Canadian miner Iamgold (TSX: IMG)(NYSE: IAG) has reported strong third-quarter results, driven by record production at its flagship Côté gold mine in Ontario and continued debt reduction efforts.
The company’s three operations — Côté, Westwood and Essakane — produced 190,000 attributable ounces of gold during the quarter, bringing year-to-date output to 524,000 ounces. Iamgold said it remains on track to meet its full-year guidance of 735,000 to 820,000 ounces.
Côté delivered a record 106,000 ounces, while Westwood in Quebec added 23,000 ounces. The Essakane mine in Burkina Faso contributed 92,000 ounces. Quarterly revenue reached $706.7 million from sales of 203,000 ounces at an average realized gold price of $3,492 per ounce. Year-to-date revenue totalled $1.76 billion. All-in sustaining costs averaged $1,956 per ounce, placing the company at the upper end of its cost guidance.
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