IAMGOLD $9.19 Toronto Symbol IMG

IAMGOLD $9.19 (Toronto symbol IMG; SI Rating: Speculative) (1-888-464-9999; www.iamgold.com; Shares outstanding: 293.8 million; Market cap: $2.7 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. IAMGold also has development projects and exploration activities in Africa, as well as in North and South America. The company reported a 105.6% rise in cash flow in the three months ended September 30, 2007, to $35.9 million or $0.13 a share, from $17.5 million or $0.06 a share (All figures except share price in U.S. dollars.) Revenues rose 159.3%, to $170.2 million from $65.7 million, largely due acquisitions. IAMGold expects to report total gold production in 2007 of 970,000 ounces. IAMGold’s exposure to African gold mines entails above-average risk. But the company has a proven track record on the continent, and high-profile partners. It also continues to add to reserves at its existing mines, and to advance its new mines into production. IAMGold is still a buy for aggressive investors.

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