GOLD DEVELOPMENT
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 (PFS) for the mine. Tokyo-based Sumitomo Metal Mining has agreed to buy a 30% stake in the Côté project from Toronto-based Iamgold for $195-million.
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