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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 george2010on Feb 28, 2013 7:29am
186 Views
Post# 21053267

RE: can someone explain...

RE: can someone explain...

You're thinking cash and just cash. The bond is not part of the 814 million in cash and cash equivalents.

The bond (just like money received from investors - IPO) has been invested in  trucks, equipment, a mine and reserves in the ground. Sure if the company was to liquidate today,they would pay back the bond with cash, but they would have a lot more cash from selling the the trucks, equipment, the mines, and reserves, the little goodwill the comapny has :)  etc...

Don't think of them putting out a bond and hording the cash in the bank, that's not what happened. The company is worth a lot more than that 814 million in cash. It's equity is closer to $4 billion... and that on the books at historical (not fair market) value.

Bullboard Posts