Seismic Activity Forces Iamgold to Reassess Westwood’s Mine Plan; Lowering Fair Value Estimate
Iamgold produces about 800,000 to 900,000 ounces of gold a year, one of the smallest gold miners under our coverage. Production stems mainly from three mines, which magnifies the impact on our companywide fair value estimate should any individual mine run into problems. Unfortunately, this has come to pass in early 2019.Iamgold’s Westwood mine in Canada experienced increased seismic activity, leading to a 63% year-over-year decline in production to 15,000 ounces. This appears to be a longer-ter...
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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