IAMGOLD (“IAMGOLD” or the “Company”) today announced positive results from a Pre-feasibility Study (“PFS”) for its Boto Gold Project (Project) in Senegal, West Africa. The results, which outline an economically viable project, justify the commencement of a Feasibility Study to further optimize the project development design and improve project economics.
Steve Letwin, President and CEO of IAMGOLD, said:
“Boto lies on a mineralized trend that is host to several significant producing gold mines. The team has worked exceptionally hard to advance this project from the initial discovery to a potential development project with a long life and attractive all-in sustaining costs.
It is important to understand that this is a work in progress, and although still short of our investment criteria typical for West Africa, the project provides excellent optionality at higher gold prices. We are continuing to aggressively optimize the project design to improve the overall economics.”