IAMGOLD reports net loss of $75.3 million in third quarter
(Kitco News) - IAMGOLD (TSX: IMG) (NYSE:IAG) yesterday reported Q3 2021 net loss of $75.3 million or $0.16 per shareand adjusted net loss of $20.1 million or $0.04 per share attributable toequity holders
Additionally, IAMGOLD announcedthat the company produced 153 thousand ounces in Q3 2021, 4% less than a yearbefore (Q3 2020: 159 thousand ounces).
The company said that itsEssakane mine in Burkina Faso continued to deliver strong results and achievedattributable gold production of 106,000 ounces, in line with the prior quarterand an increase of 11% compared to Q3 2020, as increased throughput andimproved recoveries offset the impact of lower grades.
The company's Rosebel mine inSuriname performed in line with the updated plan and achieved attributable goldproduction of 40,000 ounces compared to 42,000 ounces a year ago.
In Canada, production at thecompany's Westwood mine continues to be impacted while the additional safetymeasures are implemented. Gold production in the third quarter of 7,000 ouncesis 13% lower than in the second quarter and 70% lower than a year before.
Importantly, the companypointed out that its total attributable production is trending towards theupper end of the 2021 guidance range and that the C??t?(C) Gold project remains ontrack for commercial production in the second half of 2023.
IAMGOLD is a mid-tier goldmining company operating in three regions globally: North America, SouthAmerica and West Africa. The company's operating mines include Essakane inBurkina Faso, Rosebel (including Saramacca) in Suriname and Westwood in Canada.The company also owns the C??t?(C) Gold construction project in Canada and the BotoGold development project in Senegal.
By Vladimir BasovFor Kitco News
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