IAMGOLD / IMG, IAG (TSX, NYSE)

In the precious metals patch, HSBC was busy changing ratings on a slew of miners, due mainly to recent stock price movements. Agnico-Eagle Mines (AEM), AngloGold Ashanti (AU) and Royal Gold (RGLD) were all upgraded to overweight from neutral.

The firm downgraded shares of Buenaventura (BVN) and Harmony Gold to neutral from overweight. Iamgold (IAG) was dinged down to an underweight rating.

Metco Acquires 100% of the Galinee Property and Further Consolidates its Position in the Matagami Mining Camp

MONTREAL, QUEBEC, May 24, 2007 (MARKET WIRE via COMTEX) -- Metco Resources Inc. ("Metco") (CA:MKO) is pleased to announce the signature and ratification on May 16, 2007, of a letter of intent to enter into a sale and purchase agreement with IAMGOLD Corporation ("IAMGOLD"), whereby Metco will purchase from IAMGOLD all its titles, rights and interests in the Galinee property located in the Matagami mining camp for one (1) million fully paid and non-assessable treasury shares of Metco and the assumption by Metco of the underlying royalty (NSR) payable to Newmont. This agreement is subject to regulatory approval.

The Galinee Property is contiguous to the Du Dome-Matagami property (Metco 50%-SOQUEM 50%) to the west and comprises a total of 217 claims covering 3,451 hectares. A portion of the property (137 claims or 2,171 ha) is subject to a NSR payable to Newmont based on the gold price (1.5% if gold is $350/oz or less and 2.0% if gold is over $350/oz).
Metco had just completed its commitment to spend $1.3 million in cumulative exploration expenses over three years, thus earning a 50% interest in the property. The option to earn the interest was granted to Metco by Cambior Inc. (now IAMGOLD) on February 16, 2005. This new agreement gives Metco a 100% interest in the property in lieu of its 50% earned interest. During the term of the option agreement, exploration was conducted under the direction and management of IAMGOLD, which is now finalizing a updated report on the property. A large portion of the Galinee property remains unexplored.

...

TORONTO, Jun 12, 2007 (BUSINESS WIRE) -- Dhanoa Minerals, Ltd (DHNA) (FWB:D7Z) today announced to shareholders that the company's stock is significantly undervalued compared to local competitors that are situated in the same mineral-rich region in southern Ecuador.
"In the mining industry, nearology is a very useful analytical tool that is used to determine the potential viability of a property," said Mr. Lee Andrew Balak, president of Dhanoa Minerals, Ltd. "Nearology states that if a mine is surrounded by heavy producers with substantial deposits, then similarly substantial findings can be expected. Such significant findings have already been confirmed at our newly acquired properties."
The company plans to achieve production levels of 100,000 ounces of gold for the first year of production and 250,000 by year two. At a gold price of $680 per ounce, this would translate to $68 million and $170 million in revenues, respectively.
Dhanoa's three mines (Bonanza, Guanache, and Mollopongo) sit on the western end of the Ecuadorian metallurgical gold belt, which holds over 10 Million ounces of gold. A recent assay by an independent geologist confirmed samples of up to 300 Ag g/tonne at the company's properties.
Just east of Dhanoa Minerals' properties is the Quimsacocha Project owned by IAMGOLD (IAG: iamgold corp com) $7.73, which has reported reserves of almost three million ounces of gold and twenty million ounces of silver.
Adjacent to the North, are the Gaby and Papa Grande deposits owned by International Minerals Corporation (CA:IMZ) $5.28, with an historical resource production of five million ounces of gold. "We are surrounded by substantial producers in an area that has historically been known as a significant gold and silver producing region," says Balak. "We believe that our stock is significantly undervalued, and that the current share price Dhanoa represents a significant investment opportunity."
Other local competitors include major producers such as Aurelian Resources, Inc. (CA:ARU) $29.01, Corriente Resources, Inc. (TQ: cash technologies inc com) $3.90 (TSX:TQ) $4.32, and Dynasty Metals and Mining (CA:MM) $5.28.
About Dhanoa Minerals Ltd.
'Dhanoa' is a production stage company formed for the purpose of acquiring, exploring, and developing natural resource properties. Activities during the production and exploration stage include further development of the Company's business plan and raising capital. The Company has recently initiated a new program to evaluate undervalued assets for potential addition to its mineral claim portfolio.

TORONTO, ONTARIO, Jun 13, 2007 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG) (IAG: iamgold corp com) (BSE: IAMGOLD) is pleased to announce results of an additional 12 holes from its Westwood underground exploration program, located near the Company's Doyon infrastructure within the Cadillac belt of the Abitibi region of northern Quebec. These results confirm the existence of 3 mineralized zones on the west side of the Bousquet fault; Zone 2 Extension, North Corridor and Westwood, as previously announced in a press release dated January 17, 2007. Highlights from these new zones include an intersection of 4 metres averaging 38.1g/t Au (hole R14208-06) and a one metre intersection averaging 102.3g/t Au and another one metre section averaging 6.7% zinc (hole R14219-06).
"There is tremendous potential within this camp. These results confirm the extension of the mineralized zones on the west side of the Bousquet fault," stated Joseph Conway, President and CEO. "Most of the intercepts in this campaign have shown visible gold and continue to return high gold grades. There are four drill rigs currently running on this project and results at depth are very interesting. We expect to complete an updated resource shortly."
Zone 2, in its occurrence close to the Doyon fault, was mined in the past as part of the open pit operation at Doyon, whereas both the Westwood and the North Corridor zones were identified in 2004 to the east of the Bousquet fault by a surface drilling program and based on 2004 estimates contain an inferred resource of 1.5 million ounces. The extension of these zones is significant and will have a positive impact on the potential future development of this project
The new drill results represent approximately 12,500m of drilling from January to May. The exploration program in this area consists of 25,000m of drilling and a 1,000m advancement of the exploration drift. In 2007 over $US 5 million will be spent on this program to develop the resource and the drift. The significant results for each zone are presented in Table 1. Additional information is shown in the plan view in Figure 1, the longitudinal sections presented in Figures 2, 3 and 4, and the cross section in Figure 5, which are also available on the Company's website: http://www.iamgold.com.
As a result of the success in this program, the Company's Project Development group has undertaken a scoping study to evaluate options on further development of this project. Results from this scoping study are expected in August.

DALLAS, Jun 18, 2007 (BUSINESS WIRE) -- A new research update has been issued on Sierra Gold Corp. (SGCP : sierra gold corp new com) by Beacon Equity Research Analyst, Lisa Springer, CFA.
The full report is available at http://www.BeaconEquityResearch.com.
Anyone interested in receiving alerts regarding Sierra Gold Corp. research should email members@beaconequityresearch.com with "SGCP" in the subject line.
In the report, the analyst writes, "Sierra Gold is an emerging player in the gold and diamond mining industry. Sierra Gold owns the mining rights of Northern Star Resources Limited, which has mining properties covering 40 square kilometers in one of Sierra Leone's richest alluvial gold mining fields. Extensive assaying conducted by the Company suggests the presence approximately 936,000 ounces of high grade gold. At gold prices of $659 per ounce, this suggests the value of gold reserves exceeds $616 million."
Other companies in the gold production market include AngloGold Ashanti Ltd (AU : anglogold ashanti ltd sponsored adr) , IAMGOLD Corp (IAG : iamgold corp com) , Meridian Gold Inc (MDG : Meridian Gold Inc) , and Rangold Resources (NASD: GOLD).

TORONTO, ONTARIO, Jun 19, 2007 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG: news, chart, profile) (IAG : iamgold corp com) (BSE: IAMGOLD) is pleased to announce a revised resource estimate at the Westwood exploration project located on the Cadillac Break in the Abitibi region, 40 km east of Rouyn-Noranda in the Bousquet township in northern Quebec, close to the Company's Doyon operation. The estimate is based on close to 140,000 m of drilling in 182 drill holes, and includes drilling up to and including the most recent results press release dated June 13, 2007. The resource estimate identifies an inferred resource of 14.1 million tonnes of ore at an average grade of 7.3 g/t Au indicating 3.3 million ounces of gold.
This revised resource estimate shows a 96% increase in tonnage, 16% increase in grade with a 128% increase in ounces of gold from the previous undiluted resource estimate released in 2004. Since that time, the on-strike extension of three zones has resulted in a significant increase in the inferred resource. The gold mineralization has not been completely delimited, and is open at depth and along strike.
"We are very pleased with the more than doubling of this resource and because of the potential size, we are now looking at Westwood as a new project," stated Joseph Conway, President and CEO. "Much of the prospective area within this camp has not yet been drilled, particularly at depth and we expect continued positive results. In August, we will complete a scoping study on the viability of sinking a shaft from surface to access this mineralization, a step closer to realizing this component of our growth potential."
The resource estimate was calculated using information from 126 surface and 56 underground diamond drill holes within a 2.5 kilometre corridor between the Doyon Mine and the eastern limit of the Company's property. The new resource estimate includes drilling from the Westwood and North Corridor zones, the extension of these zones, and the Zone 2 extension west of the Bousquet fault. The distance between drill holes varies from 100 to 200 metres. A 40 g/t Au top cut was used in the estimation, tonnages were based on densities of 2.85 to 2.90 tonnes / cubic metre and the minimum true width used in the estimation is 3.0 metres. Table 1 presents the resource at various cut off grades.
Table 1
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Cutoff Tonnes Grade Gold Ounces
(g/t) (000's) (g/t Au) (000's)
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3.0 14,097 7.3 3,313
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4.0 11,449 8.2 3,013
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5.0 8,996 9.2 2,666
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The 2007 Westwood program is estimated at more than US$5 million to advance the exploration drift and complete 25,000m of drilling to further explore and define the resources. This estimate is a component of the Scoping Study initiated by the Company's Project Development group to evaluate the economic potential of this resource. Results from this study are expected in August, 2007.
Additional information such as a cross section of the area, collar hole drill locations and various long sections, can be obtained at the Company's website: http://www.iamgold.com.
Technical Information and Qualified Person/Quality Control Notes
The mineral resource estimates contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101").
The drilling program, attributed in this release, was carried out by IAMGOLD employees, under the supervision of Ms. Nicole Houle, Geologist - Doyon Division. Ms. Houle is a qualified persons (as defined by National Instrument 43-101) with more than 20 years of experience in mine and exploration geology. The "qualified person" responsible for the resource estimate for resources at The Westwood Project, is based on information prepared under the supervision of, or has been reviewed by Elzear Belzile, Manager, Mining Geology, a geologist, an employee of IAMGOLD Corporation and is the "qualified person" for the purposes of National Instrument 43-101 with respect to the mineralization being reported on. The technical information has been included herein with the consent and prior review of the above noted qualified persons. The qualified persons have verified the data disclosed, including sampling, analytical and test data underlying the information or opinions contained herein.

Iamgold names Carol T. Banducci as CFO, effective July 3 - MarketWatch

TORONTO, ONTARIO, Jun 26, 2007 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG) (IAG: iamgold corp com) (BSE: IAMGOLD) is pleased to announce the appointment of Carol T. Banducci as the Chief Financial Officer ("CFO") effective July 3, 2007. Ms. Banducci brings more than 15 years of senior financial management and leadership experience in multi-divisional and multi-facility environments, and will join IAMGOLD after driving financial improvement and integration initiatives of a leading building products manufacturer. Ms. Banducci will take responsibility for the strategic direction and leadership of the finance group as a result of the retirement of current CFO, Grant Edey.
Grant Edey joined IAMGOLD in 2003 as part of the merger with Repadre Capital, where he was VP Finance and CFO beginning in early 1996. Mr. Edey will retire in August 2007 after a period of transition with Ms. Banducci.
"Grant has been a great asset for the Company. I thank Grant, on behalf of the Company and Board of Directors, for his outstanding service and contribution to IAMGOLD," commented Joseph Conway, President & CEO. "I also welcome Carol to our team. Her leadership and new perspective will further enhance the Company's management depth and I look forward to her contribution."

Last Update: 10:08 AM ET Jul 9, 2007

MONTREAL, QUEBEC, Jul 09, 2007 (MARKET WIRE via COMTEX) -- Cadiscor Resources Inc. ("Cadiscor") (CA:CAO) (FRANKFURT: DQN) is pleased to announce that it has signed today a Purchase Agreement with a wholly owned subsidiary of IAMGOLD Corporation, ("IAMGOLD"), to acquire a 100% interest in the Flordin Property. The property is located within the Harricana-Turgeon volcano-sedimentary assemblage of the Northern volcanic zone of the Abitibi Greenstone Belt, Province of Quebec. The Flordin property consists of 40 ground-staked claims in Desjardins Township, which covers a surface area of 590.9 hectares. It includes the Flordin and Cartwright gold deposits. It adjoins to the east the Cameron Shear property on which Cadiscor has an option to gain a 50% interest from Canadian Royalties Inc. With this transaction, Cadiscor now has a controlling interest in a 21 kilometres length of the Cameron Shear Zone that host Cadiscor Discovery gold deposit to the West.
To acquire the property, Cadiscor has agreed to issue 300,000 common shares of Cadiscor to IAMGOLD and to grant a 1% Net Smelter Returns (NSR) production royalty on future commercial production from the property. Cadiscor will have a pre-emptive right at any time to purchase back this 1% NSR royalty for $US 1,000,000.
The discovery of gold on the Flordin property dates back to the 1930s. The mineralization is directly related to a major shear zone associated to the Cameron Shear Zone. The Flordin deposit is in the direct eastern extension of the Discovery gold deposit. Cadiscor has released, in May 2007, a new 43-101 resource estimation for Discovery, following a 23,000 meters drilling campaign. The Measured and Indicated resources are estimated at 1,163,186 tonnes at an average grade of 5.53 g/t for a total of 206,624 ounces of gold, representing more than a 150% increase of the gold content and a 204% increase in tonnage over the previous May 2006 43-101 estimate for the same category. In addition to these Measured and Indicated resources, a total of 966,864 tonnes at an average grade of 6.06 g/t for 188,510 ounces of gold are classified as Inferred resources. This represented an increase of 9% of the gold content and a 14% increase in tonnage over the previous May 2006 43-101 estimate for the same category.
The Flordin deposit was last explored in 1988. From 1981 to 1988, some 168 surface drill holes (for a total of 28,602 meters) and 29 underground drill holes (2,280 meters) were done by Sullivan Mines, Cambior inc., and Bachelor Lake Gold Mines Inc. A mineral resource of 815,000 t at 5.1g/t Au was calculated. This resource calculation does not comply with 43-101 regulation. In 1988, Western Premium Resources Corp, a successor to Bachelor Lake gold mines, carried an underground exploration program with the extraction of a 4,053 t bulk sample at a grade of 4.71g/t Au and a mill recovered grade of 4.25g/t Au. A 203 meters ramp was excavated down to 50 meters depth to access the ore. The mineralized zones were not drilled at depths greater than 200 meters, except for one hole.
The Cartwright gold deposit according to the Quebec Ministry of Mines has resources of 82,000 t at 10.5g/t Au. This resource calculation does not comply with 43-101 regulation.
Vincent Jourdain, Ph. D. Ing., Vice-President Exploration, a qualified person under NI 43-101 regulation has not done sufficient work to classify the historical estimate as current mineral resources. Cadiscor is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon.
Cadiscor intends to aggressively explore the property; especially the depth extensions of the known gold zones of the Flordin and Cartwright gold deposits. An exploration program is in preparation and will include deep drilling.
This acquisition adds and consolidates Cadiscor land position in the Discovery area. It also adds to its gold resource base.

Last Update: 10:02 AM ET Jul 10, 2007

TORONTO, ONTARIO, Jul 10, 2007 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG) (IAG:
iamgold corp com) (BSE: IAMGOLD) is pleased to announce the results of an additional 16 diamond drill holes on its 100% owned Quimsacocha Project in Ecuador, including an intersection of 32.6 metres averaging 5.3 grams per tonne (g/t) gold, 66.5 g/t silver and 0.36% copper. These holes represent 3,000 metres of diamond drilling carried out as part of the infill drilling and resource development program. Previous results of this program were successful in increasing resources at Quimsacocha by over 20%, as reported in September 2006 and identifying new targets to be followed up in the 2007 program. Quimsacocha is located 40 kilometres southwest of the city of Cuenca in southern Ecuador.
"Quimsacocha continues to demonstrate consistency and continuity through its results," commented Joseph Conway, President and CEO of IAMGOLD. "As we move forward with the development of this project, part of the focus will remain on adding to the existing resource. We continue to monitor the political environment in Ecuador and are confident that changes will not impact our timetable. Our drill program is progressing as expected and the pre-feasibility study will be complete in Q1 2008."
These most recent results are distributed in the central and southern parts of the Quimsacocha resource and confirm the continuity of the mineralization in the north / south direction. The mineralization remains open to the east and west of the known resource.
In 2006, $6.2 million was spent on exploration at Quimsacocha to complete 19,000 metres of drilling. The majority of drilling was carried out within the Loma Larga zone which is contained in the known resource. In the first half of 2007, $2.4 million has been spent on exploration and project development work that included more than 5,000 metres of diamond drilling on newly identified targets. The 1H 2007 drill campaign was directed at the Rio Falso Sur and Loma Tasqui targets situated south and southwest of the Quimsacocha resource respectively. Both satellite zones exhibit hydrothermal alteration and characteristics similar to Quimsacocha, and first half drill results will be released before the end of July.
Significant intersections from the recent drilling at Quimsacocha and Loma Larga are presented in Table 1. The collar locations of the drill holes can be found in Figure 1 with additional information provided in the cross sections of figures 2, 3 and 4. These figures can also be found at: http://www.iamgold.com.

TORONTO, ONTARIO, Jul 25, 2007 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation (CA:IMG) (IAG: iamgold corp com) (BSE: IAMGOLD) ("IAMGOLD" or "the Company") is pleased to announce a new resource estimate and exploration update for the Buckreef Project in the Lake Victoria Goldfields Region of northern Tanzania. The measured and indicated resource base now consists of 16.7 million tonnes at an average grade of 1.9 g/t Au for 1.0 million ounces of gold and represents an increase of 9% from resources reported on December 31, 2006(a). At a 1.0 g/t cut off, the total measured and indicated resources on the Buckreef project contain 16 million tonnes at an average of 1.9 g/t Au for 1.0 million ounces Au and an inferred resource of 10.9 million tonnes with 2.4 g/t Au for 0.8 million ounces Au.
"These results further our understanding and confidence in this resource," commented Joseph Conway, President & CEO. "With continued exploration and resource development, including the evaluation of processing options, this project is moving toward the pre-feasibility stage of development. We expect to announce the initiation of a pre-feasibility study before the beginning of 2008."

TORONTO, ONTARIO, Jul 30, 2007 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG) (IAG: iamgold corp com) (BSE: IAMGOLD) is pleased to announce drill results from targets within its Quimsacocha project area in Ecuador. These targets, Rio Falso and Loma Tasqui, are located south and southwest of the known resource in the main Quimsacocha zone. Results from this drilling confirm the presence of strong hydrothermal alteration and anomalous gold and silver values that were also found near the margins of the Quimsacocha Main Zone. Quimsacocha is located 30 km southwest of Cuenca in the Azuay Province of southern Ecuador.
"These results are similar to results found at Quimsacocha prior to the discovery of hole 122 (No. 29/04, August 10, 2004)," stated Joseph Conway, President and CEO, IAMGOLD. "Although mineralization is sub economic thus far, it does indicate that the satellite zones have a strong alteration signature. This signifies tremendous potential within this Project and could grow the resource significantly."
Rio Falso is located two kilometres south of the known resource. Loma Tasqui is between two and three kilometres west of Rio Falso, and over four kilometres southwest of the resource. These results represent 5,265 metres of diamond drilling which occurred in the first half of 2007. $2.7 million was spent at Quimsacocha on exploration during this period. Another $2.7 million will be spent in the second half of the year, on a program designed to expand the drill pattern to follow-up on the reported results, and other prospective satellite targets. Intersections from these results can be found in Table 1. Additional information can be found in Figures 1, 2 and 3.

TORONTO, ONTARIO, Aug 03, 2007 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG) (IAG: iamgold corp com) (BOTSWANA: IAMGOLD) will release second quarter financial results before the market opens on Wednesday August 15, 2007.
A conference call will be held on Wednesday August 15, 2007 at 11:00 a.m. (EDT) to discuss these results. A webcast of the conference call will be available through the Company's website - http://www.iamgold.com.
Conference Call Information:
North America Toll-Free: 1-800-732-9303 or 416-644-3421
A replay of this conference call will be available from 2:00 p.m. August 15 to August 22, 2007. Access this replay by dialing:
North America toll-free: 1-877-289-8525 or 416-640-1917, passcode: 21240381#
A replay will also be available on IAMGOLD's website.
Please note:
This entire press release may be accessed via fax, e-mail, IAMGOLD's website at http://www.iamgold.com and through Marketwire's website at http://www.marketwire.com. All material information on IAMGOLD can be found at http://www.sedar.com or at http://www.sec.gov.

SAN FRANCISCO (MarketWatch) -- Iamgold Corp. (IAG: iamgold corp com) (CA:IMG: iamgold corp com) shares fell 9% to $7.81 in Wednesday afternoon trading. Late Tuesday, the Toronto-based gold producer reported that it swung to a second-quarter net loss of $81.4 million, or 28 cents a share, from a year-ago net profit of $29.8 million, or 17 cents a share. Excluding an impairment charge at the Mupane mine of $93.7 million, the company posted a profit in the quarter ended June 30 of 4 cents a share. Revenue more than doubled, rising to $167.3 million from $72 million. Analysts polled by Thomson Financial, on average, were expecting the company to earn 6 cents a share.

TORONTO, ONTARIO, Aug 14, 2007 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation (CA:IMG: news, chart, profile) (IAG: iamgold corp com) (BOTSWANA: IAMGOLD) -
All amounts are expressed in US dollars, unless otherwise indicated.
SECOND QUARTER HIGHLIGHTS:
- Revenue was $167.3 million.
- Average gold realized price was $660 per ounce.
- Attributable gold production was 251,000 ounces.
- Gold Institute (GI) cash cost(i) of production was $408 per ounce.
- Operating cash flow was $14.1 million.
- An impairment charge at the Mupane mine totaled $93.7 million and results in a net loss for the second quarter of 2007 of $81.4 million or $0.28 per share. Excluding this non-cash charge, net earnings would have been $12.4 million or $0.04 per share.
- In June, the Company announced a revised resource estimate for the Westwood project which resulted in a 128% increase to the resource.
- Cash, short term deposits and gold bullion position as at June 30, 2007 was $189.5 million valuing gold bullion at market.
- Capital expenditures totaled $20.4 million.
- Corporate exploration expenditures were $14.3 million.
- In July, the Company initiated a $26 million expansion and optimization of its Rosebel milling operations to maintain throughput and improve efficiency.

TORONTO, ONTARIO, Sep 06, 2007 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG) (IAG:
IAG) (BOTSWANA: IAMGOLD) is pleased to announce the results of the internal scoping study regarding the Westwood project. Results from this baseline economic assessment confirm the potential for Westwood to significantly contribute to the Company's long term production profile.
With inferred resources of more than 3 million ounces and based on an average life of mine diluted grade of 6.2g/t, which assumes a 3 metre mining width, a 20% dilution factor and a 95% mining recovery, Westwood would be expected to produce 200,000 ounces of gold per year for approximately 15 years with production beginning in 2012.
"We are very pleased with the Westwood project preliminary economics which are based on conservative assumptions. Our intention is to accelerate our exploration efforts during 2007 and 2008 as well begin planning for shaft development in 2009. We continue to be encouraged with exploration results and the deposits remain open at depth," commented Joseph Conway, President and CEO of IAMGOLD.
Operating parameters assume a 2,800 tonnes per day processing facility and total operating costs (excluding pre-production or sustaining capital expenditures) of US$70.00 per tonne or US$360 per ounce. Pre-production capital expenditure is expected to total US$316 million of which $146 million is allocated to surface and shaft construction. Approximately $80 million would be spent on deferred development to ensure sufficient working positions. Diamond drilling would total $25 million and $28 million would be required for underground mining equipment. The remaining $37 million is allocated for other costs including corporate G&A and insurance.
The purpose of this scoping study was to establish economic viability based on conservative parameters. In addition to the positive impact of further resource development, the rate of return is expected to improve based on operating cost improvements. These improvements will primarily be realized through reductions in the assumed mining width, optimization of the development plan and incorporating access to the higher grade ore in the first years of the mine life. Capital expenditures will also be reviewed to ensure the use of the best technology and practices.
The shaft sinking is anticipated to begin in 2009. The immediate next steps include lateral development to establish mineralization continuity as well as further definition and exploration drilling.
Qualified Person
This economic study was carried out by IAMGOLD employees, under the supervision of Mr. Elzear Belzile, Manager, Mine Geology and Daniel Vallieres Manager, Underground Projects. Mr. Belzile is a qualified person (as defined by National Instrument 43-101) with more than 20 years of experience in mine and exploration geology. Mr. Vallieres is a qualified person (as defined by National Instrument 43-101) with more than 15 years of experience in mine engineering and project evaluation. Mr. Belzile and Mr. Vallieres have reviewed and approved the contents of this press release.

TORONTO, ONTARIO, Nov 12, 2007 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG) (IAG: iamgold corp com) (BOTSWANA: IAMGOLD) is pleased to announce the appointment of Mr. Gordon Stothart as Chief Operating Officer. Mr. Stothart joins the Company from an operations leadership position for one of the largest global metals producers and brings over 20 years of industry experience. He was responsible for technical management and development of five copper projects in South America including the large scale Antamina and Collahuasi mines. Prior to this role, Mr. Stothart served as the general manager and operations manager at three mines including Lomas Bayas, Antamina and Brunswick. He also spent several years as a manager within the Business Development group for a multinational metals producer and provided technical analysis for acquisition opportunities globally.
"I am pleased to welcome Gordon to IAMGOLD. His depth of experience will compliment our existing management team and his skill set is a great fit to enhance our ongoing and future operations," stated Joseph Conway, President & CEO. "Establishing a COO position within our management structure will bring greater oversight, guidance and focus to our operations which will have a positive impact on the quality of our production and our growth as a global operator."
Mr. Stothart in his role as the Chief Operating Officer will be responsible for all IAMGOLD operations and joint venture interests. He will work closely with the entire senior management team to achieve IAMGOLD corporate objectives of improving operations and ensuring continued growth. Mr. Stothart will join IAMGOLD in early December.
Please note:
This entire press release may be accessed via fax, e-mail, IAMGOLD's website at http://www.iamgold.com

TORONTO, ONTARIO, Nov 13, 2007 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation ("IAMGOLD" or "the Company") (CA:IMG) (IAG: iamgold corp com) (BOTSWANA: IAMGOLD) announces that the final decision from the French authorities regarding the Camp Caiman permits was expected on November 18th, 2007, upon the completion of the national forum on the environment (Grenelle de l'Environnement). That series of workshops and committee sessions throughout France was concluded at the end of October. The Company has been advised that before the Camp Caiman permits can be delivered, a delegation, representing environmental, labour, governmental and commercial interests will conduct a final visit to French Guiana to ensure that our Camp Caiman project continues to meet or exceed the current standards for responsible mining practices. This delegation should complete its mission shortly.
In the meantime, we continue to receive full cooperation and support for our project from the relevant authorities. At this time, although the delivery of the final permits may extend somewhat beyond the end of November, we do not anticipate a delay that would have a material impact on our construction plans or the economics of the Camp Caiman project.
Please note:
This entire press release may be accessed via fax, e-mail, IAMGOLD's website at http://www.iamgold.com

TORONTO, ONTARIO, Nov 13, 2007 (MARKET WIRE via COMTEX) -- IAMGOLD Corporation (CA:IMG) (IAG: iamgold corp com) (BOTSWANA: IAMGOLD) -
All amounts are expressed in US dollars, unless otherwise indicated.
THIRD QUARTER HIGHLIGHTS:
- Revenue was $170.2 million and net earnings were $19.5 million, a year over year increase of 159% and 45%, respectively, incorporating the contributions of an acquisition in the fourth quarter last year.
- Revenue increased 2% and net earnings, on an adjusted basis(1), increased 58% versus the previous quarter.
- Record operating cash flow at $29.8 million; a 66% increase over the third quarter of 2006 and a 112% increase over the second quarter of 2007.
- Attributable gold production was 242,000 ounces as expected.
- Gold Institute (GI) cash costs(2) of production was $437 per ounce.
- Cash, short-term deposits and gold bullion position as at September 30, 2007 was $222.9 million valuing gold bullion at market, compared to $189.5 million as at June 30, 2007.
- Agreement reached to sell the Sleeping Giant mine after completion of mining.
- A strategic decision was taken to divest of La Arena.