Update on IAMGold and Hecla Mining

Article Excerpt

IAMGOLD $19.76 (Toronto symbol IMG; TSINetwork Rating: Speculative) (1-888-464-9999; www.iamgold.com; Shares outstanding: 374.7 million; Market cap: $7.4 billion; No dividends paid) has agreed to sell its 18.9% stake in the Tarkwa and Damang gold mines in Ghana to South African mining giant Gold Fields Ltd. for $667 million in cash. (All figures except share price and market cap in U.S. dollars.) That will leave IAMGold with 38% of the Sadiola mine and 40% of the Yatela mine, both located in Mali; 100% of the Mupane gold mine in Botswana, 90% of its new Essakane gold mine in Burkina Faso, 100% of the Doyon mine in Quebec; and 100% of the Rosebel mine in Suriname, South America. IAMGold also owns the Niobec niobium mine in Quebec, and has a 1% royalty interest in the Diavik diamond mine in the Northwest Territories. In the three months ended December 31, 2010, IAMGold’s cash flow more than doubled, to $0.59 a share, from $0.26…