IAMGOLD 2007 Second Quarter Results
All amounts are expressed in US dollars, unless otherwise indicated.
SECOND QUARTER HIGHLIGHTS:
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Revenue was $167.3 million.
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Average gold realized price was $660 per ounce.
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Attributable gold production was 251,000 ounces.
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Gold Institute (GI) cash cost* of production was $408 per ounce.
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Operating cash flow was $14.1 million.
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An impairment charge at the Mupane mine totaled $93.7 million and results in a net loss for the second quarter of 2007 of $81.4 million or $0.28 per share. Excluding this non-cash charge, net earnings would have been $12.4 million or $0.04 per share.
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In June, the Company announced a revised resource estimate for the Westwood project which resulted in a 128% increase to the resource.
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Cash, short term deposits and gold bullion position as at June 30, 2007 was $189.5 million valuing gold bullion at market.
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Capital expenditures totaled $20.4 million.
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Corporate exploration expenditures were $14.3 million.
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In July, the Company initiated a $26 million expansion and optimization of its Rosebel milling operations to maintain throughput and improve efficiency.
CONSOLIDATED FINANCIAL RESULTS SUMMARY
|
Three Months Ended June 30, |
Six Months Ended June 30, |
(unaudited) |
2007 |
2006 |
2007 |
2006 |
(in $000's except where noted) |
$ |
$ |
$ |
$ |
Net earnings (loss) |
(81,370) |
29,838 |
(70,085) |
49,689 |
Net earnings (pre-impairment)* |
12,355 |
29,838 |
23,640 |
46,689 |
Net earnings (loss) per share |
|
|
|
|
- basic and diluted ($/share) |
(0.28) |
0.17 |
(0.24) |
0.30 |
Net earnings per share (pre-impairment) |
|
|
|
|
- basic and diluted ($/share) |
0.04 |
0.17 |
0.08 |
0.30 |
Operating cash flow |
14,062 |
24,276 |
30,714 |
46,070 |
Gold produced IMG share (oz) |
251,000 |
158,000 |
470,000 |
281,000 |
GI cash cost ($/oz)* |
408 |
290 |
412 |
282 |
Average realized gold price ($/oz) |
660 |
621 |
654 |
591 |
* Gold Institute cash cost per ounce is also a non-GAAP measure. Please refer to Supplemental Information
attached to the MD&A for a reconciliation to GAAP. Net earnings (pre-impairment) is a non-GAAP measure.
A conference call to review the Corporation's second quarter results will take place on Wednesday, August 15, 2007 at 11:00 a.m. EST. Local call-in number: 416-644-3421 and N.A. toll-free: 1-800-732-9303. This conference call will also be audiocast on our website (www.iamgold.com).
A replay of this conference call will be available from 2:00 p.m. August 15 to August 22, 2007 by dialing local: 416-640-1917, passcode: 21240381# and N.A. toll-free: 1-877-289-8525, passcode: 21240381#. A replay will also be available on IAMGOLD's website.
THIS PRESS RELEASE CONTAINS MANY FINANCIAL STATEMENTS. CLICK HERE TO VIEW ORIGINAL PDF VERSION OF THIS RELEASE.
FOR FURTHER INFORMATION CONTACT:
Joseph F. Conway
President & Chief Executive Officer
Carol Banducci
Chief Financial Officer
Tel: (416) 360-4710
North America Toll-Free: 1 (888) IMG-9999
Fax: (416) 360-4750
Renmark Financial Communications Inc.
John Boidman : jboidman@renmarkfinancial.com
Henri Perron : hperron@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com
Please note:
This entire press release may be accessed via fax, email, IAMGOLD's website at www.iamgold.com and through CCN Matthews' website at www.ccnmatthews.com. All material information on IAMGOLD can be found at www.sedar.com or at www.sec.gov. If y
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VanEck Vectors Global Alternative Energy ETF
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PRODUCTEUR |
CODE : IMG.TO |
ISIN : CA4509131088 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
IAMGOLD est une société de production minière d'or basée au Canada. IAMGOLD est productrice d'or, d'argent, de diamants, de niobium, de plomb, de rare earth et de zinc au Botswana, au Canada, au Ghana, au Mali, au Perou, au Suriname, en Afrique Du Sud, en Equateur, en Guyana, en Indonesie et en Tanzanie, en développement de projets d'or au Burkina Faso, en Equateur et en Guyane Francaise, et détient divers projets d'exploration au Canada, au Honduras, au Perou, en Afrique Du Sud et en Equateur. Ses principaux projets en production sont OMAI MINE en Guyana, MOUSKA MINE, PORCUPINE, SLEEPING GIANT, DOYON, NIOBEC et GRAND DUC au Canada, YATELA et SADIOLA au Mali, MUPANE au Botswana, DAMANG PROJECT, TARKWA et TEBEREBIE au Ghana, ROSEBEL au Suriname, ZARUMA en Equateur, ARDO MINE en Afrique Du Sud, BUCKREEF en Tanzanie, RAWAS GOLD PROJECT en Indonesie et TAMBORAQUE au Perou, ses principaux projets en développement sont ESSAKANE au Burkina Faso, CAMP CAIMAN en Guyane Francaise et QUIMSACOCHA PROJECT en Equateur et ses principaux projets en exploration sont BAMBADJI au Senegal, TEX-SOL, LESPERANCE, CREVIER et WESTWOOD au Canada, ALAMOUTALA (SADIOLA II) et SIRIBAYA au Mali, GILT EDGE MINE & ANCHOR HILL en Equateur, PODEROSA MINE au Perou et VUELTAS DEL RIO / EL ZAPOTAL au Honduras. IAMGOLD est cotée au Canada, aux Etats-Unis D'Amerique, en Australie et en Allemagne. Sa capitalisation boursière aujourd'hui est 316,9 millions (230,6 millions US$, 210,7 millions €). La valeur de son action a atteint son plus haut niveau récent le 28 avril 2006 à 9,98 , et son plus bas niveau récent le 30 septembre 2022 à 1,27 . IAMGOLD possède 47 442 200 actions en circulation. |