Loading ...Toronto, Ontario–(Newsfile Corp. – January 28, 2019) – IAMGOLD Corporation (TSX: IMG) (“IAMGOLD” or the “Company”) today announced its decision not to proceed with construction of the Côté Gold Project (“Côté”) in Ontario.
“We are focused on creating superior shareholder value by allocating our capital to our best near- and long-term opportunities in a manner that is consistent with shareholder expectations, and with our goal of maintaining a strong balance sheet. We have substantially de-risked the Côté Gold Project, from both a technical and financial perspective, and believe in its potential to positively transform the Company. However, we have decided to wait for improved, and sustainable, market conditions in order to proceed with construction,” said IAMGOLD’s President and CEO, Steve Letwin.