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IAMGOLD Reports First Quarter 2023 Results; Attributable Gold Production of 113,000 Ounces
All monetary amounts are expressed in U.S. dollars, unless otherwise indicated. Toronto, Ontario--(Newsfile Corp. - May 11, 2023) - IAMGOLD Corporation (NYSE: I
About this update from Iamgold Corporation
[{"type":"text","content":" All monetary amounts are expressed in U.S. dollars, unless otherwise indicated. Toronto, Ontario--(Newsfile Corp. - May 11, 2023) - IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (\"IAMGOLD\" or the \"Company\") today reported its financial and operating results for the first quarter ended March 31, 2023. HIGHLIGHTS: Operations Attributable gold production from continuing operations was 113,000 ounces. Revenues from continuing operations were $226.2 million from sales of 119,000 ounces (109,000 ounces on an attributable basis) at an average realized gold price of $1,893 per ounce. Cost of sales per ounce sold from continuing operations was $1,176, cash cost1 per ounce sold from continuing operations was $1,094 and all-in-sustaining-cost1 (\"AISC\") per ounce sold from continuing operations was $1,525. Financial Net earnings attributable to equity holders1 of $6.3 million or $0.01 per share and adjusted net earnings attributable to equity holders1 of $24.9 million or $0.05 per share. Net cash from operating activities was $13.4 million. Net cash from operating activities, before movements in non-cash working capital and non-current ore stockpiles1, was $55.7 million. Earnings before interest, income taxes, depreciation and amortization (\"EBITDA\")1 from continuing operations was $68.4 million and adjusted EBITDA1 was $83.0 million. Mine-site free cash flow1 from continuing operations was $2.7 million. Cash and cash equivalents of $532.1 million as at March 31, 2023. The Company repaid $255.0 million of the secured revolving credit facility (\"Credit Facility\") during the first quarter 2023 and the available balance is $257.3 million as at March 31, 2023. Côté Gold As of March 31, 2023, the Côté Gold project was estimated to be 79.8% complete. The Company incurred attributable construction costs at Côté of $158.6 million in the first quarter 2023, and approximately $1.37 billion since the commencement of construction, on a 70% basis. Sumitomo Metal Mining Co., Ltd. and SMM Gold Cote Inc. (\"Sumitomo\" or \"SMM\") funded $189.0 million of the Company's funding obligation and an incremental $7.1 million based on its increased ownership during the first quarter 2023 as per the Côté Gold Joint Venture Funding and Amending Agreement (\"JV Funding and Amending Agreement\"), reducing the Company's interest in the unincorporated joint vent...