Currently viewing Global edition

Dimitrov leaves Sprott for gold producer

Toronto-based producer Iamgold has appointed Daniella Dimitrov as CFO, effective March 29.
Dimitrov leaves Sprott for gold producer Dimitrov leaves Sprott for gold producer Dimitrov leaves Sprott for gold producer Dimitrov leaves Sprott for gold producer Dimitrov leaves Sprott for gold producer

Daniella Dimitrov is joining Iamgold from Sprott Capital Partners

Staff reporter

The executive has an MBA, law degree, 20-plus years leadership experience in mining and capital markets and is currently partner, investment banking, at Sprott Capital Partners.

Dimitrov will have a three-day handover with Carol Banducci, who retires on March 31 after 14 years with the gold miner.

President and CEO Gordon Stothart thanked Banducci for her partnership, dedication and perspective and said she left Iamgold in a healthy financial position, fully funded for the construction of the US$1.3 billion Cote gold joint venture project in Ontario and the company's future transformation.

"[Dimitrov] brings a wealth of mining industry and financial and capital markets experience to her new role, which will support the company's targeted transformation to a lower cost, more geographically balanced, million-ounce producer of gold," Stothart said.

The company reported attributable gold production of 653,000 ounces in 2020, a year impacted by COVID-19, an earthquake and subsequent suspension of its Westwood mine in Quebec and an earlier stoppage at Rosebel in Suriname.

It expects to produce 630,000-700,000oz this year as it advances its growth platform.

It had US$986.1 million in cash and equivalents at December 31.

Iamgold shares (TSX: IMG) have spanned C$2-$7.07 over the past year and closed up 1.3% yesterday to $3.94, capitalising it at $1.87 billion (US$1.5 billion).