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Opinion on  IAMGOLD Corp. (IAG)     Sector: Basic Materials  >  Industry: Gold & Silver
IAMGOLD Corp

Jun 01, 2009 10:45 PM GMT
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Return Risk
-24.55% HIGH
Principal

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Address 401 Bay Street Suite 3200 Toronto, ON M5H 2Y4 Canada - Map Phone: 416-360-4710 Fax: 416-360-4750 http://www.iamgold.com Exchange NYSE Index Membership None Sector Metals and Mining Industry Gold Held by these Mutual Funds Allianz NFJ Small Cap Value Instl First Eagle Gold A DFA Intl Small Cap Value I Ivy Global Natural Resources A USAA Precious Metals and Minerals American Century Global Gold Inv Fidelity Select Gold Fidelity Low-Priced Stock Tocqueville Gold BlackRock Global Allocation I Competitors New Gold Barrick Gold Tanzanian Royalty Exploration Nevsun Resources Executives Mr. William Pugliese Founder Chairman Member of Compensation Committee and Member of Corp. Governance Committee Mr. Joseph F. Conway Chief Exec. Officer Pres and Exec. Director Ms. Carol T. Banducci Chief Financial Officer Mr. Larry E. Phillips Sr. VP of Corp. Affairs Corp. Sec. and Gen. Counsel Mr. John McCombe Sr. VP of Africa Financial Snapshot Revenue Net Income EPS EBITDA Long Term Debt 2007 $ 678.1 M $ -42.1 M $ -0.1 $ 154.8 M $ 5.7 M 2006 $ 303.3 M $ 72.5 M $ 0.4 $ 104.7 M $ 8.3 M IAMGOLD Corporation was incorporated under the Canada Business Corporations Act with the name 'IAMGOLD International African Mining Gold Corporation' by articles of incorporation effective March 27, 1990. The Company is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, the Company has interests in various operations and exploration properties as well as royalty interests on various operations that produce gold and diamonds. The ore reserves and mineral resources of the Company are: Sadiola gold mine, the Yatela gold mine, the Tarkwa gold mine, the Damang gold mine, the Mupane gold mine and the Buckreef project. The Sadiola Gold Mine consists of an open pit mining operation exploiting the Sadiola gold deposit, associated carbon-in-pulp processing plant, townsite and infrastructure at Sadiola, in Mali. SEMOS is the joint venture company which holds the Sadiola Mining Permit, owns the Sadiola Gold Mine and carries out exploration activities within the Sadiola Mining Permit. The mining permit area in Mali on which the Yatela Gold Mine is situated is located immediately north of the Sadiola Mining Permit. The Yatela Mining Permit is owned by YATELA, and covers 195 square kilometres. Damang Gold Mine is approximately 280 kilometres by road west of the capital, Accra, and 140 kilometres by road from the port of Takoradi on the Atlantic coast. The Damang property is covered by a mining lease granted to Abosso by the Government of Ghana on April 19, 1995. The Tarkwa Gold Mine is located in southwestern Ghana, about 300 kilometres by road west of Accra, the capital. The Tarkwa Gold Mine consists of an open pit operation on the Tarkwa property and the adjacent northern portion of the Teberebie property acquired by GFGL in August 2000. The Mupane Gold Mine consists of an open pit mining operation exploiting the Tau, Kwena and Tholo gold deposits. The mine area is located in the eastern part of Botswana roughly 30 kilometres southeast of the town of Francistown. The Quimsacocha Project is 100% owned by the Company. The Company holds all the necessary environmental permits required to carry out exploration work at the Quimsacocha Project. The Company owns or has the right to earn between 75% and 80% of various prospecting and mining licenses within the Buckreef Project area in Tanzania. There are more than 1,000 employees, including those employed by outside contractors, at the Sadiola Gold Mine. There are approximately 700 employees at the Yatela Gold Mine. As of December 31, 2005 the Tarkwa Gold Mine had a compliment of approximately 3,050 employees, including those employed by outside contractors. As of December 31, 2005, the Damang Gold Mine had approximately 890 employees, including those employed by outside contractors.


IAG:  This call was made on 06/01/09 @ $11.02
Rating:   Positive   $11.02 (06/01/09)
Gain/Loss:   +73.68% in 174 days
Allocation:   0.0% of portfolio


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