IAMGOLD Corp T.IMG

Bad news this morning for IMG

[Reachme]

Sumitomo Metal Mining : Review of the development plan of the Cote Gold Project (Canada) | MarketScreener

[Reachme]

"Regarding the estimated costs increases of the Cote Gold Project (Canada) announced by IAMGOLD" dated May 4, 2022 and August 4, 2022. As a result of this review, the initial capital expenses required for the construction of the Project are estimated to increase from 1.785 billion US dollars (excluding costs of 125 million US dollars for leasing heavy equipment) to 2.820 billion US

[RayDonovan78]

Market doesn't think so......

[greendayyyy]

All major mining projects will increase in the next few years. Projects under a billion dollars do not exist anymore. How much will the future Kinross project cost with the disproportionate purchase of GBR. In the not so distant future we will talk about the Cot project as a bargain. This is the new reality.

[Luke555]

Greendayyy, I agree with your comment 100%. Projects under a billion dollars do not exist anymore. In this day and age, infrastructure and construction cost are rising exponentially.  Remember, Cote Gold mine is located next to highway 144 between Timmins and Sudbury in one of the world's leading mining jurisdictions. Some Highlights of the Ct Gold 2022 Technical Report released in the

[Domovyk]

More Bad news if you want to have an idea of RCF's treatment of long term shareholders look at NZC deal.