The TSX-listed stock of Canadian gold producer Iamgold gained nearly 12% on Tuesday following news late on Monday that it has agreed to sell a 30% stake in its Côté gold project, in Ontario, and the publication of a positive prefeasibility study for the mine.
Toronto-based Iamgold has reached agreement with Tokyo-based Sumitomo Metal Mining to buy a 30% stake in the Côté project for $195-million.
