Business
IAMGOLD Reports 2019 Year-End Results
All monetary amounts are expressed in U.S. dollars, unless otherwise indicated. For more in...
About this update from Iamgold Corporation
[{"type":"text","content":"IAMGOLD Reports 2019 Year-End ResultsAll monetary amounts are expressed in U.S. dollars, unless otherwise indicated.For more information, refer to the Management Discussion and Analysis (MD&A) and Audited ConsolidatedFinancial Statements for the year ended December 31, 2019. Toronto, Ontario--(Newsfile Corp. - February 19, 2020) - IAMGOLD Corporation (TSX: IMG) (\"IAMGOLD\" or the \"Company\") reported its consolidated financial and operating results for the quarter and year ended December 31, 2019.\"2019 was a year of significant challenges for IAMGOLD. I would like to acknowledge the entire IAMGOLD team for how it addressed these challenges, including: realigning Westwood to suit its operating levels, working with our local stakeholders at Rosebel to address unauthorized mining and ensuring the safety of our team at Essakane,\" stated Gordon Stothart, President and COO. \"We are committed to becoming a lower cost and more geographically balanced producer within the next five years, while maintaining our culture of accountable mining through high standards of ESG practices - in fact, 2019 was a record year for health and safety at IAMGOLD, demonstrating significant improvement over a decade. With these goals in mind, we continue to optimize and de-risk our development projects, with Boto Gold's exploitation permit in hand and almost 50% of Côté Gold's detailed engineering now complete.\"Mr. Stothart continued, \"With our strong balance sheet and pipeline of growth projects complementing our core operating assets, we are optimistic about the future at IAMGOLD. Following the institution of our self-funding model, we are making progress in generating positive cash flows on a consolidated basis. We continue to grow our Resource base as a result of ongoing exploration success. We have announced promising exploration drilling results from district targets within our portfolio, including Gosselin, located just 1.5 kilometres from Côté, the Rouyn Gold Project, located near Westwood, and Karita in Guinea, which is on trend with Boto and Diakha-Siribaya.\"2019 Highlights• Attributable gold production of 762,000 ounces, cost of sales1 of $950 per ounce, total cash costs2 of $907 per ounce produced, and all-in sustaining costs2 of $1,124 per ounce sold.• Attributable gold sales were 759,000 ounces at a...