Business
IAMGOLD Achieves Target Production and Strong Gold Margins in the First Quarter 2020
Toronto, Ontario--(Newsfile Corp. - May 4, 2020) - IAMGOLD Corporation (TSX: IMG) (NYSE: IAG)...
About this update from Iamgold Corporation
[{"type":"text","content":"IAMGOLD Achieves Target Production and Strong Gold Margins in the First Quarter 2020All monetary amounts are expressed in U.S. dollars, unless otherwise indicated. For more information, refer to the Management Discussion and Analysis (MD&A) and Unaudited Consolidated Interim Financial Statements for the three months ended March 31, 2020.Toronto, Ontario--(Newsfile Corp. - May 4, 2020) - IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (\"IAMGOLD\" or the \"Company\") reported its consolidated financial and operating results for the quarter ended March 31, 2020.\"IAMGOLD benefited from strong revenues on higher gold prices in the quarter, generating $44 million in operating cash flow, notwithstanding the rapid onset of the COVID-19 crisis toward the end of the quarter,\" commented Gordon Stothart, newly appointed President & Chief Executive Officer of IAMGOLD. \"Our gold margins improved 45% from one year ago, with production on plan, but lower sales volumes. We made good progress on waste stripping at Essakane, and are on track to achieve our 2020 run rate at Saramacca in the second half of the year, while Westwood has been steadily achieving production and cost targets. In response to the global COVID-19 crisis, the IAMGOLD team has proved both agile and resilient, drawing upon our deep bench strength to manage efforts at each of our locations, and taking a collaborative approach to government and community relations.\"Mr. Stothart stated, \"I am also very pleased to announce that we have promoted Bruno Lemelin to the role of Senior Vice President, Operations & Projects, with oversight of all operational and project development activities across the organization, and Oumar Toguyeni to the role of Senior Vice President, International Affairs & Sustainability, with the primary objective of managing IAMGOLD's relationships with our overseas host governments and other stakeholders in West Africa and South America. Both have extensive experience across IAMGOLD's operations and they bring additional leadership, technical and stakeholder engagement skills to our executive leadership team.\"\"IAMGOLD has an exciting future, with a great foundation of existing operations, a superior balance sheet and one of the best growth portfolios of development assets and exploration projects in the industry,\" continued Mr. Stothart. \"All of...