Iamgold Corporation · TSX:IMG
Iamgold — PDAC Investors' Forum 2009
22 slides from Iamgold's conference presentation, Mar 2, 2009
Slide 1: Taking IAMGOLD to the Next Level
March 2, 2009 TAKING IAMGOLD TO THE NEXT LEVEL PDAC Investors’ Forum Monday March 2nd, 2009 Joseph Conway, President & CEO
Slide 2: Cautionary Statement
2 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 re
Slide 3: 2008 was an Excellent Year for IAMGOLD
3 IAMGOLD 2008 was an Excellent Year for IAMGOLD • Record gold production of 997,000 ounces, exceeded guidance by 8% • Record revenues of $870 million, up 28% • Record operating cash flow of $255 million, more than doubled • Reserves increased 55% to 12.4 million ounces* • Resources increased 16% to
Slide 4: Corporate Strategy
4 Corporate Strategy Taking IAMGOLD to the Next Level Focusing on Growth through: • Expansions and continuous improvement at existing operations • Disciplined approach to maximize value from short life assets • Aggressive minesite and greenfields exploration • Applying disciplined political and coun
Slide 5: Three Focus Areas: West Africa, Guyana Shield and Quebec
Three Focus Areas: 5 West Africa, Guyana Shield and Quebec • 7 Mining Operations NIOBEC • 4 Development Projects DOYON DIVISION Westwood ROSEBEL YATELA Essakane Quimsacocha SADIOLA DAMANG TARKWA Camp Caiman Buckreef 7 Gold Operations 5 Advanced Projects Niobec Niobium Mine MUPANE
Slide 6: 2008 Gold Production
6 2008 Gold Production Production by Mine, by Region 4% 12% 31% 7% 17% 12% 10% 7% 2008 Actual Total Production: 997,000 oz
Slide 7: Operations
Operations Focus, Discipline, Results • Rosebel • West African Joint Ventures • Mupane and Doyon Division • Niobec
Slide 8: IAMGOLD's Flagship Mine: Rosebel Mine, Suriname
8 IAMGOLD’s Flagship Mine Rosebel Mine, Suriname • 30% of IAMGOLD’s production • 2008 gold production up 20% from 2007 • Further production increases expected in 2009 and 2010 • Mill expansion and optimization increased throughput from 8.9 Mtpa to 10 Mtpa for 2009 and 11 Mt target IMG Ownership 95%
Slide 9: West African Joint Ventures
9 West African Joint Ventures SADIOLA TARKWA YATELA DAMANG 38% 18.9% 40% 18.9% IMG Ownership (JV: Anglogold (JV: Goldfields (JV: Anglogold (JV: Goldfields Ashanti) Ltd.) Ashanti) Ltd.) Location Mali Ghana Mali Ghana M&I Resources (oz)* 2,348,000 2,462,000 313,000 407,000 Inferred Resources (oz) (as
Slide 10: IAMGOLD Operations
10 IAMGOLD Operations MUPANE Doyon IMG Ownership 100% 100% Location Botswana Quebec M&I Resources (oz)* Inferred Resources (oz) 598, 000 453, 000 (as at Dec. 31, 2008) 25, 000 570,000 *M&I resources are inclusive of reserves 2008 Production (oz) 101,000 118,000 2009 (est.) 80,000 79,000 2008 Cash Co
Slide 11: Niobec Mine, Quebec
11 Niobec Mine, Quebec High Margin, Long Life Asset • Significant cash flow contributor to fuel IAMGOLD’s growth strategy - 15-20% of corporate operating cash flow • Niobium used in specialty high strength steels • Price in 2009 as strong as 2008 due to niche market and oligopoly with IMG having ~ 7
Slide 12: Development Properties
Development Properties Filling The Production Pipeline • Westwood • Quimsacocha • Camp Caiman • Essakane
Slide 13: Westwood, Quebec
13 Westwood, Quebec 14 kms Planned Exploration shaft Bousquet Historical production of 5 IMG Ownership 100% million ounces 2kms 10 m / 11.5 g/t Au Location Quebec, Canada 5 m / 23 g/t Au La Ronde M&I Resources (oz) 70,000 oz (0.3 million tonnes @ 6.9 g/t) Resources Resourc Inferred Resources (oz) •
Slide 14: Development Projects
14 Development Projects QUIMSACOCHA CAMP CAIMAN IMG Ownership 100% 100% Location Ecuador French Guiana 2,107,000 1,615,000 M&I Resources (oz)* 61,000 249,000 Inferred Resources (oz) (as at Dec. 31, 2008) M&I resources are inclusive of reserves Mine Life (years) (est.) 7.5 7 Annual Production (est.)
Slide 15: Development Projects: Essakane, Burkina Faso
15 Development Projects Essakane, Burkina Faso • Acquisition of Orezone Resources Inc. in an all share deal closed Feb 25th • Acquired reserves and resources at $45/oz and $35/oz respectively • Fully permitted, under construction with $350 million capex remaining • Production scheduled for Q4 2010 •
Slide 16: IAMGOLD's Strategic Presence in West Africa
16 IAMGOLD’s Strategic Presence in West Africa Operating Mine Development Project Exploration Project BOTO MERREX 20-year history in West Africa 495,000 oz of gold production from Africa in 2008 Creating an African Corporate Office
Slide 17: Conclusions
Conclusions Conclusions • Positioned for Market Revaluation • 5 year Objective • Strong Financial Position • Taking IAMGOLD to the Next Level
Slide 18: Positioned for a Market Revaluation
Positioned for a Market Revaluation Peer Comparison – Cash Flow & Earnings 2 0 0 9 E Operat ing Cash Flow Per $ 1 0 0 0 2 0 0 9 E Earnings Per $ 1 0 0 0 Invest ed $120 Invest ed $60 $55 $54 $103 $52 $100 $93 $95 $91 $50 $44 $79 $40 $38 $80 $40 $60 $30 $45 $47 $22 $20 $37 $40 $34 $20 $17 $20 $10 $0 $
Slide 19: 5 Year Objective: Double Production to 1.8 Million Ounces
19 5 Year Objective Double Production to 1.8 Million Ounces (000 oz) • IAMGOLD has set the goal of reaching 1.8 million ounces of production by 2012 Goal • Doubled gold production twice in the past 8 years Acquisitions, Discoveries 2x growth (3 yrs) Productivity Improvements 2x growth Development Pr
Slide 20: Strong Financial Position
20 Strong Financial Position • Strong balance sheet, strong operating cash flow $US millions Operating Cash Flow and existing credit facility $200 • Cash & Bullion: $219 million $150 (net of debt, bullion at market value) 254.5 $100 Credit facility: $80 million (five-year remaining credit facility)
Slide 21: Taking IAMGOLD to the Next Level
21 Taking IAMGOLD to the Next Level • Expanded and experienced management team delivered excellent results in 2008, achieving: • Record gold production, revenues and operating cash flow • Cost increases less than most peers • Reserve increase of 55% • Successfully executed on our strategy to acquire
Slide 22: Investor Relations
March 2, 2009 Investor Relations: Elaine Ellingham Senior Vice President, Investor Relations & Communications T: 416 360 4743 E: eellingham@iamgold.com