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Revenue dropped by 31% quarter-on-quarter to A$167.4 million, underlying EBITDA dropped by 52% to $62.9 million and profit after tax fell by 100% to $200,000.
However, net cash from operating activities rose by 46% to $108.1 million and underlying free cashflow doubled to $82.2 million.
Cash-on-hand jumped by 27% to $176 million after a $29 million debt repayment and $12 million dividend payment.
Both the Nova nickel mine and Tropicana gold mine in Western Australia achieved quarterly guidance.
Nova produced 6854 tonnes of nickel and 3019t of copper - lower than the June quarter but within guidance.
C1 cash costs of $2.78 per pound were above the $1.65-2/lb guidance due to lower production and lower metal prices for by-products.
IGO is expecting cash costs to improve over the remainder of the year as metal production increases.
Tropicana produced 125,100 ounces of gold, on a 100% basis, at the lower end of quarterly guidance.
All-in sustaining costs of $1040 an ounce were above full-year guidance of $890-980/oz.
Speaking on a conference call this morning, IGO managing director Peter Bradford had refined its strategy, with the company now seeking "to be a globally relevant, premium supplier of energy storage and distribution materials".
The company is focused on its organic growth options, comprising an expansion at Tropicana and underground prefeasibility study, and a PFS into a downstream nickel sulphate plant.
"The focus of the business is to try to unlock some of those organic growth opportunities which have the potential to deliver transformational growth," Bradford said.
At the same time, the company is focused on its $51 million exploration push this financial year.
"We continue to be excited by the prospectivity of the Fraser Range," Bradford said.
Bradford said the excitement of the team, fanned by the prospect of discovery, was infectious.
"Success for us looks like multiple discoveries on the Fraser Range belt," he said.
Shares in IGO rose by 0.3% to $3.97 after hitting a 52-week low of $3.90 earlier in the session.
