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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 12, 2021 6:38pm
290 Views
Post# 32559523

IMG FALSE HOPE - M&A

IMG FALSE HOPE - M&ARecently, a poster said, “He read that the company was going to use the nearly $1B dollars sitting in the bank for M&A activities”.  To me, this is false hope. On January 27, 2021 at the TD Mining Conference, the IMG BOD’s boasted about their strong financial position and also, bragged about the company’s fully funded growth pipeline with no need to pursue expensive M&A transactions.  Again I re-iterate that for the past several years, the primary objective of this self-serving IMG BOD is to producing a strong Balance Sheet and to protect their remuneration packages.  The big winners in this game are the bankers!  Obviously, the markets don’t agree with this strong balance sheet approach just look at the share price.  The BOD does not want to upset the applecart and they are pleased to carry-on business as usual. I have one interesting question, “Is it possible that the company maintains a nearly $1B dollar cash in the bank in order to deter any possible buyer”?  As always, I mention that you should not sell your shares at these low prices.  Despite the ineptitudes of this BOD’s, I’m confident of a brighter future...

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