Iamgold Corporation · TSX:IMG
Iamgold — IAMGOLD Analyst & Investor Conference Call (June 2017)
16 slides from Iamgold's conference presentation, Jun 6, 2017
Slide 1: IAMGOLD Analyst & Investor Conference Call: Côté Gold Project
IAMGOLD Analyst & Investor Conference Call Côté Gold Project June 6, 2017 STEVE LETWIN, PRESIDENT & CEO CAROL BANDUCCI, EVP & CFO GORD STOTHART, EVP & COO JEFF SNOW, GENERAL COUNSEL, SVP BUSINESS DEVELOPMENT Empowering People, Extraordinary Performance l TSX: IMG l NYSE: IAG l
Slide 2: Cautionary Statement
Cautionary Statement All information included in this presentation, including any information as to the Company’s future financial or operating performance, and other statements that express management’s expectations or estimates of future performance, other than statements of historical fact, const
Slide 3: IAMGOLD and Sumitomo Metal & Mining – Strategic Partnership
IAMGOLD and Sumitomo Metal & Mining – Strategic Partnership • Diversifies project risk around Côté Gold Project • Allows for timely construction of Côté project • Creates a partnership with Sumitomo - a well-funded, highly technical mine developer - for future projects and/or acquisitions • Both par
Slide 4: Côté Gold JV Agreement Valuation
Côté Gold JV Agreement Valuation Consensus J.V. Côté Gold Project $141 M1 $650 M2 per diluted share3 $0.31 $1.42 1 Source: Analyst Consensus 2 Based on Sumitomo paying an aggregate $195 million to IAMGOLD for a 30% undivided participating interest in IAMGOLD’s ownership interest in the Côté Gold Pro
Slide 5: Deal Structure
Deal Structure JV Agreement Highlights: • Sumitomo will acquire 30% interest in IAMGOLD’s ownership of the Côté Gold Project for US$195 million • US$100M on closing • US$95M due on the earlier of 18 months after closing or completion of the Feasibility Study • Each party will be responsible for fund
Slide 6: Deal Summary
Deal Summary About Sumitomo Metal Mining Co., Ltd., • Sumitomo Metal Mining Co., Ltd., is a Tokyo, Japan-based mining with $7.3 billion in annual revenues1 and market capitalization of approximately $7.0 billion dollars 2 • A global leader in the development and mining of non-ferrous metals • Engage
Slide 7: Financial Highlights
Financial Highlights
Slide 8: Financial Highlights
Financial Highlights • The gross sale price to Sumitomo for 30% of Côté Gold is $195M reflecting a total market value of $650M ($195M pro-rated to 100%) • In 2012, IMG acquired Trelawney mining which owns a 92.5% interest in the Côté Gold Project, for a total acquisition cost of $542.6M • Current ca
Slide 9: Preliminary Calculation of Gain on Sale Before Transaction Costs
Preliminary Calculation of Gain on Sale Before Transaction Costs $Millions Proceeds from sale of 30% interest to SMM 1 $195 Less: Carrying value of 30% Côté net assets 2 (168) Gain on sale before transaction costs 3 $27 1 $100M cash to be received on closing date of the transaction and the remaining
Slide 10: Liquidity
Liquidity $ Millions Cash, cash equivalents and restricted cash 1 $660 Gross proceeds from sale of 30% Cote net assets 2 195 Available senior credit facility as at March 31, 2017 247 Total Liquidity $1,102 1 Balance as at March 31, 2017. Calculated as follows: - $1,073M - cash and cash equivalents;
Slide 11: Project Highlights
Project Highlights
Slide 12: Côté Gold Project Highlights
Côté Gold Project Highlights • One of Canada’s largest undeveloped gold deposits • Located in a prolific mining region six hours north of Toronto • Strong partnerships with northern municipalities, local communities and indigenous community partners • Positive PFS indicates potential for low-cost mi
Slide 13: Strong Project Economics at Côté Gold
Strong Project Economics at Côté Gold PFS PEA Gold Price Assumption for Economic Analysis $1,250/oz $1,200/oz CDN/US exchange Assumption 1.3 1.35 Nominal Mill Capacity 32,000 tpd 29,000 tpd LOM Average Au Recovery 91.8% 91.9% LOM Average Annual Au Production 320,000 ozs 302,000 ozs Mine Life 17 year
Slide 14: Capital Costs - Côté Gold
Capital Costs - Côté Gold Capital Cost Estimate Summary Initial Capital $M Mine Site Prep and Infrastructure 29 Mine Equipment 59 Electrical & Communications 31 Infrastructure 104 Process Plant 252 Tailings Management Facility Equipment 24 Tailings & Water Management 47 Offsite Facilities 25 Owner’s
Slide 15: IAMGOLD Reserve & Resource Statement Revised
IAMGOLD Reserve & Resource Statement Revised Côté Gold Only IAMGOLD Consolidated 2017 Difference 2016 2017 Difference 2016 Year Revised koz % End Revised koz % Year End Contained Gold (Attributable Basis - 000s oz) 12 Total proven and probable mineral reserves 1, 3, 4, 5, 6, 7 3,837 3,837 n/a 0 11,6
Slide 16: Investor Relations Contacts
Ken Chernin Laura Young Shae Frosst VP, Investor Relations Director, Investor Relations Associate, Investor Relations T: 416-360-4743 T: 416-933-4952 T: 416-933-4738 Empowering People, Extraordinary Performance l TSX: IMG l NYSE: IAG l
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