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IGO (ASX:IGO) share price drops 4%

The IGO Ltd (ASX:IGO) share price dropped today. The company made an announcement. 
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Jaz Harrison

Jaz is a Staff Writer for Rask. She is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Jaz invests for the long-term and doesn't sweat the small stuff. She strongly believes that empowering people with knowledge is the best way for them to take charge of their finances, which is exactly the approach she takes with her own money and investments.
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The IGO Ltd (ASX: IGO) share price dropped today. The company made an announcement.

Market update

IGO, which is an exploration and mining company, gave an update regarding its recently announced transaction with Tianqi Lithium Corporation and the company’s ongoing strategic review of its 30% ownership of the Tropicana Gold Operation.

The company confirmed today that Tianqi received approval for the transaction with IGO from its shareholders, with 99.97% voting in favour of the transaction. IGO said this was strong validation of the ‘win win’ the transaction has created for the shareholders of both companies.

IGO Managing Director and CEO Peter Bradford said: “The resounding vote of support which Tianqi has received from its shareholders further validates the value creation from this transaction for the shareholders of both companies. Tianqi and IGO continue to progress the completion workstreams and we will provide further updates to the market as the remaining conditions precedent requires to complete the transaction are progressed.”

The company also said the review of the Tropicana Operation is still ongoing.

Summary thoughts

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