The company IAMGOLD Corporation announced on 26 April 2023 that it has completed the sale of its 90% interest in the Boto Gold Project (“Boto”) in Senegal and its 100% interest in the Boto West, Senala West, Daorala early-stage exploration properties and the acquired interest in the Senala Option Earn-in joint venture, also in Senegal, for aggregate gross cash proceeds of approximately 197 million dollars. 6 million. The gross proceeds include deferred payments of approximately 32 million dollars which are expected to be received in the third trimeser of 2023. The remaining 10% stake in Boto will continue to be held by the Government of Senegal.
The sale of the Senegalese assets is part of the previously announced transactions with Managem under which IAMGOLD will receive approximately 282 million dollars (pre-tax) in consideration for the shares and subsidiary/intercompany loans of the entities that hold the Company’s interest in the Senegalese assets, the Diakha-Siribaya gold project in Mali and the Karita gold project and related exploration properties in Guinea.
The remaining transactions are expected to close by the end of the second trimester or the third quarter of 2023.
About IAMGOLD
IAMGOLD is a Canadian-based intermediate gold producer and developer with operating mines in North America and West Africa. The company is building the large-scale, long-life Côté Gold project in Canada in partnership with Sumitomo Metals & Mining of Japan, which is expected to begin production in early 2024. IAMGOLD employs approximately 3,300 people and is committed to maintaining its culture of responsible mining by applying high standards of environmental, social and governance (“ESG”) practices, including its commitment to Zero Harm®, in all aspects of its operations. IAMGOLD is listed on the New York Stock Exchange (NYSE: IAG) and the Toronto Stock Exchange (TSX: IMG) and is a constituent of the Jantzi Social Index (“JSI”), a market capitalization-weighted index of companies that meet a set of widely recognized environmental, social and governance evaluation criteria.
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