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Iamgold in $170m prepayment deal

16th January 2019

By: Creamer Media Reporter

     

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Midtier mining company Iamgold has entered into a $170-million prepayment agreement for 150 000 oz of gold, the company announced on Tuesday.

The floor price has been set at $1 300/oz and the cap price at $1 500/oz.

CFO Carol Banducci explained that the prepayment agreement provided additional liquidity to support Iamgold’s growth strategy, while mitigating any downside price risk below $1 300/oz.

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Edited by Creamer Media Reporter

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