Shareholders, I don’t look in the rear mirror when it comes to IAMGOLD, I dwell on the positive which is the future.
I really wasn’t expecting any earth shattering news regarding Second Quarter 2023 operating and financial results. The day-to-day volatility in the stock market doesn’t bother me. As I’ve reiterated over and over, my primary focus is on the future of the company.
My optimism stems from several factors, firstly, Renaud Adams, President and Chief Executive Officer of IAMGOLD, has demonstrated strong leadership qualities has outlined his vision for the company. Secondly, under Renaud Adams guidance, he is committed to the optimization of the operations of the mines and all other assets. Moreover, he envisions 2023 as a pivotal year for IAMGOLD, with a primary focus on the successful execution of the Cote Gold Project. The company is undergoing a major transformation by selling its foreign assets and shifting its mine production to Canada. In 2024, the Cote Gold project will become Canada’s third largest gold mine in terms of production.
Moreover, have you noticed that the company adopts a conservative approach in sharing information with its shareholders? Contrary to companies that over-commit in their guidance and always fail to deliver.
Ct Gold Project | Ontario, Canada
As of June 30, 2023, overall, the project was estimated to be 85.7% complete. The Third Quarter 2023 report will move the % of construction completion into the 90% range. According to the latest report, this is well within the company’s projections. The high risk work has been done and the company is confident that the mine will operational in early 2024. The Cote Gold mine will become the flagship asset for the company, with its long life, low cost and turn the company into a profitable mining operation. Many naysayers have constantly predicted that IAMGOLD would never survive its trials and tribulations but they will be proven wrong. We are only months away from Cote Gold mine becoming a reality and a quality stock.
I encourage you to conduct your own due diligence before making any investment decisions. It is vital to gather relevant information and seek professional advice to ensure informed choices. Hasty decisions can lead to regrets.
My motto, “Be Right, Sit Tight and Be Patient”.