IAMGOLD Corp (TSE:IMG) has released an update.
IAMGOLD Corporation has improved its financial outlook by deferring its Q2 2024 gold delivery obligations to 2025, which will enhance Q2 2024 cashflow by roughly $73.6 million based on current gold prices. This strategic move coincides with the ramp-up of its Côté Gold mine, setting the stage for anticipated commercial production in Q3 2024. The arrangements with a syndicate of banks also involve a forward sale of gold at advantageous terms, positioning IAMGOLD to benefit from the current strong gold market while retaining upside potential.
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