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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 iwasgoldon Apr 01, 2013 12:51pm
190 Views
Post# 21192706

RE: ...spike into the $2,500 to $3,000 price range

RE: ...spike into the $2,500 to $3,000 price range

I think this is bearish, not bullish. Firstly, the open market forces are much stronger than central banks overall. Secondly, lke most businessmen, I believe that government employees are mostly clueless and reactive, consistently acting after the horse has left the barn. One good example - Gordon Brown selling off huge chunks of Britain's gold reserves at a time when gold prices were at all-time lows. By this pattern it makes sense that Central Banks are buying now when prices are high. I think the POG is trending down and will hit $1500 before any economic catalysts come along and trigger any substantial moves up. If he farce in Cyprus did not trigger anything then clearly the buyers are on the sidelines. More people pay attention to what Soros does than governments, and Soros has been selling.  Yes, there is substantial money being created and therefore available for spending. But where is this money flowing? Into investment vehicles and investment banks and  loans to corporations, not into gold mining companies.  This is because gold miners have shown that they can't make money for investors because they can't control costs and make poor investments decisions, ie Iamgold, Kinross, Barrick etc.  The place to put money is where people like Buffet put it, into good companies with good cash flows at reasonabole prices. It sounds simple, and it is. Gold companies do not generate good cash flow at reasonable prices. What they are good at is issuing stock options to principles. Until they prove that they can generate a safe dividend at a reasonable price, they will not make a good return for the investor.

Bullboard Posts