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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
Post by iwasgoldon Apr 24, 2014 12:07pm
335 Views
Post# 22486595

Management or ?

Management or ?
SInce 2009 the ex-CEO of Iamgold Mr. Joseph Conway has taken Primero from $5/sh to $7. In the same period Iamgold has gone from $12 up to $21 and down to $4. This difference should be enough for shareholders of Iamgold to be beating down the gates of their company and demanding that heads roll. After all, clearly the BoD of Iamgold let go a competent leader and have not adequately replaced him. However the market cap of P is now over one billion, while IMG is at 1.4. This does raise the question of whether the market is valuing IMG fairly. IMHO it is not, because there is so little confidence in the management so the share price is oversold. Solution? New directors and management is required, unless somehow the existing crew can pull a rabbit out of a hat. And that is the dilemma we face when we think about buying, holding, or selling. Barring a miraculous rise in the price of gold, unlikely to happen, we are stuck in the doldrums. One can only hope an amazing HIGH-GRADE (capitalized for the benefit of Mr. Letwin) discovery is made at an IMG junior holding, or somehow a bargain M&A drops into our laps. Keep the faith...
Bullboard Posts