IAMGOLD Submits Formal Notice To Sumitomo Metal Mining For Repurchase Of 9.7% Cote Gold Mine Interest
Portfolio Pulse from Benzinga Newsdesk
IAMGOLD has submitted a formal notice to Sumitomo Metal Mining to repurchase a 9.7% interest in the Côté Gold Mine, which will restore IAMGOLD's full 70% ownership. The transaction is expected to close on November 30, 2024.
September 30, 2024 | 9:06 pm
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IAMGOLD is set to regain full 70% ownership of the Côté Gold Mine by repurchasing a 9.7% stake from Sumitomo Metal Mining. This move could strengthen IAMGOLD's asset base and potentially improve its financial performance.
The repurchase of the 9.7% stake in Côté Gold Mine will restore IAMGOLD's full ownership, potentially enhancing its asset value and financial performance. This strategic move is likely to be viewed positively by investors.
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