IAMGOLD Corp T.IMG

ROOT CAUSE OF PROBLEM AT IAMGOLD

[Luke555]

As a long-term shareholder, I’d like to share some of my thoughts about what I think is really going on at IAMGOLD. Feedback is always appreciated.

In my professional opinion, the root cause underlying the problems at IAMGOLD for many years can be traced to not hiring of the right person for the top position of the company - the President and CEO. To meet this challenge, the company has engaged the services of a head-hunter firm and apparently they are still searching the landscape for an individual with a qualified mining background and proven leadership credentials. To-date, we don’t know if they have made any progress in identifying any potential candidates? This part of the hiring process is not transparent and seems to be dragging on…The hiring of the right individual for the position of President and CEO is paramount and must be one of the company’s top priorities; the company’s future and existence depends on it.

Today, we have a financial mess on many fronts unfolding and the Interim PRESIDENT/CEO and the BOD are incapable to provide the leadership and guidance to help the company navigate these turbulent and challenging times in the mining industry. The current members of the BOD members do not have the wherewithal and experience to make the required hard decisions; just look at their track records.  It’s frustrating for the shareholders to watch IAMGOLD implode as a mining company. As already mentioned, the real missing ingredient in the organization is the selection of a dynamic leader that possesses leadership qualities including deal-making skills.

Understandably, IAMGOLD is facing some real difficult challenges, but it’s not time to jump off the cliff. The mining industry is experiencing a difficult cycle.  Most importantly shareholders, remember that the company possesses some valuable assets, proven ore reserves, a promising pipeline of exploration projects and the potential to become a 1 million ounce gold producer. As I have reiterated, in my professional opinion, I firmly believe that the company’s root problem lies with promoting unqualified leadership for the company but once this issue is resolved, the company could bounce back and become once again a profitable mining company. This won’t happen overnight but it’s certainly possible within the not too distant future.  And I emphasize, too many academic types are running the company rather than experienced mining executives. This is a recipe for failure. The company must recognize this point as the central issue undermining the success of the company and change the current hiring practice in the selection process; if not, the company will continue to lag behind its peers.  It may be too late for IAMGOLD to survive as we know the company; a buyout/merger may be the only salvation… Considering the IAMGOLD share price behavior over the past several months, do not expect a generous offer…

[RayDonovan78]

We all know that too......But if true Why if you were in the mining business for years ???? Shouldn't you have known better ?????

[someday2]

Thanks Luke Great opinion

[RayDonovan78]

Not really, its the same noise for the last year. Looking forward to the next cut & paste.

[someday2]

LOL.... Appears that adding more even at this level may still be a little premature.... Think I'll wait

[Luke555]

I'm adding at these prices...

[someday2]

I should have delayed my comment. Don't look so smart now....haha Sooooo fluid!!

[RayDonovan78]

No one has a crystal ball but in the $2.50"s there should be money to be made even with this mutt. Trader not an investment.

[smallcaptdr]

I remember Iamgold from the 1990's when I traded it and then again 2008-2013 from the low's to the highs and back to the lows and I was tempted to buy today as gold could become a safe-haven as the US heads towards a slump but not being filmiliar with their issues in management and after reading your post I decided to put this on the back burner for now because theres alot of gold stocks

[greendayyyy]

Quickly a big player who buys us even at a discount to get us out of these rotten and incompetent managers. No more future here for the small shareholders.