| Iamgold (IAG) Acquires Common Shares of TomaGold for $2.5M | |
| | |
|
Iamgold Corporation IAG announced that it has acquired around 27.8 million common shares of TomaGold Corporation, or roughly 19.98% of the outstanding common shares of the latter, for $2.5 million or 9 cents per share. Prior to this transaction, the company did not own any common shares of TomaGold.
According to Iamgold, the company does not intend to acquire control of TomaGold through this deal. However, it will monitor the business, financial condition, prospects and potential capital requirements of the latter. Depending on the evaluation of these and other critical factors, Iamgold may decrease or increase its ownership in future.
Iamgold and TomaGold currently hold a 50:50 joint venture (JV) at the Monster Lake project, located southwest of Chibougamau, Quebec, Canada. Iamgold is the operator of this JV and it has the option to earn an additional 25% undivided interest for a total 75% undivided interest in the project by completing additional exploration expenditures by Jan 1, 2022.
The company has been conducting consecutive exploration campaigns on the property which is underlain by Archean volcanic rocks of the Obatogamau Formation. Iamgold is targeting high grade gold mineralization mainly along a 3 kilometer range of the Monster Lake Structural Corridor.
Shares of Iamgold have moved up 22.1% in the last three months versus the 1.6% decline of its industry. |
|
Read the rest of the article at
https:
|
IAMGOLD Corporation
|
|
PRODUCER |
CODE : IMG.TO |
ISIN : CA4509131088 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
IAMGOLD is a gold producing company based in Canada. IAMGOLD produces gold, diamonds, lead, niobium, rare earth, silver and zinc in Botswana, in Canada, in Ecuador, in Ghana, in Guyana, in Indonesia, in Mali, in Peru, in South Africa, in Suriname and in Tanzania, develops gold in Burkina Faso, in Ecuador and in French Guyana, and holds various exploration projects in Canada, in Ecuador, in Honduras, in Mali, in Peru and in South Africa. Its main assets in production are OMAI MINE in Guyana, MOUSKA MINE, PORCUPINE, SLEEPING GIANT, NIOBEC, DOYON and GRAND DUC in Canada, YATELA and SADIOLA in Mali, MUPANE in Botswana, DAMANG PROJECT, TARKWA and TEBEREBIE in Ghana, ROSEBEL in Suriname, ZARUMA in Ecuador, TAMBORAQUE in Peru, ARDO MINE in South Africa, BUCKREEF in Tanzania and RAWAS GOLD PROJECT in Indonesia, its main assets in development are ESSAKANE in Burkina Faso, CAMP CAIMAN in French Guyana and QUIMSACOCHA PROJECT in Ecuador and its main exploration properties are TEX-SOL, LESPERANCE, CREVIER and WESTWOOD in Canada, BAMBADJI in Senegal, ALAMOUTALA (SADIOLA II) and SIRIBAYA in Mali, GILT EDGE MINE & ANCHOR HILL in Ecuador, PODEROSA MINE in Peru and VUELTAS DEL RIO / EL ZAPOTAL in Honduras. IAMGOLD is listed in Australia, in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 2.3 billions as of today (US$ 1.7 billions, € 1.6 billions). Its stock quote reached its highest recent level on April 28, 2006 at CA$ 9.98, and its lowest recent point on September 30, 2022 at CA$ 1.27. IAMGOLD has 464 620 000 shares outstanding. |