IAMGOLD shares surge on progress at the Côté gold project

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Essakane, located in northeastern Burkina Faso, achieved attributable production in the fourth quarter of 108,000 ounces, bringing the full year production to 372,000 ounces, nearing the top end of the annual guidance of 380,000.

The Westwood project in Québec achieved production in the fourth quarter of 28,000 ounces, bringing the full year production to 93,000 ounces and beating the annual guidance of 70,000 to 90,000 ounces.

IAMGOLD also reported that the Côté gold project’s commissioning activities are progressing well with the start-up of primary crushing circuit ongoing. Initial production remains on track for March 2024.

The Côté project is being constructed through a partnership with Sumitomo Metal Mining. Once complete, it is expected to become the third-largest gold mine in Canada.

Construction of Côté began in 2020 and was expected to take three years to build.

The lifespan of the gold mine is pegged at 16-18…

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