Slide 1: 2014 First Quarter Results
2014 First Quarter Results May 7, 2014 TSX: IMG NYSE: IAG
Slide 2: Management Participants
Management Participants STEVE LETWIN President & CEO GORD STOTHART EVP & Chief Operating Officer CAROL BANDUCCI EVP & Chief Financial Officer CRAIG MACDOUGALL SVP, Exploration JEFFERY SNOW SVP, General Counsel BOB TAIT VP, Investor Relations 2
Slide 3: Cautionary Statement on Forward-Looking Information
Cautionary Statement on 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 expectations or estimates of future performance, other than state
Slide 4: Q1 Highlights
Q1 Highlights Highest score ever recorded for leading safety measure1 - 46% improvement All-in sustaining costs2,3 $1,198/oz. - $92 lower than Q1’13 Adjusted net earnings attributable to equity holders 2 of $12.2M or $0.03/share Attributable gold production of 172,000 oz. Ore mined at West
Slide 5: Reinventing Rosebel
Reinventing Rosebel Improving Grades Working with external consultant Grades increased 14% in Q1’14 from Q4’13, driving production up 14% Joint Venture – targeting higher- grade, softer rock 5-year option agreement with 5 Sarafina; drilling underway 11¢/kWh power on JV ore Advancing discussions on o
Slide 6: Focused on Mine Optimization at Essakane
Focused on Mine Optimization at Essakane Production Ramping Up Commissioned new hard rock processing line Processed 144% more hard rock than Q4’13; production up 15% Production expected to increase 25% year-over-year Focused on Reducing Power Costs Feasibility studies underway 225 kV transmission li
Slide 7: Q1 Marks Start of Production Ramp-Up
Q1 Marks Start of Production Ramp-Up Ramping up production at Essakane following commissioning of new processing line Rosebel production trending positively – up 14% from Q4’13 Ore stockpiled at Mouska and Westwood (est. 20k contained oz.) to be processed beginning Q2’14 Westwood on track fo
Slide 8: Financial Review
Financial Review CORPORATION
Slide 9: Revenues
Revenues 305.3 279.3 Revenue Q1 2013 Change Q1 2014 Impact Gold Price1 1,631 (21%) 1,286 ($55.7M) ($/oz.) $millions Gold Sales2 171 3% 176 $17.4M 305.3 (000s oz.) 279.3 Niobium 1.2 25% 1.5 $12.3M Sales Q1 2013 Q1 2014 1 Average realized gold price per ounce sold. This is a non-GAAP measure. Refer to
Slide 10: Adjusted Net Earnings
Adjusted Net Earnings1 (In $ millions, except for per share amounts) Q1'13 Q1'14 Net earnings attributable to equity holders 10.9 3.7 Changes in estimates of asset retirement obligations at closed sites (2.3) 4.2 Unrealized derivative losses 12.0 2.1 57.7 Write-down of assets - 1.9 Restructuring and
Slide 11: Operating Cash Flow before Changes in Working Capital
Operating Cash Flow before Changes in Working Capital1 (In $ millions, except for per share amounts) Q1’13 Q1’14 Net cash from operating activities per consolidated interim financial 99.5 28.1 $0.31 statements per share Adjusting items from non-cash working capital items and non-current ore stockpil
Slide 12: Attributable Gold Production
Attributable Gold Production Due to 188 172 Rosebel lower grades -9,000 oz. Mouska ore stockpiled -5,000 oz. Yatela suspension of mining activities -6,000 oz. Partially offset by Higher production at Essakane +3,000 oz. 000s oz. Pre-commercial production at Westwood +1,000 oz. Ore mined at Westwood
Slide 13: All-In Sustaining Costs Improving
All-In Sustaining Costs1 Improving 1,800 1,631 All figures in $/oz. 1,600 1,373 1,334 1,400 1,273 1,286 1,200 1,290 1,242 1,196 1,216 1,198 1,000 800 600 400 200 0 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014 1,2 ` 1 Total Cash Costs Sustaining Capital Avg Realized Gold Price 1 This is a non-GAAP measure
Slide 14: Niobec
Niobec • 25% increase in operating margin • Recoveries benefit from mill optimization efforts Q1 2013 Q1 2014 • Cost efficiencies 22% Niobium production 1.2 1.3 (Mkg Nb) $millions Niobium 62.0 sales 1.2 1.5 49.7 (Mkg Nb) Operating margin 16 20 ($/kg) Q1 2013 Q1 2014 Revenue 14
Slide 15: Liquidity
Liquidity $1,064 $millions 250 500 174 140 As at end of Q1 2014 Cash & cash equivalents Gold bullion at market Unused credit facility Unused Niobec credit facility The Company has $650 million of senior unsecured notes due October 2020. 15
Slide 16: Operations Review
Operations Review £IAMGOLD
Slide 17: Rosebel - Suriname
Rosebel - Suriname Attributable Gold Production (95%) Q1 2014 Performance (000s oz.) › Lower production in Q1’14 due to grades 89 82 95 80 › Hard rock increased from 19% in Q1’13 to 27% 70 › Productivity improvements drive material mined Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 up 25% and throughput up 9% › Me
Slide 18: Essakane – Burkina Faso
Essakane – Burkina Faso Attributable Gold Production (90%) Q1 2014 Performance › Commissioned new grinding line (000s oz.) › Hard rock increased from 8% in Q1’13 to 25%; 65 62 64 59 68 production up 5% › Hard rock processing increased 144% from Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q4’13; production up 15%
Slide 19: Doyon Division – Canada
Doyon Division – Canada Westwood / Mouska Q1 2014 Performance › Ore mined from Westwood and Mouska stockpiled for processing beginning Q2 (estimated 20,000 contained oz.) › Mouska completed mining in April 2014, closure activities will continue for remainder of the year Outlook › H1’14 focus will co
Slide 20: Sadiola – Mali
Sadiola – Mali Attributable Gold Production (41%) (000s oz.) Q1 2014 Performance 19 24 19 24 19 › Gold production consistent with same prior year period Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Outlook › Continuing to work with AngloGold Ashanti to Total Cash Costs1 finalize an expansion strategy, focusing on
Slide 21: Niobec – Canada
Niobec – Canada Niobium Production Q1 2014 Performance (Mkg Nb) › Production up 8% compared to Q1’13 1.6 › Improved recoveries as a result of mill 1.2 1.2 1.3 1.3 performance optimization › Margins increased 25% due to sustainable cost savings embedded into 2014 Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 operati
Slide 22: Exploration Review
Exploration Review IAMGOLD
Slide 23: Resource Development and Brownfield Exploration
Resource Development and Brownfield Exploration ROSEBEL ESSAKANE Focused on identifying higher- Continuing to target inferred grade and softer rock resource areas around current resources pit design 5-year option agreement with Follow-up drilling campaigns on Sarafina – 10,000 hectares the Tassi
Slide 24: Greenfield: Boto Gold Project, Senegal
Greenfield: Boto Gold Project, Senegal July 2013 – declared initial indicated resource estimate of 1.1 Moz at 1.62 g/t Au Based on 423 drill holes, totalling 56,832 metres April 2014 – ongoing drilling confirms continuity of resource and extends mineralization associated with largest deposit
Slide 25: Greenfield: Pitangui Project, Brazil
Greenfield: Pitangui Project, Brazil Sâo Sebastiâo gold deposit located in the prolific Iron Quadrangle April 2014 – declared maiden inferred resource of 0.64 Moz at 4.88 g/t Au Based on 57 holes, totaling 19,600 metres 24,000 metres of planned drilling for 2014 focused on infill and expansi
Slide 26: Catalyst Strategies
Catalyst Strategies Continue reducing all-in sustaining costs Reinvent Rosebel through softer rock Optimize Essakane as it ramps up production Ramp up Westwood to commercial production Revitalize Sadiola Continue to review strategic options for Niobec Advance promising exploration projects 26
Slide 27: 2014 First Quarter Results
2014 First Quarter Results May 7, 2014 Investor Relations info@iamgold.com Bob Tait Laura Young Penelope Talbot-Kelly VP, Investor Relations Director, Investor Relations Analyst, Investor Relations T: 416-360-4743 T: 416-933-4952 T: 416-933-4738 TSX: IMG NYSE: IAG