IAMGOLD Completes Term Loan Repayment and Receives Approval for Normal Course Issuer Bid

Core Points - IAMGOLD Corporation has successfully completed the repayment of its $130 million 2nd Lien Term Loan, marking a significant step in its debt reduction strategy [1][2] - The Toronto Stock Exchange has approved IAMGOLD's normal course issuer bid to repurchase up to 57 million common shares, representing approximately 9.92% of its public float as of November 30, 2025 [1][2] - The share buyback program reflects management's confidence in the company's long-term value and aims to enhance financial flexibility [2][5] Financial Strategy - The repayment of the term loan is part of IAMGOLD's broader strategy to strengthen its balance sheet and improve financial flexibility [2][5] - The company plans to fund the share repurchases from its operating cash flows, with acquired shares either being canceled or held in trust for future obligations [5][4] - As of November 30, 2025, IAMGOLD had 575,475,425 issued and outstanding shares, with a maximum daily purchase limit of 585,822 shares under the bid [3][4] Operational Outlook - IAMGOLD is optimistic about its growth opportunities in 2026, particularly regarding the expansion potential of its Côté Gold project and other operations like Westwood, Essakane, and Nelligan Mining Complex [2][8] - The company emphasizes disciplined capital allocation and believes that the market may undervalue its shares, making the buyback an attractive investment [2][5]