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IAMGOLD Corp T.IMG

Alternate Symbol(s):  IAG

IAMGOLD Corporation is a Canada-based intermediate gold producer and developer. Its principal activities are the exploration, development, and operation of gold mining properties in North America and West Africa. Its projects include Essakane, Westwood and Cote Gold. The Essakane project is in north-eastern Burkina Faso, West Africa. It straddles the boundary of the Oudalan and Seno provinces in the Sahel region of Burkina Faso and is approximately 330 kilometers (km) northeast of the capital, Ouagadougou. The Westwood Project is located on the Doyon property, 2.5 km east of the former Doyon Gold Mine in Bousquet Township. The Cote Gold Project is in the Chester and Yeo Townships, District of Sudbury, in northeastern Ontario. It owns a 100% interest in the Nelligan Gold Project, located 60Km southwest of Chibougamau. It holds claims of Nelligan, as well as other earlier stage exploration properties in Northern Quebec. It also owns Rich Lake and Lac a l’Eau Jaune (gold) properties.


TSX:IMG - Post by User

Bullboard Posts
Comment by vilaon Feb 20, 2013 12:13pm
126 Views
Post# 21016725

RE: RE: RE: RE: what happened to this plan by IAM

RE: RE: RE: RE: what happened to this plan by IAM

2013 CAPITAL EXPENDITURE FORECAST

The Company previously announced that it was reducing its 2013 capital expenditure forecast due mainly to the delayed approval of the Sadiola sulphide project and the deferral of capital spending for the Niobec expansion. The timing of capital spending related to the Niobec expansion project will be aligned with the advancement of permitting and the outcomes derived from the completion of the feasibility study in the third quarter of 2013.

The Company is providing 2013 capital expenditure forecasts by operation upon completing a review of the key variables, including economic assumptions, incorporated in the life of mine plans and feasibility studies. As such, the Company`s 2013 capital spending forecasts for Westwood and Essakane are $100 million and $300 million, respectively. The forecast for Rosebel will be provided upon completion of the feasibility study, expected by the end of the first quarter 2013, and the Sadiola sulphide project is undergoing a strategy review. The Company is forecasting $80 million for capital spending at Niobec in 2013 for mine development, sustaining capital and the expansion feasibility study ($20 million).

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