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Sumitomo backs IAMGold project

IAMGold (CN:IMG) has unveiled a weighty prefeasibility study for the Côté gold project in Ontario and underlined the proposition with a US$195 million deal with Sumitomo Metal Mining (JP:5713) for 27.75% of it.

Sumitomo backs IAMGold project Sumitomo backs IAMGold project Sumitomo backs IAMGold project Sumitomo backs IAMGold project Sumitomo backs IAMGold project

The symbol's on the Côté: IAMGold is gunning for production at the Côté project in Ontario

The Côtéproject, near Golgama, has probable reserves of 5.9 million ounces of gold and an estimated annual production of 320,000oz over 17 years.

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