Past year: ▲ 58%(16.24 – 33.56 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
15 Nov 2007regulatory community update▲ GoodMajor
IAMGOLD reached an agreement with Ecuador's Government, which recognizes the company has met its legal, social and environmental obligations at Quimsacocha and will give the project full support. In return IAMGOLD is giving up about 3,000 hectares (23% of its 12,967 hectare holding) that it says contains no resources or targets; the pre-feasibility study is still due in Q1 2008.
9 Oct 2007asset acquisition disposition● Neutral
IAMGOLD signed an option letting Cadiscor Resources buy the Sleeping Giant mine in northern Quebec, after IAMGOLD finishes mining and processing, for total consideration of up to CDN$7 million. IAMGOLD gets CDN$300,000 cash, 600,000 Cadiscor shares and 1 million warrants up front, keeps an NSR royalty, and the option is expected to be exercised late 2008 and no later than April 1, 2009; Cadiscor share issuances need TSX approval.
6 Sept 2007resource reserve update▲ GoodMajor
IAMGOLD's internal scoping study on Westwood, which follows the exploration drilling reported in June, indicates about 200,000 ounces of gold a year for roughly 15 years, starting in 2012, based on inferred resources of over 3 million ounces. It estimates pre-production capital of US$316 million, with shaft sinking expected to begin in 2009; the company calls the study preliminary and notes inferred resources are too speculative to count as reserves.
10 July 2007drilling result▲ Good
IAMGOLD reported 16 more drill holes at its 100%-owned Quimsacocha project in Ecuador, including 32.6 metres averaging 5.3 g/t gold, 66.5 g/t silver and 0.36% copper. Management said it is monitoring Ecuador's political environment and expects the pre-feasibility study to be complete in Q1 2008.
13 June 2007drilling result▲ Good
IAMGOLD reported 12 more drill holes from its Westwood exploration program near the Doyon mine in northern Quebec, including 4 metres averaging 38.1 g/t gold. The results confirm three mineralized zones west of the Bousquet fault; the company plans over US$5 million of spending on the program in 2007, a scoping study due in August, and an updated resource estimate 'shortly'.
