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 > WILL BARRICK COME TO IMAGOLD'S RESCUE?

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Post by modulexon May 08, 2022 2:39pm

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Post# 34665522

WILL BARRICK COME TO IMAGOLD'S RESCUE?

Subject: IAMGOLD CORP. (Toronto stock exchange : IMG)

May 8, 2022

Good day Mr. Bristow,

I am letting you know that Barrick may want to look at the current demise of Iamgold and seize any opportunity.

A cash crunch is facing the viability of its so-called Ct gold project in Ontario.

Iamgold would be a good acquisition for Barrick at a logical price tag,

Iamgold Corp
Symbol	IMG
Shares Issued	478,882,984
Close 2022-05-04	C$ 2.71

The company could retain one of the following options regarding Ct:

borrow under its current untapped line of credit
issue shares
terminate or sell its Ct project
involve additional partners as stakeholders

Note: Iamgold does not deserve to remain a public company

Yours truly,

Shareholder - Iamgold Corporation

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Globe says Iamgold lowered to "sell" from "hold."

2022-05-05 08:27 ET - In the News

The Globe and Mail reports in its Thursday edition that Canaccord analyst Carey MacRury has cut Iamgold to "sell" from "hold." The Globe's David Leeder writes that Mr. MacRury cut his share target back by $1.75 to $2.75. Analysts on average target the shares at $3.98. Iamgold's better-than-anticipated first quarter results were overshadowed by a "much" higher-than-expected capital increase at its Cote Gold project in Northern Ontario. Mr. MacRury now estimates it will run short of cash in 2023. Mr. MacRury says in a note: "Management had noted with its Q4/21 results that inflationary and other cost pressures at the project were building, resulting in the projected remaining costs to completion to trend upward above the high end of the previous range. Iamgold has increased its guidance for remaining capex to completion at Cote to $1.2-billion to $1.3-billion from April 1, 2022, onwards, significantly higher than the company's previous estimate was $710-million to 760-million, from Jan 1, 2022, onwards and our estimate of $950 million. Adjusting for the $78.5 million spent in Q1, the new estimate is 90-per-cent higher at the midpoint and follows a 28-per-cent increase in capex guidance that was announced in Q2/21."

Iamgold earns $23.8-million (U.S.) in Q1

2022-05-03 18:38 ET - News Release

Ms. Maryse Belanger reports

However, preliminary cost estimates from the ongoing risk analysis at our Cote development project, coupled with the need for additional liquidity represent significant near- and mid-term challenges.

Balance Sheet