IAMGOLD Corp Stock Price, News & Analysis

IAMGOLD has released an updated life of mine plan for its Westwood Complex in Quebec, extending operations from 2025 to 2032. The underground Mineral Reserves at Westwood contain 955,400 ounces at 11.45 g/t Au, with projected LOM production of 925,000 ounces. The first three years (2025-2027) are expected to average 146,000 oz Au annually.

Key operational metrics include 95% processing plant recoveries, average operating costs of $239.91/t, and total sustaining capital expenditures of $260.7 million. The Grand Duc open pit operations will conclude in 2025 with processing completed in 2027. Both Westwood and Grand Duc deposits remain open for potential expansion.

The mine has demonstrated improved seismic risk management through enhanced mining practices, with seismic activity rates reduced by half through changes in mining sequencing, extraction rates, and geo-seismic strategy implementation.

IAMGOLD has exercised its right to repurchase a 9.7% interest in the Côté Gold Mine from Sumitomo Metal Mining, restoring its ownership to 70%. The transaction, completed on November 30, 2024, had a final purchase price of approximately $377 million, including a $23.7 million repurchase option fee accrued during 2023. The Côté Gold project remains on schedule to exit the year at 90% of nameplate throughput, with full run rate expected next year.

IAMGOLD reported strong Q3 2024 results with attributable gold production of 173,000 ounces and YTD production of 490,000 ounces. The company reaffirmed its 2024 production guidance of 625,000-715,000 ounces. Côté Gold achieved commercial production on August 1, 2024, and remains on track to reach 90% throughput by year-end.

Financial highlights include revenues of $438.9 million, net earnings of $1.04 per share, and adjusted net earnings of $0.18 per share. The company reported available liquidity of $959.3 million, including cash and cash equivalents of $553.4 million. Cost guidance remains unchanged, with cash costs expected at the low end of $1,175-$1,275 per ounce sold and AISC at $1,700-$1,825 per ounce sold.

Gold prices are surging towards record highs, with Goldman Sachs projecting potential reaches of $3,000 by end-2025. Amid this backdrop, Yukon Metals Corp. announced results from ground-based Gravity and Time Domain Electromagnetic surveys at its Star River Project, identifying four prominent conductive zones. The surveys, completed by Aurora Geosciences, covered 20.6 kilometers with 100m line spacing and revealed targets coincident with gold and silver sampling up to 101 grams per tonne gold. The 715-hectare project, located 50km south of Ross River, Yukon, is accessible by all-season road and features multiple showings of polymetallic carbonate replacement mineralization.

IAMGOLD has announced positive assay results from its 2024 drilling program at the Nelligan Project in Quebec, Canada. The program confirmed extensions of mineralized zones across three areas: Zone 36, Renard Zone, and Footwall Zone, with significant gold intersections. Notable results include intersections of up to 48.8m at 1.48 g/t Au in Zone 36, 34.5m at 2.57 g/t Au in Renard Zone, and 54.5m at 0.95 g/t Au in Footwall Zone.

Additionally, IAMGOLD updated the Monster Lake Project's mineral resource estimate, reporting 84,200 ounces of indicated resources at 11.0 g/t Au and 488,500 ounces of inferred resources at 14.4 g/t Au, representing a 32% increase in inferred resources.

Metalla Royalty & Streaming (NYSE American: MTA) (TSXV: MTA) reports portfolio updates for several projects:

Gosselin (1.35% NSR): Drilling has extended mineralization outside the current resource pit shell, including potential connection between Côté and Gosselin deposits.

Endeavor (4.0% NSR): $20M funding secured for mine restart, with production expected in H1-2025. Recent drilling shows potential for increased ore extraction rates.

La Guitarra (2.0% NSR): Mining ramp-up continues, with commercial production expected before year-end. Current throughput averages 350 tonnes per day.

Joaquin (2.0% NSR): New operator plans comprehensive exploration program to boost resource estimate and publish maiden JORC (2012) MRE in H1-2025.

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.