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IAMGOLD Secures $300M to Expand Gold Mine Stake
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IAMGOLD Secures $300M to Expand Gold Mine Stake

IAMGOLD (TSE:IMG) has released an update.

IAMGOLD Corporation successfully closed a significant financing deal on May 24, 2024, raising $300.24 million through the sale of 72 million common shares at $4.17 each. The proceeds are intended to fund the acquisition of an additional 9.7% interest in the Côté Gold Mine, aiming to increase the company’s ownership back to 70%. The offering included an over-allotment option for underwriters, which could bring total proceeds to approximately $345 million if fully exercised.

For further insights into TSE:IMG stock, check out TipRanks’ Stock Analysis page.

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