IAMGOLD

IAMGold is looking to buy. Are you selling?

Reuters reports Canadian gold miner IAMGold is on the look-out for acquisitions and while it is not itself up for sale, its chief executive said on Friday the company represents good value right now.

IAMGold has in the past said interested in various stage projects, from exploration through to production and just over the last fortnight has put money into three South American juniors. IAMGold produces roughly 1 million ounces per year from operations in Africa and North and South America and sees bullion topping out at $2,000 an ounce this year or next from current levels around $1,790.

Gold Fields Ghana acquisition approved

Further to the announcement on 15 April 2011, Gold Fields announced that its shareholders have overwhelmingly approved the US$667 million acquisition of IAMGOLD Corporation's 18.9% stake in the Tarkwa and Damang gold mines in Ghana.

Of the 603 million shares (84% of total shares in issues) that were voted at a general meeting 93% were cast in favour of the transaction.

Leap in profits for Iamgold as gold production rises

Iamgold's Q4 profit jumps to $144.9 million as production rises 35%. Iamgold Corp said on Thursday its fourth-quarter profit rose as increased gold production and higher gold prices helped boost results.