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IAMGOLD Corp. Message Board

  • no_need_no_stinkin_badges no_need_no_stinkin_badges Mar 3, 2013 9:07 PM Flag

    Takeover rumors are just fairy tale fantasy

    With price down to 6.55 and sinking further, many shareholders would lose money.
    Only management (officers and directors) make money when sold out near bottom.
    Posters are dreaming that another miner is seriously interested in IAG.
    Cote Cote is a distant low grade project nobody else wants.
    Few want mines in Africa today due to increasing instability and terrorist threat.
    No quality miner in right mind would buy IAG now.

    Maybe IAG gets a lowball offer when price falls to 4- from Mickey Dees: home of the golden arches.
    They will buy it for 2 Big Macs per share. LOL

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    • Foreign analysts conclude: ‘Iamgold is ripe for the taking’

      13/02/2013

      PARAMARIBO - Although the value of Iamgold (IAG) shares on the Toronto exchange have plummeted, there is no fear that expansion plans for Suriname might be in jeopardy. Foreign analysts on the contrary say that it is time for rival companies to take over. ‘Competitors’ shares are too expensive, so while Iamgold is cheap, one of the larger firms in the industry could easily take over.

      Even Newmont is a prospective buyer,' John Stephenson, IAG participant and senior VP at First Asset Investment Management, an independent business bureau in Canada, says.

      Value

      'This is a clear sign that the IAG shares are still valued very high,' Roy Shyamnarain, economist and fiscal expert tells de Ware Tijd. 'I know it's conjecture, but I expect IAG rivals to look at the company's state and surely identify Suriname as the jewel in the crown. With the cheaper shares a takeover becomes very attractive because the company is good for at least 10,000 kilograms annually,' the expert adds.

      The fiscal expert calls on the government to take advantage of the opportunity and invest in shares of the mother company. 'People have been complaining about our share of the pie. One man's gain is another man's loss, so this is the time to strike,' he adds.

      Surprise

      When Iamgold took over Cambior in 2008 it took Suriname by surprise and the government was unable to respond properly. A second takeover could pose some serious problems for the expansion plans in Suriname. By buying shares on the Canadian exchange Suriname might have a greater say in the operations.

      Stephenson anticipates that the shareholders will not be too happy that the company is performing poorly on the exchange. It could even lead to a hostile takeover. Since October 2012 the price per share has dropped by half. There are concerns that production costs might be higher than expected in the time ahead due to problems with the promising operations in Mali, Africa. Even flagship operations in Brokopondo might cost too much due to the heavy investments and the harder ore. The multinational also produces niobium, a chemical element. This could push up the shares with fifty percent

    • Gotta agree. I think the reason Letwing hasn't even mentioned a special div or buyback is that he knows this total POS has much further to sink and anything along those lines would just be temporary fixes and the descent would continue after its one up day, to ever lower lows.

      Sentiment: Strong Sell

 
IAG
2.45+0.09(+3.81%)11:56 AMEST

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