The market hasn't been happy with their recent acquisition of Sirius Recourses, don't know why, looks a good deposit, with more potential in the area.
http://www.independencegroup.com.au/IRM/Company/ShowPage.aspx/PDFs/3933-10000000/SIRIndependencetoacquireSirius
So I believe independence will have its day again, and has been oversold, nice increase in EPS (I love companies that have rising earnings per share, Buffet and Fisher love them too!). and vectorvest valuation is $10 approx.
Any company with consistent rising EPS has to be looked at, I think its the best evidence of a good business. (unless you have another one).
Of course bringing the new resource online will take some time, and could impact EPS, and nickel is unlikely to see the glory days of Poseidon.
http://en.wikipedia.org/wiki/Poseidon_bubble
But there are signs of a bit of a shortage, supposedly the Philippines mines are facing govt restrictions on export, and other large mines in Russia are subject to US sanctions, so I think IGO is worth a small purchase or at least putting in a watchlist.
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