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IAMGOLD Corporation (IAG)

NYSE - NYSE Delayed Price. Currency in USD
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2.8100+0.0200 (+0.72%)
As of 09:53AM EST. Market open.
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  • R
    Roy
    Does anyone here think there is more going on than just the price of gold going up?
  • u
    u
    I spoke to VP of investment relation today. He said they know we share holders are frustrated and new management and people also noticed things are not managed well and they will be fixing it with starting with CEO changed and some of the assets will be sold to focus on the ones they produce positive cash flow. I can only say after so many calls and emails , this is the first time I get a good feeling about the future progress of the company. He said their ultimate goal to clean the house, clean the assets dont bring positive cash flow and only focus on one or two big mine that will be profitable and deliver positive cash flow and increase the confidence from investor. He said they are aware of their track record and they will try to change that in the long run. He still feels , we might have rough days ahead till they get some of those changes implemented. I want to see this how it ride out to 2024-2025, since downside risk is there but not huge and upside potential is tremendous.
  • G
    G
    Y'all remember that 2017 $1200 gold & $7.00 IAG ?
    What in the world happened to this company?
    Wow!
    Currently holding 40,000 shares, and I'm NOT happy.
    This company should be flying, if it were properly managed.
  • r
    rick
    It's simple math people. At year-end 2020, IMG declared cash and cash equivalents of US$941mm.

    Per their most recent news release, they had $545mm of cash and cash equivalents. That means that cash and cash equivalents decreased by $396mm over exactly one year.

    In the their most recent news release, IMG noted that it had expended $360mm on Cote capex during 2021. You might notice that 360 is less than 396. That means that everything that the company did outside of building Cote consumed a net of $36mm.

    Gold averaged US$1,800/oz for the entirety of that period. Same price as it is today.

    Next year, what's going to be different at the existing operations? Oh, not much, except that their flagship mine, Essakane, will produce 20% less gold.
  • r
    rick
    Being generous for a sum of the parts:

    ($1,000) = net debt at end of Cote construction
    $200mm for Rosebel
    $50mm for Westwood
    $300mm for residual Essakane from mid-2023 onwards.
    $1,200mm for their 70% of Cote
    $50mm for Boto
    $20mm for everything else
    Zero net cash coming from operating mines in between as Rosebel + Westwood + Corporate is going to eat up all of Essakane's free cash flow.

    I get $820mm of market market cap in mid-2023. That’s 66% of the current market cap. That assumes everything comes in on time, on budget and that management is able to harvest any value whatsoever out of Rosebel and Westwood.

    A reminder: Rosebel and Westwood have been cash bonfires for years now. The stock looks richly priced to me. Our discussions do not move the stock but we might help each other. Can you provide me with some colour on why you think this stock should command a $1.25bn market cap?
  • h
    howie
    If someone thinks a retail investor like you and I can come up with a fair price, you are very naïve. I used to think I can add or delete some numbers and come up with a logic answer. I was so wrong. There’s no logic. Speculation and story telling.
    I think the oust of Gord is the best news in last 2 years. I don’t know how Daniella Dimitrov will perform. But Ilike the fact that she bought $150 K of share with her own money. Gord and other EVP kept selling. Can’t recall they bought any share with their own money. put your money where your mouth is.
  • h
    howie
    Resource Capital Fund bought a large chunk on Dec. 22 last year. RCF is in partnership with Sprott. Daniella Dimitrov came from Sprott. Something is brewing.
    Gord and Letwin were the obstacles for M & A. I think the door is open after he is gone.
  • h
    howie
    Resource Capital Fund VII L.P. has filed a 13D form with the Securities and Exchange Commission (SEC) disclosing ownership of 24,071,900 shares of Iamgold Corp. on January 03, 2022. Where did they get their shares? The holdings of the other institutional holders seem to remain the same. Did they buy over 24M shares on the open market?
  • R
    Ricky C
    Im done with this turd after 2 years. Sold my 100k shares at 2.85, shouldve gotten out a year earlier. Will go up when gold prices go up but so will any other miner. Will lose money until cote is producing even at gold 1800 and by the time cote starts they will be in about 500 mil in debt by then. Net cash will be gone by mid 2022 for cote. Westwood will lose as always. Rosebel will lose with the stratostrophic increase in aisc and no solid plan for it with 1.2 billion at least in sustaining capital now making the mine almost profitless at these levels . Essakane rising aisc as well and will always have security issues. You are basically paying 1.4 billion of its approximate market cap and 500 mil extra of debt for cotes future. Too many uncertainties, no conviction in their plans, no leadership, rising costs. Hope it does go up, even if its without me in it since i know a lot of people are underwater on this thing. Maybe i get back when cote is closer and if theres another big drop. Good luck to you all in here.
  • M
    MrSpock
    A group of homeless people could have run this company for the past few years and achieved the same results. We need a buyout from a competent company that knows how to mine gold at a profit.
  • h
    howie
    Daniella Dimitrov became EVP & CFO last March. VP investor relationship was replaced last summer. RCF reported on Dec. 22 of a large chunk of 24,071,900 shares, 5.1%. On Dec. 22, IAG announced executive project director for Cote Gold and Daniella Dimitrov has taken on an expanded role. I think Gord’s fate was decided at least a year ago.
    With the new big boy, the show will get better.
  • K
    Kafelis
    Rick I don’t think your logic behind your path to net debt number is correct. You are making an assumption that operating cash flow over the next 1,5years will be 0. I don’t think that’s a rational assumption at all.
  • F
    Fletch
    Shareholders need a one time dividend of 8% declared. Cost only $24M. Get Wall Street to notice.
  • A
    Anonymous
    Even a tiny rotation / allocation into gold will trigger this to move handsomely. "When investment flows into gold equities, it's like Niagara falls flowing through a garden hose". I think Mr. Mkt is ready for a small piece of this gold ball game plus get excited when the new leader is announced. GLTA!
  • b
    buddyonthebrink
    This move should prove very beneficial for this company. A change in leadership was sorely needed, so this is a great time to buy as the sale is on. Keep watching this will be a good.
    Bullish
  • J
    Jay
    New CEO needs to come from outside the company. Internal promotions are not what this company needs. It needs a shakeup.
  • F
    Fletch
    Wow up 7.5%!! Only 3 more days like this and I'll be back to even.
  • S
    Supreme
    How is DXY at 96.25??? The entire financial system and stock markets are a sham. The "my sharona cyris" is running rampant, inflation is soaring, yet 4.5 million people just quit their jobs. During these turbulent times, the markets are hovering near all-time highs even though companies are struggling with supply-chain issues and employee recruitment/retention problems.

    None of this adds up, but we can't find a single financial "expert" or investigative journalist to uncover any abnormalities.
  • D
    Dana
    F Gordon, all his internet press appearances with no plan! Let this stock drift from $6 to $2 under his misguided leadership.
  • A
    Anonymous
    CEO is GONE !! costs to the moon !! Now maybe they will get someone to "build back better"
    Neutral
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