Iamgold Corporation · TSX:IMG
Iamgold — Investor Presentation (June 2022)
37 slides from Iamgold's investor presentation, June 2022
Slide 1: Corporate Presentation June 2022
JUNE 2022 CORPORATE PRESENTATION CORPORATE PRESENTATION TSX: IMG l NYSE: IAG June 2022 www.iamgold.com TSX: IMG l NYSE: IAG l www.iamgold.com
Slide 2: Cautionary Statement
JUNE 2022 CORPORATE PRESENTATION Cautionary Statement CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION All information included in this news release, including any information as to the Company’s future financial or operating performance and other statements that express management’s expec
Slide 3: Technical Information and Qualified Persons
JUNE 2022 CORPORATE PRESENTATION Technical Information and Qualified Persons CAUTIONARY NOTE TO U.S. INVESTORS REGARDING DISCLOSURE OF MINERAL RESERVE AND MINERAL RESOURCE ESTIMATES The mineral resource and reserve estimates contained in this presentation have been prepared in accordance with NI 43-
Slide 4: IAMGOLD – Building a Leading High-Margin Gold Producer
JUNE 2022 CORPORATE PRESENTATION IAMGOLD – Building a Leading High-Margin Gold Producer FOCUSING ON PROFITABILITY COMMITMENT TO ESG • 2022 gold production guidance of 570,000 – 640,000 • Zero Harm® commitment and focus on safety, while ounces building strong community partnerships • Prioritizing cap
Slide 5: Projects Overview
JUNE 2022 CORPORATE PRESENTATION Projects Overview ESSAKANE ROSEBEL WESTWOOD Burkina Faso, West Africa Suriname, South America Quebec, Canada (90% Ownership) (95% RGM | 66.5% Saramacca3) (100%) PRODUCTION Start-up 2010 2004 (Saramacca H2 20) 2014 Mine type Open pit Open pit Underground / Satellite o
Slide 6: Environmental, Social and Governance
JUNE 2022 CORPORATE PRESENTATION Environmental, Social and Governance Since 2007 Zero Harm® is our commitment to continually strive to reach the highest standards in human health & safety, minimize our environmental footprint, and work co-operatively with our host communities • AA in the MSCI1 ESG R
Slide 7: Q1 2022 Overview
JUNE 2022 CORPORATE PRESENTATION Q1 2022 Overview 2022 OPERATING PERFORMANCE OPERATING RESULTS Q1 2022 Q4 2021 Guidance • Gold production of 174,000 ounces (attributable) Essakane (90%) koz 112 98 360 – 385 • Highest quarterly production in two years Rosebel (95%) koz 46 42 155 – 180 • Strong perfor
Slide 8: 2022 Guidance
JUNE 2022 CORPORATE PRESENTATION 2022 Guidance SUSTAINING EXPANSION GOLD PRODUCTION1 (attributable ounces) CAPEX2,3 CAPEX2,3 (incl. capitalized stripping) Production expected to be stable over the year as planned grades normalize Essakane 360,000 – 385,000 to reserve grades partially offset by highe
Slide 9: Côté Gold, Canada
JUNE 2022 CORPORATE PRESENTATION Côté Gold, Canada 9
Slide 10: Côté Gold: Quarterly Progress Report
JUNE 2022 CORPORATE PRESENTATION Côté Gold: Quarterly Progress Report as at Mar 31, 2022 ~49% 96.6% $130M $617M $494M project completion detailed engineering incurred in Q1 incurred to date1 expended to date1 ACTIVITIES UPDATE • Expended $82.3 million (incurred $130 million) in Q1 2022 • Mine facili
Slide 11: Côté Gold: Preliminary Risk Analysis on Project Costs & Schedule
JUNE 2022 CORPORATE PRESENTATION Côté Gold: Preliminary Risk Analysis on Project Costs & Schedule PROJECT REVIEW & RISK ANALYSIS “SUPERTREND” • Reasons why: Appointment of new Executive Project Director in December 2021 and identification of certain inflationary and other cost pressures impacting ea
Slide 12: Côté Gold: Supertrend Cost Drivers
JUNE 2022 CORPORATE PRESENTATION Côté Gold: Supertrend Cost Drivers IMPACTS DRIVING UPDATED ESTIMATE1 ESTIMATED COST INCREASE DRIVERS The preliminary estimated updated costs to completion, excluding contingencies, result from additional costs and schedule impacts in the following cost categories and
Slide 13: Côté Gold: Timeline of Activities
JUNE 2022 CORPORATE PRESENTATION Côté Gold: Timeline of Activities 2020 2021 2022 2023 2024 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 PROJECT TIMELINE Construction Approval2 Construction Start3 Major Earthworks Start Main Access Road Complete Process Building Enclosed Start of Pl
Slide 14: Côté Gold: Robust, Tier I, Low-cost and Long-life Asset
JUNE 2022 CORPORATE PRESENTATION Côté Gold: Robust, Tier I, Low-cost and Long-life Asset GOLD PRODUCTION1 (100% basis) OPERATING COSTS2 RESERVES & RESOURCES3 EMERGING GOLD DISTRICT Life of mine Cash costs Proven & Probable >540 km2 exploration 367,000 oz/yr $659/oz 7.2 Moz land package First 5 years
Slide 15: Gosselin 2021 Initial Resource Estimate
JUNE 2022 CORPORATE PRESENTATION Gosselin 2021 Initial Resource Estimate Côté Gold Project – Mineral Reserves & Resources (2021)2,3 • Gosselin zone adjoins the Côté deposit to the northeast with potential to further expand district-scale resources Attributable Tonnes Grade Contained Classification C
Slide 16: Liquidity Outlook
JUNE 2022 CORPORATE PRESENTATION Liquidity Outlook Liquidity • $524 million Total available liquidity1 of $1.0 billion as at March 31, 2022 Cash & equivalents2 • Credit facility: $100 million drawdown in April, while completing certain cash repatriation initiatives • Expectation to draw down all of
Slide 17: Operations
JUNE 2022 CORPORATE PRESENTATION Operations Hybrid Solar/Thermal Plant at Essakane Gold Mine • Commissioned in 2018 • 15 MWp solar plant produces ~27 MWh of carbon-free electricity per year • ~130,000 photovoltaic panels • Supplements an existing 57 MW thermal plant • One of the world’s largest hybr
Slide 18: Essakane Gold Mine, Burkina Faso
JUNE 2022 CORPORATE PRESENTATION Essakane Gold Mine, Burkina Faso 18
Slide 19: Essakane – Overview
JUNE 2022 CORPORATE PRESENTATION Essakane – Overview OWNERSHIP: 90% IAMGOLD; 10% Government of Burkina Faso MINING Mine type Start-up Mine life 70 3.0 Open Pit 2010 ~20271 Essakane NIGER 2021 Performance2 2022 Guidance2,3 2022 Capital costs2,3 M tonnes w:o 35 2.0 MALI 412,000 oz 360,000 – 385,000 oz
Slide 20: Rosebel Gold Mine, Suriname
JUNE 2022 CORPORATE PRESENTATION Rosebel Gold Mine, Suriname 20
Slide 21: Rosebel – Overview
JUNE 2022 CORPORATE PRESENTATION Rosebel – Overview OWNERSHIP: Rosebel Concession (RGM): 95% IAMGOLD, 5% Government of Suriname | Saramacca UJV: 70% RGM, 30% Staatsolie (66.5% IAMGOLD effective1) MINING Mine type Start-up Mine life 70 7.0 Open Pit 2004 (Saramacca 2020) ~20332 6.0 5.0 2021 Performanc
Slide 22: 2022 Rosebel Updated Life-of-Mine Plan
JUNE 2022 CORPORATE PRESENTATION 2022 Rosebel Updated Life-of-Mine Plan (100% basis) KEY PROJECT METRICS1 LOM PLAN (12 YEARS) • Updated Mineral Reserve estimate of 109 Mt at 1.1 g/t for 3.8 million ounces contained gold (100% basis, unless otherwise stated) Rosebel Mining • Updated mine plan incorpo
Slide 23: Westwood Complex, Canada
JUNE 2022 CORPORATE PRESENTATION Westwood Complex, Canada 23
Slide 24: Westwood – Overview
JUNE 2022 CORPORATE PRESENTATION Westwood – Overview OWNERSHIP: 100% IAMGOLD MINING Mine type Start-up Mine life 1,200 Underground | Satellite OP 2014 ~2033+1 800 2021 Performance2 2022 Guidance2,3 2022 Capital costs2,3 M tonnes North America 35,000 oz 55,000 – 75,000 oz $40M sustaining 400 (‘21 gui
Slide 25: Westwood – “Hub-and-Spoke” Model
JUNE 2022 CORPORATE PRESENTATION Westwood – “Hub-and-Spoke” Model ATTRACTIVE DISTRICT EXPLORATION POTENTIAL1 THAT COULD SUPPLEMENT EXCESS MILL CAPACITY FAYOLLE PROPERTY (OP) A B ROUYN GOLD PROJECT (UG) 100% ACQUIRED FROM MONARCH GOLD (2020) A Fayolle OPTION TO ACQUIRE 100% FROM YORBEAU RESOURCES Pro
Slide 26: Development and Exploration Projects
JUNE 2022 CORPORATE PRESENTATION Development and Exploration Projects 26
Slide 27: Advancing Exploration Activities in Key Districts
JUNE 2022 CORPORATE PRESENTATION Advancing Exploration Activities in Key Districts • Robust exploration program focused on unlocking value in key districts 2022 EXPLORATION BUDGET Côté District • Declining industry reserves and resources highlight the challenge to access Other quality exploration pr
Slide 28: Bambouk District: Boto – Karita – Diakha-Siribaya
JUNE 2022 CORPORATE PRESENTATION Bambouk District: Boto – Karita – Diakha-Siribaya Boto Gold (90% ownership) Yatela Deposit Operation 1.6Moz • Along same trend as B2Gold’s Fekola Mine in Mali Sadiola RESERVES1 • Mining permit received in 2019 for a period of 20 years2 2.0Moz • 2019 Optimization Stud
Slide 29: Chibougamau: Emerging Prospective District in Québec, Canada
JUNE 2022 CORPORATE PRESENTATION Chibougamau: Emerging Prospective District in Québec, Canada NELLIGAN (75% JV INTEREST) • Located 60 kilometres southwest of Chibougamau, Québec • Exercised option to increase undivided interest to 75% (from 51%) in December 2019 • Completed initial resource estimate
Slide 30: Appendix
JUNE 2022 CORPORATE PRESENTATION Appendix 30
Slide 31: Hedge Portfolio: Foreign Currency and Oil Derivatives
JUNE 2022 CORPORATE PRESENTATION Hedge Portfolio: Foreign Currency and Oil Derivatives (as at March 31, 2022) 2022 2023 2024 Foreign Currency1 Canadian dollar contracts2 (millions of C$) 459 185 120 Rate range (USDCAD) 1.28 – 1.48 1.30 – 1.46 1.32 Hedge ratio3 52% 29% 14% Commodities4 Brent oil cont
Slide 32: Hedge Portfolio: Gold Bullion Contracts
JUNE 2022 CORPORATE PRESENTATION Hedge Portfolio: Gold Bullion Contracts (as at March 31, 2022) Put Call 2022 2023 2024 $/ounce 000s of ounces Zero cost collars (1) $1,700 $2,366 28 93 – Zero cost collars (2) $1,850 $1,990 – 75 – Subtotal gold bullion contracts 28 168 – 2019 Prepay arrangement $1,30
Slide 33: Gold Prepayment – Illustrative Impact
JUNE 2022 CORPORATE PRESENTATION Gold Prepayment – Illustrative Impact PREPAYMENT ARRANGEMENT STRUCTURE GOLD PREPAY RECOGNITION • Cash proceeds received up front in return for obligation to unit 2019 2022 2024 deliver ounces at a later date Illustrative gold price US$/oz $1,300 $1,800 $1,800 • Settl
Slide 34: Gold Mineral Reserves – Attributable
JUNE 2022 CORPORATE PRESENTATION Gold Mineral Reserves – Attributable As at December 31, 2021 PROVEN PROBABLE TOTAL RESERVES Effective Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEPOSIT Location Ownership (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) Rosebel 1 95
Slide 35: Gold Mineral Resources – Attributable
JUNE 2022 CORPORATE PRESENTATION Gold Mineral Resources1,2 – Attributable (Measured & Indicated Resources are inclusive of Proven & Probable Reserves) As at December 31, 2021 MEASURED INDICATED MEASURED + INDICATED INFERRED Effective Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes
Slide 36: Notes to the Gold Mineral Resources Statement
JUNE 2022 CORPORATE PRESENTATION Notes to the Gold Mineral Resources Statement 1. In mining operations, Measured Mineral Resources and Indicated Mineral Resources that are not Mineral Reserves are considered uneconomic at the price used for Mineral Reserve estimations but are deemed to have a reason
Slide 37: Graeme Jennings, VP, Investor Relations
JUNE 2022 CORPORATE PRESENTATION Graeme Jennings, VP, Investor Relations Philip Rabenok, Manager, Investor Relations 416-388-6883 647-967-9942 TSX: IMG l NYSE: IAG l www.iamgold.com