Iamgold Corporation · TSX:IMG
Iamgold — Shareholder Meeting (May 2010)
51 slides from Iamgold's shareholder meeting presentation, May 19, 2010
Slide 1: Annual General Meeting
Annual General Meeting May 19, 2010 William D. Pugliese Chairman
Slide 2: Chairman’s Table
Chairman’s Table William D. Pugliese Chairman Peter C. Jones Interim President & Chief Executive Officer and Director Jeffery Snow Senior Vice President, General Counsel & Corporate Secretary 2
Slide 3: Board of Directors
Board of Directors William D. Pugliese Derek Bullock John E. Caldwell Donald K. Charter W. Robert Dengler Guy Dufresne Peter C. Jones Mahendra Naik John Shaw 3
Slide 4: Executive Vice Presidents
Executive Vice Presidents P. Gordon Stothart Carol T. Banducci Larry E. Phillips EVP & Chief Operating Officer EVP & Chief Financial Officer EVP, Corporate Affairs 4
Slide 5: Senior Vice Presidents
Senior Vice Presidents Renaud Adams Brian Chandler Michael Donnelly Ross Gallinger SVP, Operations, Americas SVP, African Operations SVP, Exploration SVP, Health, Safety & Sustainability Denis Miville-Deschênes Paul Olmsted Jeffery A. Snow Lisa Zangari SVP, Project Development SVP, Corporate Develop
Slide 6: AGM Video
IAMGOLD CORPORATION AGM Video Member of World Gold Council www.gold.org
Slide 7: Appointment of the Secretary and Scrutineers
Appointment of the Secretary and Scrutineers 7
Slide 8: Constitution of the Meeting
Constitution of the Meeting 8
Slide 9: Financial Statements and Report of the Auditor
Financial Statements and Report of the Auditor 9
Slide 10: Nomination and Election of Directors
Nomination and Election of Directors 10
Slide 11: Nominated Directors
Nominated Directors William D. Pugliese Derek Bullock John E. Caldwell Donald K. Charter W. Robert Dengler Guy Dufresne Peter C. Jones Mahendra Naik John Shaw 11
Slide 12: Auditor’s Appointment and Remuneration
Auditor’s Appointment and Remuneration 12
Slide 13: Approval of Approach to Executive Compensation
Approval of Approach to Executive Compensation 13
Slide 14: Annual General Meeting
8) IAMGOLD CORPORATION Annual General Meeting Member of World Gold Council www.gold.org nA
Slide 15: Chairman’s Report
Chairman’s Report May 19, 2010 William D. Pugliese Chairman 15
Slide 16: Cautionary Statement
Cautionary Statement This presentation contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements rega
Slide 17: A Year of Strong Performance
A Year of Strong Performance ; Robust financial results ; Strong production ; Contained costs ; Advanced project pipeline ; Increased reserves ; Accelerated Essakane 17
Slide 18: Gold and Dividend Policy
Gold and Dividend Policy General policy is not to hedge gold production IAMGOLD holds bullion as an asset Ninth consecutive annual dividend January 2010 – $0.06 per share 18
Slide 19: IAMGOLD Shares – 2009 Highlights
IAMGOLD Shares – 2009 Highlights Added to S&P/TSX 60 Index TSX: IMG NYSE: IAG (at Dec. 31, 2009 in $Cdn) Shares Outstanding 369 million Market Capitalization $6.1 billion IMG 52-week high $21.35 IMG 52-week low $6.52 156% Closing Price (12-31-09) $16.51 Closing Price (5-18-10) $18.68 117% 7% 19
Slide 20: Operations
Operations Longstanding Presence, Long Term Future 20
Slide 21: Zero Harm
Zero Harm Continuing Commitment to Zero Harm 2009 HIGHLIGHTS SAFETY 31% decrease in both days away injury rate and total accident rate ENVIRONMENT Toward Sustainable Mining award for Rosebel Tailings Management COMMUNITY Successful village relocations at Essakane CERTIFICATION Seven Operations plus
Slide 22: The Promise of Essakane
The Promise of Essakane IAMGOLD’S first greenfield operation since Rosebel Senior team that developed Rosebel is building Essakane 22
Slide 23: Benefits to Burkina Faso
Benefits to Burkina Faso Broad range of sustainable projects Essakane will contribute 5% of Burkina Faso’s GDP 23
Slide 24: Exploration & Development
Exploration & Development West Africa Exploration Offices Exploration offices in 3 countries 2010 drilling • Greenfields: 37,500 m • Resource development: 67,500 m 16 professionals South America Exploration offices in 5 countries 2010 drilling • Greenfields: 21,000 m • Resource development: 71,000 m
Slide 25: Good Governance
Good Governance Committed to long-term success All Directors are significant shareholders Supporting management and delivering value to shareholders 25
Slide 26: Talent as a Competitive Advantage
Talent as a Competitive Advantage Mobile, multilingual skilled workforce Robust succession plan and recruitment strategies ensure talent retention 26
Slide 27: 2010 and Beyond
2010 and Beyond Essakane Targeting another year of good performance 2010 is the year of Essakane Rosebel Westwood Niobec Doyon Divison Mupane Sadiola Yatela Tarkwa Damang 27
Slide 28: AGM Presentation
AGM Presentation May 19, 2010 Peter C. Jones Interim President & CEO
Slide 29: Corporate Strategy
Corporate Strategy Sustainable, profitable growth = Value creation Continuing focus on West Africa, Canada and South America 15-20 years in these areas = Strategic advantage 29
Slide 30: Gold Production
Gold Production Continued Growth (000’s ounces) 1,400 1,200 1,000 800 600 400 200 0 2004 2005 2006 2007 2008 2009 2010F 2011F 2012F 2013F 2014F Africa Canada South America *Assumes: • Essakane start-up June 2010 • Sadiola Deeps start-up mid 2012 30 • Quimsacocha start-up early 2013 • Westwood start-
Slide 31: Financial Results
Financial Results $ millions Adjusted net earnings $250 $200 $150 $100 $50 $0 2008 2009 $ millions Operating cash flow $250 $200 $150 $100 $50 $0 $ millions Revenues $750 $500 $250 $0 2008
Slide 32: Q1 2010 Financial Highlights
Q1 2010 Financial Highlights Second Highest Quarterly Net Earnings 63% Adjusted net earnings 26% Operating cash flow 27% Revenues 32
Slide 33: Exceptional Balance Sheet
Exceptional Balance Sheet Net Cash Positive and Positioned for Growth million $ 2010 Planned: As at $381 M Capital expenditures3 March 31, 2010 1 Cash & bullion $281 2 Credit facility available $332 Available funds $613 1 Bullion at market value 2 Available undrawn portion, credit facility expirin
Slide 34: Reserve Growth
Reserve Growth 17% Increase in 2009 Gold Reserves 14.5 M oz Record Gold Reserves 3.1 M oz 2.1 M oz Net Addition Creating value by Addition converting resources 12.4 M oz to reserves Gold reserves up 17% 1.0 M oz Depletion to 14.5M oz Record Niobium Reserves Niobium reserves up 32% to 181.3 mil
Slide 35: Operational Excellence
Operational Excellence 35
Slide 36: Rosebel Record Gold Production
Rosebel Record Gold Production Attributable Production Profile 000 oz Rosebel, Suriname, South America IMG Ownership 95% 2009 P&P Reserves (oz)1 M&I Resources (oz)2 4,840,000 6,870,000 Record gold production of 412,000 oz Inferred Resources (oz) 894,000 Cash cost Ð15% to $396 per ounce due to th
Slide 37: Niobec Long Life High Margin Producer
Niobec Long Life High Margin Producer Niobec, Quebec, Canada IMG Ownership 100% M&I Resources (M kg Nb2O5)1 181.3 Inferred Resources (M kg Nb2O5) 219.1 Production (M kg Nb) Continues to generate approximately 15% to 20% 2010E 4.2-4.4 of Company’s operating cash flow 2009 4.1 2008 4.4 Mill expans
Slide 38: Doyon Division/Mupane
Doyon Division/Mupane Doyon Division, Canada Mupane, Botswana IMG Ownership: 100% IMG Ownership: 100% Reserves & Resources (oz) Updates Reserves & Resources (oz) Updates P&P Reserves1 53,000 Doyon mine extended P&P Reserves1 199,000 ~50,000 oz of gold M&I Resources2 398,000 for 7 months in 2009
Slide 39: Sadiola/Yatela
Sadiola/Yatela Sadiola, Mali Yatela, Mali IMG Ownership: 41% IMG Ownership: 40% Joint Venture Partner: AngloGold Ashanti Joint Venture Partner: AngloGold Ashanti Reserves & Resources Reserves & Resources Updates Updates Attributable(oz) Attributable(oz) P&P Reserves1 1,457,000 Deep sulphide projec
Slide 40: Tarkwa/Damang
Tarkwa/Damang Tarkwa, Ghana Damang, Ghana IMG Ownership: 18.9% IMG Ownership: 18.9% Joint Venture Partner: Gold Fields Ltd. Joint Venture Partner: Gold Fields Ltd. Reserves & Resources Reserves & Resources Updates Updates (Attributable oz) (Attributable oz) P&P Reserves1 2,018,000 Long life open p
Slide 41: Solid Project Pipeline
Solid Project Pipeline Essakane, Burkina Faso COMMENCING PRODUCTION Westwood, Canada CONSTRUCTION Sadiola Deeps, Mali FEASIBILITY Quimsacocha, Ecuador Brownfields EXPLORATION Greenfields 41
Slide 42: Essakane – The Operational Story for 2010
Essakane – The Operational Story for 2010 Higher production planned in early years Ore processing to begin in June Experienced Doyon employees deployed to Essakane Essakane, Burkina Faso, Africa IMG Ownership 90% Probable Reserves1 (oz) 3,871,000 M&I Resources2 (oz) 4,266,000 Inferred Resource
Slide 43: Just the Beginning for Essakane
Just the Beginning for Essakane On budget – $443M Construction is 94% complete Estimated production – 500,000 ounces of gold by year-end 2011 Expected to lower IAMGOLD’s cash cost Significant exploration upside 43
Slide 44: Westwood: A Key to Our Growth Platform
Westwood: A Key to Our Growth Platform 14 kms Planned Exploration shaft Bousquet 2kms 10 m / 11.5 g/t Au 5 m / 23 g/t Au La Ronde Westwood, Quebec, Canada IMG Ownership 100% Using Doyon talent at Westwood M&I Resources (oz)1 98,000 Extended exploration drift > 2,200 m Inferred Resources (oz) 3,4
Slide 45: One Million Ounce Platform
One Million Ounce Platform Positive Impact of Lower Cost Mines WESTWOOD WESTWOOD ~200,000 oz ESSAKANE ESSAKANE ~400,000 oz ROSEBEL ROSEBEL ~400,000 oz *Assumes: • Essakane startup June 2010 45 • Westwood startup early 2013
Slide 46: Committed to Organic Growth
Committed to Organic Growth Exploration Programs 2010 expenditures $35M greenfields $43M brownfields Drilling > 300,000 m in Africa and the Americas 46
Slide 47: Commitment to Zero Harm
Commitment to Zero Harm Focus on leading indicators 47
Slide 48: Environmental Stewardship
Environmental Stewardship Toronto & Essakane – received ISO 14001 certification Rosebel & Mupane – received TSM Awards from Mining Association of Canada Rosebel – TSM Award for tailings management 48
Slide 49: People are Our Greatest Resource
People are Our Greatest Resource 49
Slide 50: President’s Awards
President’s Awards THE WINNER OF THE 2009 PRESIDENT'S AWARD FOR HEALTH & SAFETY: ROSEBEL GOLD MINES N.V. THE WINNER OF THE 2009 PRESIDENT'S AWARD FOR SUSTAINABILITY: ROSEBEL GOLD MINES N.V. 50
Slide 51: Annual General Meeting
Annual General Meeting May 19, 2010 IAMGOLD Corporation 401 Bay Street, Suite 3200 Toronto, ON M5H 2Y4 Canada T: 416 360 4710 E: info@iamgold.com