and lately secured a JV agreement with IGO on Fraser Range Nickel-Copper Project.     

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