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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

Post by Luke555on Feb 09, 2021 7:44am
180 Views
Post# 32510438

DIVIDENDS and DIVIDENDS

DIVIDENDS and DIVIDENDSDividends, Dividends, this is my last hurrah on this subject. What mining company goes into the gold mining business with the sole purpose of generating an excessively strong balance sheet?  For years, the IMG BOD has strived to achieve this objective.  Today, with nearly 1B dollars sitting in the bank vaults, and with gold being realized at over $1,800 per ounce, the company continues on with business as usual. Normally, a mining company maintains a reasonable amount of funds to meet its daily and ongoing expenditures including capital and exploration expenses. But this company has gone over-board!  It’s obvious that the market does not share the company’s philosophy of maintaining an excessive amount of cash in the bank. The low share price is a clear indicator.  If the current BOD is unwilling to pursue a path of growth and make tough decisions, why not declare a dividend at the up-coming shareholders meeting?  This would increase the share price and provide a return on investment to the long suffering shareholders and show that the BOD cares about its shareholders.  I would be interested in hearing about any plausible argument against my proposal on declaring a dividend in the current gold environment.  As always, I mention not to sell your shares at these low prices. Despite the current BDO ineptitudes in the mining business, I see a brighter future ahead!

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