Welcome to our dedicated page for IAMGold Corporation news (Ticker: IAG), a resource for investors and traders seeking the latest updates and insights on IAMGold Corporation stock.
IAMGOLD Corporation (NYSE: IAG, TSX: IMG) is a leading mid-tier gold producer with a diversified portfolio of mining operations across three continents. The company operates four gold mines, including joint ventures, and has a robust pipeline of development and exploration projects. IAMGOLD's growth strategy is concentrated in Canada, select countries in South America, and Africa.
IAMGOLD's flagship project, the Essakane Mine in Burkina Faso, is one of its most significant assets, contributing substantially to its gold production. In Canada, the Westwood Mine and the recently inaugurated Côté Gold Mine are pivotal to its operations. The Côté Gold project, a joint venture with Sumitomo Metal Mining Co., Ltd., commenced production in early 2024 and is set to become one of the largest gold mines in Canada.
The company is committed to sustainable mining practices, epitomized by its Zero Harm® initiative, which aims to achieve the highest standards in human health, safety, and environmental stewardship. IAMGOLD actively engages with local communities, ensuring its operations benefit host regions through various social, economic, and environmental programs.
Financially, IAMGOLD maintains a strong balance sheet, with significant liquidity to support its ongoing projects. The company has also announced several strategic initiatives, including a forward gold sale arrangement to bolster cash flow during the ramp-up phase of the Côté Gold Mine. IAMGOLD's financial health is further reinforced by its robust revenue streams, primarily from the Essakane and Westwood mines.
Recent developments include the completion of the first gold pour at the Côté Gold Mine and the ongoing exploration at the Gosselin deposit, which shows promising potential. The company is also focused on expanding its resource base through strategic acquisitions, such as the recent purchase of Vanstar Mining Resources to secure full ownership of the Nelligan Gold Project in Quebec.
IAMGOLD's stock is publicly traded on the New York Stock Exchange and the Toronto Stock Exchange. The company's presence on the Jantzi Social Index highlights its commitment to high standards in environmental, social, and governance (ESG) practices, making it a reputable and sustainable choice for investors.
IAMGOLD has provided an update on its Côté Gold Mine operations and exploration activities. Key highlights include:
- Q3 2024 gold production of 68,000 ounces (41,000 ounces attributable)
- Processing plant ramp-up on track to reach 90% of 36,000 tpd design capacity by year-end
- Mining activity totaled 10.4 million tonnes in Q3 with improved strip ratio of 2.3:1
- Mill throughput doubled to 1.6 million tonnes in Q3 compared to Q2
- Record daily throughput of 40,900 tpd achieved after September shutdown improvements
- Gosselin Zone exploration drilling outlined extensions outside the resource pit shell
- Significant drill intercepts include 368.8m at 0.96 g/t Au and 235.0m at 2.70 g/t Au
The company remains focused on ramping up Côté to 90% throughput by year-end and achieving nameplate capacity in 2025. Exploration results continue to demonstrate potential for Côté and Gosselin zones to connect and expand.
IAMGOLD (NYSE: IAG) (TSX: IMG) has announced the release date for its third quarter 2024 operating and financial results. The company will publish the results after market hours on Thursday, November 7, 2024. A conference call with senior management to discuss the performance and results is scheduled for Friday, November 8, 2024, at 8:30 a.m. (Eastern Time).
Investors and interested parties can access the conference call through various options:
- Webcast from the events section of IAMGOLD's website
- Pre-registration via Chorus Call (recommended)
- Toll-free number for North America: 1 (844) 763-8274
- International number: 1 (647) 484-8814
An online archive of the webcast will be available on the company's website, and a telephone replay will be accessible for one month following the call.
IAMGOLD (TSX: IMG) (NYSE: IAG) has provided an update on its operations in Burkina Faso following media reports about a radio interview with President Traoré. The President discussed various topics, including a reference to potentially withdrawing mining permits from companies violating Burkina Faso's laws. IAMGOLD is not aware of any potential challenge to its permits for the Essakane mine, which continues to operate in compliance with regulations.
The company reports a constructive and positive working relationship with the government, demonstrated by coordination on security and community service. IAMGOLD recently received its 2024 dividend, approved earlier by the government. The Essakane mine is expected to produce between 380,000 to 410,000 ounces of attributable gold in 2024, with cash costs ranging from $1,175 to $1,275 per ounce.
IAMGOLD (TSX: IMG) (NYSE: IAG) has announced its intention to repurchase a 9.7% interest in the Côté Gold Mine from Sumitomo Metal Mining Co., The company has provided Sumitomo with the required 60 days formal notice for this transaction, which is expected to close on November 30, 2024. This repurchase will restore IAMGOLD's ownership in Côté Gold to its original 70% interest. The 9.7% stake was previously transferred to Sumitomo as part of a JV funding and Amending Agreement dated December 19, 2022. This move signifies IAMGOLD's commitment to regaining full control of its initial stake in the Côté Gold project.
IAMGOLD (NYSE: IAG) reported strong Q2 2024 results, with attributable gold production hitting 166,000 ounces, driven by Essakane and Westwood, and the start of production at Côté Gold.
The company achieved revenues of $385.3 million from sales of 167,000 ounces at an average price of $2,294 per ounce. Net earnings were $84.5 million with adjusted net earnings of $0.16 per share. IAMGOLD's liquidity stood at $915.7 million with cash and cash equivalents of $511.4 million.
Key milestones included Côté Gold reaching commercial production and surpassing throughput rates of 36,000 tonnes per day. Production guidance for 2024 has been raised to 495,000-540,000 ounces, up from 430,000-490,000 ounces. Cost guidance was lowered, with cash costs expected at $1,175-$1,275 per ounce and AISC at $1,700-$1,825 per ounce.
The company completed a $300.2 million equity financing to repurchase a 10% interest in Côté. IAMGOLD also aims to reach 90% throughput at Côté by year's end, with cash costs of $700-$800 per ounce.
IAMGOLD (NYSE: IAG) announces that its Côté Gold Mine in Ontario, Canada, has achieved commercial production. The mine, operated as a joint venture with Sumitomo Metal Mining Co., , reached this milestone by operating at an average of 60% of its 36,000 tpd nameplate throughput for 30 consecutive days.
CEO Renaud Adams highlighted the achievement and the team's efforts in ramping up operations since the first gold pour on March 31, 2024. The company aims to improve plant availability and reach 90% of nameplate throughput by year-end. IAMGOLD plans to repurchase a 9.7% interest in Côté in November, increasing its ownership to 70%.
The company will report its Q2 2024 results on August 8, 2024, followed by a conference call on August 9, 2024.
IAMGOLD (NYSE: IAG) (TSX: IMG) has announced the release date for its second quarter 2024 operating and financial results. The company will publish the results after market hours on Thursday, August 8, 2024. A conference call with senior management to discuss the performance and results is scheduled for Friday, August 9, 2024, at 8:30 a.m. Eastern Time.
Investors and analysts can access the conference call via webcast from the company's website or through various dial-in options. Pre-registration is recommended for quick access. A replay of the call will be available online and via telephone for one month following the event.
IAMGOLD (NYSE: IAG) reported the results of its Annual and Special Meeting of Shareholders held on May 29, 2024.
All eight director nominees were elected with over 99% of votes in favor. KPMG LLP was appointed as the auditor with 91.09% approval, while the advisory vote on executive compensation saw 97.93% support.
Additionally, amendments to the share incentive plan were approved by 97.15% of shareholders.
IAMGOLD (TSX: IMG, NYSE: IAG) has completed a US$300.24 million bought deal financing by issuing 72,000,000 common shares at US$4.17 each. The proceeds will be used to repurchase a 9.7% interest in the Côté Gold Mine from Sumitomo Metal Mining Co., restoring IAMGOLD's 70% interest. The Offering, conducted by National Bank Financial Markets, BMO Capital Markets, and RBC Capital Markets, was announced on May 21, 2024, and closed on May 24, 2024. Funds will be deposited or used to repay credit facility amounts until the repurchase is finalized by year-end. A registration statement has been filed with the SEC.
IAMGOLD has released its 2023 Sustainability Report, highlighting its achievements in Environmental, Social, and Governance (ESG) practices. This marks the 17th consecutive year of sustainability reporting for the company. IAMGOLD also unveiled its first-ever Tailings Management Report, detailing its governance, strategy, risk management, and performance in handling tailings storage facilities. These reports underscore the company's commitment to sustainable practices, environmental protection, and high standards of health and safety. The reports are available for download on the IAMGOLD website.
FAQ
What is the current stock price of IAMGold Corporation (IAG)?
What is the market cap of IAMGold Corporation (IAG)?
What is IAMGOLD Corporation’s primary business?
Where are IAMGOLD’s key mining operations located?
What is the Côté Gold Mine project?
How does IAMGOLD approach sustainability and community engagement?
What are IAMGOLD’s financial strengths?
What recent achievements has IAMGOLD accomplished?
How is IAMGOLD performing on the stock market?
What is the Zero Harm® initiative?
What are IAMGOLD’s exploration projects?
Who are IAMGOLD’s key partners?
