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IAMGOLD Meets 2020 Guidance: Producing 653,000 Ounces of Gold and Exiting the Year with $950 Million in Cash on Hand
All 2020 figures are preliminary and unaudited and subject to final adjustment. All amounts ar...
About this update from Iamgold Corporation
[{"type":"text","content":"IAMGOLD Meets 2020 Guidance: Producing 653,000 Ounces of Gold and Exiting the Year with $950 Million in Cash on HandAll 2020 figures are preliminary and unaudited and subject to final adjustment. All amounts are in US dollars, unless otherwise indicated.Toronto, Ontario--(Newsfile Corp. - January 19, 2021) - IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (\"IAMGOLD\" or the \"Company\") announces preliminary operating results for the fourth quarter and year-end 2020, as well as guidance for 2021.Gordon Stothart, President and CEO of IAMGOLD, commented, \"We achieved our target production and cost guidance in 2020 in the face of many and varied challenges throughout the year. Essakane had its strongest quarter at the end of the year, Rosebel production was up quarter-over-quarter and Westwood contributed by processing stockpile and Grand Duc open pit ore. Looking forward, IAMGOLD's unique growth platform will enable our transformation to a lower cost producer of over one million ounces of annual production within the next two-and-a-half years. Our North American platform will see focused execution on the ongoing construction at the Côté Gold Project and we additionally expect to complete a maiden resource estimate at the nearby Gosselin discovery, with further advanced exploration at the Nelligan / Monster Lake district. We are developing our West African platform through ongoing de-risking at the Boto Gold Project in Senegal, and through the exploration and evaluation of nearby deposits and new discoveries, along with satellite targets anchored by the Rosebel mine at our South American platform.\"Performance Highlights for 2020Attributable gold production of 653,000 ounces, at the mid-point of guidance of 630,000 to 680,000 ounces; fourth quarter production of 169,000 ounces.Attributable gold sales of 646,000 ounces for the year and 172,000 ounces for the fourth quarter. Total cash costs1 expected at the bottom end of guidance of $980 to $1,010 per ounce produced.All-in sustaining costs1 expected around the low end of guidance of $1,240 to $1,270 per ounce sold.Approximately $986 million in cash, cash equivalents, short term investments, including restricted cash of $39 million, as at December 31, 2020. This cash position, coupled with our largely undrawn $500 million credit facility, brings our total available liquidity t...