01:20 PM EDT, 04/01/2024 (MT Newswires) -- IAMGold ( IAG ) shares were last seen up 7.5% after the company over the long weekend said it completed its first gold pour at the Cote Gold Mine in Ontario.

Cote Gold is a joint venture between IAMGold ( IAG ), as the operator, and Sumitomo Metal Mining.

The company said commissioning activities at Cote have been progressing well, with the performance achieved in the crushing, HPGR, and processing circuits within expectations.

IAMGold ( IAG ) will now focus on the ramp-up of the operation to commercial production in the third quarter toward the goal of exiting the year at a 90% throughput rate.

The production guidance from Cote this year, on a 100% basis, remains unchanged at 220,000 to 290,000 ounces of gold, the company said.

IAMGold ( IAG ) shares were last seen up C$0.34 to C$4.86 on the Toronto Stock Exchange.

Price: 4.86, Change: +0.34, Percent Change: +7.52