Topic: Growth Stocks

Stock Pickers Digest Hotline – Thursday, March 24, 2016

Article Excerpt

IAMGOLD CORP., $2.76, symbol IMG on Toronto, has a joint venture with Calibre Mining (symbol CXB on Toronto) to explore the Eastern Borosi silver/gold project in Nicaragua. The partners plan to spend $1.5 million U.S. this year on a 5,500-metre drilling program. They have already completed 11,400 metres of drilling since they formed their joint venture in May 2014. The drilling results have so far included several high-grade mineral showings. They include a 12.9m drilling section that graded at a high 8.73 grams per tonne of gold and 11.5 grams per tonne of silver. Under the terms of the joint venture agreement, IAMGold will earn a 51% stake in the project if it spends $5 million U.S. on exploration and pays Calibre $450,000 U.S. in cash over a three-year period. It can earn another 19% stake by spending an additional $5 million U.S. and making another payment of $450,000 U.S. over a second three-year period. IAMGold already holds interests in five operating mines…

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