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IAMGOLD Corp T.IMG

Alternate Symbol(s):  IAG

IAMGOLD Corporation is a Canada-based intermediate gold producer and developer. The Company’s principal activities are the exploration, development and operation of gold mining properties in North America and West Africa. Its projects include Côté Gold, Essakane, and Westwood. The Côté Gold Mine is a large-scale, generational open pit operation located between Sudbury and Timmins in central Ontario. The Essakane project is West Africa’s 6th largest gold mine located in Burkina Faso (West Africa) approximately 330 kilometers northeast of the capital, Ouagadougou. The Westwood Complex includes the high-grade underground mine and satellite open pits located near Rouyn-Noranda in Quebec. The Company also owns a 100% interest in the Nelligan Gold Project, located 60Km southwest of Chibougamau, Quebec, Canada.


TSX:IMG - Post by User

Post by Luke555on Aug 05, 2021 9:49am
183 Views
Post# 33654087

TIME TO CLEAN HOUSE!

TIME TO CLEAN HOUSE!It’s time for IMG/IAG to clean house. The Operating Results for the Second Quarter and on Production and Costs for 2021 and Cost estimates for the Cote Gold Project are out and we have another disastrous quarterly report with no future possibility of making a profit. Their operating business model is in a complete shambles. The Cote Gold Construction Project is already showing a 25 % increase in estimated construction costs! The projected construction completion date is over 2 years away and the commercial production date is estimated in late 2023…

This management group reminds me of a parable where the employees were petrified of their leaders and could not tell their stubborn, aging, old geezers that their best days were behind them. Our worst nightmare is that some of these executives will hang around till their 75 years old. The current CEO has been on the payroll since 2007 and he is one of the primary architects of the historic low share price. This executive group has done absolutely nothing for the shareholders.  I strongly recommend that they resign in mass for the benefit of the company and its shareholders!


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