Topic: How To Invest

Power Growth Investor Hotline – Friday, December 23, 2022

Article Excerpt

IAMGOLD CORP., $3.34, is a buy. The company (symbol IMG on Toronto) owns 41% of the Sadiola gold mine in Mali; 90% of the Essakane mine in Burkina Faso; 100% of the Westwood mine in Quebec; and 95% of the Rosebel mine in Suriname. IAMGold continues to make moves to secure the financing it needs for the ongoing construction of a mine at its flagship Cote gold project. With the added funding, it’s now aiming for production to start up in early 2024. IAMGold holds 92.5% of the Cote gold project. That massive gold deposit is in northern Ontario, and it’s a joint venture with minority partner Sumitomo Metal Mining. The project is forecast to produce 460,000 ounces of gold annually for the first six years. It will have a 16-year mine life in total. In October 2022, IAMGold agreed to sell its 95% interest in Rosebel Gold Mines N.V. to China’s Zijin Mining Group Co. Ltd. The sale price is $360 million…