Production for the second quarter totalled 166,000 oz., up from 107,000 oz. in Q2 2023, also at lower cash costs and AISC ($1,071/oz. and $1,617/oz.) than the previous year. The Q2 results exceeded analyst expectations, which were 157,000 oz. and $1,731/oz. for output and AISC respectively.
The improvements in production and costs allowed Iamgold to post adjusted net earnings of $137.8 million for H1 2024, which is significantly higher than the $22 million in 2023. This was boosted by Q2 2024 net earnings of $84.8 million, compared to a loss of $3.3 million last year.
Also contributing to the H1 results is the Côté Gold mine in Ontario, which just had its first full quarter of production, contributing 20,000 oz.
“We are very proud of our achievements during the first half of the year at IAMGOLD,” CEO Renaud Adams said in a statement, attributing the results to strong performances at the Essakane and Westwood mines, located in…
