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| Q: What do you consider IAMGOLD's greatest strength? |
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Steve: Our people. Whether travelling to our mines or walking the floors of the corporate offices, from what I've seen and heard, the IAMGOLD people are proud to be part of this Company. They're motivated. They're resourceful. They want to be the best. And that's good for shareholders. |
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Q: What do people not know about you? |
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Steve: I have a strong bias for action. I believe a company should take the time to weigh its options carefully, but once the optimum strategies for creating shareholder value are determined, implement them with a sense of urgency.
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| Q: What is your vision and how do you plan to increase shareholder value? |
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Steve: I would like to see IAMGOLD with a stable of long-life, low-cost mines which we both own and operate. To increase shareholder value we have a new four-part strategic plan. First, we will focus on organic growth opportunities at our core assets – Rosebel, Essakane and Westwood. Second, we will restructure our asset portfolio to one in which 90% of
attributable gold production will come from mines that we own, compared
to approximately 70% today. Third, we plan to unlock the full value of our niobium asset, which is not reflected in our share price. And finally, we will continue our exploration and development efforts, focusing mainly on
geographic regions we know best.
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Q: If you accomplish all that, won't IAMGOLD become a takover target for a larger competitor?
Steve: Our goal is to maximize shareholder value. We believe our new strategic plan will achieve that goal. Our best defense is a strong share price.
Q: How should investors think about Niobec?
Steve: Niobec is a long-life asset that generates significant cash flow, yet our share price does not reflect its full value. The issue is that niobium is a rare metal not that well understood by investors. It is a high-strength, low-weight additive that is crucial in the production of high-grade steel. There is strong demand for this metal used in the production of cars, pipes and structural products, with China being the fastest growing market. We believe that growth in steel production will continue to support high
niobium prices.
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