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

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.

Related Articles
TipRanks Canadian Auto-Generated NewsdeskIAMGOLD to Announce Q2 2024 Results and Host Call
TheFlyIAMGold price target raised to $4.90 from $4.80 at CIBC
TheFlyGlobex acquires two more gold properties through IAMGOLD transaction
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Optimize your mobile reading experience. Download the TipRanks App today!