On closing, IAMGOLD received $500 million in cash after tax for the niobium business.
When combined with the Company’s current cash, cash equivalents and gold bullion (at market), the balance increases to approximately $800 million, exceeding the value of the company’s $650 million unsecured notes due in October, 2020.
The company also has an undrawn $500 million revolving credit facility.
As a result of the completed sale of Niobec, IAMGOLD is left in a very strong financial position with the ability to invest further in its existing portfolio of assets and to consider acquisition opportunities that will contribute to positive cash flow.
