IAMGOLD, a company that owns and operates gold mines, agreed to acquire Vanstar, a gold exploration company, for $31m. "This transaction consolidates our interests in the highly prospective Nelligan deposit while building our exploration portfolio within Northern Quebec. Our exploration efforts at Nelligan to date, in partnership with Vanstar, have shown the potential for further resource expansion which we will continue to advance. While this transaction bolsters our Canadian exploration portfolio, the priority for IAMGOLD today remains focused on the successful commissioning, ramp up and growth of Côté Gold in Ontario. Côté is a project that is critical for the repositioning of this company, as once online, IAMGOLD will have a significantly higher production base and lower cost profile, providing a strong foundation of cashflow and growth opportunities in Canada," Renaud Adams, IAMGOLD President and Chief Executive Officer.