IAMGOLD: Poised for Growth Under Dynamic LeadershipFULL DISCLOSURE: I’m in my golden years and a successful long-term IAMGOLD shareholder (not a promoter). I enjoy sharing some of my insights about my favorite gold stock, IAMGOLD. Over the past decade, I’ve experienced the highs and lows, celebrated successes when the company declared dividends, and weathered downturns. Nowadays, my focus is on share price increases. If you bought in at the low end, you’ve likely seen your investment double and are anticipating another double. I firmly believe the company will declare dividends again in the future. My faith in the company's direction remains strong.
IAMGOLD is rapidly progressing toward its goal of becoming a leading, modern Canadian gold producer. With a robust balance sheet and valuable assets, the company is poised to generate significant value for stakeholders and investors.
As a retired mining executive, my extensive research and analysis of IAMGOLD’s fundamentals reveal great potential. Under the dynamic leadership of Renaud Adams, President and CEO—who brings over 30 years of global mining experience—the company is in capable hands. I endorse Renaud and his team wholeheartedly and feel secure in my investment.
My confidence is fueled by IAMGOLD’s diverse asset portfolio and successful mining operations, including Essakane, Westwood, and the flagship Cote Gold mine. The company's exploration projects, such as the Nelligan project and the Gosselin high-grade ore extension of Cote Gold, show continued promise with proven resources. I believe we're only witnessing the tip of the iceberg regarding IAMGOLD’s future potential. Increasingly, experts, shareholders, and investors share this positive sentiment. The mines are located in Northern Ontario and Quebec, some of the safest and best mining jurisdictions in the world, known for their rich gold fields.
According to recent company announcements, IAMGOLD is on track to meet its 2024 guidance estimates. The Cote Gold mine is expected to achieve a 90% productivity rate by December 2024 and aims for 100% productivity in the first quarter of 2025. If it maintains this rate throughout 2025, IAMGOLD could become a million-ounce gold producer—a remarkable milestone.
Additionally, the future construction of the Nelligan mine holds major advantages. Years of exploration and delineation drilling suggest a majestic open-pit ore body. The project's location, with access to essential infrastructure like electric grids, rail, workforce, and airports, ensures cost savings and operational efficiency. This proximity will accelerate development timelines and enhance overall project efficiency. Hopefully, IAMGOLD management will announce the development and construction of the Nelligan mine in 2025. These strategic advantages, coupled with local and federal government support, position IAMGOLD for continued success and a positive outlook for shareholders.
Good news also surrounds the Westwood mine, which has a milling capacity of 3,000 TPD but currently utilizes only 1,000 TPD. IAMGOLD is in discussions with Radisson Mining Resources, located nearby, which has one of Quebec’s highest-grade undeveloped gold projects. They are negotiating to mill 1,000 TPD of Radisson’s ore at Westwood, a win-win deal for both companies that will prolong Westwood’s life.
To all shareholders, despite recent gold price volatility, some mining experts predict a sharp increase in gold prices. Let’s stay optimistic.
As we celebrate the festive season, I look forward to IAMGOLD having a breakout year in 2025 and bringing substantial rewards to all investors and stakeholders. Our time has come!