Topic: How To Invest

Power Growth Investor Hotline – Friday, October 7, 2022

Article Excerpt

IAMGOLD CORP., $1.51, is a buy for aggressive investors. The company (symbol IMG on Toronto) owns 90% of the Essakane mine in Burkina Faso; 100% of the Westwood mine in Quebec; and 95% of the Rosebel mine in Suriname. IAMGold also holds 92.5% of the Cote gold project. IAMGold reports that its Essakane mine, which is located approximately 330 kilometres northeast of Burkina Faso’s capital, Ouagadougou, continues to operate unaffected despite the evolving political situation in the country. On September 30, Burkina Faso military leader President Paul-Henri Damiba was deposed in the country’s second coup in a year, as army Captain Ibrahim Traore took charge, dissolving the transitional government and suspending the constitution. Captain Traore says that a group of officers had decided to remove Damiba due to his inability to deal with an armed uprising in the country that has worsened in the past nine months. Meanwhile, a new government is unlikely to disrupt operations at the Essakane mine. That’s because the government…