Essakane

IAMGOLD (NYSE:IAG) Drops Over 5 Percent, Even with Starting Production at Essakane Mine Six Months Early

IAMGOLD Corporation (NYSE:IAG) participated in the gold sell-off Thursday, as their recent good news of beginning production six-months ahead of schedule at their Essakane gold mine wasn’t enough to overcome the punishing trend. Gold prices fell below $1,200 at one point in the trading session as investors decided to go with Treasury’s for a safe haven, although that is sure to change soon.

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Iamgold (TSE:IMG) Down Over 6 Percent

Just about every gold miner has been experiencing the correction in gold prices, and Iamgold (TSE:IMG) (NYSE: IAG) was no different, taking it on the chin Thursday, dropping 6.14 percent in New York, or $1.05, and 4.04 percent in Toronto, or $0.72. Volume didn’t swing as much as it did with other gold mining stocks, as they were relatively within their 3-month range, up to 7,439,012 in New York,

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