Board-Ansicht
Mix-Ansicht- Das ist ja der Hammer: Iamgold - Bodo, 10.01.2002, 09:24
Das ist ja der Hammer: Iamgold
IAMGOLD launches gold money policy
IAMGOLD Corporation (TSE:IMG - news) is pleased to announce that it has established a Gold Money Policy whereby it has converted its discretionary funds into gold bullion. In terms of this Policy, the Company has converted US$6.5 million into some 0.7 tonnes of gold bullion at an average price of US$285.20 per ounce.
The amount of money held as gold is expected to increase in 2002 due to cash inflow from the Company's interests at its Sadiola (38% IMG) and Yatela (40% IMG) Gold Mines located in Mali, West Africa. The Company will currently retain
dollar amounts equal to one month of corporate operating expenses.
In the view of the Directors and Management of IAMGOLD, the present trading range for the price of gold is significantly below what we regard as appropriate and fair value in the current international economic and financial circumstances. Reserve currencies are presently under pressure because of fears of economic recession and because of measures taken by governments and monetary authorities to stimulate demand through increases in money supply and credit. Gold is the only form of currency which is ultimately not susceptible to governmental and central banking controls, and it thus constitutes the only
independent measure and store of value.
IAMGOLD Co-Chairmen, William Pugliese and Mark Nathanson said,"Notwithstanding current efforts within the gold industry to promote jewellery demand, we firmly believe in gold's primary monetary role as a safe store of value and that gold is the only form of money that is not someone's paper 'I.O.U.' Given our belief that gold is fundamentally undervalued relative to paper currency, it only stands to reason that we would prefer gold bullion to U.S. dollars."
Todd Bruce, President and COO said,"IAMGOLD's new Gold Money Policy distinguishes the Company from the bulk of its peers who are currently divided into two groups: Those companies which, through hedging programs, convert their gold to paper before it is produced, and those which convert their gold to paper the moment it is produced. Therefore, our Gold Money Policy establishes IAMGOLD as the Company that is truly backed by gold."
John Ross, Chief Financial Officer said,"If we as an industry don't demonstrate our belief in the monetary nature of gold, why should we expect anyone else to? We firmly believe that our industry can best promote gold by simply using it as money."
A discussion of IAMGOLD's Gold Money Policy can be found on the Company's website. A simultaneous audio webcast and conference call regarding IAMGOLD's new Gold Money Policy will take place on January 11, 2002 at 11:00 am Eastern
Standard Time. If you would like to participate in the audio webcast please see our website at www.iamgold.com or Canada Newswire's website at www.newswire.ca. If you would like to participate in the conference call, please call 416 640 4127 or 1 888 881 4892 (North American toll free) on January 11, 2002 at 10:50 am Eastern Standard Time.
kompletter Text: siehe Link
<ul> ~ http://biz.yahoo.com/cnw/020109/iamgold_money_policy_1.html</ul>
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