Business
IAMGOLD Reports Second Quarter 2023 Results
All monetary amounts are expressed in U.S. dollars, unless otherwise indicated. Toronto, Ontari...
About this update from Iamgold Corporation
[{"type":"text","content":"IAMGOLD Reports Second Quarter 2023 ResultsAll monetary amounts are expressed in U.S. dollars, unless otherwise indicated.Toronto, Ontario--(Newsfile Corp. - August 10, 2023) - IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (\"IAMGOLD\" or the \"Company\") today reported its financial and operating results for the second quarter ended June 30, 2023. HIGHLIGHTS:OperationsAttributable gold production from continuing operations was 107,000 ounces. Revenues from continuing operations were $238.8 million from sales of 121,000 ounces (111,000 ounces on an attributable basis) at an average realized gold price of $1,973 per ounce.Cost of sales per ounce sold from continuing operations was $1,376, cash cost1per ounce sold from continuing operations was $1,372 and all-in-sustaining-cost1(\"AISC\") per ounce sold from continuing operations was $1,912.Attributable gold production guidance for 2023 is unchanged and is expected to be in the range of 410,000 to 470,000 ounces. Full year costs are expected to come in at the top end of the guided ranges of between $1,125 and $1,175 per ounce sold for cash costs1 and between $1,625 to $1,700 per ounce sold for AISC1.In health and safety, for the six months ended June 30, 2023, the Company reported a DARTFR (days away, restricted, transferred duty frequency rate) of 0.39 and a TRIFR (total recordable injuries frequency rate) of 0.68, with a decreasing trend since the last quarter. FinancialNet earnings attributable to equity holders1of $92.6 million or $0.19 per share and adjusted net loss attributable to equity holders1of $3.3 million or $0.01 per share.Net cash from operating activities was $23.2 million. Net cash from operating activities, before movements in non-cash working capital and non-current ore stockpiles1was $21.8 million. Earnings before interest, income taxes, depreciation and amortization (\"EBITDA\")1from continuing operations was $166.2 million and adjusted EBITDA1was $63.8 million.Mine-site free cash flow1from continuing operations was $14.6 million.The Company has available liquidity of $1,200.2 million comprised of cash and cash equivalents of $747.7 million and the available balance of the secured revolving credit facility (\"Credit Facility\") of $452.5 million as at June 30, 2023.Côté GoldAs of June 30, 2023, the Côté Gold Project was estimated to be 85.7% c...