Iamgold Corporation · TSX:IMG
Iamgold — Investor Presentation (January 2024)
44 slides from Iamgold's investor presentation, January 2024
Slide 1: Corporate Presentation January 2024
JANUARY 2024 CORPORATE PRESENTATION CORPORATE PRESENTATION January 2024 TSX: IMG l NYSE: IAG www.iamgold.com TSX: IMG l NYSE: IAG l www.iamgold.com
Slide 2: Cautionary Statement
JANUARY 2024 CORPORATE PRESENTATION Cautionary Statement CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION 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 ex
Slide 3: Technical Information and Qualified Persons
JANUARY 2024 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
Slide 4: IAMGOLD – Building a Leading High-Margin Gold Producer
JANUARY 2024 CORPORATE PRESENTATION IAMGOLD – Building a Leading High-Margin Gold Producer ESTABLISHING A STRONG FOUNDATION COMMITMENT TO ESG • Côté Gold: One of the largest gold mines in Canada with • Industry leader with its Zero Harm® commitment and focus production expected in early 2024 on safe
Slide 5: Operations Overview
JANUARY 2024 CORPORATE PRESENTATION Operations Overview CONSTRUCTION PRODUCTION CÔTÉ GOLD ESSAKANE WESTWOOD Ontario, Canada Burkina Faso, West Africa Quebec, Canada (60% IMG | 40% SMM1) (90%) (100%) Start-up Early 2024 Start-up 2010 2014 Mine type Open pit Mine type Open pit Underground / Satellite
Slide 6: Responsibility & Accountability
JANUARY 2024 CORPORATE PRESENTATION Responsibility & Accountability ENVIRONMENTAL HEALTH & SAFETY • Preparing inaugural TCFD report in 2023 outlining roadmap and GHG emission reduction targets Days Away, Restricted or Transferred Duty (DART)1 • Targeting net positive biodiversity at all operations •
Slide 7: 2023 Highlights
JANUARY 2024 CORPORATE PRESENTATION 2023 Highlights OPERATING RESULTS (continuing ops) PRODUCTION Q4 2023 Q3 2023 2023 2022 Gold production (attr., cont. ops.) of 136,000 ounces in Q4 | 465,000 ounces in 2023 Essakane (90%) koz 108 84 372 432 Essakane reported a strong Q4 of 108,000 ounces on strong
Slide 8: Financial Results
JANUARY 2024 CORPORATE PRESENTATION FINANCIAL HIGHLIGHTS – continuing operations Financial Results (In $ millions, unless otherwise stated) Q3 2023 Q3 2022 LIQUIDITY (as at September 30, 2023) Revenues 224.5 254.5 Cash and equivalents of $548.9 million + total liquidity1 of $1.0 billion Gross profit
Slide 9: Côté Gold
JANUARY 2024 CORPORATE PRESENTATION Côté Gold Côté Gold Project aerial view – October 2023 TMF Phase II construction – October 2023 Testing of AHS dumping into crusher – January 2024 Crushing and conveyors – October 2023 Ball mill – October 2023 Tailing thickener and leach tanks – October 2023 9
Slide 10: Côté Gold: Mine Plan Highlights
JANUARY 2024 CORPORATE PRESENTATION Côté Gold: Mine Plan Highlights Côté Gold3,4 @ 100% PRODUCTION & COST PROFILE Operations 600 $1,400 Mine Life years 18 $1,200 Total Ore Tonnes Mined kt 236,000 500 Total Waste Tonnes Mined kt 568,000 $1,000 400 Ounces (000 oz) Strip ratio w:o 2.4 $800 $/oz Total O
Slide 11: Côté Gold: Progress
JANUARY 2024 CORPORATE PRESENTATION Côté Gold: Progress PROJECT CONSTRUCTION PROGRESS PROJECT COMPLETION: 90.6% | CONSTRUCTION COMPLETION: 92.0% (@ Sept. 30, 2023) 5% 100% • Health and safety: Total project hours of 13.2 million hours with a project TRIFR of 0.68. 4% 80% • Labour and workforce: 1,80
Slide 12: Côté Gold: Moving into Commissioning
JANUARY 2024 CORPORATE PRESENTATION Côté Gold: Moving into Commissioning 2022 2023 2024 2025 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 TMF Phase I Q2/23 ✓ Earthworks TMF Phase II ✓ Q4/23 Overburden Removal ✓ Q3/23 Pre-Commissioning & Commissioning AHS Control Room ✓Q4/22 Mining IAG Fleet to Support Ear
Slide 13: Côté Gold: Gosselin
JANUARY 2024 CORPORATE PRESENTATION CÔTÉ GOLD PROJECT – MINERAL RESERVES & RESOURCES (2022)2,3,4 Côté Gold: Gosselin Tonnes Grade Contained Attributable Contained Classification (millions) (g/t Au) (Moz Au) (Moz Au) 16,495 m drilling campaign in 2023 to expand Gosselin mineralization Côté Gold Depos
Slide 14: Essakane Gold Mine, Burkina Faso
JANUARY 2024 CORPORATE PRESENTATION Essakane Gold Mine, Burkina Faso 1 2 14
Slide 15: Essakane
JANUARY 2024 CORPORATE PRESENTATION Essakane (100% basis, unless otherwise stated) Ore mined kt Q4 2023 3,217 Q3 2023 2,015 2023 9,586 2022 12,585 Material mined – total kt 12,910 10,639 43,348 49,685 2023 OPERATIONAL REVIEW Strip ratio w:o 3.0 4.3 4.5 2.9 Attributable production of 108,000 ounces i
Slide 16: Updated Mine Plan
JANUARY 2024 CORPORATE PRESENTATION UPDATED MINE PLAN Essakane MINING & STRIP RATIO CAPITAL EXPENDITURES 50 4.0 200 UPDATED MINE PLAN1 3.0 150 Strip ratio Mine life extension to 2028 $ million M tonnes 25 2.0 100 • Mining will occur from three remaining pit phases in the Essakane Main Zone 1.0 50 ("
Slide 17: Westwood Complex, Canada
JANUARY 2024 CORPORATE PRESENTATION Westwood Complex, Canada 17
Slide 18: Westwood Complex
JANUARY 2024 CORPORATE PRESENTATION Westwood Complex (100% basis, unless otherwise stated) Ore mined – underground kt Q4 2023 76 Q3 2023 79 2023 280 2022 241 Ore mined – other sources kt 162 231 742 836 OPERATIONAL REVIEW Ore milled kt 245 283 1,034 1,118 Gold production of 28,000 ounces in Q4 | 93,
Slide 19: Westwood Complex
JANUARY 2024 CORPORATE PRESENTATION Westwood Complex +4800 HISTORY WEST CENTRAL EAST Westwood began production in 2013 CORRIDOR CORRIDOR CORRIDOR • Highest production years to date in 2017 and 2018 with production of 125,000 oz +4600 and 129,000 oz, respectively • In 2020, underground was put on car
Slide 20: Exploration Projects
JANUARY 2024 CORPORATE PRESENTATION Exploration Projects 20
Slide 21: Chibougamau: Emerging District
JANUARY 2024 CORPORATE PRESENTATION Chibougamau: Emerging District NELLIGAN (100%1 JV INTEREST) Nelligan 2022 Resource Pit Shell • Located 60 kilometres southwest of Chibougamau, Québec • Exercised option to increase undivided interest to 75% (from 51%) in December 2019 • Updated resource estimate2(
Slide 22: JANUARY 2024 CORPORATE PRESENTATION
JANUARY 2024 CORPORATE PRESENTATION 22
Slide 23: Appendix
JANUARY 2024 CORPORATE PRESENTATION Appendix 23
Slide 24: 2023 Guidance Revisions
JANUARY 2024 CORPORATE PRESENTATION 2023 Guidance Revisions SUSTAINING EXPANSION GOLD PRODUCTION1,2 (attributable ounces) CAPEX3,4 CAPEX3,4 ($M, incl. capitalized stripping) ($M) REAFFIRMED PRIOR UPDATED UPDATED ACTUAL YTD ACTUAL PRIOR ACTUAL PRIOR GUIDANCE GUIDANCE GUIDANCE GUIDANCE Essakane 264,00
Slide 25: Côté Gold: Expenditures & Cost to Complete
JANUARY 2024 CORPORATE PRESENTATION Côté Gold: Expenditures & Cost to Complete Q3 PROJECT EXPENDITURES Incurred project expenditures of $317.3 million (@100%) | $222.0 million (@70%) in Q3 at average USDCAD exchange rate of 1.33 Since commencement of construction, $2.54 billion ($1.78 billion at 70%
Slide 26: Sumitomo Agreement: Funding with an Option to Repurchase
JANUARY 2024 CORPORATE PRESENTATION Sumitomo Agreement: Funding with an Option to Repurchase The financing provided by SMM demonstrates strong validation of Côté from our partner INITIAL ADVANCES INCREMENTAL CONTRIBUTIONS REPURCHASE FEE REPURCHASE OPTION • Commencing in January 2023, • After the $25
Slide 27: Côté Gold: Large-Scale and Long-Life Mine
JANUARY 2024 CORPORATE PRESENTATION Côté Gold: Large-Scale and Long-Life Mine Top 10 Gold Mines in Canada by Production1 (koz) 20 20 18 5 10 22 7 10 6 10 9 690 Remaining life of mine (years)2 585 Mines acquired in last 10 years 4953 420 365 339 300 286 280 272 240 Detour Lake Malartic Côté Gold Mead
Slide 28: Côté Gold: Review of 43-101 Costs
JANUARY 2024 CORPORATE PRESENTATION Côté Gold: Review of 43-101 Costs 2024 unit costs expected to be elevated above average 43-101 cost estimate PROCESSING MINING COSTS COSTS • due to inflation experienced in the industry and fixed costs being absorbed by fewer Other Other tonnes and ounces during c
Slide 29: Longitudinal Section
JANUARY 2024 CORPORATE PRESENTATION Longitudinal Section Gosselin Zone Côté Resource Gosselin Pit Resource Pit Hydrothermal Breccia Priority Exploration (HdBx) Target for Hydrothermal Breccia GOS23-136 240.0 m grading 1.53 g/t Au GOS23-139 Incl. 120.0 m grading 2.26 g/t Au Côté 406.0 m grading 0.72
Slide 30: Côté + Gosselin Deposits – Geological Settings
JANUARY 2024 CORPORATE PRESENTATION Côté + Gosselin Deposits – Geological Settings Abitibi Belt: > 260 M Oz & Growing South Swayze Belt • 19+ Moz (& growing) • Historical - Numerous high-grade vein and shear zone hosted deposits Gold production within 175 km radius: • Timmins + KL + Matachewan 897,0
Slide 31: Exploration Potential Objectives
JANUARY 2024 CORPORATE PRESENTATION ExplorationPotential Objectives for Côté type (intrusion related, breccia) disseminated mineralization and H-G Shear veins Extensive Property package of 596 km² JEROME MINE COTE DEPOSIT Jack Rabbit GOSSELIN DEPOSIT Clam Lake 31 31
Slide 32: 2023 – New Structural Corridor Theory
JANUARY 2024 CORPORATE PRESENTATION 2023 – New Structural Corridor Theory New Jack Rabbit / Theory Gomak Gosselin • Possibility that the main NE Côté trending structure through the Chester intrusive complex is the main mineralization trend. Straighter than originally Old thought. • E-W trending stru
Slide 33: Essakane Gold Mine, Burkina Faso
JANUARY 2024 CORPORATE PRESENTATION Essakane Gold Mine, Burkina Faso 33
Slide 34: Essakane – Overview
JANUARY 2024 CORPORATE PRESENTATION Essakane – Overview OWNERSHIP: 90% IAMGOLD; 10% Government of Burkina Faso MINING Mine type Start-up Mine life 70 4.0 Open Pit 2010 ~20281 Essakane 3.0 Strip ratio NIGER 2022 Performance2 2023 Guidance2,3 2022 Capital costs2,3 M tonnes 35 MALI 432,000 oz 340,000 –
Slide 35: Westwood Complex, Canada
JANUARY 2024 CORPORATE PRESENTATION Westwood Complex, Canada 35
Slide 36: Westwood – Overview
JANUARY 2024 CORPORATE PRESENTATION Westwood – Overview OWNERSHIP: 100% IAMGOLD MINING Mine type Start-up Mine life 1200 Underground | Satellite OP 2014 ~2033+1 800 M tonnes 2022 Performance2 2023 Guidance2,3 2022 Capital costs2,3 North America 67,000 oz 70,000 – 90,000 oz $45M sustaining 400 (‘22 g
Slide 37: Westwood – “Hub-and-Spoke” Potential
JANUARY 2024 CORPORATE PRESENTATION Westwood – “Hub-and-Spoke” Potential FAYOLLE PROPERTY (OP) 100% ACQUIRED FROM MONARCH GOLD (2020) • ~35 km northeast of Rouyn-Noranda and ~29 10 km km northwest from Westwood Fayolle Property • 39 mineral claims covering an area of 1,373 hectares (14 km2) • Resour
Slide 38: Bambouk District: Boto – Karita – Diakha-Siribaya
JANUARY 2024 CORPORATE PRESENTATION Bambouk District: Boto – Karita – Diakha-Siribaya STRATEGIC REVIEW • On December 20, 2022, IAMGOLD announced agreement to sell Bambouk assets to Managem (CAS:MNG) for Yatela Deposit aggregate consideration of approximately $282 million6 with close expected by Q2/Q
Slide 39: Hedge Portfolio: Foreign Currency and Oil Derivatives
JANUARY 2024 CORPORATE PRESENTATION Hedge Portfolio: Foreign Currency and Oil Derivatives (as at June 30, 2023) 2023 2024 Foreign Currency1 Canadian dollar contracts2 (millions of C$) 190 240 Rate range (USDCAD) 1.30 – 1.40 1.30 – 1.32 Hedge ratio3 51% 31% Commodities4 Brent oil contracts (barrels,
Slide 40: Gold Mineral Reserves – 100% Basis
JANUARY 2024 CORPORATE PRESENTATION Gold Mineral Reserves – 100% Basis PROVEN PROBABLE TOTAL RESERVES Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEPOSIT Type* Location (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) Burkina Essakane 1,2 OP Faso 20,089 0.6 413 45,44
Slide 41: Gold Mineral Resources – 100% Basis
JANUARY 2024 CORPORATE PRESENTATION Gold Mineral Resources1,2 – 100% Basis (Measured & Indicated Resources are inclusive of Proven & Probable Reserves) As of December 31, 2022, except Essakane as of September 30, 2023 MEASURED INDICATED MEASURED + INDICATED INFERRED Tonnes Grade Ounces Tonnes Grade
Slide 42: Notes to the Gold Mineral Resources Statement
JANUARY 2024 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 reas
Slide 43: Notes
JANUARY 2024 CORPORATE PRESENTATION Notes 43
Slide 44: Graeme Jennings, VP, Investor Relations
JANUARY 2024 CORPORATE PRESENTATION Graeme Jennings, VP, Investor Relations 416-388-6883 TSX: IMG l NYSE: IAG l www.iamgold.com