Business
Why the IGO (ASX:IGO) share price is dropping lower
The IGO Ltd (ASX: IGO) share price has come under pressure on Friday and looks set to end the week in the red.
In afternoon trade the gold, lithium, and nickel producer’s shares are down approximately 1% to $7.50.
Despite this, the IGO share price is still up over 60% since the start of December.
Why is the IGO share price under pressure?
Investors have been selling the company’s shares on Friday despite the release of a positive announcement.
That announcement was in relation to the recently announced transaction with Tianqi Lithium and the company’s ongoing strategic review of its 30% ownership of the Tropicana Gold Operation.
In respect to the Tianqi Lithium joint venture, the company’s acquisition of an interest in a…
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