Delay in IGO's Greenbushes Mine 'Disappointing But Not Overly Material,' Jarden Research Says

MT Newswires Live11-04 11:43

Resources company IGO (ASX:IGO) reported a three-month delay in first production at Chemical Grade Plant 3 project, currently under construction at the Greenbushes Lithium Mine in Western Australia, Jarden Research said in a Nov. 1 note.

While the delay is "disappointing," Jarden said it was "not overly material" with its forecast commissioning from the September quarter of fiscal 2026 assuming an 18-month timeframe to achieve steady-state production, according to the note.

Jarden said the capital expenditure revision to $880 million was "perhaps the most vexing element of the release" due to the lack of context provided.

The investment firm raised IGO's price target to AU$8.28 from AU$8.21 while keeping its buy rating.

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