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iamgold corp (IMG) Details

IAMGOLD Corporation explores, develops, and operates gold mining properties. The company also explores for silver, niobium, and copper deposits. It holds interests in six gold mines, and three niobium mine, as well as exploration and development projects located in Africa, South America, and Canada. The company was incorporated in 1990 and is headquartered in Toronto, Canada.

Founded in 1990

iamgold corp (IMG) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$881.5K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: C$454.5K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: C$539.4K
Senior Vice President of Project Development
Total Annual Compensation: C$430.6K
Senior Vice President of Exploration
Total Annual Compensation: C$336.4K
Compensation as of Fiscal Year 2013.

iamgold corp (IMG) Key Developments

Gold Bullion Development Corp. Announces Signing of Custom Milling Agreement with IAMGOLD

Gold Bullion Development Corp. announced that it has signed a custom milling agreement with IAMGOLD to process ore from the Granada gold property at their Westwood Mill facilities. The officers of both companies have approved this agreement. The signing of this agreement is significant for the company and its shareholders as an efficient, direct, well-defined path to commercial gold production using Granada ore via implementation of the 'rolling start' concept. The agreement provides for and delineates the terms as follows: Receipt of Gold Bullion ore from the Granada project to be processed in 50,000 to 70,000 tonne batches three times per calendar year at the Westwood site. The annual target is set at 192,000 tonnes. The agreement anticipates that gold doré bars will be poured at the IAMGOLD mill, then transported by secure service to the Royal Canadian Mint for refining, with the finished product then sold as bullion to Scotia Mocatta, a division of Scotiabank Global Banking and Markets (Bank of Nova Scotia). An initial three-year term with access to additional milling years subject to CAPEX investment in the mill by Gold Bullion. Contract commencement is subject to the following: Gold Bullion obtaining its Certificate of Authorization from the proper Quebec authorities for open pit mining operations at Granada; IAMGOLD obtaining its Certificate of Authorization from the proper Quebec authorities for the processing of Gold Bullion's ore at their Westwood site; Certain CAPEX and OPEX deposit payments prepaid by Gold Bullion due when both Certificates of Authorization have been granted. The Gold Bullion Operations team first goal is to ship a trial-milling batch of 30,000 tonnes for milling in October 2014 prior to winter freeze up. Subsequent milling will continue in April 2015.

Calibre Mining Announces 3400 Metre Drill Program on the Eastern Borosi Project, Nicaragua

Calibre Mining Corp. announced that the company and IAMGOLD Corporation have finalized the scope and budget of the 2014 diamond drilling program on the Eastern Borosi Project, Nicaragua. Highlights: The 2014 drilling program will begin with approximately 3,400 metres of diamond drilling with a total budget of $1.0 million. The remaining $500,000 of the first year's work commitment will allow for an additional 2,600 metres of drilling which will be prioritized following a review of the results. The planned drilling program will comprise an estimated 31 diamond drill holes totaling 3,400 metres designed to test approximately 3.0 kilometres of strike length of previously identified gold-silver bearing structures. Drill targets have been prioritized and are based on previous exploration including; surface mapping, exposures in small miner's working, historic underground development and drilling as well as soil and rock geochemistry and LIDAR surveying. Drilling will test a number of high priority gold-silver targets including; Guapinol, Riscos de Oro extension, Blag, California, Veta Vancouver, and Veta Toronto. Drilling is planned to commence in July, 2014. The Eastern Borosi Project includes the Riscos de Oro and La Luna NI 43-101 Inferred Mineral Resources which total 4.70 million tonnes grading 2.31 g/t Au and 34.99 g/t Ag containing 350,000 ounces of gold and 5.29 million ounces of silver.

IAMGOLD Corporation Provides Exploration Update on its Pitangui Project, Brazil

IAMGOLD Corporation provided an update from ongoing exploration activities at the company's 100%-owned Pitangui gold project located approximately 110 kilometres northwest of Belo Horizonte, the capital city of Minas Gerais State, Brazil. The project comprises 180.3 square kilometres of exploration licenses covering the Archean Pitangui greenstone belt where an estimated inferred resource of 4.07 million tonnes grading 4.88 grams of gold per tonne for 0.64 million contained ounces was recently reported for the Sao Sebastiao discovery. Assay results have been received for a further 27 diamond drill holes totalling 9,971 metres completed on the Pitangui project subsequent to the effective date of the maiden resource estimate described above. The 2014 diamond drilling program continues to confirm continuity of mineralization within the current Sao Sebastiao resource area and has also returned significant intersections from projected strike and plunge extensions of known mineralized zones to expand the potential limits of the deposit. The drilling results are provided in Table 1 below, and include the following highlights: Drill hole FJG-073: 4.9 metres grading 10.16 g/t gold; Drill hole FJG-075: 8.9 metres grading 5.83 g/t gold; Drill hole FJG-076: 6.3 metres grading 7.12 g/t gold; 13.3 metres grading 4.71 g/t gold; Drill hole FJG-078: 7.5 metres grading 9.73 g/t gold; and 4.5 metres grading 9.59 g/t gold.


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