Riots won’t affect IAMGold

Article Excerpt

IAMGOLD $19.50 (Toronto symbol IMG; TSINetwork Rating: Speculative) (1-888-464-9999; www.iamgold.com; Shares outstanding: 374.8 million; Market cap: $7.3 billion; Dividend yield: 0.4%) reports that its Essakane mine in Burkina Faso in western Africa has not been affected by riots in the southern part of the country. In response to protests by soldiers, President Blaise Compaore fired his government and the heads of the country’s military and police. However, a new government is unlikely to disrupt the Essakane mine. That’s because the government owns 10% of the mine, and gets part of the profits. It also gets tax revenue from Essakane. IAMGold is still a buy. buy…