Iamgold Corporation · TSX:IMG
Iamgold — Investor Presentation (April 2023)
44 slides from Iamgold's investor presentation, April 2023
Slide 1: Corporate Presentation
MARCH 2023 CORPORATE PRESENTATION CORPORATE PRESENTATION TSX: IMG l NYSE: IAG April 2023 www.iamgold.com TSX: IMG l NYSE: IAG l www.iamgold.com TSX: IMG l NYSE: IAG l www.iamgold.com
Slide 2: Cautionary Statement
MARCH 2023 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 expe
Slide 3: Technical Information and Qualified Persons
MARCH 2023 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 43
Slide 4: IAMGOLD – Building a Leading High-Margin Gold Producer
MARCH 2023 CORPORATE PRESENTATION IAMGOLD – Building a Leading High-Margin Gold Producer FOCUSING ON PROFITABILITY COMMITMENT TO ESG • Produced 713,000 ounces in 2022, above the upper end of • Zero Harm® commitment and focus on safety, while revised production guidance of 650,000 – 705,000 ounces bu
Slide 5: Operations Overview
MARCH 2023 CORPORATE PRESENTATION Operations Overview PRODUCTION CONSTRUCTION ESSAKANE WESTWOOD CÔTÉ GOLD Burkina Faso, West Africa Quebec, Canada Ontario, Canada (90% Ownership) (100%) (64.75% | 55.5% Ownership3) Start-up 2010 2014 Start-up Early 2024 Mine type Open pit Underground / Satellite OP M
Slide 6: Responsibility & Accountability
MARCH 2023 CORPORATE PRESENTATION Responsibility & Accountability ENVIRONMENTAL HEALTH & SAFETY • Commitment to achieve net negative GHG emissions by 2050 • Targeting net positive biodiversity at operations Days Away, Restricted or Transferred Duty (DART)1 • Medium term targets and roadmap to be iss
Slide 7: 2022 Operational Overview
MARCH 2023 CORPORATE PRESENTATION 2022 Operational Overview (all operations) OPERATING RESULTS Q4 2022 Q4 2021 2022 2021 PRODUCTION Essakane (90%) koz 98 98 432 412 Annual production (attr.) of 713,000 ounces Westwood (100%) koz 18 13 67 35 • Above top end of revised guidance of 650,000 – 705,000 ou
Slide 8: 2023 Outlook
MARCH 2023 CORPORATE PRESENTATION 2023 Outlook GOLD PRODUCTION1 SUSTAINING CAPEX2,3 EXPANSION CAPEX2,3 (attributable ounces) ($M, incl. capitalized stripping) ($M) 2023 2023 2023 2022 2022 2022 GUIDANCE GUIDANCE GUIDANCE Essakane 432,000 340,000 – 380,000 $158.8 $150 $3.8 $5 Westwood 67,000 70,000 –
Slide 9: Operations
MARCH 2023 CORPORATE PRESENTATION Operations 9
Slide 10: Essakane
MARCH 2023 CORPORATE PRESENTATION Essakane (100% basis, unless otherwise stated) Q4 2022 Q4 2021 2022 2021 Ore mined kt 1,691 4,113 12,585 16,015 Q4 2022 OPERATIONAL REVIEW Material mined – total kt 10,486 15,016 49,685 60,420 Attributable production of 98,000 ounces (2022: 432,000 ounces) Strip rat
Slide 11: Westwood Complex
MARCH 2023 CORPORATE PRESENTATION Westwood Complex (100% basis, unless otherwise stated) Underground lateral development metres Q4 2022 1,297 Q4 2021 397 2022 4,303 2021 946 Ore mined – underground kt 64 61 241 106 Q4 2022 OPERATIONAL REVIEW Ore mined – other sources kt 216 229 836 919 Attributable
Slide 12: Côté Gold
MARCH 2023 CORPORATE PRESENTATION Côté Gold Côté Pit – March 2023 Processing plant interior – March 2023 Processing plant – March 2023 Leach Tanks – March 2023 CAT793 Haul Truck – January 2023 Vertimill Installation – March 2023 12
Slide 13: Côté Gold: Updated LOM Plan Highlights
MARCH 2023 CORPORATE PRESENTATION Côté Gold: Updated LOM Plan Highlights @ 100% Operations PRODUCTION & COSTS 600 $1,400 Mine Life years 18 Total Ore Tonnes Mined kt 236,000 $1,200 500 Strip Ratio w:o 2.4 $1,000 Processing Rate tpd 37,200 400 Ounces (000 oz) Gold Grade, Processed g/t Au 0.96 $800 $/
Slide 14: Côté Gold: Quarterly Progress Report
MARCH 2023 CORPORATE PRESENTATION Côté Gold: Quarterly Progress Report as at Dec 31, 2022 ACTIVITIES UPDATE 73% $631.9M $1.2B project completion incurred in 20221 incurred to date1 • Incurred $185.6 million in Q4 2022 (at an average CADUSD rate of 1.39). Estimated funding to complete2 for IAG as at
Slide 15: Côté Gold Upcoming Milestones
MARCH 2023 CORPORATE PRESENTATION Côté GoldUpcoming Milestones Côté Gold: 2022 2023 2024 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 TMF Phase I Q2/23 Earthworks TMF Phase II Q3/23 Overburden Removal Q3/23 AHS Control Room Côté Pit – Aug 2022 Q4/22 Processing plant interior – Aug 2022 Processing plant – Aug
Slide 16: Côté Gold: Gosselin
MARCH 2023 CORPORATE PRESENTATION CÔTÉ GOLD PROJECT – MINERAL RESERVES & RESOURCES (2022)2,3 Côté Gold: Gosselin Tonnes Grade Contained Attributable Contained Classification (millions) (g/t Au) (Moz Au) (Moz Au) 17,000 m drilling campaign in 2022 to expand Gosselin mineralization Côté Gold Deposit •
Slide 17: Financial Review
MARCH 2023 CORPORATE PRESENTATION Financial Review Photo: Wärtsilä, Hybrid Solar/Thermal Plant at Essakane 17
Slide 18: Financial Results
MARCH 2023 CORPORATE PRESENTATION Financial Results 2022 FINANCIAL PERFORMANCE FROM CONTINUING OPERATIONS FINANCIAL HIGHLIGHTS – continuing operations Gold revenues of $958.8 million (Q4: $207.2 million) from sales of 555,000 ounces (In $ millions, unless otherwise stated) Q4 2022 Q4 2021 2022 2021
Slide 19: Liquidity + Funding Summary
MARCH 2023 CORPORATE PRESENTATION Liquidity + Funding Summary LIQUIDITY & FUNDING LIQUIDITY (as of Dec 31, 2022) Funding estimates Cash and equivalents of $407.8 million +$282 • Excludes $40.8 million in assets held for sale, including $38.5 million at Rosebel • $236.4 million of cash and cash equiv
Slide 20: Sumitomo Agreement: Funding with an Option to Repurchase
MARCH 2023 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 21: Essakane Gold Mine, Burkina Faso
MARCH 2023 CORPORATE PRESENTATION Essakane Gold Mine, Burkina Faso 21
Slide 22: Essakane – Overview
MARCH 2023 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 ~20271 Essakane 3.0 Strip ratio NIGER 2022 Performance2 2023 Guidance2,3 2022 Capital costs2,3 M tonnes 35 MALI 432,000 oz 340,000 – 3
Slide 23: Westwood Complex, Canada
MARCH 2023 CORPORATE PRESENTATION Westwood Complex, Canada 23
Slide 24: Westwood – Overview
MARCH 2023 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 gui
Slide 25: Westwood – “Hub-and-Spoke” Potential
MARCH 2023 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 26: Exploration Projects
MARCH 2023 CORPORATE PRESENTATION Exploration Projects 26
Slide 27: Bambouk District: Boto – Karita – Diakha-Siribaya
MARCH 2023 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 $282 million6 with close expected by Q2/Q3
Slide 28: Chibougamau: Emerging District
MARCH 2023 CORPORATE PRESENTATION Chibougamau: Emerging District NELLIGAN (75% JV INTEREST) Nelligan 2022 Resource Pit Shell • Located 60 kilometres southwest of Chibougamau, Québec • Exercised option to increase undivided interest to 75% (from 51%) in December 2019 • Updated resource estimate1(on 1
Slide 29: Appendix
MARCH 2023 CORPORATE PRESENTATION Appendix 29
Slide 30: Côté Gold: Updated LOM Plan Highlights
MARCH 2023 CORPORATE PRESENTATION Côté Gold: Updated LOM Plan Highlights Côté Gold3,4 Côté Gold3,4 @ 100% @ 100% Operations Operating Costs US$ Mine Life years 18 Cash costs2 $/oz Au $699 Total Ore Tonnes Mined kt 236,000 Cash costs2 (Years 1 – 6) $/oz Au $591 Total Waste Tonnes Mined kt 568,000 AIS
Slide 31: Côté Gold: Project Costs
MARCH 2023 CORPORATE PRESENTATION Côté Gold: Project Costs 43-101 PROJECT COST UPDATE1 REMAINING SPEND TO COMPLETE (as of May 1, 2022) as of May 1, 2022 as of October 1, 2022 @ 100% PROJECT COSTS (US$ million)1 43-101 IAMGOLD Procurement 343 Costs to complete attributable Remaining spend to complete
Slide 32: Côté Gold: Mining
MARCH 2023 CORPORATE PRESENTATION Côté Gold: Mining MATERIAL MOVEMENT 80,000 OVERVIEW 70,000 Open-pit drill, blast, load and haul averaging 60 Mtpa over LOM 60,000 • Drill/Blast: Autonomous Epiroc PV-231 blasthole drills 50,000 Tonnes (000 t) • Load: CAT 6060 electric/hydraulic shovels & CAT 994K hi
Slide 33: Côté Gold: Processing
MARCH 2023 CORPORATE PRESENTATION Côté Gold: Processing OVERVIEW THROUGHPUT & GRADE 37,200 tpd Crush/HPGR/Grind/Leach/CIP Processing Plant 16,000 1.60 • Average recoveries of 91.8%, recovery by gravity of 23% 14,000 1.40 • HPGR and grinding target final product size of P80 100 μm 12,000 1.20 • Class
Slide 34: Côté Gold: Operating Costs
MARCH 2023 CORPORATE PRESENTATION Côté Gold: Operating Costs OPERATING & UNIT COSTS OPERATING COSTS LOM $/tonne $/tonne $/oz Mining costs (gross) of $2.62/t material mined $M material processed sold Mining costs (net, excluding CWS) of $6.20/t processed ore Mining (gross costs incl. CWS)1 $2.62 • Ne
Slide 35: Hedge Portfolio: Foreign Currency and Oil Derivatives
MARCH 2023 CORPORATE PRESENTATION Hedge Portfolio: Foreign Currency and Oil Derivatives (as at December 31, 2022) 2023 2024 Foreign Currency1,5 Canadian dollar contracts2 (millions of C$) 575 163 Rate range (USDCAD) 1.30 – 1.46 1.30 – 1.32 Hedge ratio3 57% 15% Commodities4 Brent oil contracts (barre
Slide 36: Hedge Portfolio: Gold Bullion Contracts
MARCH 2023 CORPORATE PRESENTATION Hedge Portfolio: Gold Bullion Contracts (as at December 31, 2022) Put Call 2023 2024 $/ounce 000s of ounces Zero cost collars (1) $1,700 $2,252 93 – Zero cost collars (2) $1,850 $1,990 75 – Zero cost collars (2) $1,850 $2,175 15 – Zero cost collars (2) $1,850 $2,191
Slide 37: Gold Prepayment – Illustrative Impact
MARCH 2023 CORPORATE PRESENTATION Gold Prepayment – Illustrative Impact PREPAYMENT ARRANGEMENT STRUCTURE GOLD PREPAY RECOGNITION • Cash proceeds received up front in return for obligation to unit 2019 2022 2024 deliver ounces at a later date Illustrative gold price US$/oz $1,300 $1,800 $1,800 • Sett
Slide 38: Gold Mineral Reserves – Attributable
MARCH 2023 CORPORATE PRESENTATION Gold Mineral Reserves – Attributable As of December 31, 2022 PROVEN PROBABLE TOTAL RESERVES Effective Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEPOSIT Location Ownership (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) Rosebel 1,6
Slide 39: Gold Mineral Resources – Attributable
MARCH 2023 CORPORATE PRESENTATION Gold Mineral Resources1,2 – Attributable (Measured & Indicated Resources are inclusive of Proven & Probable Reserves) As of December 31, 2022 MEASURED INDICATED MEASURED + INDICATED INFERRED Effective Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonne
Slide 40: Notes to the Gold Mineral Resources Statement
MARCH 2023 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 reason
Slide 41: Notes
MARCH 2023 CORPORATE PRESENTATION Notes 41
Slide 42: Notes
MARCH 2023 CORPORATE PRESENTATION Notes 42
Slide 43: Notes
MARCH 2023 CORPORATE PRESENTATION Notes 43
Slide 44: Graeme Jennings, VP, Investor Relations
MARCH 2023 CORPORATE PRESENTATION Graeme Jennings, VP, Investor Relations 416-388-6883 TSX: IMG l NYSE: IAG l www.iamgold.com