Lithium rollercoaster stock IGO’s new-ish boss Ivan Vella has finally laid down the law, promising a tighter and more disciplined ship than the one that blew up more than $1 billion on a dud nickel deal two years ago.

Under Vella’s framework, future acquisitions will compete for funds with IGO’s flagship lithium and nickel projects Greenbushes and Nova, making his maiden strategy as much about what the miner will not do under his watch, as what it will do.