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Place de cotation: Toronto Stock
Exchange (IMG)
IAMGOLD is a leading mining,
exploration, and development company. Its principal assets, located in
West Africa include, a 38% stake in the Sadiola Gold Mine, a 40% stake
in the Yatela Gold Mine, both located in Mali and an 18.9% stake in the
Tarkwa/Damang Complex in Ghana. The combined annual expected gold production
from these properties is 420,000 ounces. IAMGOLD also has a diverse royalty
portfolio, which includes a 1% royalty interest in the Diavik Diamond Project
in Canada.
The Company is currently
exploring highly prospective ground in Africa and South America.
IAMGOLD is listed on both
the Toronto Stock Exchange (IMG) and The American Stock Exchange (IAG)
IAMGOLD ANNOUNCES RECORD
FIRST QUARTER EARNINGS
HIGHLIGHTS:
Net earnings for the first
quarter of 2006 were a record $19.9 million or $0.13 per share compared
to $7.7 million or $0.05 per share for the first quarter of 2005.
Attributable gold production
for the quarter was 123,000 ounces at a cash cost, as defined by the Gold
Institute, of $271/oz, compared to 106,000 ounces and $273/oz respectively
for the first quarter of 2005.
Operating cash flow for
the quarter was $21.8 million, compared to $8.5 million for the first quarter
of 2005.
Average gold spot price
for the first quarter in 2006 was $554 per ounce in comparison to $427
per ounce for the same period in 2005.
On March 22, 2006, the acquisition
of Gallery Gold Limited was completed.
CONSOLIDATED FINANCIAL RESULTS
SUMMARY (US$000’s):
Three Months Ended
March 31, 2006 March 31,
2005
Net earnings $ 19,851 $
7,743
Operating cash flow $ 21,794
$ 8,533
Net earnings per share -
basic and diluted $ 0.13 $ 0.05
Operating cash flow per
share - basic and diluted $ 0.14 $ 0.06
Gold produced (oz) IMG share
123,278 106,403
GI cash cost (US$/oz)* $
271 $ 273
Average realized gold price
(US$/oz) $ 553 $ 427
* GI cash cost per ounce
is a non-GAAP measure. Please refer to the Supplemental Information attached
to the Management’s Discussion
and Analysis for a reconciliation to GAAP |
