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IAMGOLD has closed the funding gap for its 365,000oz per year Canadian Cote gold project through an amendment to the joint venture and the sale of its Bambouk assets – with the project 70% and on track for early 2024 production.
IAMGOLD’s share price rose 24.40% day on day to C$3.11 (US$2.28).
Sumitomo Metal Mining has agreed to provide up to US$340 million over the course of 2023 in return for about a 10% interest in Cote, IAMGOLD said.
Shares gain after disposal, market had expected equity raise
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