IAMGOLD./:GOLDFIELDS; die Hochzeit

die Meldung hat es in sich, ganz frisch,

habe extrem geküzt, ist prakrisch nur ein "Trailer"

gogh

Combination of Gold Fields' international assets with IAMGOLD to create a major new gold producer

TORONTO and JOHANNESBURG, Aug. 11 /CNW/ - Gold Fields Limited

(JSE, NYSE:GFI) ("Gold Fields") and IAMGOLD Corporation (TSX:IMG; AMEX:IAG)
("IAMGOLD") today announced that they have agreed to combine, the
international assets of Gold Fields located outside the Southern African
Development Community ("SADC") with IAMGOLD, in exchange for Gold Fields
receiving IAMGOLD shares, to create one of the world's largest gold producers.
Following the completion of the transaction, Gold Fields will own
approximately 70% of the fully diluted equity of the enlarged company.
Existing IAMGOLD shareholders will own the remaining 30% of the company, and
will also receive a special cash dividend of Cdn$0.50 per share at completion
of the transaction. The enlarged company will become the fourth largest North
American gold producer and the seventh largest gold producer worldwide.
Following completion of the transaction, IAMGOLD will be renamed
"GOLD FIELDS INTERNATIONAL LIMITED" ("GOLD FIELDS INTERNATIONAL") and will
become an international growth vehicle for Gold Fields and IAMGOLD
shareholders outside of the SADC region.

Kapitalerhöhung gegen Sacheinlage
=============================

Anschließend Änderung des Firmennamens in Anlehnung

an Firma des neuen Mehrheitsaktionärs.


Coming Soon Oder die gogh-Interpretation:
==================================

Altaktionäre werden etwas gehätschelt und dann

per Squeeze Out mit einer Abfindung vor die Tür gesetzt.

In Farbe und Breitwand in ca. 2 Jahren zu bestaunen.

Es wird noch gerätselt, ob Putin eine Hauptrolle als

Norlisk der Schurke besetzen kann.


gogh

BLOOMBERG vom 11.08.04



Gold Fields to Buy Iamgold in $2.1 Billion Stock Swap (Update2)
========================================================

Aug. 11 (Bloomberg) -- Gold Fields Ltd., the world's fourth- biggest gold producer, agreed to buy Canada's Iamgold Corp. in a stock swap valued at about $2.1 billion, fending off a competing bid from Golden Star Resources Ltd.

Iamgold will issue 351.7 million shares and combine with Gold Fields' operations outside South Africa, Johannesburg-based Gold Fields said in a statement to South Africa's stock exchange. Holders of Toronto-based Iamgold will get a dividend of 50 Canadian cents a share when the deal is completed.

Iamgold Chief Executive Joseph Conway has tried to court investors to avoid a takeover by Littleton, Colorado-based Golden Star. That bid, worth about C$1.15 billion ($870 million) expires on Aug. 15. Iamgold shareholders last month rejected a plan to buy Wheaton River Minerals Ltd., prompting Iamgold to invoke a ``poison pill'' plan to win more time.

``The board has determined that Gold Fields' transaction is the best alternative for shareholders and clearly superior to the Golden Star offer,'' Iamgold said in a separate statement distributed by Canada News Service.

Golden Star Chief Executive Peter Bradford and spokesman John Lute couldn't be reached for comment.

Gold Fields shares fell 0.4 rand, or 0.6 percent, to 65.30 rand in Johannesburg at 3:13 p.m. They have plunged 32 percent this year, giving the company a market value of 32 billion rand ($5 billion). Iamgold shares closed yesterday at C$6.99 in Toronto.

Venture Stakes

Iamgold and Gold Fields' assets outside South Africa will be combined into a new company, Gold Fields International Ltd. It will produce about 2 million ounces of gold next year, rising to 2.4 million in 2007, and have proven and probable reserves of 14.6 million ounces, Gold Fields said.

Gold for immediate delivery traded at $394.05 an ounce in London, down 5 percent for the year. The metal gained 20 percent last year and reached $431.05 an ounce in April, the highest since August 1988.

Iamgold owns 18.9 percent stakes in the Tarkwa and Damang mines in
=======
Ghana, operated by Gold Fields, and the companies have an exploration

venture in Ecuador.

Gold Fields' mines in Ghana and Australia account for a third of its
==========
annual production of about 4 million ounces, and it plans to develop a

mine in Peru. Iamgold gets most of its production from Mali, where it

holds 38 percent of the Sadiola mine and 40 percent of the Yatela mine.

South Africa Costs

Gordon Parker, a Gold Fields board member and the former chairman of Newmont Mining Corp., will be chairman of Gold Fields International. Gold Fields Chairman Chris Thompson, who will be president and chief executive of the new company, said it may be based in Denver and produce as much as 3.5 million ounces of a gold a year within three years.

In South Africa, Gold Fields is compelled by law to sell 26 percent of local assets to black investors by 2014, and the government has proposed charging a royalty on mining revenue starting in 2009.

Gold Fields, which is 20 percent-owned by OAO GMK Norilsk Nickel, this year sold 15 percent of its South African assets to black-owned Mvelaphanda Resources Ltd.

South African miners' profits also have been hurt by the rand's 94 percent surge against the dollar since the end of 2001. The miners pay costs in local currency and sell metal for dollars. Gold Fields posted a net loss of 186 million rand ($30 million) for the three months ended June 30.

Wheaton River [WHT] and seeking to parry a hostile bid from Golden

delete

Star [GSS], IAMGold [IAG] went in search of a white knight. It returns to shareholders as a mulatto prince with a proposed $2.1 billion transaction with Gold Fields [GFI] to create the seventh largest gold producer by production and sixth by market value.

The deal is in many respects a revision of the failed attempt by Franco-Nevada to buy Gold Fields in 2000. That was inteIAMGold deal also carries hallmarks of the subsequent Franco-Nevada Normandy transaction involving the Midas Mine. That deal proved to be the slip knot that released Normandy to Newmont [NEM] instead of original bidder AngloGold [AU]. Also notable is that it mimics speculation about how Norilsk Nickel [NILSY] might have gained control of Gold Fields.

Almost half a decade later, Gold Fields International has been revived with chairman Chris Thompson back at the helm.

This time it looks set to succeed and the primary force that blocked the first transaction, foreign exchange controls, will now propel the second to completion because Gold Fields shareholders at home and abroad want less of South Africa.

Not NorGold

In the process, Gold Fields nimbly takes care of the not-yereduced to a rather sterile stake of 14% in Gold Fields International and 17% of the South African assets. It seems likely to be diluted by a thousand cuts unless it can strike a deal that meets the accretion benchmarks set by this deal.

NorNickel is under further pressure given that it has lost one-seventh of the value of its blitz investment in Gold Fields earlier this year.

Thompson quickly and repeatedly rebuffed suggestions that the deal had NorNickel in mind. It may not have been at the forefront of strategy, but it had to be tactical considelooking to acquire more of the Tarkwa and Damang mines, and IAMGold resolves that as well as delivers a gentle coup d’grace to NorNickel.

NorNickel’s power has been split and the portions it retains no longer carry any threat of an overhang or control bloc. Even if the Russsian votes against the transaction, it is improbably that it can carry sufficient votes against a domestic and foreign shareholder base bursting to escape the perennial SA discount.

The only credible threat NorNickel could now mount is to ally with Harmony [HMY] to raid all of Gold Fields. If Harmony could bag NorNickel’s current 20%, then it could launch a bid that might be competitive. Alas, the timing is all wrong because of the rand and SA discounting.

Three swings and you're in

Gold Fields gets a third bite at a rerating since SA emerged from Apartheid isolation, and it doesn’t look like such an orphan relative to the “big three”.

The original Franco-Nevada deal was founded on the premise that simply redomiciling ounces would achieve stock multiple expansion. Unable to prove it with Franco, Thompson succeeded in 2002 with a spectacularly well-timed shift of the Gold Fields ADR from Nasdaq to the NYSE. In the interim, he had thwarted at least two approaches from AngloGold that were priced at about $5 a share.

IAMGold shareholders may be a little concerned about being injected into what is for now a South African vehicle. However, there is a large safety net in the Toronto and American Stock Exchange listings. It is also inevitable that Gold Fields International will go in search of another transaction that will take it to the 3.5 million ounces a year within three years target it has posted. Also, the new vehicle is not subject to the same SA Reserve Ba[NCM], or Kinross [KGC]. A series of smaller swallows taking in developing assets or intermediates could also do the trick. Alternatively, Gold Fields International must look very attractive to Barrick [ABX] or Placer Dome [PDG] which lack a substantial foothold in Ghana.

Newcrest has lately been complaining of the national ratings discounts. It will discover, like Normandy, that you can’t unlock that value by moaning, only by taking your company to the senior capital markets.

Overall, IAMGold shareholders should be well pleased. The strategy to become an operator is secured, as is, handsomely, the 1 million ounce a year production target. It is a superior arrangement compared with the Wheaton deal, and it should easily sidestep Golden Star.

Golden Star chief executive, Peter Bradford, told Mineweb that the company will probably respond on Thursday.

Vor lauter "hostile bid" von Harmony

den Plan B nicht vergessen.
======================

Iamgold hat produzierende Minen

nur in Westafrika; und zwar immer

als Joint Venture.


Exploriert wird in Mittel-Amerika.

Gestern wurden noch hervorragende

Bohrergebnisse in Ecuador ver-

öffentlicht.


gogh

"der unsichtbare Dritte"

gogh

Business Report vom 12.11.04

Norilsk's endgame in Gold Fields battle baffles everyone
==============================================

By Renée Bonorchis

Just what Russia's Norilsk Nickel gets out of supporting Harmony Gold in its bare-fisted fight for Gold Fields continues to be a bit of a puzzle.

The Russians hold one of the vital keys to a successful Harmony takeover of Gold Fields.

Norilsk's support of Harmony's bid is believed to have been triggered by the Iamgold transaction, in terms of which Gold Fields would reverse list its international assets into the Toronto-listed gold mining and exploration firm.

News of the Iamgold proposal stopped communications between Gold Fields and Norilsk in August. This was something that worried Gold Fields' management, and rightly so.

And it was not only South Africans who were worried about the unlikely relationship with the Canadian firm.

The Russian government was reported to have been uncomfortable with the huge outflow of foreign exchange when Norilsk bought the 20 percent stake in Gold Fields.

Apparently, Moscow is investigating whether Norilsk contravened any of that country's foreign exchange controls with the deal, which at the time was the largest transaction a Russian company had ever made outside of the homeland.

But if you look at it from another angle, why would Norilsk go to all the trouble of spending $1.17 billion, get everyone excited about Russia's largest mining company making moves to diversify itself, and then pull away from its chosen target?

If Harmony's proposed deal is consummated in its entirety, Norilsk would end up holding about 13 percent of the New Harmony company. A 13 percent stake offers no special, strategic anything. So what gives? What are they thinking; what are they up to?

Bernard Swanepoel, Harmony's chief executive, swears blind there is no other deal or sweetener being offered to the Russians.

But one of the Harmony offer documents did mention it might spin off the international assets, either selling them or listing them separately.

This casual reference to the plans Harmony has for more than 75 percent of Gold Fields' cash flows smells a little strange - especially given the cash-hungry position the robust rand has put Harmony in.

Could there be something in this for Norilsk? A separate gold company that could partner with Norilsk to help it pursue its own gold ambitions, perhaps? Or a larger stake for Norilsk in an international arm of Harmony?

Whatever it is, the agenda is as opaque as a master chess player's mine. Even so, what happens to Norilsk if the Harmony deal goes pear shaped?

It would substantially queer the pitch for any future co-operation between Gold Fields and Norilsk. And Norilsk would hold a stake in a company with two major shareholders on bad relationships with the management.

Norilsk can't sell its stake to Harmony, because Harmony doesn't have the money, besides which it has to stump up R490 million in January for an interest payment.

Exactly what is going on in the board room at Norilsk will hopefully be revealed in the fullness of time.

In the meantime it seems that Gold Fields is being outclassed in the legal arena, what with the high court and the Securities Regulation Panel throwing out its applications
. It would be interesting to know what odds the bookies have on today's competition tribunal hearing. NS

Wenn die Oma heiratet, muß dann der Enkel

seine Verlobung auflösen?

Kann schon sein bei bösem neuen Stiefgroßvater.

Bräutigam der Großmutter: Harmony

-dazwischen GFI (mittlere Generation) GFI wird nicht

aufgelöst. Harmony kann sich ja nur 50% plus etwas leisten.

-Enkel: Auslandsaktivitäten GFI

mit Enkel-Verlobtem Iamgold.


-Merger Angebot Harmony:

Gib die Mutter ab; dann bekommst Du die Großmutter.


Gib die Mutter ab, kriegst Du die Tochter würde mehr Spaß machen;

so der IMG-GFI-International Plan.

gogh

will sagen:

1. Merger GFI/HAR wird es nicht geben

2. GFI wird wie geplant mit IMG die GFI "International" gründen

Das ist nur meine Einschätzung der Lage per heute;

also keine objektive Information.

gogh

[Blockierte Grafik: http://balkon.c3.hu/balkon02_07-08/images/queer_08.jpg]

Business day 19.11.04

Norilsk participates in Gold Fields vote
==============================


Russia's MMC Norilsk Nickel participated in Gold Fields (GFI) Annual General Meeting and voted on all 12 resolutions, Norilsk Nickel head investor relations Dmitri Usanov told I-Net Bridge from Moscow.

"We abstained or voted yes or no, depending on the resolution," Usanov said.

Usanov, however, wouldn't disclose how Norilsk Nickel had voted on any of the 12 resolutions, which included 10 ordinary resolutions and two special resolutions.

Norilsk Nickel has a 20.03% stake in Gold Fields and is the group's largest single shareholder.

Harmony Gold (HAR) is biding to take over Gold Fields to form the world's number one gold miner.

In turn, Norilsk Nickel has signed an irrevocable agreement with Harmony to support the group's subsequent offer. Harmony's early settlement, which expires on November 26 at 12h00, is aimed at securing 34.9% in Gold Fields.

Norilsk Nickel has also indicated that it will vote against the merger of

Gold Fields' mining assets, outside the South African Development

Community, with those of Canada's IAMGOLD.

Gold Fields and IAMGOLD shareholders are set to vote on their merger

on December 7, 2004, with the exact time of the vote yet to be

announced.

Justin Brown , INet
19 November 2004

Ein Aufsatz, der das lesen im Kaffeesatz kultiviert.

Oder

Außer Tinte nichts gewesen

gogh

BUSINESS DAY vom 22.11.04

Gold Fields looks to Norilsk to frustrate Harmony takeover

--------------------------------------------------------------------------------

Resources Editor
GOLD Fields executives are believed to have held secret talks in the past few days with Norilsk Nickel of Russia to buy the 20% stake that the Russian resource group holds in the South African miner.

Gold Fields' strategy is aimed at thwarting Harmony's hostile takeover bid, the first stage of which is due to expire this Friday. Gold Fields' counter-attack may result in a new windfall for the company's shareholders.

Gold Fields' spokesman Willie Jacobszwould not confirm the meeting.

However, it is understood that a number of senior Gold Fields executives, including chairman Chris Thompson and CE Ian Cockerill, met their counterparts from Norilsk at a neutral overseas venue.

A hint that Gold Fields was working on a surprise deal to blow the Harmony offer out of the water was provided by Cockerill in a carefully worded statement on Friday. Until then Gold Fields had been committed to reverse-listing its non-Southern African Development Community assets into IAMGOLD.

However, on Friday, Cockerill said that following some relaxation of South African exchange controls, this strategy was no longer as popular with Gold Fields' shareholders, and alternative strategies were being put together.

"Although we remain committed to the creation of Gold Fields International through the reverse takeover of IAMGOLD, our internationalisation strategy does not depend on it," he said.

It is believed that a favoured option would be for Gold Fields itself to acquire the Norilsk stake.

The purchase from Norilsk would require a generous premium from Gold Fields for the Russians to be able to break an existing deal to sell the Gold Fields shares to Harmony, and this is believed to be one issue discussed by Gold Fields and Norilsk bosses. Gold Fields could fund the purchase with cash, or by offering some of its offshore assets in a swap, or it could fund the share purchase through a rights issue.

Harmony director Ferdi Dippenaar said Friday's statement by Cockerill indicated Gold Fields' managers were becoming convinced they were losing support among their own shareholders.

Jacobsz said "at our AGM, Gold Fields shareholders gave the board and management an overwhelming mandate to fight Harmony's hostile bid. We do what our shareholders want us to do, not what Harmony thinks we should do."

Harmony said at the weekend the US Securities and Exchange Commission (SEC) had given it permission to begin acquiring shares in Gold Fields as part of a hostile bid. The decision comes after Harmony, at the request of the SEC, removed Gold Fields' 2003 earnings figures from its takeover bid sent to shareholders last month.

Business Day

Nur ein Aspekt:

GFI macht HAR madig.

HAR macht GFI madig.

Bei kleinen Kindern würd´man sagen,

HAR hat mit dem zanken agefangen.

Folge für beide: Kursabschlag


Folgerichtig mach HAR die Iamgold auch madig.

"IMG hat 1 Mio $ Verlust gemacht."


IMG ist eine reine Holding. IMG betreibt

keine Mine selbst. IMG hat nur einen

prozentualen Anteil an Minen, die sämtlich von

GFI betrieben werden.


Das ganze ist nur zu verstehen, wenn man

davon ausgeht, daß Südafrika Wirtschaftspolitik

betreibt. GFI darf nicht ausbüchsen.

HAR hat nur zaghafte Versuche zum Ausbüchsen gemacht.

Aber auch HAR hat wichtige Assets, die in der HAR AUSTRALIA

zusammengefaßt sind.


Meine persönliche Meinung. Die Schwerkraft des Kapitals

wird über die Politik siegen. trotz der tiefen Verbeugungen,

die man verschmitzter Weise von allen Seiten macht.


gogh

Und das Schärfste Harmony kommentiert.

Der Fuchs als Beschützer der Gans.

[Blockierte Grafik: http://ofb.net/~epstein/sl/20030418-bucket.jpg]

gogh

Mining Weekly and Polity vom30.11.04

Gold Fields now confident of winning Iamgold vote
--------------------------------------------------------------------------------

South Africa's Gold Fields Ltd is confident it will gain enough shareholder votes next Tuesday to seal its merger with Canada's Iamgold and sink a $6.5 billion hostile bid from Harmony Gold.

Several South African fund managers, representing around 20 percent of Gold Fields shares, said they have swung to support the Iamgold deal after Gold Fields offered a sweetener to its own shareholders on Tuesday, the firm said on Wednesday.

The new terms won over South African insurer Old Mutual, one of the biggest shareholders with 5.8 percent, to back the deal.

"It has changed our mind. We are now supporting the transaction. We had been undecided, unconvinced," Old Mutual fund manager Patrice Rassou said.

North American shareholders, accounting for another 30 percent, were already largely in favour of the deal before Gold Fields said on Tuesday it would contribute $200 million less cash than it had originally agreed, the company said.

"We would anticipate that the vast majority of that (North American base) to be on our side," spokesman Willie Jacobsz said.

South African support at 20 percent was the result of a preliminary survey among shareholders representing 23 percent of shares and the company was now visiting other investors to boost that level, he added.

Gold Fields, the world's fourth biggest gold producer, needs a simple majority of shares represented and voting at a meeting on Tuesday to approve the deal, worth around $2 billion.

Sixth biggest Harmony, which got 10.8 percent of Gold Fields shares in an initial offer, has said it would only proceed with its all-share bid if shareholders rejected the Iamgold merger.

It was counting on cancelling the Iamgold deal with the help of Russia's Norilsk Nickel, Gold Fields biggest shareholder with a 20 percent stake, which has agreed to vote against the merger.

But courts have dealt several blows to Harmony in recent days, including stripping it of voting rights for its Gold Fields shares it had planned to cast against the Iamgold deal.

A U.S. court on Tuesday denied Harmony's request to prevent Gold Fields from casting votes on the Iamgold deal on behalf of some of its shareholders.

Harmony said on Wednesday the new Iamgold terms still left Gold Fields shareholders at a disadvantage.

"Harmony believes that the amendment does not alter the fundamental value leakage inherent within the proposed IamGold transaction and that it remains unconvincing and difficult to justify from both a value and structural perspective," it said.

The value of Harmony's bid has slipped five percent under the market price of Gold Fields shares, indicating that Harmony will have to boost its offer of 1.275 new Harmony shares for each Gold Fields share, analysts say.

"The Harmony offer undervalues Gold Fields substantially. Their bid is too low, they would have up the ratio to above 1.5," Rassou said.

Harmony shares slid 2.8 percent to 60.25 rand while Gold Fields shares were flat at 82.20 rand, compared to a 0.8 percent rise in the top 40 index of blue chips.

Iamgold shares finished up 2.12 percent in Toronto on Tuesday after the news of the new terms for the merger.

Man denkt über Partnertausch nach

die Verstoßenen sind billiger, in dem Fall aber kaum williger

(Randgold reich und nicht schön.

IMG reich und sexy, hat nur grade einen Kater.

gogh

BUSINESS DAY vom 13.12.04
========================

Gold Fields' loss may be gain for Randgold

--------------------------------------------------------------------------------

Canada's IAMGOLD more vulnerable to takeover as shares dip on setback'
Industrial Correspondent

GOLD Fields' failure to win shareholder support at a vote last week for a planned merger with Canada's IAMGOLD may have created an opening for
Randgold Resources, in which JSE Securities Exchange SA-listed Randgold & Exploration has a major stake.

Randgold Resources says the share price of IAMGOLD is key to it considering a merger with the group, . with the Canadian miner's stock plunging 12% this
year.

Gold Fields' failure to get approval to merge its foreign assets with those of IAMGOLD has cast a shadow over the Canadian company, which has seen three
mergers scuttled this year.

This has led to Randgold Resources taking another look at a possible merger with IAMGOLD, after having already considered a bid earlier this year.

Randgold Resources CEO Mark Bristow said while his group was definitely looking at the opportunity, he "wants something that would make it attractive".

"The interesting thing for me is how IAMGOLD's share price performs after this latest stumble," he said.

The Toronto-based company's shares have fallen 12% this year, giving it a market value of $940,5m. It closed at C$8,05 on the Toronto Stock Exchange on
Friday, a recovery from the drop to C$7,85 at which it closed the day before, and which was its lowest since August 12.

Bristow said he would not risk his company if a possible merger could not add value to the group.

A merger would get the support of one of Randgold Resources' major shareholders — South African-listed Randgold & Exploration. CEO Brett Kebble said if
Bristow recommended a merger with the Canadian entity, "it would be supported".

Bristow said that as the gold-mining industry went through a consolidation phase, mining companies should not lose sight of shareholder interest.

The industry has seen at least two hostile takeover attempts this year. IAMGOLD was the target of a bid from US-based Golden Star Resources, while Gold
Fields is still fighting off Harmony Gold.

The failed merger with Gold Fields follows Golden Star Resources' hostile bid, which derailed IAMGOLD's planned purchase of Wheaton River Minerals. CEO
Joe Conway said last week that he was still seeking a partner to boost output after the failed Gold Fields deal.

Bristow said his company had not entered into talks with IAMGOLD. Bristow had held talks earlier this year with Conway but would not say why they failed.

IAMGOLD owns a share of Gold Fields' Tarkwa mine in Ghana and AngloGold's Sadiola and Yatela mines in Mali. Randgold and AngloGold each own a 40%
stake in Mali's Morilla mine. Randgold is also digging a mine in Mali and exploring in Côte d'Ivoire.

"The struggle for me is to see where the value is. We can see the value in their cash and in Tarkwa, but the question mark remains the investments in western Mali,"
said Bristow.

Randgold has also had trouble, losing a bidding war last year for Ghana's Ashanti Goldfields to AngloGold.

aus REUTERS vom 23.02.2005
=========================

Iamgold sees '05 gold output up 4 pct, reserves up
========================================
Wed Feb 23, 2005 11:29 AM ET

(Adds details. In U.S. dollars)

VANCOUVER, British Columbia , Feb 23 (Reuters) - Iamgold Corp.

(IMG.TO: Quote, Profile, Research) forecast on Wednesday that it would produce 4 percent more gold this year, or 450,000 ounces, from the four mines in West Africa in which it holds stakes.

The mid-sized Canadian miner said its share of reserves that can be economically mined at a gold price of $350 an ounce increased by 11 percent to 4.13 million ounces during 2004.

The bulk of the gain came from the addition of almost a million ounces at the Tarkwa mine in Ghana, which is majority owned by South Africa's Gold Fields Ltd. (GFIJ.J: Quote, Profile, Research) .

Toronto-based Iamgold's share of production in 2004 was 432,000 ounces of gold at a cash cost of $248 an ounce from its interests in the Sadiola, Yatela, Tarkwa and Damang mines.

It expects costs to rise to $270 an ounce this year. "Not unlike many of our peers in the industry, our costs have been impacted by increased fuel costs and fluctuating currency rates during 2004," Iamgold chief executive Joe Conway said.

Iamgold was much in the news in the past year because of its two failed attempts to merge, first with Wheaton River Minerals Ltd . (WRM.TO: Quote, Profile, Research) and then with the offshore operations of Gold Fields.

For now the company is on a go-it-alone path but has said it will look at smaller deals that will help it expand and become an operator of mines rather than just an investor in operations run by others.

Iamgold reports Q4 profit falls to $2.9M US, down from $7M year ago
======================================================
08:12 AM EST Mar 09

TORONTO (CP) - Iamgold's fourth-quarter profits declined compared with a year ago, despite higher revenue,
the Toronto-based gold miner said Tuesday.

Iamgold, which reports its results in U.S. dollars, said Tuesday it earned $2.9 million US or two cents per share for the three months ended Dec.
31, compared with a profit of $7 million or five cents per share in the
same period a year earlier. Quarterly revenue increased to $34.7 million,
up from $29.3 million.

However, corporate transaction costs totalled $11.2 million for the year
and $1.7 million for the fourth quarter.

For 2004, Iamgold earned $11.6 million or eight cents per share on revenue of $121.9 million. That compared with a profit of $20 million
or 14 cents per share on revenue of $101.1 million.

With a gold price of $436 per ounce at Dec. 31,
the unrealized gain on the company's holdings of gold bullion was $15.8
=========================================================
million or 11 cents per share.

Iamgold
holds interests in four gold mines in West Africa,
======================================
certain diamond and gold royalties
===========================
and conducts exploration in South America and West Africa.
==============================================

Shares in the company (TSX:IMG) closed up 11 cents at $8.69 on the Toronto Stock Exchange

Chronistenpflicht:

19.04.05

IMG steigt um 10%,

da Drill-Results aus Ecuador bekanntgegeben wurden.… Anmelden oder registrieren