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Tag: NYSE:IAG

  • IAMGOLD (IAG) Stock Rallies On Positive Market Response

    IAMGOLD (IAG) Stock Rallies On Positive Market Response

    Shares of IAMGOLD Corporation (NYSE: IAG) experienced a notable surge following the company’s announcement of a key regulatory filing. At the time of the latest market check, IAG stock was trading at $6.57—up 12.99%—as investor sentiment responded positively to the release of a comprehensive technical report related to one of the company’s most promising assets.

    Nelligan Gold Project Sees Substantial Resource Growth

    IAMGOLD officially filed its “NI 43-101 Technical Report on the Nelligan Gold Project, Québec,” dated April 2, 2025. Prepared by SLR Consulting (Canada) Ltd., the report outlines significant growth in mineral resources at the 100%-owned Nelligan site.

    As of December 31, 2024, the project boasts 3.1 million ounces of gold in the Indicated category within 102.8 million tonnes at an average grade of 0.95 grams per tonne (g/t Au). Inferred resources have also increased to 5.2 million ounces in 166.4 million tonnes at 0.96 g/t Au—representing a 56% and 33% rise in Indicated and Inferred ounces, respectively, over the previous year.

    Broader Updates to Global Resource Portfolio

    In addition to Nelligan, IAMGOLD reported updated figures across its broader portfolio. With Measured and Indicated Resources at 26.7 million ounces, a 3% increase from the previous year, the company’s Proven and Probable Reserves currently stand at 10.7 million ounces of gold.

    The Inferred Resource category rose by 27% to 12.8 million ounces. At Essakane, Mineral Reserves increased 5% despite depletion, while Côté saw a 4% reduction due to ongoing drilling. Meanwhile, Westwood maintained its reserve base near one million ounces.

    Strategic Focus on Exploration and Expansion

    Looking ahead, IAMGOLD has set an ambitious target of 45,000 metres of drilling in 2025 at its Côté and Gosselin properties. IAG aims to convert Inferred resources into Indicated ones, particularly in the Gosselin zone, while evaluating additional extensions and breccia zones at depth.

    The revised mining plan and updated Mineral Reserve and Resource estimate, which are anticipated in 2026, will be supported by these activities. With Nelligan emerging as a possible cornerstone project for future development, IAMGOLD’s (IAG) strong position in the global gold industry is further reinforced by its ongoing exploration success and strong reserve growth.

  • Here’s why IAMGOLD Corporation (IAG) stock’s share-price plunged

    There was a decline in the share price of IAMGOLD Corporation (IAG) by -9.79% and were trading at a stock price of $2.54. IAG’s stock volume stayed the same at 4.97 million shares, however, this was higher than the average volume of the past 50 days which was 3.96 million shares. Over the last 12 months, there has been a decline in shares of IAG by -41.09%, and the last week they have decreased by -4.42%. IAG’s stock has declined by -18.79% over the last three months and in the last six months, the stock’s value has decreased by -19.48%. The outstanding shares of IAMGOLD stand at 475.80 million and their current market value is $1.42 billion.

    IAMGOLD Corporation at a glance

    IAMGOLD Corporation, headquartered in Toronto, Canada, is a developer, operator, and explorer for gold mining properties in three regions: Western Africa, North and South America. IAMGOLD is developing high potential mining districts that help them in developing, operating, and exploring projects. Its operational mines comprise of the Westwood mine (Quebec, Canada), the Essakane mine (Burkina Faso, West Africa), and the Rosebel mine (Suriname, South America). Some of its development and exploratory projects are the Diakha-Siribaya gold project (Mali), the Cote gold project (Ontario) and the Boto gold project (Senegal), and various other countries located in America and Western Africa. IAMGOLD is estimated to employ 5,000 people and commits itself to maintain the culture of accountable mining by following high social and environmental standard practices.

    IAMGOLD reports second Quarter financial results for 2021

    The Essakane mine had produced strong and promising results of the second quarter with high gold production in spite of the fact that there were numerous challenges in ore processing with high graphitic content. The production guidance has been increased for the Essakane project which will reflect higher production in the first two quarters of 2021.
    On the other hand, the Westwood mine required additional safety measures because of which the production guidance for Westwood 2021 had to be reduced to reflect this.
    Due to difficult operating conditions, mining activities in the Rosebel mine were impacted in the second quarter, which was caused by heavy rainfall. In addition to the operating conditions, there was also a significant increase in COVID-19 cases as there had emerged a new variant in Suriname during the second quarter. The social impact of this greatly affected the projects and operations. The Guidance for Rosebel were adjusted downwards due to the said reasons.

    The company has summarized the results preliminary for second-quarter operations and also updated the 2021 guidance set on certain metrics. The changes in guidance have been made based on the first-half performance of 2021 and successive efforts for developing an updated outlook for the latter half of 2021.
    The full-year assumptions for the updated full-year guidance 2021 included the $65 average crude oil price per barrel and average realized gold price of $1,745 per ounce with a EUR: USD exchange rate of 1.2 and USD: CAD exchange rate of 1.22.
    The production guidance for the overall company has been reduced mainly due to the reduced actual production in Rosebel and Westwood mines, which was somewhat counterbalanced by high actual production in Essakane mine for the first half of 2021. Total per-ounce costs guidance had been increased which reflected lower total company-wide attributable guidance. The company, in accordance with IFRS, is trying to determine any kind of impairment for the Westwood mine and that it need adjustment or not.