UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16
OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of January, 2019
Commission File Number: 001-31528
IAMGOLD Corporation
(Translation of registrant's name into English)
401 Bay Street Suite 3200, PO Box 153
Toronto, Ontario, Canada M5H 2Y4
Tel: (416) 360-4710
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
[ ] Form 20-F [ x ] Form 40-F
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Note: Regulation S-T Rule
101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely
to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
Note: Regulation S-T Rule
101(b)(7) only permits the submission in paper of a Form 6-K if submitted to
furnish a report or other document that the registrant foreign private issuer
must furnish and make public under the laws of the jurisdiction in which the
registrant is incorporated, domiciled or legally organized (the registrants
home country), or under the rules of the home country exchange on which the
registrants securities are traded, as long as the report or other document is
not a press release, is not required to be and has not been distributed to the
registrants security holders, and, if discussing a material event, has already
been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information
contained in this Form, the registrant is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes [ ]
No [ x ]
If "Yes" is marked, indicate below the file number assigned
to the registrant in connection with Rule 12g3-2(b): 82- ________
SUBMITTED HEREWITH
Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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IAMGOLD CORPORATION |
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(Registrant) |
|
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Date: January 15, 2019 |
By: |
/s/ Tim Bradburn |
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Tim Bradburn |
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Title: |
Vice President, Legal and Corporate Secretary |
NEWS RELEASE
IAMGOLD ENTERS INTO $170 MILLION GOLD PREPAY
ARRANGEMENT
All monetary amounts are expressed in US dollars,
unless otherwise indicated.
Toronto, Ontario, January 15, 2019 IAMGOLD Corporation
(IAMGOLD or the Company) today announced that it has entered into a
forward gold sale arrangement with financial institutions whereby the Company
will receive a prepayment amount of $170 million in exchange for delivering
150,000 ounces in 2022, with a gold floor price of $1,300 per ounce and a cap
price of $1,500 per ounce. This Prepaid Gold Arrangement (Prepay) is supported
by a syndicate of banks including Citibank N.A. and National Bank of Canada.
Terms of the Prepay are provided below:
|
Funding of $170 million is provided to IAMGOLD
in December 2019 in exchange for physical delivery of 150,000 ounces of
gold over the period of January 2022 to December 2022. |
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Delivery can be made from the production of
gold from any of IAMGOLDs operating mines. |
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The cost of the Prepay arrangement is 5.38% per
annum, which is based on the date the prepayment is advanced, quantity of
ounces settled and timing of delivery. |
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The collar on the prepay at the time of
delivery of ounces occurs as follows: |
|
o |
If the prevailing gold price equal to or less
than $1,300 per ounce, there is no incremental payment to IAMGOLD or from
IAMGOLD; |
|
o |
If the prevailing gold price is greater than
$1,300 per ounce but less than $1,500 per ounce, the syndicate pays
IAMGOLD the difference between the prevailing gold price and $1,300;
|
|
o |
If the prevailing gold price is greater than
$1,500 per ounce, the syndicate pays IAMGOLD the incremental difference
between $1,300 and $1,500, or $200 per ounce. |
|
The funding is expected to be accounted for
under IFRS as deferred revenue. |
Entering into the gold prepay provides additional liquidity to
IAMGOLD at attractive terms to support the execution of the Companys growth
strategy, while also mitigating any downside price risk below $1,300 an ounce on
150,000 ounces of production, said Carol Banducci, EVP and Chief Financial
Officer.
Forward Looking Statement
This news
release contains forward-looking statements. All statements, other than of
historical fact, that address activities, events or developments that the
Company believes, expects or anticipates will or may occur in the future
(including, without limitation, statements regarding expected, estimated or
planned gold production, cash costs, margin expansion, capital expenditures and
exploration expenditures and statements regarding the estimation of mineral
resources, exploration results, potential mineralization, potential mineral
resources and mineral reserves) are forward-looking statements. Forward-looking
statements are generally identifiable by use of the words will, should,
continue, expect, anticipate, estimate, believe, intend, to earn,
to have, plan or project or the negative of these words or other
variations on these words or comparable terminology. Forward-looking statements
are subject to a number of risks and uncertainties, many of which are beyond the
Companys ability to control or predict, that may cause the actual results of
the Company to differ materially from those discussed in the forward-looking
statements. Factors that could cause actual results or events to differ
materially from current expectations include, among other things, without
limitation, failure to meet expected, estimated or planned gold production, cash
costs, margin expansion, capital expenditures and exploration expenditures and
failure to establish estimated mineral resources, the possibility that future
exploration results will not be consistent with the Company's expectations,
changes in world gold markets and other risks disclosed in IAMGOLDs most recent
Form 40-F/Annual Information Form on file with the United States Securities and
Exchange Commission and Canadian provincial securities regulatory authorities.
Any forward-looking statement speaks only as of the date on which it is made
and, except as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward-looking statement.
About IAMGOLD
IAMGOLD (www.iamgold.com) is a mid-tier mining company with four
operating gold mines on three continents. A solid base of strategic assets in
North and South America and West Africa is complemented by development and
exploration projects and continued assessment of accretive acquisition
opportunities. IAMGOLD is in a strong financial position with extensive
management and operational expertise.
For further information please contact:
Indi Gopinathan, Investor Relations Lead, IAMGOLD
Corporation
Tel: (416) 360-4743 Mobile: (416) 388-6883
Martin Dumont, Senior Analyst Investor Relations,
IAMGOLD Corporation
Tel: (416) 933-5783 Mobile: (647) 967-9942
Toll-free: 1-888-464-9999 info@iamgold.com
Please note:
This entire news release may be
accessed via fax, e-mail, IAMGOLD's website at www.iamgold.com and through
Newsfiles website at www.newsfilecorp.com.
All material information on IAMGOLD can be found at www.sedar.com or at www.sec.gov.
Si vous désirez obtenir la version française de ce communiqué,
veuillez consulter le http://www.iamgold.com/French/accueil/default.aspx.
page 2 of 2
This regulatory filing also includes additional resources:
exhibit99-1.pdf
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