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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 ML_Geoon Aug 05, 2016 1:10pm
209 Views
Post# 25114566

RE:RE:RE:RE:RE:RE:RE:RE:Financials look ok

RE:RE:RE:RE:RE:RE:RE:RE:Financials look okThanks wilwal. Cote "potentially" can host higher-grade pockets...but we are talking ~2 g/t of discontinuous lenses. I can’t say too much being a former IMG employee but a lot of exploration dollars has gone to try and find a starter pit or higher grade resource on the belt since they bought the property. Even then, there is a large capex for even a smaller operation because they are essentially starting from scratch with permitting and infrastructure (scaling-up a mine is not the lions share of capex). A poorly thought out strategy from inception – a $600 million “oops” with a $1 billion start-up cost to mine something  <1 g/t in fresh rock. Read Letwins “condemned to excellence” article to see the delusional mindset at the time. He was touting low-grade and now he is crying for higher grade. The prevalence of high-grade gold discoveries is indeed declining but when everyone decided to go ‘smaller, efficient, high grade” IMG went “large, low-grade, under a lake” which translates to huge capex, tighter margins, and highly levered to POG. Lots of much more robust deposits have been bought and put into production since the acquisition of Cote. Again it was a gamble that hinged on gold staying >$1600. Seeing a theme here with how IMGs gambling has played out? 
 
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