Why the Independence Group NL share price is tracking higher

Independence Group NL (ASX: IGO) opened up 0.6% to $5.01 on February 16, with shares in the mineral exploration company steadily tracking upwards since mid-2017.

Independence Group has two key-mining operations in Western Australia with a focus on nickel, copper and zinc mining prospects.

It will be interesting to see if Independence Group can maintain its upward swing when the company hands down its half-year results on February 21 after a disappointing drop of almost 5% in share price to $4.02 at the same time last year despite first-half results coming in reasonably strong.

Independence Group’s quarterly report released in January outlined the company’s Nova and Tropicana projects are both within production and cost guidances, with Tropicana gold production significantly above pro-rata full-year guidance.

Independence is focused on continuing to strengthen its balance sheet by reducing net debt and ramping up FY18 exploration with a $50 million commitment made to the latter.

All things considered results should come in strong on February 21.

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.