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IAMGOLD (IAG -10%) shares sink after 2012 gold production of 830K oz. came in below the low end...

IAMGOLD (IAG -10%) shares sink after 2012 gold production of 830K oz. came in below the low end of its 840K-910K oz. guidance range. Clarus Securities cuts IAG to Hold from Buy, foreseeing risks with the commissioning of Westwood, optimizing Cote Gold and a "huge capex commitment... to maintain production levels that could impact [IAG]’s balance sheet and prevent it from undertaking other growth objectives."
Comments (4)
  • blueice
    , contributor
    Comments (3006) | Send Message
     
    It is what I have been saying for the past two years, most PMs miners can not make any decent money!
    23 Jan 2013, 11:32 AM Reply Like
  • Chancer
    , contributor
    Comments (2539) | Send Message
     
    Press release forecasts income of only $25,000 (production less cash cost) from the very low margin Cote acquisition. They will be lucky to breakeven on this bad purchase by IAG's new CEO. I predict someday they will dump the Cote mine at a huge loss.
    23 Jan 2013, 02:06 PM Reply Like
  • blueice
    , contributor
    Comments (3006) | Send Message
     
    OMG, we had this miner on our watch list but never made the purchase...

     

    Chancer, with your new information IAMGOLD is now IBEGONE....
    23 Jan 2013, 03:54 PM Reply Like
  • nicasurfer
    , contributor
    Comments (123) | Send Message
     
    it is a buy here. i have been really bearish on these guys read my last comments
    24 Jan 2013, 06:21 AM Reply Like
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