Looking a lot more lustrous to investors, shares of Iamgold (NYSE: IAG) are flying off the shelves today. The company announced this morning that it's selling its interest in Rosebel Gold Mines (a move that will strengthen its balance sheet), and investors are clearly pleased.

As of 11:28 a.m. ET on Tuesday, shares of Iamgold are up 16.9%.

Slimming down the assets in its portfolio, Iamgold has entered into a definitive agreement with Zijin Mining Group regarding Rosebel Gold Mines. According to the terms of the agreement, Iamgold will sell its 95% interest in Rosebel for cash consideration of $360 million.

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Source Fool.com