Both On Track For 1 Million Ounces Of Gold

Article Excerpt

IAMGOLD $8.21 (Toronto symbol IMG; SI Rating: Speculative) (1-888-464-9999; www.iamgold.com; Shares outstanding: 293.1 million; Market cap: $2.4 billion) has interests in eight operating gold mines: 100% of the Mupane gold mine in Botswana, 38% of the Sadiola gold mine and 40% of the Yatela gold mine, both located in Mali, 18.9% interests in both the Tarkwa and Damang gold mines in Ghana, 100% of the Doyon mine and the Sleeping Giant mine, both in Quebec, and 100% of the Rosebel mine in Suriname, South America. IAMGold also a 1% royalty interest in the Diavik diamond mine in northern Canada and 100% of the Niobec niobium mine in Quebec. It added these interests, as well as the Doyon, Sleeping Giant and Rosebel mines in the $1.3 billion all-stock takeover of TSXlisted Cambior Inc. in 2006. IAMGold also has development projects and exploration activities in Africa, North and South America. The company reported a 9.4% drop in total cash flow in the three months ended…