Iamgold Continues to Work Through Difficult Portfolio Transformation, but Its Potential Is Growing
Iamgold reported a decent third quarter that saw attributable production rise 3% and all-in sustaining costs, or AISC, fall 7% over the prior-year quarter. AISC now sits at $969 per ounce, which is still a bit high among the companies we cover, but Iamgold will benefit from the boost to free cash flow that lower costs will bring. The company maintained its full-year production outlook but lowered the high end of its AISC outlook by $40 per ounce due to lower capital spending. The company now exp...IAMGold is engaged in the exploration for, development and operation of gold mining properties, and the operation of a niobium mine.
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