IAMGOLD Corp (IAG) News & EventsIAGNews & EventsIAMGOLD Corp

IAMGOLD Completes Sale of 35% Interest in Bambadji Joint Venture

IAMGOLD (IAG) announced the completion of the sale of its indirect 35% interest in the Bambadji Joint Venture and its attributable interest in the Bambadji Sud exploration permit in Senegal to Fortuna Mining (FSM) as part of a transaction that generated approximately $70M in cash proceeds to IAMGOLD, before taxes and transaction costs. The divestiture monetizes a non-core exploration asset and supports IAMGOLD's continued focus on its existing operating and development portfolio. The Bambadji JV controls the Bambadji and adjacent Bambadji Sud exploration permits located in the Kedougou region of southeastern Senegal, approximately 850 kilometres southeast of Dakar along the border with Mali. Total consideration payable by Fortuna to the joint venture partners, Barrick Mining (B) and IAMGOLD, on a combined 100% basis consists of: $200M in cash payable on closing; and a 0.5% net smelter return royalty, capped on the first 1.75M ounces of gold produced from the Bambadji permit. The Bambadji JV was originally governed by a joint venture agreement dated May 23, 2016 between subsidiaries of IAMGOLD (35%) and Barrick (65%). IAMGOLD's attributable share of the cash consideration is approximately $70M, before Senegalese capital gains taxes and transaction costs, with the company also retaining its proportionate share of the NSR royalty.

Cabaletta Bio Borrow Rate Increases to 4.23%

Latest data shows the largest indicative borrow rate increases among liquid option names include: Cabaletta Bio (CABA) 4.23% +1.87, Tradr 2X Long IREN Daily ETF (IREX) 23.52% +1.55, Li Auto (LI) 2.49% +1.40, ProShares UltraPro Short S&P 500 (SPXU) 15.54% +0.90, ProShares Ultra VIX Short Term Futures (UVXY) 5.83% +0.41, New Era Energy & Digital Inc (NUAI) 25.61% +0.23, ProShares Short VIX Short Term Futures (SVXY) 1.82% +0.20, PROSHARES ULTRA BITCOIN ETF (BITU) 1.47% +0.19, Standard Lithium (SLI) 1.80% +0.18, and IAMGOLD (IAG) 0.42% +0.17.

IAMGold Stock Rises 16.2% to $19.96

IAMGold is up 16.2%, or $2.79 to $19.96.