Iamgold Corporation · TSX:IMG
Iamgold — Investor Presentation (June 2024)
40 slides from Iamgold's investor presentation, June 2024
Slide 1: Corporate Presentation
JUNE 2024 CORPORATE PRESENTATION CORPORATE PRESENTATION TSX: IMG l NYSE: IAG June 2024 www.iamgold.com TSX: IMG l NYSE: IAG l www.iamgold.com
Slide 2: Cautionary Statement
JUNE 2024 CORPORATE PRESENTATION Cautionary Statement CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION All information included or incorporated by reference in this presentation, including any information as to the Company’s future financial or operating performance and other statements th
Slide 3: Technical Information and Qualified Persons
JUNE 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 news release have been prepared in accordance with NI 43-
Slide 4: Overview
JUNE 2024 CORPORATE PRESENTATION Overview BUILDING A LEADING, MODERN CANADIAN-FOCUSED MULTI-ASSET PRODUCER • Côté Gold: Canada’s next large-scale mine poured first gold in March 2024, will be a model for modern mining in Canada • Essakane: 6th largest gold mine in West Africa, leader in the communit
Slide 5: Operations Overview
JUNE 2024 CORPORATE PRESENTATION Operations Overview START-UP PRODUCTION CÔTÉ GOLD ESSAKANE WESTWOOD Ontario, Canada Burkina Faso, West Africa Quebec, Canada (60% IMG | 40% SMM1) (90%) (100%) Start-up 2024 Start-up 2010 2014 Mine type Open pit Mine type Open pit Underground / Satellite OP Estimated
Slide 6: Responsibility & Accountability
JUNE 2024 CORPORATE PRESENTATION Responsibility & Accountability ENVIRONMENTAL Since 2007 • Released inaugural TCFD report in 2023 outlining roadmap and GHG emission reduction targets • Targeting net positive biodiversity at all operations • Adherence and reporting to the TSM Water Stewardship Proto
Slide 7: Q1 2024 Highlights
JUNE 2024 CORPORATE PRESENTATION Q1 2024 Highlights OPERATING RESULTS (continuing ops) 2024 Q1 2024 Q1 2023 GUIDANCE CÔTÉ GOLD Essakane (90%) koz 118 92 330 – 370 First gold achieved on March 31, 2024 Westwood (100%) koz 32 21 100 – 120 • On track for goal of achieving commercial production in Q3 20
Slide 8: Financial Results: Liquidity
JUNE 2024 CORPORATE PRESENTATION Financial Results Cash: $2 LIQUIDITY (as at March 31, 2024) 91 .2 Cash and equivalents of $291.2 million and total liquidity1 of $693.8 million M • $76.4 million of cash and equivalents held by Côté Gold70%, $99.7 million held by Essakane • Remaining Bambouk transact
Slide 9: Financial Results
JUNE 2024 CORPORATE PRESENTATION Financial Results FINANCIAL HIGHLIGHTS – continuing operations (In $ millions, unless otherwise stated) Q1 2024 Q1 2023 Q1 FINANCIAL REVIEW Revenues $338.9 $226.2 Gold revenues of $338.9 million from sales of 163,000 ounces (150,000 ounces attributable) at Gross prof
Slide 10: Côté Gold
JUNE 2024 CORPORATE PRESENTATION Côté Gold 10
Slide 11: Côté Gold
JUNE 2024 CORPORATE PRESENTATION Côté Gold (100% basis, unless otherwise stated) Ore mined kt Q1 2024 1,944 Grade mined g/t 0.72 OPERATIONS Material mined – total kt 7,597 Côté Gold achieved first gold on March 31, 2024 Strip ratio w:o 2.9 Total tonnes mined of 7.6M tonnes in Q1 Ore milled kt 48 • A
Slide 12: Côté Gold: 2024 Outlook
JUNE 2024 CORPORATE PRESENTATION Côté Gold: 2024 Outlook RAMP UP TO COMMERCIAL PRODUCTION Commercial production on track for Q3 2024 with the goal to achieve 90% throughput rate exiting 2024 CASH COSTS1 @ YEAR END 2024 PRODUCTION (100%) 220,000 – 290,000 oz $700 – $800/oz AISC1 @ YEAR END $1,100 – $
Slide 13: Côté & Gosselin
JUNE 2024 CORPORATE PRESENTATION CÔTÉ GOLD PROJECT – MINERAL RESERVES & RESOURCES (2023)1,3 Côté & Gosselin Tonnes Grade Contained (100%) Attributable Contained Classification (millions) (g/t Au) (Moz Au) (Moz Au) Current diamond drill program of 35,000 m targeting potential connecting extensions of
Slide 14: Côté Gold: Large-Scale and Long-Life Mine
JUNE 2024 CORPORATE PRESENTATION Côté Gold: Large-Scale and Long-Life Mine Top 12 Gold Mines in Canada by Production1 (koz) 28 20 18 17 5 14 10 7 10 6 10 9 690 38 Remaining life of mine (years)2 585 Mines acquired in last 10 years 3 495 5 M&I Mineral Resources 2 (inclusive of reserves) 438 420 6 400
Slide 15: Essakane Gold Mine, Burkina Faso
JUNE 2024 CORPORATE PRESENTATION Essakane Gold Mine, Burkina Faso 15
Slide 16: Essakane
JUNE 2024 CORPORATE PRESENTATION Essakane (100% basis, unless otherwise stated) Ore mined kt Q1 2024 3,458 Q1 2023 1,657 Material mined – total kt 11,340 6,285 Q1 2024 OPERATIONAL REVIEW Strip ratio w:o 2.3 2.8 Attributable production of 118,000 ounces in Q1 is a new quarterly record Ore milled kt 3
Slide 17: Essakane: Updated Mine Plan
JUNE 2024 CORPORATE PRESENTATION UPDATED MINE PLAN1 Essakane MINING & STRIP RATIO CAPITAL EXPENDITURES 50 4.0 200 CURRENT 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 ("EM
Slide 18: Westwood Complex, Canada
JUNE 2024 CORPORATE PRESENTATION Westwood Complex, Canada 18
Slide 19: Westwood Complex
JUNE 2024 CORPORATE PRESENTATION Westwood Complex (100% basis, unless otherwise stated) Underground lateral development metres Q1 2024 1,307 Q1 2023 1,494 Ore mined – underground kt 83 68 Q1 2024 OPERATIONAL REVIEW Ore mined – other sources kt 120 193 Gold production of 32,000 ounces on higher grade
Slide 20: Westwood Complex
JUNE 2024 CORPORATE PRESENTATION Westwood Complex +4800 UNDERGROUND DEVELOPMENT & REHABILITATION WEST CENTRAL EAST Underground lateral development of 1,307 m in Q1 2024 and 5,271 m in 2023 CORRIDOR CORRIDOR CORRIDOR • Securing safe access to multiple ore faces at different levels in the mine, +4600
Slide 21: Exploration Projects
JUNE 2024 CORPORATE PRESENTATION Exploration Projects 21
Slide 22: Chibougamau: Emerging District
JUNE 2024 CORPORATE PRESENTATION Chibougamau: Emerging District NELLIGAN (100%1 JV INTEREST) Nelligan 2022 Resource Pit Shell • Located 60 kilometres southwest of Chibougamau, Québec • Updated resource estimate2(on 100% basis): Cut-off Category Grade Tonnage Grade Contained Au (g/t Au) (Mt) (g/t Au)
Slide 23: JUNE 2024 CORPORATE PRESENTATION
JUNE 2024 CORPORATE PRESENTATION 23
Slide 24: Appendix
JUNE 2024 CORPORATE PRESENTATION Appendix 24
Slide 25: Sumitomo Agreement: Funding with an Option to Repurchase
JUNE 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 $250m
Slide 26: Côté Gold: 43-101 Mine Plan Overview
JUNE 2024 CORPORATE PRESENTATION Côté Gold: 43-101 Mine Plan Overview 80 MATERIAL MOVEMENT Operations @ 100%1 60 Mine Life years 18 Tonnes (Mt) 40 Total Ore Tonnes Mined kt 236,000 Strip ratio w:o 2.4 20 Total Ore Processed kt 233,000 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Processing throu
Slide 27: Côté Gold: Review of 43-101 Costs
JUNE 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 comm
Slide 28: Longitudinal Section
JUNE 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 g/t
Slide 29: Côté + Gosselin Deposits – Geological Settings
JUNE 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 897,000
Slide 30: Exploration Potential Objectives
JUNE 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 30 30
Slide 31: 2023 – New Structural Corridor Theory
JUNE 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 structu
Slide 32: Essakane Gold Mine, Burkina Faso
JUNE 2024 CORPORATE PRESENTATION Essakane Gold Mine, Burkina Faso 32
Slide 33: Essakane – Overview
JUNE 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 Strip ratio NIGER 2023 Performance2 2024 Guidance2,3 2024 Capital costs2,3 M tonnes 35 2.0 MALI 372,000 oz 330,000 – 37
Slide 34: Westwood Complex, Canada
JUNE 2024 CORPORATE PRESENTATION Westwood Complex, Canada 34
Slide 35: Westwood – Overview
JUNE 2024 CORPORATE PRESENTATION Westwood – Overview OWNERSHIP: 100% IAMGOLD 1200 MINING Mine type Start-up Mine life Underground | Satellite OP 2014 ~2033+1 800 M tonnes 2023 Performance2 2024 Guidance2,3 2024 Capital costs2,3 North 400 America 93,000 oz 100,000 – 120,000 oz $65M sustaining (‘23 gu
Slide 36: Westwood – “Hub-and-Spoke” Potential
JUNE 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) • Resource
Slide 37: Bambouk District: Boto – Karita – Diakha-Siribaya
JUNE 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/Q3 2
Slide 38: Gold Mineral Reserves – 100% Basis
JUNE 2024 CORPORATE PRESENTATION Gold Mineral Reserves – 100% Basis As of December 31, 2023 PROVEN PROBABLE TOTAL RESERVES Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEPOSIT Type* Location Ownership (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) Burkina Essakane2
Slide 39: Gold Mineral Resources – 100% Basis
JUNE 2024 CORPORATE PRESENTATION Gold Mineral Resources1,2 – 100% Basis (Measured & Indicated Resources are inclusive of Proven & Probable Reserves) As of December 31, 2023 MEASURED INDICATED MEASURED + INDICATED INFERRED Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounce
Slide 40: Graeme Jennings, VP, Investor Relations
JUNE 2024 CORPORATE PRESENTATION Graeme Jennings, VP, Investor Relations 416-388-6883 TSX: IMG l NYSE: IAG l www.iamgold.com