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IAMGOLD Corp. Message Board

thestockmaven 48 posts  |  Last Activity: 19 hours ago Member since: Sep 5, 2005
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  • What is IAG worth?

    IAG only has about $600 million more in cash than LSG and produces like 700k more ounces per year. Plus Boto and Cote and waiting in the wings to be developed by a CEO/BOD team that contain heads exterior to sphincters.

  • Reply to

    LSG halted...

    by thestockmaven Feb 5, 2016 2:31 PM
    thestockmaven thestockmaven Feb 5, 2016 3:13 PM Flag

    Now LSG is saying buyout rumors are unfounded.

    Perhaps Letwin and the LSG CEO were spotted ice skating together on Cote Lake and false rumors began to fly.

  • thestockmaven by thestockmaven Feb 5, 2016 2:31 PM Flag

    There were rumors of IAG having interest in LSG a while back...

  • Illustrates what a disaster Westwood has been and the complete ineptitude of this management regime.

  • Reply to

    Great timing for Analysts as usual!

    by uniowner Feb 4, 2016 2:19 PM
    thestockmaven thestockmaven Feb 4, 2016 2:33 PM Flag

    Spot on!

    Eventually this loser will be kicked to the curb, I just hope he isn't allowed to destroy more of the company before it happens.

  • Reply to

    HMY

    by tikas2709 Feb 3, 2016 9:24 PM
    thestockmaven thestockmaven Feb 4, 2016 2:29 PM Flag

    His choice to gamble with shareholder funds on oil and currency hedges essentially wiped out (or will wipe out) almost 40% of the Niobec proceeds. In the meantime, no debt was paid down (except for a tiny $5M), Westwood became a colossal disaster after almost a billion in funding/delays/poor planning, the POG tumbled and Letwin et al went radio silent for months, the $600M Cote Lake is still collecting dust and being "de-risked", and somehow we still haven't heard a thing about Boto.

    And yet, this moron, responsible for EVERY poor aspect of this company, will be voted back with 95% approval and the stock will continue to trade at a micro fraction of the book value. And some dopey investors will argue that it's not the CEO's fault, which is completely laughable.

    He makes at least one devastating move every year. I hate to see what the next one will be.

  • Reply to

    HMY

    by tikas2709 Feb 3, 2016 9:24 PM
    thestockmaven thestockmaven Feb 4, 2016 1:35 PM Flag

    The longs on this board were very strongly in favor of that. Instead the moron CEO decided to lose $170 million on oil and currency hedges, making this company completely irrelevant for the next 3 years.

  • Reply to

    HMY

    by tikas2709 Feb 3, 2016 9:24 PM
    thestockmaven thestockmaven Feb 4, 2016 11:58 AM Flag

    The last time POG hit 1155 intraday, IAG closed at 1.77. HMY was 68 cents at that time. Then they smartly tossed their CEO into the garbage can.

    When the performance of IAG is worthy of praise, I'll be the first one to point it out.

  • Reply to

    HMY

    by tikas2709 Feb 3, 2016 9:24 PM
    thestockmaven thestockmaven Feb 4, 2016 9:51 AM Flag

    KGC and HMY are absolutely MURDERING IAG on a performance basis.

    We finally got a pop in gold and IAG is performing like a limp noodle in the same mold of its useless CEO who is STILL inexplicably employed.

  • Reply to

    ABX back to its August price level

    by liarspoker500 Feb 3, 2016 1:56 PM
    thestockmaven thestockmaven Feb 3, 2016 2:30 PM Flag

    IAG continues to under-perform in every imaginable way, except for its consistent ability to disappoint shareholders.

    POG up 8% YTD and this turd can only jump from 1.42 to 1.54 in that same time frame. When will the BOD and CEO be held accountable for this wretched stock performance?

  • Reply to

    Comex Registered Gold falls 73% in one day

    by uniowner Feb 1, 2016 2:01 PM
    thestockmaven thestockmaven Feb 1, 2016 9:18 PM Flag

    You could be right, but is it really going to make a difference?

    Shareholders are still facing a near $200 million hedge loss with no favorable remedy in sight. Prospects for Westwood have been pushed way back. Boto is years away from being relevant. Rosebel is pretty awful and Essakane is basically OK at best. Debt is still 600M+, interest payments still many millions a month, and Niobec cash will be exhausted much sooner than anyone could have possibly imagined, with absolutely nothing to show for it. I just don't see the impetus for this stock to rise significantly, unless we get bailed out by $1400+ POG.

    The removal of the CEO would at least signal to shareholders that the company is attempting to right the ship. I maintain we would shoot up to at least half book value (like most of the sector) if a replacement is named. I think, pathetically, that is the best chance this stock has to rise in the near future.

  • Reply to

    Comex Registered Gold falls 73% in one day

    by uniowner Feb 1, 2016 2:01 PM
    thestockmaven thestockmaven Feb 1, 2016 3:55 PM Flag

    Outside of skydiving without a parachute, I can't see any way Letwin adds value to IAG and its shareholders.

    If he did, it would be the first time ever.

  • 1/20/16 10 - Disposition in the public market -10,706 $1.84
    1/20/16 10 - Disposition in the public market -3,480 $1.84

    This loser is selling shares close to the all-time low. He can't join Letwin on the unemployment line fast enough.

    Background:
    Mr. Peter Gordon Stothart, also known as Gord has been the Chief Operating Officer of IAMGOLD Corp. since November 2007 and serves as its Executive Vice President. Mr. Stothart is responsible for all IAMGOLD operations, joint venture interests working with the entire senior management team. He served an operations leadership position for one of the largest global metals producers and has over 20 years of industry experience.

  • thestockmaven by thestockmaven Jan 26, 2016 10:19 AM Flag

    IAG traded as high as $1.59 that same day and now trades at $1.36.

    HMY has under $100 million cash vs IAG's $700 million cash
    HMY has a net debt level of $150 million vs IAG's net cash level of $100 million
    Revenue of IAG is about 40 million more, loss per share for IAG is about 14 cents less (though they both suck)

    YET

    HMY is worth 850M and IAG is worth a paltry 535M
    HMY trades at .53x book value, IAG trades at .20x book value

    And HMY is historically one of the worst performing stocks in this sector, but is absolutely eating IAG's lunch on a performance basis.

    IAG shareholders should not accept this putrid stock performance any longer. It is time for the BOD and CEO to go! How can this miserable stock performance continue to be accepted year-after-year by shareholders?

  • Reply to

    Stockfundmanerger, are you still in the game?

    by pennwestlong77 Jan 22, 2016 12:04 AM
    thestockmaven thestockmaven Jan 22, 2016 2:59 PM Flag

    I think Tuesday was the bottom as the entire sector inexplicably cratered. I have been around probably 2.5-3 years as well and I can't remember that level of decimation in the sector. I think half the stocks were down over 5% with a number of real big 10%+ losers (IAG) while gold was pretty much flat that day.

  • Reply to

    Stockfundmanerger, are you still in the game?

    by pennwestlong77 Jan 22, 2016 12:04 AM
    thestockmaven thestockmaven Jan 22, 2016 12:50 PM Flag

    Mr. Meatballs,

    You sold out of your mining positions near historical and all-time lows for a loss. I don't think you should comment on the knowledge of other posters. But if you want, you can congratulate me on buying at $1.16 earlier this week and $1.22 earlier this morning. I believe a few other longs purchased at $1.15 the other day as well. The ride upward will be fast and furious. I do hope you stick around to watch us "morons" get rich.

  • Reply to

    here is what will happen next

    by johnnys_meatballs Jan 20, 2016 10:07 AM
    thestockmaven thestockmaven Jan 20, 2016 1:43 PM Flag

    The gold industry is not going away, and we are literally two or three good days away from 1200 gold all of a sudden. I just wish this company was in better position to handle a quick uptick in gold prices. The AISC have not come down enough despite Letwin's constant self-praise about bringing costs down. And with Westwood's continued problems, we are in no position to increase output if gold prices happen to become favorable again. It truly is a shame that this company stuck with a putrid CEO in this environment, rather than one with vision and an above 75 IQ.

  • Reply to

    here is what will happen next

    by johnnys_meatballs Jan 20, 2016 10:07 AM
    thestockmaven thestockmaven Jan 20, 2016 11:37 AM Flag

    Company A:
    Revenue - 283M
    Cash - 104M
    Debt - 675M
    Valuation - 1.7B

    Company B:
    Revenue - 951M
    Cash - 700M
    Debt - 650M
    Valuation - 470M

    The only odd thing about RGLD (Company A) is that it is valued 4x more than IAG (Company B).

  • Reply to

    here is what will happen next

    by johnnys_meatballs Jan 20, 2016 10:07 AM
    thestockmaven thestockmaven Jan 20, 2016 10:25 AM Flag

    I don't think so. More than half the miners were down over 5% yesterday on nothing. Quite a few suffered 10%+ losses on nothing. Yesterday looked like the final flush in the sector.

    I added a few thousand to my stash at 1.16 yesterday and will be buying more before the close of this week as well. Anything under $1.50 is a steal.

  • Reply to

    who is the idiot, Letwin or you?

    by johnnys_meatballs Jan 20, 2016 10:07 AM
    thestockmaven thestockmaven Jan 20, 2016 10:19 AM Flag

    Or is the idiot you? After all, you sold for a loss and still hang out here 24/7.

IAG
2.00+0.13(+6.95%)Feb 8 4:03 PMEST