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.