Two Stocks in the correction zone – Independence Group & Caltex Australia

During Q3FY17, Independence Group NL (ASX: IGO) reported revenue decline of 35% qoq at $83.9 million, impacted by lower less zinc concentrate shipments and no copper concentrate shipment from Jaguar. However, Tropicana gold sales were in line with expectations and Long continued to deliver by maintaining strong sales volume. NPAT increased to $12.3 million, led by $4.4 million before tax mark-to-market investment revaluation gains, and the non-recurrence of a A$3.9 million acquisition stamp duty tax expense in the December 2016 quarter. Further, cash flows from operating activities increased by $6.0 million to A$23.4 million, primarily due to the non-recurrence of the prior quarter’s stamp duty taxes paid; $52.5 million assessment for the Sirius Resources NL’s Nova acquisition, and a A$5.7 million payment in relation to the completed duties assessment for the 2011 acquisition of Jabiru Metals Limited’s Jaguar Operation. IGO continued to fund the Nova Project build and ramp up from existing cash reserves and cash flow from operations, with $35.6 million spent during the Quarter. As a result, there were no further debt draw-downs during the Quarter and drawn term debt remains at $200 million.   


To read the complete report CLICK HERE. To get your free report CLICK HERE







 Disclaimer DisclaimerThe advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376).The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation.Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product.The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd currently hold positions in: BHP, BKY, KCN, PDN, and RIO. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.CopyrightCopyright © 2015 Kalkine Pty Ltd ABN 34 154 808 312. No part of this website, or its content, may be reproduced in any form without the prior consent of Kalkine Pty Ltd.Kalkine is a trading name of Kalkine Pty Ltd ABN 34 154 808 312, which holds Australian Financial Services Licence No. 425376.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s