Iamgold Corporation · TSX:IMG
Iamgold — Bank of America Virtual Conference May 12-14 (May 2020)
44 slides from Iamgold's conference presentation, May 2020
Slide 1: Bank of America – Virtual Conference
Bank of America – Virtual Conference May 12-14 TSX: IMG l NYSE: IAG
Slide 2: Cautionary statement
Cautionary statement All information included in this presentation whether in narrative or chart form, 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 s
Slide 3: Technical information and qualified persons
Technical information and qualified persons The mineral resource estimates contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The "Qualified Person" responsible for the review and approval of all
Slide 4: IAMGOLD – Operating from a Position of Strength
IAMGOLD – Operating from a Position of Strength Strong Balance Sheet Geographically Diverse Operations Effective Crisis Management Deep Bench Strength Collaborative Approach 4
Slide 5: IAMGOLD's COVID-19 response
IAMGOLD’s COVID-19 response Zero Harm© is our commitment to continually strive to reach the highest standards in human health, minimize our impact on the environment, and work co-operatively with our host communities. • Activated cross functional Crisis Committees: • Site operations and combined ope
Slide 6: COVID-19 Measures - Essakane
COVID-19 Measures - Essakane Below: frequent cleaning and disinfection At right: convenient handwashing stations. 6
Slide 7: COVID-19 Measures - Rosebel
COVID-19 Measures - Rosebel Kitchen facilities - line ups incorporate social distancing, while lunch times are staggered. Bus pick up point incorporates social distancing and reduced numbers in each shuttle. 7
Slide 8: COVID-19 Measures - Westwood
COVID-19 Measures - Westwood Below: Supervisors’ booths show integration of dividers and protective screens. Markers on floor indicate flow of movement to support social distancing. Successful first attempt to bring workers underground under new protocol, including maintaining personal distance, red
Slide 9: Environmental, Social and Governance (ESG)
Environmental, Social and Governance (ESG) • Implemented the Toward Sustainable Mining framework at all operations • Implementing the World Gold Council’s Responsible Gold Mining Principles Strong ESG • Received highest level (GA-1) of Moody’s Corporate Governance for the Metals and practices Mining
Slide 10: Creating superior shareholder value
Creating superior shareholder value Reinforcing the model • Manage operating costs to maintain positive cash flow; • Capital expenditures reflect value-adding initiatives. Essakane, Burkina Faso Operational improvements at our current sites: • Optimization of Essakane mill, CIL/HL in series; • Saram
Slide 11: Maintaining a strong balance sheet
Maintaining a strong balance sheet LIQUIDITY WELL ABOVE $1 BILLION Cash and cash equivalents1 $795 M Short-term investments $ 7M Available credit facility $500 M $1,302 M Total Liquidity As at March 31, 2020 Senior Notes Outstanding Coupon: 7%; Maturity: April 15, 2025 Corp Rating: B1 (Moody’s) and
Slide 12: Leader among peers: leverage and liquidity
Leader among peers: leverage and liquidity Peer Leverage & Liquidity Comparables 3.3x 3x Debt / EBITDA (2020E) Net Debt / EBITDA (2020E) 2x 1.7x 1.6x 1.6x 1.6x 1.4x 1.4x 1.2x 1.0x 1.1x 1x 0.8x 0.8x 0.8x 0.5x 0.2x 0.3x Net Net 0.1x Net Cash Cash Cash – Centerra Alamos B2Gold IAMGOLD Eldorado Kinross
Slide 13: Ensuring a robust pipeline
Ensuring a robust pipeline FUTURE PRODUCTION AND GROWTH OPPORTUNITIES GROWTH OPPORTUNITIES • Gosselin (Côté), Ontario • Monster Lake, Quebec • Rouyn, Quebec • Karita, Guinea Saramacca, Suriname Mill Optimization, Burkina Faso Côté Gold Project, Ontario • Pitangui, Brazil Boto Gold Project, Senegal D
Slide 14: Reserve & resource update
Reserve & resource update Attributable Contained Gold (000s oz) As at December 31st, 2019 2019 Change 2018 Total Proven and Probable Mineral Reserves1 16,706 (6%) 17,864 Total Measured and Indicated Mineral Resources2,3 27,164 (2%) 27,850 Total Inferred Resources 11,965 38% 8,668 • Mineral reserves
Slide 15: Historic Reserve growth; Counter to Industry Trend
Historic Reserve growth; Counter to Industry Trend 20 17.9M oz 16.7M oz 14.5M oz 15 11.3M oz 10.1M oz 8.6M oz 7.8M oz 10 512M oz 7.7M oz 87 422M oz 5 24 395M oz 19 78 365M oz 349M oz 60 75 328M oz 0 23 69 314M oz 17 26 65 286M oz 62 54 43 20 22 19 23 34 20 20 19 53 -5 156 33 21 31 22 15 119 26 26 22
Slide 16: Diversifying our portfolio
Diversifying our portfolio MAP OF OPERATING, DEVELOPMENT AND EXPLORATION PROJECTS ATTRIBUTABLE MEASURED AND INDICATED RESOURCES NORTH AMERICA Westwood Côté Gold 40% 31% Nelligan North Monster Lake West America Africa CENTRAL AMERICA Eastern Borosi 28% South America SOUTH AMERICA WEST AFRICA Rosebel
Slide 17: Catalysts - 2020 sets up improved profile for 2021
Catalysts - 2020 sets up improved profile for 2021 2019 2020 2021* ✓ Diahka-Siribaya Updated Resource o Westwood NI 43-101 o Westwood Expands Production ✓ Gosselin Zone Discovery at Côté o Saramacca Full Production o Rosebel Ramp with Saramacca ✓ Essakane CIL and Heap Leach o Essakane CIL Plant Opti
Slide 18: Leveraging existing asset base
Leveraging existing asset base Photo: Wärtsilä 18
Slide 19: Rosebel Gold Mine, Suriname
Rosebel Gold Mine, Suriname 19
Slide 20: Rosebel – overview
Rosebel – overview OVERVIEW KEY NOTES Ownership • Gross Rosebel Concession: 95% IAMGOLD, 5% Reserves & Resources Government of Suriname • Rosebel’s reserves & resources • UJV – 70% IAMGOLD, 30% extends mine life to 2033 including Staatsolie Saramacca Mining • Conventional open pit Saramacca Developm
Slide 21: Essakane Gold Mine, Burkina Faso
Essakane Gold Mine, Burkina Faso 21
Slide 22: Essakane – overview
Essakane – overview OVERVIEW KEY NOTES Ownership • 90% IAMGOLD, 10% Government of Burkina Faso CIL (carbon-in-leach) Debottlenecking Mining • Conventional drill, blast, load and • Improve throughput and gravity Method haul surface mining method recovery, $9M capex Production • Began commercial produ
Slide 23: CIL/HL feasibility study highlights
CIL/HL feasibility study highlights PRODUCTION PROFILE HIGHLIGHTS 600,000 100% Basis1 PFS FS CIL (FS) HL (FS) Mining Capacity 70.0 Mtpa 55.0 Mtpa CIL (PFS) HL (PFS) CIL Milling Capacity (100% hard rock equivalent) 10.8 Mtpa 11.7 Mtpa 500,000 HL Processing Capacity 10.0 Mtpa 8.5 Mtpa HL Tonnage 61.9
Slide 24: Westwood Gold Mine, Canada
Westwood Gold Mine, Canada 24
Slide 25: Westwood – overview
Westwood – overview OVERVIEW KEY NOTES Ownership • 100% IAMGOLD Progressing Development Mining • Underground • Targeting safe, profitable, long life Method Production • Began commercial production in mine Status July 2014 • Ramp-up production and cost LOM • To 2033 guidance issued1 2020 • 85 – 100 k
Slide 26: Development and exploration projects
Development and exploration projects 26
Slide 27: Côté Gold – transformational value in Canada
Côté Gold – transformational value in Canada OVERVIEW RESERVE AND RESOURCE1 FEASIBILITY STUDY HIGHLIGHTS2 (100% Basis) Extended Case Base Case (100% Basis) Mine Capacity: Mine Capacity: Location • Gogama, Ontario, 130 km southwest of Contained Mining: open pit Tonnes Grade 70 Mtpa 62 Mtpa Timmins; 2
Slide 28: …with exploration potential
…with exploration potential GOSSELIN, YOUNG-SHANNON 1.5 KM NORTHEAST OF CÔTÉ Gosselin Drill Hole Highlights • GOS19-17: 342.5 metres grading 0.98 g/t Au • includes: 225.0 metres grading 1.34 g/t Au • GOS19-24: 412.0 metres grading 1.28 g/t Au • includes: 221.4 metres grading 1.47 g/t Au CONCEPTUAL P
Slide 29: Boto Gold – high margin investment in prospective district
Boto Gold – high margin investment in prospective district OVERVIEW RESERVE AND RESOURCE1 OPTIMIZATION STUDY HIGHLIGHTS1 (100% Basis) (100% Basis) Location • Senegal, West Africa Contained Mine Capacity: Tonnes Grade Mining: open pit Ounces 38 Mtpa Ownership • 90% IAMGOLD / 10% Gov’t of Senegal (000
Slide 30: …with district potential
…with district potential BOTO GOLD PROJECT, SENEGAL • Announced the receipt of the exploitation permit for an initial period of 20 years. • Completion of the completion of the Optimization Study1, which confirms robust project economics. DIAKHA-SIRIBAYA GOLD PROJECT, MALI • Resource ounces increased
Slide 31: Shovel Ready Projects: de-risking in Q1 with non-field activities
2 Shovel Ready Projects: de-risking in Q1 with non-field activities Boto Gold, Senegal Côté Gold, Ontario, Canada • ~ 7% complete on detailed project engineering • ~ 56% complete on detailed project engineering • Maintained our relationships with stakeholders • Tailings facility • Received the explo
Slide 32: Resource stage in Canada
Resource stage in Canada NELLIGAN (75% JV INTEREST) • 15 kilometres south of Monster Lake • Exercised option to increase undivided interest to 75% (from 51%), MONSTER LAKE (Au) following completion of NI 43-101 Technical Report • Completed initial resource estimate1, comprising approximately 97 mill
Slide 33: Re-seeding the pipeline
Re-seeding the pipeline West Africa North America South America Fala/Fala E Saramacca >5 Moz Au Production >2 Moz Au <2 Moz Au Boto Côté Feasibility Study Brownfield Advance Greenfield Greenfield Pre-feasibility Study Diakha-Siribaya Monster Lake Saõ Sebastião Initial Resource / Gossey Nelligan East
Slide 34: IAMGOLD – building a cash flow pipeline
IAMGOLD – building a cash flow pipeline Our vision is to be the global leader in generating superior value for our stakeholders through accountable mining. CREATING DIVERSIFYING MAINTAINING ENSURING superior our a strong a robust stakeholder value portfolio balance sheet pipeline • Operational • Reg
Slide 35: Appendix
Appendix # IAMGOLD 35
Slide 36: 2020 production and cost guidance
2020 production and cost guidance REFLECTING COVID-19 IMPACTS ON PRODUCTION AND COSTS UPDATED GUIDANCE1 PRIOR GUIDANCE2 Essakane (000s oz) 350 – 370 365 – 385 Rosebel (000s oz) 250 – 270 245 – 265 Westwood (000s oz) 85 – 100 90 – 110 Total attributable production (000s oz) 685 – 740 700 – 760 Cost o
Slide 37: 2020 capex outlook
2020 capex outlook UPDATED PRIOR GUIDANCE Non- Non- $millions Sustaining1 Sustaining2 Total3 Sustaining1 Sustaining2 Total3 Essakane $40 $80 $120 $40 $100 $140 Rosebel $60 $55 $115 $55 $60 $115 Westwood $25 $15 $40 $25 $25 $50 $125 $150 $275 $120 $185 $305 Côté Gold - $45 $45 - $35 $35 Boto Gold - $
Slide 38: 2021 production and capital guidance under review
2021 production and capital guidance*under review HIGHER VOLUMES & GRADE AT ROSEBEL ♦ WESTWOOD RAMPS ♦ ESSAKANE PUSHBACKS OPEN UP ORE Full Year Guidance1 Essakane (000s oz) 355 – 385 Rosebel (000s oz) 305 – 335 Westwood (000s oz) 100 – 120 Total attributable production (000s oz) 760 – 840 Capital Ex
Slide 39: Reducing input exposure through hedging
Reducing input exposure through hedging 2020 2021 2022 2023 Foreign Currency Canadian dollar contracts (millions of C$) 191 252 210 120 1 Rate range ($/C$) 1.30 - 1.3950 1.30 - 1.47 1.30 - 1.4750 1.30 - 1.4625 Hedge ratio 87% 81% 65% 36% 2 Commodities Brent oil contracts (barrels) 3 432 588 520 170
Slide 40: Gold mineral reserves
Gold mineral reserves 100% BASIS RESERVES Proven Probable Contained Contained Tonnes Grade Tonnes Grade As at December 31, 2019 Ounces Ounces (000s) (g/t) (000s) (g/t) (000s) (000s) Rosebel1 29,522 0.6 574 92,356 1.0 2,947 Saramacca1 111 0.5 2 26,090 1.8 1,531 Essakane1 — — — 124,713 1.0 3,805 Westw
Slide 41: Gold mineral reserves
Gold mineral reserves ATTRIBUTABLE RESERVES Proven Probable Contained Contained Tonnes Grade Tonnes Grade As at December 31, 2019 Ounces Ounces (000s) (g/t) (000s) (g/t) (000s) (000s) Rosebel (95%)1 28,046 0.6 545 87,738 1.0 2,800 Saramacca (66.5%)1 74 0.5 1 17,350 1.8 1,018 Essakane (90%)1 — — — 11
Slide 42: Gold mineral resources
Gold mineral resources1,2 (Measured and indicated resources are inclusive of proven probable reserves) 100% BASIS RESOURCES Measured Indicated Inferred Contained Contained Contained As at December 31, 2019 Tonnes Grade Tonnes Grade Tonnes Grade Ounces Ounces Ounces (000s) (g/t) (000s) (g/t) (000s) (
Slide 43: Gold mineral resources
Gold mineral resources1,2 (Measured and indicated resources are inclusive of proven probable reserves) ATTRIBUTABLE RESOURCES Measured Indicated Inferred Contained Contained Contained As at December 31, 2019 Tonnes Grade Tonnes Grade Tonnes Grade Ounces Ounces Ounces (000s) (g/t) (000s) (g/t) (000s)
Slide 44: Indi Gopinathan, VP, Investor Relations & Corporate Communications
Indi Gopinathan VP, Investor Relations & Corporate Communications 416-360-4743
IAMGOLD — Bank of America Virtual Conference May 12-14 (May 2020) on 6ix