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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (63734)	2/14/2001 2:33:46 PM
From: long-gone	Read Replies (1) \| Respond to of 116791

Press Release SOURCE: IAMGOLD IAMGOLD reports another record year of production and lower cash costs at Sadiola Highlights: - During 2000, the Sadiola Gold Mine produced 611,442 ounces of gold at an average total cash cost of US$123 per ounce. - In the year 2001, Sadiola is expected to produce 522,000 ounces at an average total cash cost of US$144 per ounce (based on a realized gold price of $293/oz). - Yatela remains on schedule for commencement of commercial gold production by the middle of 2001. - Sadiola's proven and probable reserves as of December 31, 2000 amounted to 32.6 million tonnes at an average grade of 3.2 g/t containing 103.8 tonnes of gold (3.3 million ounces) calculated at a gold price of US$300 per ounce or 31.7 million tonnes at an average grade of 3.3 g/t containing 103.6 tonnes of gold (3.3 million ounces) at a gold price of US$270 per ounce. - Yatela's probable reserves as of December 31, 2000 amounted to 13.4 million tonnes at an average grade of 3.7 g/t containing 49.8 tonnes (1.6 million ounces) of gold calculated at a gold price of US$300 per ounce. At a gold price of US$270 per ounce the contained gold reduces by approximately 3.5%. - Consolidated cash position remains strong at US$44 million (unaudited) including US$27 million (unaudited) in corporate discretionary cash at December 31, 2000. MARKHAM, ON, Feb. 14 /CNW/ - IAMGOLD Corporation (TSE:IMG - news) is pleased to announce its operational results for the year ended 2000. The Company's full financial results will be released in March 2001. The Sadiola Gold Mine in Mali, West Africa produced 611,442 ounces of gold in 2000 at a direct cash cost of US$102 per ounce and a total cash cost of US$123 per ounce. The production for 2000 exceeded the original budget of 579,000 ounces by almost 6% and direct cash costs were 2.4% lower than forecast. "Sadiola's remarkable results in 2000 reflect both the world class nature of the deposit and the excellent performance of our operating partner, AngloGold." said Todd Bruce, President of IAMGOLD Corporation. Sadiola will continue to support IAMGOLD in addressing the challenging conditions currently facing our industry while we also look forward to Yatela making its contribution to our growth within the next six months." PERFORMANCE OF SADIOLA GOLD MINE : 2000 ACTUAL vs. BUDGET biz.yahoo.com