On December 20, 2022, IAMGOLD Corporation announced its intent to sell its interests in exploration and development projects in Senegal, Mali, and Guinea (the "Bambouk assets") to Managem for approximately $282 million. The assets include a 90% stake in the Boto Gold Project in Senegal, with the remaining 10% held by the Senegal Government. Other assets involve gold projects in Mali, Guinea, and several exploration properties in Senegal. The $282 million consideration may fluctuate due to changes in intercompany loans, including a deferred $30 million payment after the closure of the Boto Gold Project. This sale is part of IAMGOLD's strategy, and the proceeds will be used to fund the nearly complete Côté Gold Project, set for production in 2024. By April 27, 2023, Managem confirmed the completion of its acquisition of IAMGOLD's assets in Senegal, having paid $197 million, inclusive of the deferred $30 million. Managem will finalize the purchase of IAMGOLD’s assets in Guinea and Mali in the upcoming third quarter. The deal reinforces Managem's position as a leading gold producer in West Africa. Advisors for the transaction included BMO Capital Markets and Fasken Martineau Dumoulin LLP for IAMGOLD, and Sprott Capital Partners and Naciri & Associés Allen & Overy for Managem.