IAMGOLD Corporation (NYSE:IAG) taking place in active move after raised 0.54% to the trading price of $5.57 in latest session.
IAMGOLD Corporation released that positive results from a Pre-feasibility Study for its Boto Gold Project (Project) in Senegal, West Africa. The results, which outline an economically viable project, justify the commencement of a Feasibility Study to further optimize the project development design and improve project economics. Indicated Resources of 1.9 million ounces grading 1.60 g/t Au.
Proven and Probable Reserves of 1.4 million ounces grading 1.64 g/t Au. Mine Life of 13.5 years with mill throughput of 2.0 million tonnes per annum. Life of Mine (LOM) average annual production of nearly 100,000 oz, with higher production in the early years of operation. LOM direct cash costs of $707/oz and all-in sustaining costs of $829/oz. At $1,275/oz gold price, after-tax Internal Rate of Return of 13.3% and a Net Present Value of $104 million (6% discount rate). Initial capital expenditures of $249 million
Steve Letwin, President and CEO of IAMGOLD, said “Boto lies on a mineralized trend that is host to several significant producing gold mines. The team has worked exceptionally hard to advance this project from the initial discovery to a potential development project with a long life and attractive all-in sustaining costs. It is important to understand that this is a work in progress, and although still short of our investment criteria typical for West Africa, the project provides excellent optionality at higher gold prices. We are continuing to aggressively optimize the project design to improve the overall economics. Importantly, the feasibility study currently underway and due for completion in the second half of 2018 uses a 25% higher mill throughput as the base case, which will accordingly increase annual gold production and has the potential for improved project returns. We continue to aggressively explore priority targets to enhance the total resource inventory, which would generate a positive impact on project economics and mine life.”
The PFS was completed jointly by IAMGOLD and Lycopodium Minerals Canada Ltd., with inputs from technical studies completed by other consultants and has an effective date of December 31, 2017. The PFS represents a comprehensive study of the technical and economic viability of a mineral project that has advanced to a stage where a preferred mining method has been established and an effective method of mineral processing has been determined. IAMGOLD is using the PFS to identify the preferred development option to demonstrate economic viability of the Project, to support Mineral Reserve disclosure, and to identify additional work recommended to support the completion of a feasibility study. Technical studies to support the completion of the feasibility study have commenced, with the study scheduled for completion in the second half of 2018. The PFS study has identified the preferred development option to be a conventional truck and shovel open pit mining operation, and has determined an effective method of mineral processing to be a processing circuit incorporating primary crushing, grinding, gravity concentration and cyanide leaching, followed by gold recovery using carbon-in-pulp, stripping and electrowinning.
Open pit mining includes approximately 15 Mt of stripping and preproduction mining during a two year pre-production period followed by 13.5 years of production mining along with stockpile reclaim in the final years of the operation. Maximum mining rate is 18 Mt per annum. The average grade is 1.64 g/t Au and the LOM stripping ratio is 6.5:1.
Its 52-week range quite noticeable, lower range was $65.77% and hit highest level of $-23.17%. The overall volume in the last trading session was 37401 shares. The firm shares 50 day moving average were calculated -2.65%. The firm’s institutional ownership remained 76.80% while insider ownership included 1.70%.
Kennametal Inc. (NYSE:KMT) trade at $41.90 by fell down to knees -1.48% in most recent trading session with share volume of 8265. Kennametal Inc. (NYSE:KMT) released that is has been recognized by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices, as one of the 2018 World’s Most Ethical Companies.
“For nearly 80 years, Kennametal has been an organization built on trust – trust among our employees, customers and all stakeholders invested in our business,” said Kennametal Vice President, Secretary and General Counsel Michelle Keating. “Maintaining strong ethics and integrity has always been a part of our culture and will continue to be a key ingredient in the long-term success of our organization.”
Kennametal has been recognized seven consecutive years and is one of only two honorees in the machine tool and accessories industry, underscoring the company’s commitment to leading with integrity and prioritizing ethical business practices.
“While the discourse around the world changed profoundly in 2017, a stronger voice emerged. Global corporations operating with a common rule of law are now society’s strongest force to improve the human condition. This year we saw companies increasingly finding their voice. The World’s Most Ethical Companies in particular continued to show exemplary leadership,” commented Ethisphere’s CEO, Timothy Erblich. “I congratulate everyone at Kennametal for being recognized again as one of the World’s Most Ethical Companies.”
The share is moved forward to its percent change from 52-week low of 30.00% and hanging back from its percent change from 52-week high of -20.22%. Shares price moved down from its 50 days moving average with -12.83% and remote positively from 200 days moving average with 0.81%.
Shares of The Southern Company (NYSE:SO) held volume of 66521 shares as compare to its average volume of 6557.08 shares. The board of Southern Company (NYSE:SO) released that appointment of Dr. Ernest Moniz, the former United States Secretary of Energy and renowned physicist, as an independent director effective March 1, 2018. He will stand for election to the board of directors by stockholders at the 2018 annual meeting. Dr. Moniz will serve on the Operations, Environmental and Safety Committee and the Nominating, Governance and Corporate Responsibility Committee of the board. He also will serve on the Business Security Subcommittee, which focuses on cyber and physical risks across the Southern Company system.
“Ernie Moniz enhances our board by bringing a strong energy science and technology background together with broad expertise in energy and environmental policy, which will be invaluable as we continue to develop innovative solutions to shape America’s energy future,” said Chairman, President and CEO Thomas A. Fanning.
“I have long admired Southern Company for its innovative approach to research and development within the clean energy space, and look forward to joining the board,” said Moniz. “Tom is an industry leader and I’m eager to work with him and the entire board in helping Southern advance at a time of great change in the energy world.”
Dr. Moniz served as United States Secretary of Energy from 2013 to early 2017. As Secretary, he advanced energy technology innovation, nuclear security and strategic stability, cutting-edge capabilities for the American scientific research community and environmental stewardship. He was a member of the President’s Council of Advisors on Science and Technology from 2009 to 2013 and received the Department of Defense Distinguished Public Service Award in 2016.
SO had a trade volume of 66521 shares as compared to average trading capacity of 6557.08 shares. The firm has price to sales ratio of 1.94 and its price to book per share was 1.86. Similarly fell performance for the quarter recorded as -14.09% and for the year was -8.91%, while the YTD performance remained at -7.09%.