Independence Group NL
(ASX:IGO) says it’s accelerating development of the Bollinger orebody at its Nova Project, Western Australia.
The Group confirms that work has started on the Bollinger decline, and expects that early access to the orebody will deliver improved early cash flow and additional project value.
The Group’s Managing Director, Peter Bradford, says additional revenue creation has all been achieved within the initial capital cost estimate of $443 million.
Mr Bradford also says the Nova Project remains on schedule, and on budget, with the overall Project 93% complete and the processing plant 86% complete.
Independence Group reported a net loss of $78 million at 31 December 2015.
