Mid-tier miner Iamgold Corp (IMG.TO) is ready for risk and acquisitions as it builds and then spends a cash pile that will soon top $1.5 billion. New Chief Executive Stephen Letwin, a newcomer to the booming gold sector, told Reuters that he aims to spin off Iamgold's non-gold asset into a new entity and speed up the process of developing new mines. "I find the time between discovery and actual production to be much longer than I think it needs to be," said Letwin, who took the reins at Iamgold (IMG.TO) last November after a career at the likes of Enbridge (ENB.TO) and TransCanada (TRP.TO). In an industry filled with colorful characters, but fairly conservative practices, Letwin's views sound refreshing. He wants to challenge his team to take risks and think outside the box, especially when it comes to bringing new ounces online.
Shares of ENB traded higher by 1.26% or $0.8/share to $64.52. In the past year, the shares have traded as low as $42.57 and as high as $66.38. On average, 314070 shares of ENB exchange hands on a given day and today's volume is recorded at 231050.
Shares of TRP traded higher by 0.08% or $0.0338/share to $43.3138. In the past year, the shares have traded as low as $31.29 and as high as $44.08. On average, 445760 shares of TRP exchange hands on a given day and today's volume is recorded at 209528.
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