IAMGOLD is a Canadian-headquartered intermediate gold producer that operates three mines: Côté Gold in Ontario, Essakane in Burkina Faso, and Westwood in Quebec. Together, these mines produced approximately 766,000 attributable ounces in FY25. IAMGOLD sells refined gold bars to refiners and bullion banks at spot prices, so revenue is essentially ounces produced multiplied by the gold price. Côté Gold is IAMGOLD's flagship asset — a large open-pit mine that reached commercial production in mid-2024 and hit nameplate throughput of 36,000 tpd in June 2025. Essakane is the primary current cash flow engine, though its costs are rising due to Burkina Faso's uncapped, gold-price-linked royalty structure, and its license expires in 2028 (IAMGOLD is negotiating an extension). Westwood is a smaller, high-grade underground mine that contributes positive cash flow at higher unit costs. IAMGOLD's growth strategy centers on two projects: a Côté-Gosselin expansion targeting a larger processing rate around 2029–2030, and the Nelligan Mining Complex in Quebec, where IAMGOLD consolidated a large land position holding roughly 4.3 million measured and indicated ounces, with a PEA targeted for 2027. After funding Côté's construction with expensive debt, IAMGOLD repaid its $400M term loan in December 2025 and shifted to capital returns, including an active share buyback program.