Post by
Luke555 on Sep 14, 2022 12:54pm
Pertinent comment from RBC
To the IAMGOLD shareholders: Latest comment from RBC.
RBC Capital Markets Says Cote Project Funding A Critical Deliverable For IAMGOLD
11:07 AM EDT, 09/14/2022 (MT Newswires) -- RBC Capital Markets said Wednesday that securing full funding for the Cote gold project remains a critical outstanding deliverable for IAMGOLD Corp. (IMG.TO).
IAMGOLD's cash and equivalents in the second quarter totaled $452 million while liquidity reached $801 million. In comparison, equity capital spending outstanding for the Cote project was $1.34 billion from May onwards.
According to RBC, IAMGOLD is pursuing a strategic review at its Rosebel mine and development assets in West Africa and South America. The company also filed a mixed shelf of up to $500 million in equity or debt or other securities.
In early August, the miner provided an updated mine plan for Cote, where construction was 57% complete. A search for a permanent CEO is also ongoing.