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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 modulexon Aug 04, 2022 3:10pm
324 Views
Post# 34871893

DONT TOUCH AT "IMG" UNTIL FINANCIAL PACKAGE IS ANNOUNCED

DONT TOUCH AT "IMG" UNTIL FINANCIAL PACKAGE IS ANNOUNCEDListening briefly to this morning conference call, management is committed to pursue the COTE project.  The CFO and Interim CEO both mentioned that there will be different types of capital infusion, namely the sale of ROSEBEL, which they say, is at an advanced stage of discussions.  There is however a big question mark as to what will SUMITOMO METAL & MINING, holding an approximate 35% stake in the COTE project will decide further, as to come up with more money to help getting the required funds needed for COTE and thefore require its 35% of ownership in COTE to increase?  There will definitely be an important dilution of shares, which bodes badly for the stock price to remain depressed for quite a period of time.  IMG's share price will not return to $3 until the company is ultimately force to abandoned COTE or management throws up the towel and ultimately agree to a takeover or merger.
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