Iamgold widens Q3 loss on lower sales
TORONTO (miningweekly.com) – Canadian gold producer Iamgold widened its net loss from continuing operations attributable to equity holders to $85-million, or $0.22 a share, in the third quarter, as lower sales volumes and prices resulted in lower revenues.
Excluding special items, the adjusted net loss, including discontinued operations, for the period was $46.9-million, or $0.12 a share, down from adjusted earnings of $200 000 for the comparable period a year earlier. Analysts had expected an adjusted loss of $0.09 a share.
Revenues from continuing operations were $207.6-million, down 28% year-on-year, as a result of lower sales volume at the Westwood mine, in Canada, and Rosebel, in Suriname, after output fell short of expectations.
Attributable gold output totalled 197 000 oz, down 12% year-on-year, owing to lower output at Westwood and lower grades at Rosebel and the Sadiola mine, in Mali.
All-in sustaining costs (AISC) declined by $88/oz to $1 027/oz in the quarter under review.
Iamgold reiterated its 2015 full-year output guidance of 780 000 oz to 815 000 oz of gold, as improved output from Essakane, in Burkina Faso, was expected to offset lower output at Westwood. The company expected AISC for the full year to be between $1 050/oz and $1 150/oz.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation