Iamgold: Coté About To Become The Third-Largest Gold Mine In Canada

Bujon Capital
1.39K Followers

Summary

  • IAMGOLD owns a portfolio of three producing assets, consisting of Côté Gold in Ontario, Westwood in Québec and Essakane in Burkina Faso.
  • With an expected annual production of almost 500,000 ounces over an 18-year mine life, Côté Gold is about to become the third-largest gold mine in Canada.
  • IAMGOLD experienced significant cost overruns during construction, but Côté has now turned the corner after reaching nameplate capacity just a few days ago.
  • Given its location in Burkina Faso, Essakane is facing security concerns and significant political risks. The local government completed the nationalization of five gold mines earlier this month.
  • Following an important seismic event at Westwood in October 2020, mining rates have been reduced, and the situation appears to have stabilized, at least for now.
D’énormes camions à benne basculante dans une mine de cuivre à ciel ouvert au Pérou.

IAMGOLD's flagship asset is a 70% interest in the Côté Gold open-pit mine located in the Canadian province of Ontario.

tifonimages/iStock via Getty Images

Precious Metals: A Tiny Corner Within Global Markets

What is the link between IAMGOLD (NYSE:IAG) and New Gold (NGD) that I covered just a few days ago? The answer is Renaud Adams, who was at

This article was written by

1.39K Followers
For almost a decade, I held research analyst positions in various investment firms, mostly in Toronto. I started in sell-side research with a Canadian bank, then moved to a hedge fund, followed by a family office and then finished my career in wealth management. I was 20 on my first day on Bay Street. I will forever remember. I had worked so hard to get there. Getting my CFA and CAIA designations at 25 was another important milestone. I was a young man with a dream, wanting to make it big. However, life was about to teach me a painful lesson. Before conquering the world, a man must first conquer himself by going into the depths of his own abyss. Only then may he shed his naivety and become a man truly able to love.In the summer of 2020, the edifice I had built for myself in the city started to collapse. So many parts of my world crumbled one after the other that I saw death as a potential outcome. It is only at rock bottom that I found the cure to my existential crisis, and with the last breath of life that emerged from my ashes, I then created my own little paradise.For the last three years, I have been living in a yurt in the boreal forest, approximately 100 kilometres away from the closest paved road or grocery store. In a forest full of birds, just beside a lake full of fish. For water, I go to the creek. For heat, there is plenty of white birch and quaking aspen around. If I need anything in town, I have plenty of money for my needs. I am now 30 and as free as the birds in the skies, so what else can I ask for? I was supposed to be dead by now, so in all humility, and in all gratitude, I say thank you to this grandiose symphony we call life."Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moth and rust do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also." Matthew 6:19

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

About IAG Stock

SymbolLast Price% Chg
Market Cap
PE
Yield
Rev Growth (YoY)
Short Interest
Prev. Close
Compare to Peers

More on IAG

Related Stocks

SymbolLast Price% Chg
IAG
--
IMG:CA
--