Business
IAMGOLD Reports Second Quarter 2020 Results
Toronto, Ontario--(Newsfile Corp. - August 5, 2020) - IAMGOLD Corporation (TSX: IMG) (NYSE: ...
About this update from Iamgold Corporation
[{"type":"text","content":"IAMGOLD Reports Second Quarter 2020 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 Unaudited Consolidated Interim Financial Statements for the six months ended June 30, 2020.Toronto, Ontario--(Newsfile Corp. - August 5, 2020) - IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (\"IAMGOLD\" or the \"Company\") reported its consolidated financial and operating results for the quarter ended June 30, 2020.\"IAMGOLD delivered solid operating results in the quarter, generating $72.4 million in operating cash flow and producing 155,000 ounces of gold. These results were achieved despite the temporary suspension of mining activities at Westwood and Rosebel, with both operations back online as of April 15 and July 24, respectively, and the anticipated continued impact of the global COVID-19 crisis,\" commented Gordon Stothart, President and CEO of IAMGOLD. \"During the quarter, we have taken significant, proactive steps at each of our operations to establish protocols enabling us to deliver on our long-term strategy, while prioritizing the health and safety or our workforce and host communities. I would like to commend our employees for their extraordinary dedication, perseverance, and professionalism during these unprecedented times.\"Mr. Stothart stated, \"On July 21, together with our JV partner, Sumitomo Metal Mining Co., we announced the decision to proceed with the construction of the Côté Gold Project, located in northern Ontario. Côté is a world-class deposit and is transformational to IAMGOLD's future, reducing overall operating costs, increasing total production, increasing the number of mines and bringing greater geographic diversity to our portfolio. Our strong financial position, with over $860 million in cash and short-term investments, coupled with operating cash flows from our existing mines, enable us to take this important step toward executing on our best-in-class growth pipeline.\" Mr. Stothart announced, \"After 13 years with the Company, Carol Banducci has advised us of her intention to retire from IAMGOLD on March 31, 2021. Carol has steadfastly seen the Company through a bull market, a bear market and several transitions. Her disciplined approach to financial management and success ...