IAMGOLD Corp (TSE:IMG) has released an update.
IAMGOLD Corp has announced a strategic move to improve its financial position by deferring gold prepay obligations from Q2 2024 to 2025, effectively boosting its Q2 2024 cashflow by about $73.6 million. This maneuver is timed to coincide with the initial production phase of their Côté Gold mine, aimed at enhancing liquidity and mitigating risks such as delays in asset transactions. The company has secured competitive terms with funding of $59.4 million for the deferral, maintaining beneficial exposure to gold price movements within a specified range.
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