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IGO Limited (ASX:IGO)

ALERT: Price-sensitive ASX Announcement for IGO
Current share price for IGO : $6.950 -1.59 (-18.62%)+
Announcement
Release
24 Apr 2026 8:14AM
Price at Release
$8.540
Full Release
download
Summary
The March 2026 Quarterly Presentation for IGO Limited highlighted a reduction in production guidance for FY26 due to operational challenges, particularly at Greenbushes. The unit cash cost guidance and capex were both adjusted, reflecting changes in operational conditions. Despite challenges, Nova operation demonstrated strong performance with increased production and reduced costs. Safety improvements were significant at the Nova site, while lithium operations at Kwinana produced at 51% capacity. Financially, the group reported an underlying EBITDA of $119M and a free cash flow of $36M, indicating resilience amidst operational hurdles.
Key Points
  • Production guidance for FY26 was reduced to 1,375-1,425kt due to year-to-date performance and expectations for the CGP3 ramp-up.
  • Unit cash cost guidance increased to $380-420/t from the previous $310-360/t.
  • Capex guidance was lowered from $575-675M to $400-450M.
  • Greenbushes experienced operational challenges but maintained focus on safety and performance improvements.
  • Lithium hydroxide production reached 51% of nameplate capacity with an EBITDA loss of $8M.
  • Nova operation showed strong performance with increased nickel and copper production and reduced cash costs.
  • Safety improvements were noted at Nova with zero reportable injuries in March.
  • Group underlying EBITDA for the quarter was $119M with a free cash flow of $36M.
  • The average realised spodumene price nearly doubled to US$1,668/t.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.