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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 greendayyyyon Aug 21, 2023 11:24am
228 Views
Post# 35597875

Opportunities

OpportunitiesThe new IamGold CEO highlighted the following priorities for the company: (1) the successful completion of the Ct Gold Project, including production starting early in the first quarter of 2024 and the successful ramp-up into 2024; (2) continuing to operate safely and turning the corner at Essakane; (3) building and growing a strong Canadian platform, including positioning Westwood to achieve free cash flow toward the end of 2023; (4) returning to its full 70% interest in the Ct Gold project; and (5) utilizing future cash flow to optimize and have a more balanced capital structure. Despite the string of positive news, IamGold share price has fallen for nine consecutive days, its longest streak in 23 years, according to Bloomberg.
 
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