Australia's IGO eyes worst day in 6-weeks as quarterly earnings loss widens

IGO

29/01/2025 23:36

** Shares of critical minerals company IGO  IGO.AX  fall
2.5% to A$5.02, on track for their biggest fall since Dec. 19,
if losses hold
    ** Stock fell as much as 3.5% earlier in the day hitting
lowest level since Jan. 15
    ** Company's Q2 underlying EBITDA loss widens to A$79.0
mln($49.25 mln) from a loss of A$2.9 mln in Q1
    ** Company reports an 8% drop in quarterly revenue and a 3%
fall in spodumene production from the previous quarter
    ** Stock up about 8% this year, as of last close


($1 = 1.6041 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))