Iamgold (IAG) - at under $6, looks cheap

[drbubb]

Iamgold (IAG) - at under $6, looks cheap

Historic PE of about 8, 1 million oz. Gold production (2008 thread) "10-bagger from $2 Low in 1 year"

========================================

Iamgold (IAG) ... ALL : 10yr: Jan.'15: 5yr: 2-yr : 6-mo : 10d / updated 14-Jan 2022 :

Jan.'15: 5yr: 2-yr : 6-mo : 10d / updated 14-Jan 2022 :

"We continue to deliver growth in revenues, net earnings and cash flow as reported during the current quarter. Our cash costs and increased production guidance demonstrate our focus on cost improvement and production initiatives," stated Joseph Conway, President & CEO.

All amounts are expressed in US dollars, unless otherwise indicated.

HIGHLIGHTS

Net earnings increased by 169%(1) to $33.3 million or $0.11 per share in the second quarter of 2008 compared to adjusted net earnings of $12.4 million or $0.04 per share in the second quarter of 2007.(2)

•Significant increase in the operating cash flow to $44.9 million in the second quarter of 2008, compared to $14.1 million in the second quarter of 2007.

•Gold production in the second quarter of 2008 was 255,000 ounces at an average cash cost (2) of $472 per ounce.

Production outlook for 2008 increased to 950,000 ounces of gold and at a revised cash cost of $485-$495 per ounce.

+ Exploration and development expenditures were $17.4 million during the second quarter of 2008.

+ Cash and gold bullion position of $295.7 million (valuing gold bullion at market) continues to be strong.

+ Continued growth in operating performance and contribution of the Niobec mine.

/see: http://www.iamgold.c...esultsFINAL.pdf

= = =

IAG-to-Gold ratio - from 2006-08 : Range 0.6% - 1.9% -------------------------------- : Ratio - from 2011-13 :

:

=============================================================================================

LINKS:

IAG Website :: http://www.iamgold.com/

Financials--- :: 2012-AR : 2013-Q1 :

[drbubb]

Is IAG the cheapest ??

Last : $5.66 + 0.31

Change 5.79% / Volume 662,175

Open 5.2800 / Day High 5.68 / Day Low 5.17

Previous Close 5.35

I see that IAG is trading at a PE ratio of only 8,

with a dividend yield just over 1%.

Do you know any better than that?

Broker Valuation :

Our 5%/$1150 peak gold NAVPS for IAMGOLD is US$12.37.

 

"IAMGOLD shares as a BUY and a target of US$10.00

is based on an approximate 0.80 times multiple of our peak gold NAVPS."

[drbubb]

FIRMING UP ... update

IAG: 5.74 Change: +0.22

Open: 5.88 High: 5.90 Low: 5.63

Volume: 677,717

Percent Change: +3.99%

I bought Mar.$2.50 calls on Friday

Later: Last [Tick] 6.08

Change +0.56; Change 10.14%

[Ret45]

 

Brilliant call, went long also last week. Up 10% today.

[drbubb]

still moving up: Last [Tick] 6.10[ - ]

Change 0.14, Change 2.35%

 

Small gold selloff possible from here, so you may see it back below $6.00 ($5.90?)

[drminky]

I agree IAG looks cheap, but part of that is the market discounting the permitting problems and trouble they've got maintaining production levels..

 

For a value play right now, at $1.50 Northgate looks enticing..

 

Been bullied around lately by the NSS brigade methinks.. look at that 4 million share sell order at 30% below market value last thing on a friday!!! Just a little suspicious!..

[Errol]

How would one go about buying shares in this?

 

 

[Pixel8r]

Gold Fields Ltd. (GFI) is looking quite good as well on value

 

Price: $6.47

EPS: $0.64

P/E: 10.11

Div: $0.251 (3.75%)

 

the majors appear to be being treated like juniors at the moment.

[Bobsta]

Small gold selloff possible from here, so you may see it back below $6.00 ($5.90?)

 

$3.25 now.

 

Screaming buy?

- or -

Don't touch it with a barge pole?

[Dispassion]

$3.25 now.

 

Screaming buy?

- or -

Don't touch it with a barge pole?

 

I think all the majors have got to be seen as very cheap, if you think the gold bull is still alive and well.

They have been selling off through deleveraging and with other commodity miners and are in a strong position to seriously benefit from a recovery in stocks and/or the gold price.

[drbubb]

IAMGOLD would acquire, via a plan of arrangement, all of the outstanding common shares of Orezone

in a supported, all-share transaction. Total consideration is valued at approximately US$139 million.

========

 

"This business combination with Orezone is consistent with our strategy and takes IAMGOLD to the next level. This transaction represents excellent value and takes us a large step towards our stated goal of 1.8 million ounces annual gold production by 2012, while lowering our average cash cost by $40 to $50 per ounce. IAMGOLD is uniquely positioned in the current markets with a solid cash position, low debt, record cash flow and the financial capacity to finance the construction of Essakane, a second flagship gold mine for IAMGOLD," said Joseph Conway, President and CEO of IAMGOLD.

 

Highlights of the Combination

 

- IAMGOLD to acquire and finance development of the Essakane project, one of West Africa's largest undeveloped gold reserves

 

- All-stock transaction with value of approximately US$139 million

 

- Orezone exploration assets, including Bombore, to be distributed pro rata to Orezone shareholders to create "New Orezone"

 

- Each Orezone shareholder to receive 0.08 of an IAMGOLD share and a pro rata share of New Orezone for each Orezone share held

 

- Orezone Board of Directors unanimously recommends that Orezone shareholders vote in favour of the transaction

 

- Shareholder voting agreements in place representing approximately 5.1% of the outstanding shares of Orezone

 

- IAMGOLD to provide Orezone an immediate Cdn$20 million equity financing at Cdn$0.28/share, subject to regulatory approvals

=========

 

/more: http://finance.yahoo.com/news/IAMGOLD-and-...w-13803824.html

[drbubb]

IAG: 5.57 Change: +0.49

Open: 5.08 High: 5.57 Low: 4.97

Volume: 3,286,841

Percent Change: +9.65%

==

 

Any manage to buy on that big dip? IAG got below $3

[Pixel8r]

IAG: 5.57 Change: +0.49

Open: 5.08 High: 5.57 Low: 4.97

Volume: 3,286,841

Percent Change: +9.65%

==

 

Any manage to buy on that big dip? IAG got below $3

 

Missed out on that one, bought SLW, AUY & SVM. All have been doing very well, but not as well as IAG. I will try to take note next time

 

 

[drbubb]

( I want to compile some data like the Barrick Info for IAG too)

IAG's website :: http://iamgold.com/

======

IAMGOLD's Mines

======== : Mine name ------- : Prod.oz : C-Cost : Resv.P+P (pct) : YrsCalc : YrsLeft : grade :

((gold)
Suriname : Rosebel Gold ---- : 0,382 K : $0,671 : 05,445 K (95 % ) : 14.25 : 19.00 : 1.0gt :
Suriname : Rosebel M+I ------ : 0,000 K : $0,??? : 07,428 K (95 %) : 00.00 : 00.00 : 1.0gt :
Burk.Faso: Essakane Gold -- : 0,315 K : $0,603 : 03,293 K (90 %) : 10.45 : 13.00 : 1.0gt :
Burk.Faso: Essakane M+I ---- : 0,000 K : $0,??? : 03,293 K (90 %) : 00.00 : 00.00 : 0.9gt :
Quebec-- : Doyon Div. Gold - : 0,004 K : $0,137 : 00,071 K (100%) : 17.75 : 01.00 : 12.gt :
Mali------- : Sadiola Gold ------ : 0,100 K : $1,076 : 02,138 K (41 %) : 21.14 : 04.00 : 1.8gt :
Mali------- : Sadiola M+I ------- : 0,000 K : $0,??? : 03,193 K (41 %) : 00.00 : 00.00 : 1.7gt :
Mali------- : Yatela Gold ------- : 0,029 K : $1,337 : 00,032 K (40 %) : 01.10 : 02.00 : 3.3gt :
======== =============== : ====== : ======
------------- : Producing P+P--- : 1,000 K : $X.XXX : 10,000 K : IAG share
------------- : Producing M+I --- : 1,000 K : $X.XXX : 10,000 K : IAG share

(other)

Quebec-- : Niobec Niobium --- : 0,100 K : $0,800 : 01,000 K (100%) : 1.0gt : 10.00 :

Development :

[drbubb]

IAMGOLD reports 2021 gold production in line with guidance, says CEO stepped down

Vladimir Basov Wednesday January 12, 2022

IAMGOLD (TSX: IMG) announced today that in 2021, the company achieved attributable gold production of 601,000 ounces, which is 8% lower compared to 2020 and in line with updated guidance of 565,000 to 605,000 ounces.

The company said that annual revenues were approximately $1.2 billion based on attributable gold sales of 590,000 ounces, in line with 2020. Fourth quarter revenues were approximately $295 million based on attributable gold sales of 152,000 ounces.

IAMGOLD noted that looking ahead, the company is fully focused on bringing Côté Gold into production and stressed that the company remains on track to commence commercial production in the second half of 2023.

Operationally, the company expects continued strong performance at Essakane, following a record year of production in 2021, supporting the turnaround at Rosebel and continued ramp up of Westwood.

The company added its consolidated cash costs and consolidated AISC for its three operating mines are expected to be between the 2021 updated guidance ranges of $1,115 and $1,150 per ounce sold and $1,395 and $1,435 per ounce sold, respectively, excluding the impact of potential net realizable value adjustments on long term stockpiles.

IAMGOLD said it ended 2021 with approximately $545 million in cash and cash equivalents, $42 million in restricted cash, $8 million in short term investments and $498 million in its undrawn credit facility.

Importantly, IAMGOLD also announced that Gordon Stothart, President and Chief Executive Officer, has stepped down from his role of President and Chief Executive Officer and has also resigned from the Board of Directors.

The company’s Board has engaged an executive search firm to immediately conduct a search for IAMGOLD'S next leader. In the interim, Daniella Dimitrov, the CFO and Executive Vice President Strategy and Corporate Development, has also been appointed President and Interim Chief Executive Officer, effective immediately.

> https://www.kitco.com/news/2022-01-12/IAMGOLD-reports-2021-gold-production-in-line-with-guidance-says-CEO-stepped-down.html

[drbubb]

Iamgold (IAG) ... ALL : 10yr: Jan.'15: 5yr: 2-yr : 6-mo : 10d / updated 14-Jan 2022 :

[drbubb]

IAG bounced back:   Thank goodness, I held my position, exercising some calls

3.17

-0.07

[drbubb]

Update : IAG: $3.36 + 0.03 .  Taking some partial profits now

 

[drbubb]

IAG . Iamgold... All-Log: 10yr: 5yr: 1yr / Last: $3.29

All-Log: 10yr: 5yr: 1yr / Last: $3.29

[drbubb]

IAMGOLD delivers 'good' results in Q1 2022, flags challenges at Côté gold project

Kitco News | 02:58PM

(Kitco News) - On Tuesday, IAMGOLD (TSX: IMG) announced that its attributable gold production in Q1 2022 was 174,000 ounces, up 21,000 ounces or 14% from the prior quarter, on continued strong performance from Essakane and improvements at Rosebel.

 

IAG STOCK Drops hard!  Down -0.65, -23.3% to $2.14  ... update

[drbubb]

IAMGOLD to sell its Boto gold project and surrounding exploration assets for $282 million

Vladimir BasovTue. December 20, 2022 12:06

(Kitco News) - IAMGOLD (TSX: IMG) (NYSE: IAG) announced today that it has entered into definitive agreements with Managem to sell, for aggregate consideration of approximately $282 million, the company's interests in its exploration and development projects in Senegal, Mali and Guinea.

Under the terms of the agreements, IAMGOLD will receive total cash payments of approximately $282 million as consideration for the shares and subsidiary/intercompany loans for the entities that hold the company's 90% interest in the Boto gold project in Senegal and 100% interest in each of: the Diakha-Siribaya gold project in Mali, Karita gold project and associated exploration properties in Guinea, and the early stage exploration properties of Boto West, Senala West, Daorala and the vested interest in the Senala Option Earn-in Joint Venture also in Senegal.

Maryse Bélanger, Chair of the Board of IAMGOLD and Interim President and CEO, commented, "The sale of our Bambouk assets to Managem is the culmination of a comprehensive strategic review and sale process. We are pleased that ownership of the Bambouk assets will be assumed by Managem, which has decades of mining development and operating experience in Africa and intends to advance these assets responsibly, for the benefit of all stakeholders. IAMGOLD and Managem will work closely towards a smooth transition of ownership.

"The proceeds of the sales, coupled with the financing agreement with Sumitomo announced last night, meet the remaining funding requirements for completion of construction at the Côté gold project, which is approximately 70% complete and on track for production in early 2024."...

> https://www.kitco.com/news/2022-12-20/IAMGOLD-to-sell-its-Boto-gold-project-and-surrounding-exploration-assets-for-282-million.htmlx

[drbubb]

IAG / IamGold. ... 5yr: 2yr: Ytd . Last:  $2.28 +0.46, +25.3%

6-7 weeks earlier:  October 19, 2022

Iamgold doubled upgraded to buy from underperform at BofA Securities MarketWatch

[drbubb]

Canaccord's analyst likes the Deal - has $3 Target

NAV accretive with less balance sheet stress.

• We estimate that the transaction is 11% accretive to our NAV7% which values
IAMGOLD's reduced interest in Côté at $1.11 billion vs. $1.0 billion previously. We
also reduce our discount rate on the project to 6%, from 7%, to reflect the lower
funding risk and our consolidated NAV has increased to $4.16/sh from $3.76/sh
previously (+11%).
• We still see a small funding shortfall in 2024, largely due to the company's gold
prepay arrangement coming due but we suspect that IAMGOLD should be able to roll
the prepay arrangement forward which should get it onside. We now forecast ND/
EBITDA peaking at 3.3x in 202E from 4.8x in 2023 previously.
• We forecast ~$600 million in Côté development capex remaining (IAMGOLD's share)
over 2023/2024, down from $995 million previously as a result of the $250 million
contribution from Sumitomo and Sumitomo picking up the incremental capex related
to the 10% additional interest.

• Management notes that the project remains on track for initial gold production
in early 2024 and in line with the updated schedule and cost estimate released
last quarter. The company also notes that it continues to advance other financing
alternatives to further improve liquidity and strengthen its balance sheet.

Valuation: Our C$3.00 target price is predicated on a 0.60x multiple (0.5x previously)
applied to our operating NAVPS estimate plus net debt and other corporate adjustments.
We have increased our NAV multiple to reflect reduced funding risk going forward.

Partial Comment

[drbubb]

Iamgold / xx. ... update: 10d/ Last: $2.69. ( 12 mo. Range: $0.92 to 3.77 )

IAMGOLD reports 63% increase in mineral resources at Nelligan gold project

Kitco News | 01:45PM

(Kitco News) - IAMGOLD (TSX: IMG) (NYSE: IAG) today announced an updated mineral resource estimate for the Nelligan JV project, located 60 kilometres southwest of Chibougamau, Quebec, Canada.

==

[drbubb]

IAMGOLD says its 2022 gold production exceeded revised guidance

Kitco News | Jan 17

(Kitco News) - IAMGOLD (TSX: IMG) (NYSE: IAG) reported today that its attributable 2022 gold production from consolidated operations of 713,000 ounces surpassed the top end of revised production guidance of 650,000 to 705,000 ounces.