IAMGOLD Corporation reports recurring updates on its role as a Canada-based intermediate gold producer and developer with operating mines in North America and West Africa. Company news commonly covers operating and financial results, production guidance, realized gold prices, mine-site cash flow, debt repayment, share buybacks and credit-rating developments.
Updates also focus on Côté Gold and Westwood in Canada, Essakane in Burkina Faso, and exploration and development work including the Nelligan Mining Complex in Quebec. Other recurring subjects include NI 43-101 mineral resources and reserves, sustainability and ESG reporting, annual meeting voting results, auditor appointments, compensation votes and share incentive plan matters.
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.
The Mining Investment Event of the North, Canada’s premier Tier 1 Global Mining Investment Conference, will be held in Quebec City from June 4-6, 2024. Kinterra Capital Corp. will participate as the Battery and Critical Metals Sponsor. The event will feature over 100 mining companies, including high-profile participants like Agnico Eagle Mines and Glencore Canada. Key sponsors include Laurentian Bank Securities and National Bank Financial Markets. The conference aims to address sustainable and geopolitically secure supply chain solutions for critical minerals, highlighted by Kinterra's focus on 'mine to battery' solutions.
IAMGOLD (NYSE: IAG) reported strong financial and operating results for Q1 2024, with attributable gold production of 151,000 ounces. The highlight was the first gold pour at the Côte Gold mine, marking a significant milestone. Operating guidance for the year remains unchanged, with expected gold production between 430,000 to 490,000 ounces. Revenues were $338.9 million, with an average realized gold price of $2,077 per ounce. The company reported positive EBITDA of $154.1 million and mine-site free cash flow of $46.2 million. IAMGOLD's available liquidity stands at $693.8 million. In terms of health and safety, the company reported improved DARTFR and TRIFR rates. The Côte Gold operation is expected to achieve commercial production in Q3 2024, positioning it among the top gold mines in Canada.
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