Iamgold Corporation · TSX:IMG
Iamgold — Investor Day (June 2018)
142 slides from Iamgold's investor day presentation, Jun 26, 2018
Slide 1: Investor and Analyst Day
Investor and Analyst Day June 26, 2018 EXECUTE AND COMMUNICATE
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: Agenda
Agenda 1:00 pm EXECUTIVE OVERVIEW 1:30 pm THE AMERICAS 2:45 pm WEST AFRICA 3:30 pm CLOSING 4:00 pm COCKTAIL HOUR 2
Slide 4: Management Participants
Management Participants EXECUTIVE LEADERSHIP TEAM OPERATIONS Steve Letwin – President & CEO Oumar Toguyeni – Regional VP, West Africa Carol Banducci – EVP and Chief Financial Officer Suresh Kalathil – General Manager, Rosebel Gord Stothart – EVP and Chief Operating Officer Martial Tremblay – General
Slide 5: Strategic Review
Strategic Review Steve Letwin
Slide 6: Geographically Diverse Over Continents
Geographically Diverse Over 3 Continents NORTH AMERICA IAMGOLD Attributable Measured and Indicated Resources Westwood Côté Gold As at December 31, 2011 As at December 31, 2017 3% Nelligan North America Monster Lake WEST AFRICA 23% Essakane South Sadiola America CENTRAL AMERICA Boto Gold 42% 54% East
Slide 7: Structured for Long-Term Growth
Structured for Long-Term Growth 86% 14.5 Moz Increase Reserve Increases4 Côté: +3.8Moz Attributable Reserves (Moz) 1,2,3 Rosebel: +1.7Moz Boto: +1.4Moz 7.8 Moz Essakane: +0.5Moz Westwood: +0.3Moz 2016 2017 *Reserve numbers included on this slide have been rounded 1. Mineral reserves have been estima
Slide 8: Driving Cost Effective Growth
Driving Cost Effective Growth Reserves Attributable Production All-in Sustaining Cost 1,350 $1,350 / oz 1,350 1,350 koz Attributable Production (000s OZ) 1,250 $1,250 / oz 1,250 1,250 koz All-in SustainingCosts $/OZ 1,150 $1,150 / oz 1,150 1,150 koz Attributable Production All-in Sustaining Cost 1,1
Slide 9: Projects Support a Clear Growth Strategy
Projects Support a Clear Growth Strategy Boto Gold Côté Gold Investment Advancing decision to be Westwood towards made development Ramping up production Future Growth Essakane Options Unlocking potential through Further brownfield Heap Leaching expansion and Rosebel and satellite exploration project
Slide 10: Financial Review
Financial Review Carol Banducci
Slide 11: Industry Leading Balance Sheet
Industry Leading Balance Sheet • Cash and Cash Equivalents based on recent reporting period. • IAMGOLD reflects March 31, 2018 balance. Cash and Cash Equivalents includes $125.9 million short-term investments and excludes restricted cash of $25.4 million. Expect to receive the remaining $95 Million
Slide 12: Well Capitalized
Well Capitalized Position (as at March 31, 2018) $M Cash, cash equivalents and ST investments (Excludes restricted cash) 831 Restricted Cash 25 Available Credit Facility 249 LTD - senior unsecured notes 392 Shareholder’s Equity (incl. non-controlling interests) 2,888 Total Capitalization 3,205 Net C
Slide 13: Outstanding Derivative Hedge Contracts
1 Outstanding Derivative Hedge Contracts 2018 2019 2020 2021 2022 Foreign Currency Canadian dollar contracts (millions of C$) 161 Contract rate range (C$/$) 1.30 - 1.45 Hedge ratio 72% Euro contracts (millions of €) 62 Contract rate range ($/€) 1.08 - 1.19 Hedge ratio 32% Commodities Brent oil contr
Slide 14: Corporate Affairs
Corporate Affairs Ben Little
Slide 15: Tools for Managing Country Risk
Tools for Managing Country Risk Reputation matters – protect it Strong advocacy arm Target balanced agreements Timing is everything Leverage the Canada brand Intelligence is crucial ‘Local’ not multinational Understand legal options 14
Slide 16: Operations Outlook
Operations Outlook Gord Stothart
Slide 17: Operations – Organization Structure
Operations – Organization Structure EVP & COO Gord Stothart Director, Development Director, Technical Director, Global Supply Regional VP, Americas Regional VP, West Africa Projects Services Chain, Bruno Lemelin Oumar Toguyeni Philippe Gaultier Daniel Vallières TBA - Mining -Metallurgy Côté Gold -Ge
Slide 18: 2018 Production and Cost Guidance
2018 Production and Cost Guidance Full Year Guidance 1 Essakane (000s oz.) 380 – 395 Rosebel (000s oz.) 295 – 310 Westwood (000s oz.) 125 – 135 Total owner-operated production (000s oz.) 800 – 840 Joint ventures (000s oz.) 50 – 60 Total attributable production (000s oz.) 850 – 900 Cost of sales 2 ($
Slide 19: 2018 Capex Outlook
2018 Capex Outlook Full Year Guidance $millions Non- Sustaining1 Sustaining Total4 Essakane $75 $75 $150 Rosebel $45 $85 $130 Westwood $20 $45 $65 Owner-operator $140 $205 $345 Corporate and Development Projects2 – $15 $15 Total owner-operator $140 $220 $360 Sadiola (Joint Venture)3 – $5 $5 Total (±
Slide 20: Mineral Reserves and Resources
Mineral Reserves and Resources1 Contained Gold (000s attributable oz) As of December 31st 2017 Change 2016 Total proven and probable mineral reserves1 14,514 86% 7,798 Total measured and indicated mineral resources 2,3 24,723 6% 23,331 Total inferred resources 8,793 44% 6,124 • Mineral reserves have
Slide 21: Rosebel’s Path to Sustaining Growth
Rosebel’s Path to Sustaining Growth 2020 – 2028 2019 Continued consolidation 2018 Saramacca production 2017 Reserve start estimate for 69% reserve Saramacca increase through mine plan Drilling optimization Brokolonko CREATING A NEW GOLD Saramacca initial DISTRICT THROUGH resource CONSOLIDATION 20
Slide 22: Essakane’s Path to Sustaining Growth
Essakane’s Path to Sustaining Growth 2021- 2030 2020 Heap Leaching 2019 Heap Leap running in parallel to existing plant production start 2018 Complete Heap Leach FS Exploration upside with multiple satellite deposits Gossey resource 10-15km from mill estimate 39% reserve increase based on Heap Leach
Slide 23: Westwood’s Path to Sustaining Growth
Westwood’s Path to Sustaining Growth 2020 – 2035 2020 Potential to extend LOM through exploration 2015-2019 Full Production Ramp-up Resource Conversion Ongoing performance optimization RAMPING UP PRODUCTION 22
Slide 24: Côté Gold Development Project
Côté Gold Development Project 2021 – 2038 2020 Production 2019 Construction Potential to 2018 Investment extend LOM 2017 Feasibility study decision Begin pre-strip through exploration Construction Pre-Feasibility Study confirms low operating costs and ADVANCING ONE OF attractive returns CANADA’S LAR
Slide 25: Americas
Americas Gordon Stothart
Slide 26: Americas Overview
Americas Overview Welcoming Bruno Lemelin to his new role as RVP Americas, NORTH AMERICA effective July 1, 2018. Bruno Westwood was formerly the General Côté Gold Manager at Essakane. Nelligan Monster Lake Welcoming Martial Tremblay CENTRAL AMERICA as General Manager, Eastern Borosi Westwood, effect
Slide 27: Westwood, Quebec
Westwood, Quebec Martial Tremblay
Slide 28: Westwood Mine
Westwood Mine Located in Quebec, 40 km east of Rouyn-Noranda The Westwood property covers 1,925 hectares and consists of 120 titles Westwood is one of the major employers in the region of Rouyn-Noranda The geology is very complex with high potential for increasing resources 27
Slide 29: Q1 2018 Results Update
Q1 2018 Results Update Key Performance Indicators YTD Target YTD Actual Variance Safety DART Rate* 2.7 5.2 93% TRIR+ 7.1 9.8 38% Development (m) Underground lateral development 2,283 2,794 22% Underground vertical development 384 322 -16% Total development 2,667 3,116 17% Cost/lateral development me
Slide 30: Health & Safety
Health & Safety 2014 2015 2016 2017 2018 YTD Westwood TRI Rate 11.94 13.23 7.92 10.40 8.50 Westwood DART Rate 2.68 5.01 0.60 2.68 4.11 29
Slide 31: 2018 Strategic Priorities
2018 Strategic Priorities Labour Sustainability Resources Operations • Strategic • Strategic plan • Progressive • Boltec acquisition for future resource reinforced and retention closure of conversion jumbo cabs plan Doyon pit • Update • Implement • H&S culture • Technical mining continuous change va
Slide 32: 2018 Production Plan Summary
2018 Production Plan Summary Production from Blocks 1&2 OPEX and CAPEX development in Blocks 1&2 Block 1 Block 2 Expansion development in Blocks 3&4 Ramp down from 180 level Exploration drift 132-08 Block 3 Block 4 Block 5 Block 6 31
Slide 33: Q2 Development Priorities
Q2 Development Priorities • Central ramp connection between 60 and 84 levels in Q3 improved flexibility Rehabilitation work will allow production to restart in Z230-A Block 1 Block 2 domain in early 2019 • Development of 180-West level (Block 3) Beginning of production in Block 3 early 2019 • De
Slide 34: Blue Sky Potential
Blue Sky Potential #IAMGOLD 3 g son.2 j Grand Duc 2000.2 @ Proven Reserves HR Probable Reserves Ss Measured Resources GB Csiindicated Resources GE Csiinferred Resources i» Blue Sky 2000.01 Zones Explo: Doyon\ \ X Zones Explo. Westwood Westwood 4002.0-£ £002. & Warrenmac Propriété Ellison 33
Slide 35: 2018 Improvement & Success
2018 Improvement & Success Production ahead of budget; on track for development target Cost targets achieved Success in resource conversion Geotechnical Risk Management Plan Seismicity understanding Restart all suspended headings Continuous improvement training New management team 34
Slide 36: Westwood Strategic Horizons
Westwood Strategic Horizons 200,000 150,000 Production (oz) 100,000 50,000 0 2008 2012 2016 2020 2024 2028 2032 2008 - 2014 Construction & Development 2015 - 2020 Ramp -Up 2020 - 2035 Full Production Potential LOM extension 2029 - 2034 through exploration 2036 Closure based on current mine plan 35
Slide 37: Rosebel, Suriname
Rosebel, Suriname Suresh Kalathil
Slide 38: Rosebel Mine
Rosebel Mine Located in Brokopondo district +/- 100 km from the capital city, Paramaribo Exploitation concession covers 17,000 hectares Exploration: ~ 74,000 hectares +/- 18 km from Afobakka Hydro-electric plant One of the largest foreign investments in Suriname 1st commercial gold mine
Slide 39: Vision
Vision Vision To be the lowest cost and best in class gold producing mine in the world Mission To safely achieve short-term plan & long-term vision by i. Continuously identifying short and long-term opportunities ii. Achieving and sustaining the identified opportunities 38
Slide 40: Disciplined Approach
Disciplined Approach Focus on economic returns Return on capital is the main criteria for investment decisions Cost containment Focus on managing costs in any gold price environment Innovation Apply where possible to generate superior return Positioning for the future Develop pipeline of explora
Slide 41: Key Value Drivers
Key Value Drivers Mill operations strategy to reduce cyanide & grinding media consumption Production Cost Drilling & blasting accuracy and productivity optimization $/Tonne Mined Loading & Hauling efficiency and cost optimization OPEX Parts management Consumables Supply chain end-to-end process revi
Slide 42: Pit Layout
Pit Layout #IAMGOLD
Slide 43: Theme for 2018
Theme for 2018 2014: 3 C’s: Cost Reduction, Capital Discipline, Cash Preservation 2015: Zero-Based Budget 2016: Rosebel Transformation 2017: Maximizing Net Asset Value & Year of the Employee 2018: From ‘GOOD to GREAT’ - Year of Capacity Building Promote a culture of safety and well-being Promote
Slide 44: Accomplishments 2013-2017
Accomplishments 2013-2017 Reduce AISC from > $1,500 to < $950/oz Create foundation for long-term success Debottlenecking plant to improve hard-rock throughput Productivity improvements through Business Excellence Improved cost structure Workforce rationalization Fundamental improvement in labor
Slide 45: Rosebel 2017 Highlights
Rosebel 2017 Highlights Compared to 2011: 20% more production with 20% less workforce 80% increase1 in reserves resulting from improved cost structure extending Mine Life to 2028. Highest % of hard and transition rock on record (83% of total ore feed); and 46% hard rock only, up from 33% in 20
Slide 46: Mill Production
Mill Production Million Tonnes Milled - Rosebel Gold Mines N.V. 14.0 13.1 12.5 12.8 12.5 13.0 12.3 12.6 12.0 12.8 11.5 12.0 12.3 12.1 12.2 11.8 11.0 10.7 10.0 9.0 10.2 9.6 9.8 8.0 8.0 8.7 8.6 8.0 8.2 7.2 6.0 Budget 2013-2017 Budget 2015-2019 4.0 Budget 2017-2021 Budget 2018-2022 2.0 Realized - 2012
Slide 47: Mine & Mill Unit Costs
Mine & Mill Unit Costs Rosebel unit costs for Mining have declined from approx. $2.35 to $2.00 since 2013 Rosebel unit costs for Milling have declined from approx. $5.00 to $4.75 since 2013 Was this due to reduced fuel price and devaluation (GOOD FORTUNE) or was this due to real productivity gai
Slide 48: Mining Cost – Productivity Gains
Mining Cost – Productivity Gains 3.00 100% Reduction in mining costs from $2.35/t to $2.02/t 90% 2.50 0.09 80% Offset $0.15/t 0.00 0.24 0.35 due to 30% 0.34 0.31 0.35 increase in hard 66% 70% 2.00 rock 58% 60% Offset $0.15/t 52% 50% due to RC Grade 1.50 50% Control 38% 2.36 40% 2.34 30% 2.15 2.04 1.
Slide 49: Productivity (Mine)
Productivity (Mine) Tonnes Mined & Moved per Man-hour 2017 70.0 25.0 22.0 21.3 60.0 20.0 21.1 21.3 18.9 20.0 18.9 17.2 50.0 17.5 16.0 15.4 15.2 16.2 15.5 15.0 14.9 15.0 40.0 Tonnes Mined & Moved Tonnes Mined & Moved (Millions) per Man-hour 63.1 63.5 64.1 62.8 30.0 61.3 57.2 10.0 52.3 53.1 20.0 5.0 1
Slide 50: Milling Cost – Productivity Gains
Milling Cost – Productivity Gains 6.00 100% Since 2014: milling costs have 0.25 90% only increased by 0.46 $0.10/t from $4.93 0.00 5.00 0.00 0.11 0.46 0.68 to $5.04 80% Despite $0.68/t 70% 70% increase due to 4.00 30% increase HR 61% 60% to 61% 3.00 50% 46% 5.33 About $0.15/t of 5.13 4.93 4.95 5.04
Slide 51: Productivity (Mill)
Productivity (Mill) Tonnes Milled per Man-hour 2017 14.0 5.0 13.0 4.5 4.3 4.2 12.0 4.0 3.7 3.6 3.6 3.6 11.0 3.5 3.5 3.3 10.0 3.0 Tonnes Milled Tonnes Milled 9.0 2.5 (Millions) per Man-hour 12.8 12.9 12.8 13.1 12.8 12.3 12.6 12.3 8.0 2.0 7.0 1.5 6.0 1.0 5.0 0.5 4.0 0.0 2010 2011 2012 2013 2014 2015 2
Slide 52: Key Initiatives for 2018
Key Initiatives for 2018 Productivity improvements CIC columns to increase recovery (+ 3koz/y) Truck box modifications (Side boards & tail extension) + 4-6% volume mined Comminution upgrades (SAG liners, Expert system, etc.) Supply chain contract negotiations Implement a Behavior Based Safety
Slide 53: Strong Stakeholder and Government Relations
Strong Stakeholder and Government Relations 52
Slide 54: Surinamese Luncheon (PDAC 2018)
Surinamese Luncheon (PDAC 2018) 53
Slide 55: Economic Value for the Republic of Suriname
Economic Value for the Republic of Suriname Strong Supply Chain: 2017 ~ 55% (~$145M) of purchases with Suriname suppliers. Established business with over 350 suppliers. 54
Slide 56: Cost Optimization Initiatives – Supply Chain
Cost Optimization Initiatives – Supply Chain Created sustainable ~$23/oz AISC savings through various long-term agreements, such as: Sodium cyanide Contract labour Equipment Created one-time ~$26/oz AISC savings through various agreements, such as: Explosives contract OTR tires RC drilling 55
Slide 57: Mine Productivities
Mine Productivities RGM Drill Productivity (EHM/NOH) 28% increase in drill productivity in 25 24 terms of equivalent hard meters/NOH 23 compared to 2015, despite 75% 22 increase in hard rock drilling 21 20 19 Achieved highest ever EHM/NOH in Feb 18 and Mar 2018 17 16 15 Ongoing focus on optimi
Slide 58: Mine Productivities
Mine Productivities Hauling Unit Productivity (T/NOH) 250 240 4% Improvement in hauling unit productivity compared to 2015 230 220 Ongoing efforts to report and monitor TKPH 210 using Wenco and Outliers dashboards 200 190 6% payload increase in Cat 785’s and 4% 180 payload increase in Cat 777
Slide 59: Payload Impact – CAT 777 & 785 Trucks
Payload Impact – CAT 777 & 785 Trucks CAT 777 Transition Soft Rock Total With Sideboards 105.1 101.1 103.6 103.1 Without Sideboards 91.4 85.2 87.5 87.5 Delta 13.7 15.9 16.1 15.6 Increase 15.0% 18.7% 18.4% 17.8% 777 Trucks with sideboards have seen their payloads increase by 17.8% This would resu
Slide 60: 2017 Mill Initiatives and Improvements
2017 Mill Initiatives and Improvements Secondary crusher › Commissioning completed in Q1 › Mill feed size reduction 300mm to 75mm › Increased hard rock capacity ~20% ELRUS aggregate plant › Commissioning completed in Q2 › Increased aggregate capacity over old plant by 100% › Flexibility for mult
Slide 61: 2018 Mill Initiatives and Improvements
2018 Mill Initiatives and Improvements Carbon In Column (CIC) Installation at Tailings 2 pond › Commissioning early Q4 › To recover gold from reclaim transfer from tailings 2 to tailings 1 › Recovery rate of >3,000ozs / year for 3 years › 2022 moved to tailings 1 with recovery rate of >1,000 oz /
Slide 62: Saramacca Project Update
Saramacca Project Update Suresh, Kalathil
Slide 63: Rosebel – Saramacca: Consolidating Land Holdings
Rosebel – Saramacca: Consolidating Land Holdings Brokolonko Compilation Brokolonko 62
Slide 64: Project Introduction
Project Introduction Saramacca a significant brownfield and low-capex growth opportunity for Rosebel: maintaining soft ore feed to maximize mill throughput and revenue beyond 2019 50koz/yr at 2.0Mtpa – 3.0Mtpa over potential LOM of 10-12 years Exclusively saprolite feed for the first 4-5 years of
Slide 65: Geology
Geology September 2017 Resources1 › Indicated Resources 1,021koz (14,444 kt @ 2.20 g/t) › Inferred Resources 518koz 13,633 kt @ 1.18 g/t) 15,630 meters of infill drilling between January and April 2018 › New block model planned for Q3’2018 › Resources will be updated in Q3’2018 1 See IAMGOLD news
Slide 66: Current Status
Current Status ESIA submission to Government planned for July 2018 Phase 1 metallurgical testwork completed Phase 1 Geotech and hydrogeology completed Infill drilling completed in April 2018 Road detailed site investigation completed and engineering started Started camp engineering for constru
Slide 67: Saramacca Final Pit & Dump Design
Saramacca Final Pit & Dump Design Mining Haul Roads WASTE PILE #2 OPEN PIT WASTE PILE #1 Rom Pad Infrastructure Pad 66
Slide 68: Conceptual Pit – Cross Section
Conceptual Pit – Cross Section Topography Pit Design Pit Shell 25 (Selected Pit) 67
Slide 69: Infrastructure
Infrastructure Production road Field detailed investigation completed Basic engineering in progress Detailed engineering will start when investigation report received in May 2018 Camp expansion at Rosebel Need to add capacity for 140 people Detailed engineering in progress Construction planned to
Slide 70: Road Update
Road Update Geotechnical investigation completed March 2018 Geotechnical lab results expected early June 2018 Decision to cancel road segment from Mayo to RGM process plant (30 km to 21 km) based on selected equipment Construction package tender planned for August 2018 Planned construction
Slide 71: Project Timeline
Project Timeline Completed LOM NI 43-101 Results Completed Scoping study ESIA Approval By Nimos Start Mining Submit ESIA to NIMOS Complete Infill Start Haul Drilling # IAMGOLD Haul Road Road construction Construction Complete Award Long Haul Trucks Start Process Sampling Installation Infrastructure
Slide 72: Côté Gold
Côté Gold Philippe Gaultier
Slide 73: Côté Gold
Côté Gold Ontario (64.75%) Key accomplishments since acquisition in 2012 Attributable 64.75% Tonnes Grade Contained Ounces Completed Prefeasibility Study and initiated Feasibility Study (000) (g/t) (000 Au) Converted 5.9 Moz (100%) from resources to reserves Probable Reserves1 126,961 0.9 3,837 Po
Slide 74: Feasibility Study
Feasibility Study Key Changes from PFS Mill throughput increase of about 10%, 36 ktpd Automated truck haulage & production drilling as the Base Case Camp location modified Zero based design and cost estimates Various savings or capital deferment initiatives underway Study Engineer Wood G
Slide 75: Feasibility Drill Program (Completed March 2018)
Feasibility Drill Program (Completed March 2018) Objectives Infill drilling- resource/reserve upgrade Grade distribution in starter-pit area Condemnation drilling for planned infrastructure Provide Geological information – Updated Geology Model Supply additional geochemical analyses for De
Slide 76: Technology Strategy
Technology Strategy Objectives Apply proven technologies to reduce risk to personnel and enhance project economics Develop core competencies around technology deployment and operations, sustain through continuous improvement Leverage advanced skills and competencies to build valuable capacity
Slide 77: Plant, Power, and Infrastructure
Plant, Power, and Infrastructure Plant Increased plant capacity following optimization to 36ktpd Decreased footprint and volume by approximately 25% from PFS Optimized plant configuration and applied zero based design Power Supplied from HONI T2R line Shining Tree – 44km connection – aligned
Slide 78: Côté Gold Development Timeline - Permitting
Côté Gold Development Timeline - Permitting Yr 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Yr Qtr Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Qtr Draft EA EA to Ont. Prov. Process MoE EA Agreed Decision with Ont. Ammen
Slide 79: Côté Gold Development Timeline - Technical
Côté Gold Development Timeline - Technical Yr 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Yr Qtr Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Qtr 3rd IMG Last 1st IMG Resource Trelawney Resource Update Feasibility Study
Slide 80: Americas - Exploration Overview
Americas - Exploration Overview Craig MacDougall
Slide 81: Exploration Strategy is Working
Exploration Strategy is Working Heavy Lifting: Reduced annual exploration spend by over 60% or $90M/yr Rationalized and strengthened the exploration team Re-aligned and re-focussed the entire exploration portfolio Prioritized targeting to deliver resource ounces Accomplishments: 6 resource
Slide 82: IMG Attributable Reserve & Resource Additions
IMG Attributable Reserve & Resource Additions 40 Cote R&R Reserves +1.75Moz $1,300 / $1,500 $1,200 35 30 8.8 2012 -2017 Total Resources 6.3 6.7 25 7.0 6.1 + 5.3Moz Mined + 9.2Moz Resource Add’s 11.0 +14.5Moz 20 10.2 - 2.6Moz (Côté – SMM Sale) 13.3 15 12.8 15.8 15.5 4.6 Discovery Cost / oz = $1
Slide 83: Strategic Objective – Reserves & Resources
Strategic Objective – Reserves & Resources • Increase our Reserves to 14 Million oz. & maintain a minimum 12 year reserve base. • Measured, Indicated & Inferred resources (inclusive of Reserves) to be maintained at 2x Reserves. As at December 31, 2017 Achieved By 2022, IMG is targeting an increase i
Slide 84: 2018 Exploration Budget by Stage
2018 Exploration Budget by Stage Region / Site 2017 A 2018 B Variance % Total Budget Near mine MINEX - Capitalized Rosebel 4.0 7.2 80% 12% Essakane 3.1 3.6 16% 6% Westwood 3.5 4.6 31% 8% Subtotal 10.6 15.4 31% 26% 68% of 2018 budget allocated Suriname Brownfield Regional - Expensed + Capitalized (Sa
Slide 85: Saramacca: Infill Drilling Highlights
Saramacca: Infill Drilling Highlights Tonnes Grade Contained Ounces 100% Project Basis SMDD17-218 (000) (g/t) (000 Au) 15m @ 22.90 g/t Au Measured & Indicated1 14,444 2.2 1,022 Inferred1 13,632 1.2 518 N SMDD17-227 2018 Exploration Program 32.5m @ 2.28 g/t Au SMDD17-255 10.5m @ 22.48 g/t Au 10.5m @
Slide 86: Significant Infill Results
Significant Infill Results 31.5m @ 2.20 g/t 39m @ 3.47g/t NW SE 31.5m @ 1.88g/t Faya Bergi 6m @ 3.26g/t 10.5m @ 1.3g/t 46m @ 11.73g/t 200m 28.5m @ 3.85 g/t 39.0m @ 3.06 g/t 14.8m @ 2.91 g/t 6m @ 67.39g/t 21m @ 0.92g/t 34.5m @ 4.5g/t 15.5m @ 2.57g/t 32.5m @ 2.28g/t 13.5m @ 1.04g/t Brokolonko 200m 39.
Slide 87: Long Section Koloku “Good Fortune”
Long Section Koloku “Good Fortune” (looking NE) 1700NW 500NW Koloku 51.0m @ 2.61 g/t 14.0m @ 2.81 g/t 15.0m @ 0.89 g/t 200m 16.5m @ 1.43 g/t 14.0m @ 1.74 g/t 31.5m @ 3.74 g/t 22.0m @ 4.31 g/t Faya Bergi Koloku Brokolonko Background is all blocks >0.3 g/t Au 200m 86
Slide 88: Rosebel – Saramacca: Consolidating Land Holdings
Rosebel – Saramacca: Consolidating Land Holdings Brokolonko Compilation Brokolonko 87
Slide 89: Brokolonko Landscape
Brokolonko Landscape Nugget field with coarse Extensive small scale mining nuggets recovered in saprolite 88
Slide 90: Brokolonko Compilation
Brokolonko Compilation Soil Anomalies Largest: 800 x 250m Avg 0.39 g/t Au Nugget Fields SSM shaft 30m deep with drift on Qtz vn Background is WorldView 2 satellite image 1km 89
Slide 91: Monster Lake / Nelligan
Monster Lake Quebec (50% JV Interest) Ownership: 50:50 JV with TomaGold, with option to earn up to a Tonnes Grade Contained Ounces 100% Basis (000) (g/t) (000 Au) 75% interest 1 Inferred 1,110 12.1 433 Highlights: Completed 8.3km diamond drilling during Q1’18 › 40.94 g/t Au over 5.3m › 72.17 g/t A
Slide 92: The Monster Challenge
The Monster Challenge MONSTER LAKE STRUCTURAL CORRIDOR - Longitudinal Section MAIN SHEAR ZONE 214 213 aetgtau 220 {sA70EL- surface 2824gRAu 34m 284m 2.31gRAu /2.88m 22 224 cee e? e e 118tm | Syere e . se e 222 ° ee awe P1.319tAu ° e e ar O7' i8timy @ e ° 217 - 325-Megane natty ty e . Zone 223 23: me
Slide 93: Monster Lake – Discovery Potential
Monster Lake – Discovery Potential Megane1&2 325-Megane West Shoot Annie Erratix 7.8 g/t / 4.5m 46.3 g/t Au / 9.2m 20.2 g/t Au / 1.2m 237.6 g/t Au / 5.7m 51.0 g/t Au / 2.9m -350m ? -350m 325 Ore Shoot – located in the ‘Main Shear Zone’ Au g/t > 4 kms of favourable structure 0.5 to 1.0 1.0 to 3.0 3.0
Slide 94: Nelligan Maiden Resource by End of 2018
Nelligan Maiden Resource by End of 2018 N OPEN Grade Range Exploration Target Potential (1) 1 - 2 Moz @ 1.0 to 1.5 g/t Au (1) Refer to Exploration Target Potential cautionary language on slide 1 93
Slide 95: Pitangui / Eastern Borosi
Pitangui Brazil (100%) Highlights: Banded iron formation hosted deposit Tonnes Grade Contained Ounces (000) (g/t) (000 Au) 25km by road from Jaguar’s Turmalina mill 1 Inferred 5,365 4.7 819 Completed over 2.8km of diamond drilling to expand São Sebastião deposit in Q1’18 Continuing to test p
Slide 96: Pitangui Drill Hole FJG78: 9.73 g/t Au over 7.5m
Pitangui Drill Hole FJG78: 9.73 g/t Au over 7.5m sulphide Sulphide (Po-py-Asp) Banded Iron Formation 95
Slide 97: West Africa
West Africa Oumar Toguyeni
Slide 98: West Africa
West Africa Welcoming Mark Haywood as GM of Essakane, effective June 1, 2018 WEST AFRICA Essakane Sadiola Boto Gold Siribaya 97
Slide 99: Essakane Operations
Essakane Operations Oumar Toguyeni
Slide 100: Essakane Mine
Essakane Mine Located in the Sahel region of Burkina Faso, ~330km from capital city Ouagadougou Mining permit covers 100km2, valid to 2028 and renewable in 5 year terms Essakane Main Zone (EMZ) and Falagountou (East + West) Seven exploration permits cover 1,260km2 Mill powered by hybrid ther
Slide 101: Positive Trend in Health and Safety
Positive Trend in Health and Safety 100
Slide 102: Our Employees – Our First Resource
Our Employees – Our First Resource The Essakane Mine is one of the most important employers in Burkina Faso: 2,200+ Direct Jobs 96% national employees (37% from Sahel region and 13% living within 15km of Essakane) 257 female employees (11% of total workforce) Hundreds of indirect jobs created in th
Slide 103: World’s Largest Hybrid Solar/Thermal Plant
World’s Largest Hybrid Solar/Thermal Plant Commissioned in Q1’18 • 15MWp solar plant + 57MW thermal plant • Approximately 130,000 photovoltaic panels • Decrease fuel consumption by ~6 million litres per year • Reduce annual CO2 emissions by 18,500 tons 102
Slide 104: Gold Production
Robust LOM with Considerable Growth Potential 500 koz 400 koz Gold Production OPERATIONAL GROWTH GEOLOGICAL EXCELLENCE PROJECTS DEVELOPMENT 400 k @ $850 Heap Leach Regional Prospects 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 103
Slide 105: Key Drivers
Key Drivers Operational Excellence Land National Leverage Capture Management Development Security Plan Geological Growth +400koz @ Plan Plan Potential Opportunities $850/oz 104
Slide 106: Focusing on NAV Optimization
Focusing on NAV Optimization Regional Exploration 2016: Launch of the “+400,000oz* at $850/oz” program (Target) Aiming at reducing cost profile closer to the industry median Growth Initiatives Heap Leach Falagountou East & West Essakane Phase 6 & 7 Essakane North & South Essakane Deep & Underg
Slide 107: “+400,000oz at $850/oz” Program
“+400,000oz at $850/oz” Program Quarterly production & +400koz program results presented to employees by the GM Kaizen and Closed Projects celebrated Newsletter, MBA, Townhall meetings Communication Achievement of green belt certifications celebrated for 30 employees in 2017/2018 Celebration 784 emp
Slide 108: Decreasing Cost Profile
Decreasing Cost Profile AISC ($/oz sold) 140,000 1,250 120,000 1,200 1,150 100,000 Ounces sold AISC/oz 1,100 80,000 1,050 60,000 1,000 40,000 950 20,000 900 0 850 Ounces sold AISC/oz cumulated AISC/oz trend 107
Slide 109: Oxygen Plant
Oxygen Plant Expected process benefits Recovery increase by 0.5% Potential drop in cyanide addition by 10% Reduce preg-robbing negative effect Potential of throughput increase with faster gold leaching kinetics 𝟏 𝐑 𝝉 = 𝑹∞ 𝟏 − 𝟏 + 𝒌𝝉 k (h-1) R∞ Base Case 1,61 84,5% Expected…
Slide 110: Grinding Circuit Optimization
Grinding Circuit Optimization 2015 and 2016 program to improve grinding performance Objective: identify solutions to increase tonnage throughput over 650 tph/line Crushing and grinding circuit audit (survey) carried out with consultants while processing 100% hard rock Audit results used to sim
Slide 111: Carbon Fines Recovery and Treatment
Carbon Fines Recovery and Treatment Gold in carbon fines not recovered (13,000 ounces accumulated on-site) Generated carbon stocked on site Shipping out of the country not an option (Burkina Faso regulation) No infrastructure available to treat carbon fines locally Objective Improve fine carbo
Slide 112: Intensive Leach Reactor (ILR)
Intensive Leach Reactor (ILR) Increased gold recovery from gravity concentrates from 75-80% (shaking table) to 97-98%. Global recovery increased by minimum 0.5% Improved health and safety by eliminating arsenic gas during calcination of gravity table concentrates Low dissolution of arsenic in
Slide 113: Mill Production and Availability
Mill Production and Availability 20 100% 93.9% 19 92.0% 91.6% 91.4% 90.3% 89.9% 18 84.9% 90% 17 16 75.1% 80% 15 Line B 13.9 14 commissioned 14.79 70% 13 12.33 11.9 12.0 11.93 11.7 12 60% 10.8 10.6 11 11.65 Unit costs ($/t) 0.7 Tonnes (Mt) 10 10.73 1.1 10.76 50% 9.88 9 9.66 8.0 2.9 6.3 8 40% Availabi
Slide 114: Falagountou (East and West)
Falagountou (East and West) Satellite orebodies with attractive grades Located about 11km east of Essakane 493koz reserves @1.46g/t High grade saprolite improves mill recovery and hard rock grinding Extending Life-Of-Mine Comments on project delivery Delivered ahead of schedule and under budget
Slide 115: EMZ Final Pits @ $1,200/oz
EMZ Final Pits @ $1,200/oz Resource Limits 160 Zone Ore Waste Total Mt AU Koz CONT Mt Mt SR EMZ PH02 5.9 1.18 225 2.8 8.7 0.47 EMZ PH03 27.6 0.92 818 36.4 64.0 1.32 EMZ PH04 31.8 0.89 915 60.7 92.5 1.91 EMZ PH05 15.3 0.97 478 43.9 59.2 2.87 EMZ PH06 20.8 0.70 466 48.5 69.4 2.33 EMZ PH07 26.8 1.00 86
Slide 116: Mineral Reserve Waterfall
Mineral Reserve Waterfall 1 1See IAMGOLD News Release dated February 12, 2018 115
Slide 117: Essakane Heap Leach Project
Essakane Heap Leach Project Gord Stothart
Slide 118: Pre-feasibility Study Highlights
Pre-feasibility Study Highlights1 Successful infill program with higher grades than anticipated in several areas Probable Reserves increase of 39% to 4.7Moz Extend LOM by 3 years (2026) Average annual production increased by 16% to 480,000 ounces Peak annual production exceeding 500,000 ou
Slide 119: Essakane 2017-2018 Drilling Results
Essakane 2017-2018 Drilling Results Deep & Heap Leach drilling campaigns Mineral Resources upgraded Mineral Resources1 M&I: 5.1Moz and 0.6Moz as inferred Improvement of the geological and structural model Targeting area to improve confidence for Heap Leach project Collection of geometallurgical sa
Slide 120: Pit Optimization
Pit Optimization1 Gold price : $1,200/oz CIL recovery : 92% (Fresh) Heap Leach recovery : 55% Reserve Dec 2017 Cut-off 0.55g/t Mining cost Ore : $2.75/t (Fresh) Reserve Dec 2016 Waste : $2.55/t (Fresh) Cut-off 0.61g/t Heap Leach Final pit Incr. bench cost $0.0031/t per vertical metre Processing
Slide 121: Project Schedule
Project Schedule Geotech Production Study schedule Completed update Geotech Drilling Pathe 9 drilling start completed start EMZ drilling block model completed NI-43-101 Issued 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 Permit Approval Feas. study CAPEX estimate & Financial KPI) Detailed Enginee
Slide 122: West Africa - Exploration Overview
West Africa - Exploration Overview Craig MacDougall
Slide 123: Burkina Faso – An Emerging Gold Producer
Burkina Faso – An Emerging Gold Producer Essakane Project Hounde Belt Project Thion Project • Total endowment : 61 Moz • 30 occurrences greater than 1 Moz 4 New mines since 2010 4 Advanced projects 1 Mine under construction 122
Slide 124: Essakane Regional Potential
Essakane Regional Potential Dembam 2 7 exploration permits (1,093 km²) around the Takabangou Mine Lease, valid to November 2018 2017 activities concentrated around 15 to 20km Tin-Taradat from Essakane Mine pit Gossey 2 NIGER Exploration work developed on the following Tin-Zoubaratan Bom Kodjel
Slide 125: Gossey Prospect
Gossey Prospect Objective: Delineate M&I resources to add to the Essakane LOM. Complete a maiden resource estimate by Q4. First Phase (2017) Drill spacing : 50m x 50m Total meters: 15,358 meters Budget: $1.3 Million Second Phase (2018) Infill RC drilling program at grid spacing 50m x 25m Budge
Slide 126: Gossey Prospect
Gossey Prospect NW SE X-Section Line 17 500 100 meters LEGEND Gold Model Weathering PitShell 0.2<Au(g/t)<0.5 Saprolite Limit PitShell @ $1500 0.5<Au(g/t)<1 Au(g/t)>1 Transition Limit 2018 New RC Drill hole Location Map 125
Slide 127: Tin Taradat Prospect
Tin Taradat Prospect Objective Explore Markoye shear zone and check continuity of Gossey. Same structural setting as EMZ (Antiforme hinge) First Phase (2017) Mapping, rock sampling and drill test mineralization particularly on hinge of anticline 36 RC holes totaling: 2,980m. Mineralized intersec
Slide 128: Tassiri Prospect
Tassiri Prospect Location 15 km south of Essakane Mineralization Sheared Diorite Work conducted Rock sampling RC and DDH drilling Exploration Target Potential 150 - 200 Koz @ 1.0 - 1.4 g/t Au Resource evaluation 127
Slide 129: Opportunity - Boto Area Land Consolidation
Opportunity - Boto Area Land Consolidation Dalafin Earn in Option Stratex Dalafin First option: earn a 51% interest by spending $4M over 4 years Second Option: earn up to a 70% interest by spending a further $4M over 2 year Immediate exploration target: Madina Bafe initial HG 96m @ 1.51g/t drill res
Slide 130: Diakha-Siribaya
Diakha-Siribaya Mali (100%) Effective Dec 31, 2017 Tonnes Grade Contained (Diakha & Zone 1B) (000) (g/t) ounces Highlights: RPA (000 Au) Located approximately 10km south along strike Measured & Indicated1,2 2,102 1.9 129 from the Boto Gold Project in Senegal Inferred 19,816 1.7 1,092 19.5 km of
Slide 131: Diakha – Siribaya – 2018 Resource Update
Diakha – Siribaya – 2018 Resource Update 130
Slide 132: Re-seeding the Pipeline
Re-seeding the Pipeline 1 M ounce Au plus resource SSP Côté Feasibility Study Boto Gold <1 M ounce Au resource Saramacca Pre-feasibility Study Projects Pitangui-Saõ New Projects Sebastiaõ Scoping Siribaya-Diakha Monster Lake Medium Term: Gossey Jerome E. Borosi Initial Resource Sokadie Build Resourc
Slide 133: Boto Gold
Boto Gold Philippe Gaultier
Slide 134: Boto Gold
Boto Gold Senegal (100%) Pre-feasibility Study Highlights Tonnes Grade Contained Ounces Mine life of 13.5 years with mill throughput (000) (g/t) (000 Au) of 2.0Mtpa Probable Reserves1 26,841 1.64 1,415 LOM average annual production of nearly Measured & Indicated1,2 37,408 1.60 1,922 100,000 oz w
Slide 135: Feasibility Study
Feasibility Study Key Changes from PFS Mill throughput increase of 25%, 2.0 to 2.5 Mtpa Optimization of TSF staging and design Benchmarking with regional operations and manpower studies Continued metallurgical testing – optimize plant capital Various savings or capital deferment initiative
Slide 136: Plant, Power, and Infrastructure
Plant, Power, and Infrastructure Plant Increased capacity of plant following optimization, 2.5Mtpy Work into plant capacity staging of soft rock to improve output Integration of updated metallurgical test work as well as improve layout and flow sheet to reduce capital cost. Power Using firm
Slide 137: Boto – Development Timeline
Boto – Development Timeline Tentative Earliest ESIA Update Public Apply Env Delivery Env Board Construction Hearing Permit Permit Decision Start FS Geological Kick-off Model Year 2017 2018 2019 Month S O N D J F M A M J J A S O N D J F M A Sequence 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Slide 138: Concluding Remarks
Concluding Remarks Steve Letwin
Slide 139: 2018 – Abundance of Catalysts
2018 – Abundance of Catalysts 2018 Q1 Q2 Q3 Q4 2019 2020 2021 ✔ ✔ Saramacca Gold Essakane Heap Leach Saramacca Reserve Essakane Oxygen Saramacca Essakane HL Côté District Consolidation Pre-feasibility Study declaration Plant commissioning production production production ✔ Boto Pre-feasibility Sirib
Slide 140: Technical Information and Qualified Persons
Technical Information and Qualified Persons The mineral resource estimates contained in this presentation 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 supervision of the prepara
Slide 141: Notes
Notes IAMGOLD’
Slide 142: Investor Relations Contacts
Ken Chernin Laura Young Martin Dumont VP, Investor Relations Director, Investor Relations Senior Analyst, Investor Relations T: 416-360-4743 T: 416-933-4952 T: 416-933-5783 l TSX: IMG l NYSE: IAG l