The new Iamgold will own 10 producing mines " 3 in Quebec, 3 in South America and 4 in Africa. Reserves are shown as 9.7 million ounces of gold and annual production is 1.1 million ounces.

This was almost a merger in that the former Cambior shareholders will own 43 pct of the combined total, plus receive a 31 pct premium to the recent share price. Not bad for a miner that had a lot of (US$60 million) debt and dubious cash flow.

But that debt will be cleared since the combined company has US$210 million cash.

I'll pass along industry research when I get it.

Iamgold Corp [GICS 15]
(IAG: Yahoo Finance file)
(IAG: StockChart chart)
(IAG: Investertech chart)
(IAG: ADVFN Financial Data)
(IAG: ADVFN Financial Data)

The $USD is rallying again today, and Dec. Gold is down -$7.00 to 579.50.

I am surprised at the bad-mouthing of the European and Canadian currencies by TH's today, but I guess it's important for them to try to cheerlead the equity markets to record levels.

As I see it, the troops at HB&B have fallen in line behind Generals Paulson and Bernanke. So the probability of a mutiny among the ranks is considerably diminished.

Of course the troops are willing for now to fight blind-folded. But that's another story.

As I see it, they can afford to do that since the Assets Under Management (AUM) and Assets Under Administration (AUA) is your money.

You are just going to have to take a harder line on this -- if you catch the drift.