IAMGOLD Corp T.IMG

Alternate Symbol(s): IAG

Metals & Mining Gold

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.

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IAMGOLD Corp

Bullboard Posts

Post by Luke555on Apr 29, 2020 12:27pm

182 Views

Post# 30966813

BOD YOUR "FIRED"

As a long-term shareholder, I strongly recommend that the shareholders vote against the re-instatement of this Board of Directors and Executive Managers at the May 4th, Annual Meeting of Shareholders.

These people holding the key senior positions, will say and do everything in their power to defend their self-serving interests, including their over-inflated remuneration packages. No doubt, the company endured some serious leadership and managerial issues, however, that's no reason to abdicate your managerial responsibilities. They did not rise to the challenge.

When the pressure was on to cut overhead costs, the wise decision would have been for them to show decisive leadership action and take salary cuts. Not to penalize the shareholders by the elimination of the dividends to preserve the balance Sheet and protect their vested interests.

The current Board of Directors along with the Executive Managers must not be rewarded for their incompetence and poor managerial decision-making. They must be held accountable for the over-statement of the production guidance and the selling of the company assets which was nor received well by the public and had a negative impact on the share price.

The recently departed CEO was the architect behind the poor management decision-making which was overwelmingly supported by the BOD. He focused his attention on the financial metric of establishing a strong Balance Sheet. Believe me, he was no mining engineer. He neglected the mining operations. In the end, he realized his short-comings and that his reign was coming to an abrupt end, so he did the honorable thing and handed-in his resignation, cashed-in and set sail into the sunset. Now we have a clone to replace him.

As President Trump would eloquently say, "It's time to clean house, YOUR FIRED".

The corporation must set forth a new strategy and company vision. One that focuses on growth, profitability and a target of becoming a million oz. producer.

I strongly recommend that we take action and assert our rights as shareholders and protect our investments! Vote the BDO and their STATUS QUO vision out to pasture. We are the only ones that can make this happen! LET'S MAKE THIS COMPANY GREAT AGAIN!