Canadian miner said it wasn’t aware of any “material change” that would account for the sharp price rise in its stock on Thursday and into early trading on Friday.
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Iamgold and JV partner Sumitomo Metal Mining Co. have discovered a new gold zone at their Côté project.
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A planned reduction due to the stage of mine development and a realignment due to the 2019 guidance numbers were considered in making the decision.
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The miner reported that Proven and Probable gold Reserves reached 17.9 million ounces at the end of 2018.
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Building activities at Côté Gold, located in the Abitibi gold belt in Ontario, were slated to start in the first months of 2019, with pre-production beginning in late 2020.
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