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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 Mar 02, 2021 12:51pm
292 Views
Post# 32695786

Strong Financial Position

Strong Financial PositionI'd like to mention a couple of important facts that I picked-up reading the year-end financial reports. First, the cash & cash equivalents were $941.5 million dollars and $ 483.3 million was available under the credit faciliy. That's around  $1.4 B in cash!!!   That raises the question, "WHAT ARE THEY GOING TO DO WITH THIS HOARD OF CASH?"   Secondly, the company made a wise desicion of initiating a gold hedging program during the year for about 25 % of its future production.  That reduces risk and I think its good insurance under the present gold price environment!  Remember fellow shareholders, "Be Right and Sit Tight". 
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