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Author Topic: IAG - IAMGold, Inc. - NYSE  (Read 6307 times)
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« on: December 25, 2008, 08:43:23 PM »


Daily Chart:  http://stockcharts.com/h-sc/ui?s=IAG&p=D&b=5&g=0&id=p11530901891

Weekly Chart:  http://stockcharts.com/h-sc/ui?s=IAG&p=W&b=5&g=0&id=p71550466405

News:  http://finance.yahoo.com/q/h?s=IAG+Headlines

Business Summary:  IAMGOLD Corporation, a mid-tier gold mining company, engages in the exploration, development, and production of mineral resource properties. It primarily explores for gold, silver, zinc, copper, niobium, diamonds, and other metals. The company holds interests in five operating gold mines, a niobium mine, a diamond royalty, and exploration and development projects located in Africa and the Americas. Its development projects include the Westwood project located in the Abitibi region, Québec, Canada; the Quimsacocha project located in southern Ecuador; and the Camp Caiman project located in northeastern French Guiana, South America. The company was formerly known as IAMGOLD International African Mining Gold Corporation and changed its name to IAMGOLD Corporation in June 1997. IAMGOLD Corporation was founded in 1990 and is headquartered in Toronto, Canada.
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« Reply #1 on: December 31, 2008, 03:58:30 PM »

PRESS RELEASE
IAMGOLD: Final Results of Re-opened Tender Offer for Euro Ressources

Last update: 10:54 a.m. EST Dec. 31, 2008

TORONTO, Canada, December 31, 2008 /PRNewswire-FirstCall via COMTEX/ -- - IAMGOLD holds 84.55% of Euro Ressources
IAMGOLD Corporation announced that the final results for the re-opening of its public offer for Euro Ressources S.A. ("EURO") have been published by the French Autorite des marches financiers ("AMF") on December 23, 2008. The offering re-opened December 4, 2008 and closed December 17, 2008. As a result of the re-opening of its offer, IAMGOLD controls directly and indirectly 52,838,639 shares representing 84.55% of the current share capital of EURO. Settlement and delivery for the shares purchased pursuant to the reopened offer will occur as per the calendar published by Euronext.

Joseph Conway, IAMGOLD President & CEO said, "Following the public offer we now hold a clear majority of Euro Ressources. We are very pleased with the positive impact that this will have on the cash operating cost of gold production from our Rosebel Mine in Suriname".

http://www.marketwatch.com/news/story/IAMGOLD-Final-Results-Re-opened/story.aspx?guid={53961B19-ADA4-427B-BE07-245BB5BFB2AD}
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« Reply #2 on: January 01, 2009, 09:39:22 PM »

IAMGOLD COMPLETES $20 MILLION PRIVATE PLACEMENT IN OREZONE

Toronto, Ontario, December 31, 2008 – IAMGOLD Corporation (“IAMGOLD”) completed the previously announced purchase on a private placement basis of 71,428,571 common shares of Orezone Resources Inc. ("Orezone") at a price of Cdn$0.28 per share for gross proceeds to Orezone of Cdn$20 million. As a result, IAMGOLD holds approximately 16.6% of the outstanding shares of Orezone. IAMGOLD did not hold any securities of Orezone prior to the private placement.

On December 11, 2008, IAMGOLD and Orezone jointly announced a business combination. The private placement was completed pursuant to the definitive arrangement agreement dated December 10, 2008, whereby IAMGOLD would acquire, via a plan of arrangement, all of the outstanding common shares of Orezone in a supported, all-share transaction (the “Transaction”). Total consideration to be provided to shareholders of Orezone under the Transaction is valued at approximately US$139 million. Completion of the Transaction is subject to, among other things, the approval by the shareholders of Orezone at a special meeting of shareholders of Orezone, and final court approval. The Transaction is expected to close by the end of February 2009.

Orezone’s main asset is the fully permitted, 4 million ounce Essakane gold resource, located in Burkina Faso, West Africa. Construction commenced in September of this year for a mine that will contribute average gold production of over 300,000 ounces per year over a minimum nineyear mine life. Average cash operating cost is estimated at US$358 per ounce, using a $600 per ounce gold price and $85/bbl oil price. Full production is anticipated in late 2010, requiring a remaining capital expenditure of approximately US$350 million.

http://www.kitco.com/pr/1066/article_12312008170727.pdf
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« Reply #3 on: January 08, 2009, 02:09:29 PM »

IAMGOLD Expands Presence in West Africa and Announces Appointment of Senior Vice President, African Operations
Jan 08, 2009 11:04 ET

TORONTO, ONTARIO--(Marketwire - Jan. 8, 2009) - IAMGOLD Corporation ("IAMGOLD") (TSX:IMG)(NYSE:IAG)(BOTSWANA:IAMGOLD) is pleased to announce the appointment of Brian Chandler as Senior Vice President, African Operations. Brian will lead the expansion of IAMGOLD's presence on the African continent, in the role of Managing Director, IAMGOLD Africa.

Brian is a professional engineer with 25 years' experience in many aspects of the mining industry, working in both underground and open pit mining operations and development projects in Canada, Ireland and Africa. He has been a consultant to IAMGOLD over the past 8 months and was instrumental in the operational improvements at our Mupane gold mine in Botswana, where costs were significantly reduced this year through efficiencies; cash operating costs of US$408/oz for the nine months ended September 30, 2008 compared with US$572/oz a year earlier.

Brian will be establishing an IAMGOLD Corporate Office in Africa, initially in Dakar, from which he will be responsible for IAMGOLD's African operations and for building relationships with joint venture partners, governments and local communities. Brian will also take the lead in driving IAMGOLD's growth strategy in West Africa, one of IAMGOLD's key focus areas.

IAMGOLD currently has interests in two gold mines in Mali, two in Ghana and one in Botswana. In 2008, about half of IAMGOLD's global gold production was from these African operations.

Moving forward, IAMGOLD will further its position as a leading gold player in West Africa upon completion of the recently announced transaction with Orezone Resources Inc. ("Orezone"). Under the proposed transaction, IAMGOLD would acquire, via a plan of arrangement, all of the outstanding common shares of Orezone Resources Inc. in a supported, all-share transaction (the "Transaction"). Completion of the Transaction is expected in late February, subject to, among other things, the approval by the shareholders of Orezone at a special meeting of shareholders of Orezone, and final court approval.

On completion, IAMGOLD would own a 90% interest in the fully permitted, 4 million ounce Essakane gold project, located in Burkina Faso, West Africa, with the Burkina Faso Government holding the remaining 10%. Construction commenced in September of 2008 for a mine that will contribute average gold production of over 300,000 ounces per year over a minimum nine-year mine life. Full production is anticipated in late 2010. IAMGOLD's newly appointed Managing Director, IAMGOLD Africa, Brian Chandler will play a leading role in the integration and construction of the Essakane gold project.

"We are pleased to have an experienced mining executive join us to further establish our presence in West Africa. Brian further expands our executive team and has the mining expertise and experience to deliver on our aggressive growth objectives in Africa," commented Joseph Conway, IAMGOLD's President & CEO.

http://www.marketwire.com/press-release/Iamgold-Corporation-TSX-IMG-935852.html
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« Reply #4 on: January 29, 2009, 11:38:07 AM »

IAMGOLD Announces 2008 Gold Production Of 997,000 Ounces And Provides Outlook For 2009

http://www.kitco.com/pr/1066/article_01292009091928.pdf
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« Reply #5 on: February 24, 2009, 10:30:34 PM »

Toronto, February 24, 2009

IAMGOLD Announces Fourth Quarter and 2008 Year-End Results

Production, Revenues and Operating Cash Flow Rise to Record Levels

• Record gold production of 997,000 ounces exceeds January 2008 original projection by 8%. Cash
costs (1) for 2008 were $459 per ounce and in line with January 2008 guidance.

• Record revenues of $869.6 million, a 28% increase over the prior year. Fourth quarter revenues
reached $209.6 million, an 8% increase over the same quarter of 2007.

• Operating cash flow for 2008 more than doubled to $254.5 million ($0.86 per share). Operating cash
flow during the fourth quarter of 2008 was $65.2 million ($0.22 per share) compared to $56.6 million
in the fourth quarter of 2007.

• Commitment of “ZERO HARM” to employees, communities and environment demonstrated by a 24%
reduction in total accident frequency, zero fatality and no significant impact to communities and the
environment.

• Adjusted net earnings(2) climbed 87% for the full year of 2008 to $107.5 million ($0.36 per share). Net
loss for the full year was $9.9 million ($0.03 per share) including a non-cash impairment charge of
$117.4 million (net of income taxes) primarily related to the Buckreef project in Tanzania. The net
loss in 2007 was $42.1 million ($0.14 per share) including an impairment charge of $99.6 million for
the Mupane property.

• Fourth quarter adjusted net earnings(2) were $16.4 million ($0.06 per share), 14% higher than the
same quarter of 2007. The net loss for the fourth quarter of 2008 was $96.4 million ($0.33 per share)
compared to net earnings of $8.5 million ($0.03 per share) in the fourth quarter of 2007.

• Financial position remains very strong at year end with cash and cash equivalents (net of bank debt)
and gold bullion at market of $219 million, together with availability under a line of credit of $80
million.

• Announced eighth straight annual dividend - $0.06 per share totaling $17.7 million.

• Announced acquisition of Orezone Resources Inc. (Essakane project), one of West Africa’s largest
undeveloped gold properties. The transaction is expected to close on February 25, 2009.

• Gold reserves increased by 20% or 1.6 million ounces to 9.6 million ounces, which more than
replaces the depletion in 2008. A further 3.1 million ounces will be added to reserves with the
Orezone Resources Inc. acquisition. Niobium reserves increased by 36% to 137,800 tonnes of
contained Nb2O5 representing an 18 year mine life at current production rates.

• The Company acquired 84.55% of the common shares of Euro Ressources S.A. - cost reduction
focus driving down per ounce royalty cost at the Rosebel mine by $40-$50 based on recent gold
prices.

http://www.kitco.com/pr/1066/article_02242009192939.pdf
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« Reply #6 on: December 12, 2009, 11:52:43 PM »

IAMGOLD DECLARES NINTH CONSECUTIVE ANNUAL DIVIDEND

Toronto, Ontario, December 11, 2009 – IAMGOLD Corporation (“IAMGOLD” or “the Company”) is pleased to declare an annual dividend payment of USD$0.06 per share payable on January 12, 2010 to shareholders of record as of the close of trading on December 24, 2009. For purposes of subsection 89(14) of the Income Tax Act, the Company designates all dividends payable on January 12, 2010 to be eligible dividends.

IAMGOLD is a leading mid-tier Canadian based gold mining company producing almost one million ounces from 7 mines on 3 continents. IAMGOLD is focused on growth with a target to reach 1.8 million ounces of gold production by 2013.

http://www.kitco.com/pr/1066/article_12112009161816.pdf
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« Reply #7 on: August 11, 2010, 09:38:17 AM »

Iamgold Q2 Earnings Down 19%

11th August 2010

Toronto-based Iamgold earned $37,5-million in the second quarter, a decline of 19% compared with a year earlier, after increased gold prices were offset by lower production and higher costs in the quarter. The company said on Wednesday that it has raised production estimates for 2010, but also markedly increased its cost forecasts for the year. Excluding some items, adjusted net income rose 24%, to $39,1-million from $31,5-million in the second quarter of 2009, while revenue for the quarter edged down 5% year on year, to $214-million.

Iamgold has mines in Suriname, Canada, Botswana, Mali and Ghana and started up its big new Essakane mine in Burkina Faso in June. The company produced 190 000 oz of gold in the second quarter, 24% less than in the same period of 2009, after closing its Doyon mine in Canada at the end of last year, and because of lower grades at mines in Africa, as well as the flagship Rosebel operation in Suriname, where unusually rainy weather resulted in lower grade ore being processed.

Average cash costs for the quarter ballooned to $623/oz from $437/oz a year earlier, as higher gold prices pushed up royalty payments, and lower production and increased waste stripping at some mines weighed on costs. The firm said on Wednesday that it has increased its production guidance for this year, but also raised cost forecasts. Gold output in 2010 is expected to be between 980 000 oz and 1,01-million ounces, compared with a previous range of 940 000 oz to one-million ounces. Costs are now seen at between $490/oz and $530/oz, a sizeable increase from the earlier forecast of $490/oz to $510/oz.

http://www.miningweekly.com/article/iamgold-q2-earnings-down-19-2010-08-11
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« Reply #8 on: August 19, 2010, 12:39:40 PM »

Iamgold Achieves Commercial Production

Aug 19, 2010 7:47 AM

Business Exchange Twitter Delicious Digg Facebook LinkedIn Newsvine Propeller Yahoo! Buzz Print Iamgold Corp. said its Essakane gold mine in Burkina Faso achieved commercial production effective July 16.

http://www.bloomberg.com/news/2010-08-19/iamgold-achieves-commercial-production-at-essakane-mine-burkina-faso.html
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« Reply #9 on: January 18, 2011, 01:00:56 PM »

Iamgold Posts Sequential Rise In Q4 Production

Jan 18, 2011

Mid-tier producer Iamgold Corp (IMG.TO: Quote) posted a 21 percent sequential rise in gold production in the fourth quarter and backed its 2011 production outlook. Iamgold shares, which have shed nearly 5 percent in the last three months, rose 7 percent to C$18.26 on Tuesday morning on the Toronto Stock Exchange. They were up 6 percent at C$18.13 in late morning trade.

The Toronto-based company said on Monday it expects to produce 1.1-1.2 million ounces of gold in 2011, at cash costs of $565-$595 an ounce. The company's key operations are in West Africa, South America and in Canada's Ontario and Quebec, where it also operates a niobium mine.

The company said its 2010 production came in at the high end of its view of 940,000-970,000 ounces. Iamgold also said it sees 2011 capital expenditure of $460 million, which will be mainly used for expansion of its Rosebel mine in Suriname, Essakane mine in Burkina Faso and the development of its Westwood gold project in Canada.

In the fourth quarter, Iamgold had attributable gold production of more than 310,000 ounces.

http://af.reuters.com/article/metalsNews/idAFSGE70H0CI20110118?pageNumber=2&virtualBrandChannel=0&sp=true
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« Reply #10 on: February 10, 2011, 12:57:34 PM »

Iamgold Boosts Gold Reserves 13%

February 10, 2011

Updated 20 minutes agoTEXT SIZE   TORONTO (miningweekly.com) – Toronto-based Iamgold increased its gold reserves by 13% in 2010, while mineral reserves of niobium rose 34%, the firm said on Thursday. The company's total attributable proven and probable gold reserves rose 1,9-million ounces, net of depletion, to 16,4-million ounces at the end of the year.

Iamgold reached commercial production at its new Essakane mine, in Burkina Faso, last year and also has mines in Suriname, Canada and Botswana, as well as joint ventures in operations in Mali and Ghana. The gain was driven by a 22% increase at the Rosebel mine in Suriname and a 58% jump at the Sadiola mine in Mali, which Iamgold owns with partner AngloGold Ashanti.

The company also increased its total attributable measured and indicated resources by 1,6-million ounces, to 21,4-million ounces. Proven and probable mineral reserves of niobium rose to 243,8-million kilograms of contained Nb2O5 at year end.

Iamgold produces niobium, which is used in speciality high-strength steels, from its Niobec mine in Quebec. The company has said it is looking at options to realise value from the asset. “The 34% growth in our niobium reserves reinforces our strategy to unlock the value of this long-life asset,” CEO Steve Letwin commented in a statement.

http://www.miningweekly.com/article/iamgold-boosts-gold-reserves-13-2011-02-10
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« Reply #11 on: November 09, 2011, 01:10:10 PM »

IAMGOLD Corporation Adjusted Earnings Rise In Third Quarter

November 9, 2011

IAMGOLD Corp. (NYSE: IAG; TSX: IMG) Wednesday reported that adjusted net earnings from continuing operations were $112.5 million, or 30 cents a share, in the third quarter, compared to $39.9 million, or 11 cents, in the year-ago period. The main adjustment was for fluctuating foreign-exchange rates, IAMGOLD reported. Net earnings from continuing operations were $50 million, or 13 cents a share, compared to $37.4 million, or 10 cents, in the third quarter of 2010.


IAMGOLD reported that revenue from continuing operations rose 84% in the third quarter to $431.9 million. Gold margins rose by 42% to $1,001 an ounce from the prior year as higher gold prices more than offset an increase in costs. "As indicated by our results this quarter, our core operating activities continue to generate significant cash flow,” said Steve Letwin, IAMGOLD president and chief executive officer.

http://www.kitco.com/reports/KitcoNews20111109ASKN_iamgold.html
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« Reply #12 on: April 27, 2012, 12:53:20 PM »

IAMGold Expands Gold Production Pipeline In Canada With Acquisition Of Trelawney

April 27, 2012

IAMGOLD Corporation and Trelawney Mining and Exploration Inc., today announced that they have entered into a definitive agreement (the “Agreement”) whereby IAMGOLD will acquire, through a plan of arrangement, all of the issued and outstanding common shares of Trelawney. Trelawney is a Canadian junior mining and exploration company, focused on the development of the Côté Lake Deposit located adjacent to the Swayze Greenstone Belt in northern Ontario. Under the terms of the Agreement, each Trelawney shareholder will receive $3.30 in cash for each Trelawney share held. The transaction price represents a 36.6% premium based on Trelawney’s 20-day volume weighted average price (“VWAP”) for the period ending April 26, 2012. “The acquisition of Trelawney creates a larger and more geographically balanced portfolio of long-life gold assets for IAMGOLD. This transaction provides an accretive return on invested capital as we are effectively redeploying the cash proceeds from the sale of non-core assets last year into a Canadian gold project that significantly strengthens our future gold production profile.

This is consistent with our strategy to invest in development projects that we own and operate so we can derive maximum benefit from leveraging our operational and development expertise. Trelawney is an excellent strategic fit with our existing Canadian portfolio and we look forward to advancing this promising property,” stated Stephen Letwin, President and Chief Executive Officer of IAMGOLD. Trelawney’s President and Chief Executive Officer Greg Gibson said, “Over the past three years, the Trelawney team has done a tremendous job in advancing the Côté Lake Project to its current status. I want to take this opportunity to thank all Trelawney employees for their contributions to the discovery and advancement of Côté Lake into a world class gold deposit. I am very proud of our success and the exceptional value that it has created for our shareholders. This acquisition will reward our shareholders with a significant premium that reflects this success.”

http://www.kitco.com/pr/1267/article_04272012064011.pdf
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« Reply #13 on: January 26, 2013, 01:26:40 PM »


This Stock Has A 2.86% Yield And Sells For Less Than Book

1/25/2013

IAMGold Corporation has been named as a Top 5 dividend paying metals and mining stock, according to Dividend Channel, which published its weekly ”DividendRank” report. The report noted that among metals and mining companies, IAG shares displayed both attractive valuation metrics and strong profitability metrics. For example, the recent IAG share price of $8.75 represents a price-to-book ratio of 0.9 and an annual dividend yield of 2.86% — by comparison, the average metals and mining stock in Dividend Channel’s coverage universe yields 2.8% and trades at a price-to-book ratio of 1.9. The report also cited the strong dividend history at IAMGold Corp, and favorable long-term multi-year growth rates in key fundamental data points. The annualized dividend paid by IAMGold Corp is $0.25/share, currently paid in installments, and its most recent dividend ex-date was on 12/19/2012.

http://www.forbes.com/sites/energystockchannel/2013/01/25/this-stock-has-a-2-86-yield-and-sells-for-less-than-book/?partner=yahootix
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« Reply #14 on: February 21, 2013, 11:03:58 AM »


IAMGOLD Reports 2012 Operating And Financial Results

February 21, 2013

IAMGOLD Corporation today reported consolidated financial and operating results for the year and fourth quarter ending December 31, 2012. Revenues of $1.7 billion for 2012 were virtually flat with the prior year, as margins rose slightly to $952 an ounce. Net earnings from continuing operations attributable to equity holders were $334.7 million ($0.89 per share) in 2012 compared to $391.3 million ($1.04 per share) in 2011. Excluding items not indicative of underlying operating performance, adjusted net earnings attributable to equity holders1 were $316.9 million ($0.84 per share) compared to $405.7 million ($1.08 per share) in 2011. The year-over-year earnings decline is the result of lower gold production and higher operating costs and increased exploration expenses, partly offset by higher gold prices. Operating cash flowbefore changes in working capital1 was $504.0 million ($1.34 per share) compared to $656.7 million ($1.75 per share) in the previous year.
 
For the fourth quarter 2012, adjusted net earnings1, excluding items not indicative of underlying operating performance, were $90.3 million ($0.24 per share), down 16% from the fourth quarter 2011. Operating cash flow before changes in working capital1 was $130.1 million ($0.35 per share) compared to $190.1 million ($0.51 per share) in the same prior year period.
 
http://finance.yahoo.com/news/iamgold-reports-2012-operating-financial-232800528.html
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