The Gold Report
Notable Quotes
"ICG has closed a CA$2.5M flow-through placement." (12/24/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report More >
"The exploration upside at MAG's Juanicipio project is substantial." (12/23/15) MAG Silver Corp. - Gwen Preston, Resource Maven More >
"AKG's management continues to deliver on its development milestones." (12/22/15) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities More >
"We are initiating coverage on KDX with a Buy rating." (12/21/15) Klondex Mines Ltd. - Don Blyth, Paradigm Capital More >
"VIT's Eagle is a shovel-ready, fully permitted, prefinanced gold project." (12/17/15) Victoria Gold Corp. - Tom Hayes, Edison Investment Research More >
IAG: 2010 Guidance Ahead of Expectations
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Precious Metals Weekly (01/25/2010)
"IAMGOLD 2010 production guidance ahead of expectations Last week, IAMGOLD reported Q4/09 production largely in line with our expectations. The company also provided 2010 production guidance of 940,000–1,000,000 oz compared to our estimate of 931,000 oz and consensus of 934,000 oz. Cash costs in 2010 are expected to average $490-$510/oz vs. our estimate of $500/oz ($484/oz using the company’s gold price assumption of $1,000/oz). Guidance indicates that IAMGOLD's strong operational performance in 2009 is expected to continue into 2010. In particular, 2010 is expected to be another good year for the flagship Rosebel mine, which is expected to produce 380,000-400,000oz in 2010 (vs. our previous estimate of 363,000 oz). Our target remains unchanged at US$24.50 based on approximately 1.40x our 5%/peak NAVPS estimate of US$17.35 (previously US$17.45). We maintain our BUY rating based on relative valuation and superior leverage to higher gold prices." |
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Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.
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