IAMGOLD Corporation finalized the purchase of Mines D'Or Orbec Inc. on December 22 2025, making Orbec a wholly‑owned subsidiary. The deal was structured at C$0.125 per Orbec share, consisting of 0.003466 IAMGOLD common shares and C$0.0625 in cash per share, a transaction that adds a 25,250‑hectare Muus Project adjacent to IAMGOLD’s Nelligan Gold Project in the Chibougamau district of Quebec.
The acquisition strengthens IAMGOLD’s Canadian asset base, which now contains roughly 80 % of its measured and indicated ounces and 90 % of inferred ounces. By consolidating the Muus Project with the existing Nelligan complex, IAMGOLD is building one of Canada’s largest pre‑production gold projects, positioning the company for accelerated development and a more stable revenue stream.
IAMGOLD’s CEO, Renaud Adams, highlighted the strategic importance of the deal, noting that the acquisition “expands our pipeline for future development and positions us for additional capital‑efficient growth in a stable jurisdiction.” The move is part of a broader transformation that has seen the company shift focus from West African assets to a low‑risk Canadian platform, a pivot that has already paid off in the form of stronger financial performance.
In Q3 2025, IAMGOLD reported adjusted earnings of $0.30 per share, a 200 % increase from the $0.10 per share earned in Q4 2024, and revenue of $706.7 million, up 61 % year‑over‑year. The earnings beat was driven by disciplined cost management and higher gold prices, while the revenue growth reflected increased production at the Côté Gold Mine and a rebound in the Canadian market. Management emphasized that the company’s trailing‑twelve‑month EBITDA now exceeds $1 billion and that it has repaid approximately $270 million of its second‑lien notes, underscoring a strong balance‑sheet position.
The acquisition, coupled with the company’s recent record mine‑site free cash flow of $292.3 million in Q3 2025, signals a robust financial footing that supports further strategic investments. IAMGOLD’s focus on a Canadian‑centric portfolio is expected to reduce geopolitical risk, improve operational predictability, and enhance long‑term shareholder value.
The market has responded positively to the combination of a strong earnings beat, a strategic asset expansion, and a clear shift toward a low‑risk operating base, reinforcing investor confidence in IAMGOLD’s growth trajectory.
The acquisition is a material event that will likely influence long‑term investment models, as it expands the company’s resource base, improves its risk profile, and supports a higher cash‑flow generation outlook.
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