Friday, 17th August 2007 (2281 views)

Second quarter revenue for mineral exploration company Iamgold was up by almost double year-on-year, it has been revealed.

For the three months ending June 30th, Iamgold's revenue generated from the sale of gold was $167,306 compared to $71,955 for the corresponding period in 2006.

"During the second quarter of 2007, the company's consolidated mining revenues were 133 per cent higher than the second quarter of 2006," a company statement read.

According to Iamgold, this increase is attributable to a rise in the average gold price and higher gold production thanks to the Rosebel, Doyon and Sleeping Giant mines.

Iamgold also notes that gold production at the operating mines was 59 per cent ahead of production in quarter two of 2007 compared to the second quarter of 2006 - again attributable to the addition of production from the Rosebel, Doyon and Sleeping Giant mines.

The Rosebel mine produced 71,000 ounces of gold during the second quarter of 2007.

 

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