IAMGOLD Corp T.IMG

Alternate Symbol(s): IAG

Metals & Mining Gold

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.

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IAMGOLD Corp > What’s the thoughts on img. 3rd. Q

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Comment by Luke555on Oct 18, 2021 10:43pm

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RE:What’s the thoughts on img. 3rd. Q

This headline news caught my eye.

“As of September 30, the company’s cash, cash equivalents, and short term investments totaled $748.3 million”.

This is the lowest cash position we’ve seen for a while.
At the current burn rate that these executives are spending dollars, you can expect to see a gradual decrease in the cash balance – forget about the 1B dollar dream! It will have turned out to be a mirage.
One reason for the decrease in the cash position is the increase in costs for some of the newly hired executives. The overhead costs are going to skyrocket and you will see the full impact in the 4^th quarter. There’s an old saying, “You can run but you can’t hide.”
I expect the 4^th quarter results to show a more significant drop in the cash position.
The production figures appear to be within the projected production guidance for 2021. That’s good news.
The only miracle that can save them is a major increase in the gold price and a large cash flow otherwise its downhill.