GOLD: Iamgold generates Q1 revenue of $250M

[caption id="attachment_1003728553" align="aligncenter" width="485"] The Westwood mine near Rouyn-Noranda, Que., produced 15,000 oz. of gold in the recent quarter. (Image: Iamgold Corp.)[/caption] TORONTO – Iamgold Corp. sold 190,000 oz. of gold in the quarter ended March 31, 2019, for revenues of $251 million (all figures U.S. dollars), but still recorded a net loss attributable to equity  holders of $41.3 million. All-in sustaining costs per ounce sold were $1,086/oz. compared to a realized gold price of $1,308/oz. The company recorded a net loss of $41.3 million, but even a loss could not dampen the enthusiasm for Iamgold’s self-funding business model. President and CEO Steve Letwin said, "Despite a challenging first quarter, we are driving towards achieving a self-funded, self-sustaining operating model. This encompasses our goal to reduce costs and increase margins, preserve cash, fund site capital expenditures within site cash flows, and work safely and responsibly.” The company also maintained its full year 2019 production guidance of 810,000 to 870,000 attributable oz. and AISC of between $1,030/oz. and $1,080/oz. Iamgold’s main assets are the Westwood gold mine in Quebec, the Essakane gold mine in Burkina Faso, the Rosebell gold mine in Suriname, the Sadiola gold mine in Mali, and the recently sold share of the Yatela gold mine I Mali. The company is also developing the Cote gold project in Ontario and Boto gold project in Senegal. Find details of these projects and Iamgold’s exploration strategy at www.Iamgold.com.