Company expects to produce 680,000 to 760,000 gold-equivalent ounces from its four operating mines.

Irrigation of the leach pad is underway and first gold pour is expected in Q4 2020.

According to GlobalData, all the world’s top gold producers are expected to experience a reduction in output during 2020.

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Under the sales agreement, Iamgold will pay TomaGold C$500,000 in cash and C$8 million in shares.

Study suggests a 16,875 t/d heap-leach operation, using existing processing capacity, generating an average of 69,000 gold oz. per year between 2021 and 2027 at AISCs of $1,204 per oz.