Independence Group NL (IGO)

Shares / Stock Code

IGO

Stock Exchange / Sharemarket

ax

Independence Group NL (IGO) is a nickel mining and mineral exploration Company. Its key asset is the Long Nickel Mine located at Kambalda in Western Australia. IGO operates this mine through its 100% owned subsidiary, Lightning Nickel Pty Ltd (Lightning). The Company completed the acquisition of the Long Nickel Mine in September 2002 and become a nickel producer in October 2002. The Company is sourcing 168,000 tonnes of ore per anum from the Long Nickel mine. IGO is targeting the production of 9.5ktpa in 2005, by doubling the reserves to 50kt of contained nickel and development of Victor South Mine. The Company is driving strong cash flow from the the Long Nickel Mine which will fund the Company in aggressive exploration program. Independence Group NL listed on the Australian Stock Exchange on 17th January, 2002. The portfolio of its nickel projects is comprised of Duketon Joint Venture, Wiluna Joint Venture, Ravensthorpe Joint Venture, Lefroy Joint Ventures, Storbodsund Joint Venture, Musgrave BHP Billiton Joint Venture and Mt Isdell. Its key gold projects are Tropicana Joint Venture, Dalwallinu, Coomberdale-Gold, Holleton, Cobar and Empress Springs. IGO aims to create value for shareholders as well as to reduce dilution of shareholders’ interests. The Company is enjoying successful exploration and corporate growth and its goal is to acquire several metal mines in Australia and to have significant market capitalisation. The Company discovered and obtained an interest, or right to have an interest, in a range of prospective projects.

Independence Group NL History

IGO was created in May 2000 with a vision to identify high grade ore bodies in Australia, with a focus on gold and nickel. It floated on the ASX on 17 January 2002. IGO holds interest, or have a right to earn an interest, in a number of prospective projects. In September 2002, IGO completed the takeover of the Long Nickel Mine. It emerged as a nickel producer in October 2002. The Company is earning substantial cash flow from the Long Nickel Mine operation which has enabled IGO to invest in exploration together with providing support for future growth.