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Thursday, 11th August 2005 (4255 views)

Iamgold has announced a fourfold rise in earnings for the second quarter of 2005. <br/><br/>Its profits for the three-months to June 30th stood at $2.4 million, compared to just $600,000 for the same period of 2004. <br/><br/>The Canadian gold producer attributed this trend to record production at its Tarkwa mine in Ghana, in addition to a lack of the transaction costs which hampered its profits last year.<br/><br/>The mid-sized gold miner has also increased its stake of gold production in West Africa and from 108,000 ounces last year to 114,000 ounces.<br/><br/>However gold production costs have risen by 13 per cent to $275 for an ounce of gold.<br/><br/><br/><img alt="track" src='http://feeds.directnews.org.uk/feedtrack/dn.gif?feedid=196&itemid=15021180'/>© Adfero Ltd

 

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