Iamgold Corporation · TSX:IMG
Iamgold — Investor Day (November 2016)
156 slides from Iamgold's investor day presentation, Nov 23, 2016
Slide 1: Investor and Analyst Day
Investor and Analyst Day November 23, 2016
Slide 2: Agenda
Agenda – November 23, 2016 1:15 pm INTRODUCTIONS 1:30 pm OPERATIONS 3:00 pm EXPLORATION 3:30 pm QUESTION PERIOD 4:15 pm COCKTAIL HOUR
Slide 3: Cautionary Statement
Cautionary Statement 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 expectations or estimates of future performance, other than statements of historical fact, const
Slide 4: CEO Perspective
CEO Perspective – Steve Letwin
Slide 5: Management Participants
Management Participants OPERATIONS / EXPLORATION CORPORATE Operations Team Board of Directors Don Charter REGIONAL VPs Mahendra Naik Gilles Ferlatte – Americas Sybil Veenman Oumar Toguyeni – West Africa OPERATIONS – ESSAKANE, BURKINA FASO Bruno Lemelin – General Manager Executive Leadership Team Tid
Slide 6: Performance Checklist
Performance Checklist On track to meet 2016 production and cost guidance Achieve targeted ramp up schedule for Westwood mine Install secondary crusher at Rosebel Agreement to acquire Saramacca property in Suriname Get AGA / IAMGOLD board approvals for Sadiola Sulphides Start mining from Falagountou
Slide 7: Potential Production Pipeline
Potential Production Pipeline 1,200,000 1,000,000 800,000 600,000 400,000 200,000 0 2016 2017 2018 2019 2020 Essakane Rosebel Westwood Sadiola Oxide Sadiola Sulphide Potential Targeting AISC of $900-$950/oz by 2020 l TSX: IMG l NYSE: IAG l 7
Slide 8: Financial Review
Financial Review – Carol Banducci
Slide 9: Financial Highlights
Financial Highlights • Exceptionally strong balance sheet • Continuous improvement and disciplined financial management driving strong financial results • Q3/16 compared to Q3/15 Net earnings $17M, up $102M Revenue $282M, up $75M; higher gold sales drove 42% of the increase Operating costs dec
Slide 10: Net Cash from Operating Activities
Steady Growth in Operating Cash Flow in 2016 Net Cash from Operating Activities Average Realized Gold Price ($Millions) ($/oz) Average Realized Gold Price Operating Cash Flow The trend in operating cash flow is keeping pace with a rising gold price due to continued focus on cost management l TSX: IM
Slide 11: Capitalization
Well Capitalized Position (as at September 30, 2016) Capitalization $M Cash and cash equivalents (Excludes restricted cash) 627 Restricted Cash 123 Available Credit Facility1 168 LTD - senior unsecured notes 489 Shareholder’s Equity (incl. non-controlling interests) 2,270 Total Capitalization 2,759
Slide 12: Total Liquidity
Strongest Liquidity Amongst Intermediate Producers Intermediate Producers $900 $794 …with 80% cash & cash $167 equivalents $649 $600 Total Liquidity (US$ mm) $240 $437 $427 $150 $324 $627 $292 $300 $276 $200 $217 $150 $409 $74 $287 $151 $142 $143 $124 – IAMGOLD Eldorado Alamos New Gold B2 Gold Tahoe
Slide 13: Industry Leading Leverage Multiples
Industry Leading Leverage Multiples Senior Producers Intermediate Producers 2.5x 2.6x Yamana New Gold 2.1x 2.1x 2.0x 1.4x Goldcorp B2 Gold 1.7x 1.0x 2.1x 2.9x Barrick Eldorado 1.5x 0.9x 1.4x Kinross 1.5x Detour 0.8x 0.8x 1.7x 2.0x Newmont Alamos 0.7x 0.1x 1.3x 0.1x Agnico Tahoe 0.5x nmf 1.5x 1.5x IA
Slide 14: Operational Overview
Operational Overview – Gord Stothart
Slide 15: Operations Organizational Structure
Operations – Organizational Structure l TSX: IMG l NYSE: IAG l 15
Slide 16: 2016 Outlook for Production & Costs
2016 Outlook for Attributable Production & Costs Cumulative Attributable Production 900 Outlook • Near the high end of 2016 attributable production guidance Attributable Production (000 oz) 800 700 range of 770,000 to 800,000 oz 600 • Lowered 2016 total cash costs1 guidance range to $740 to 500 $770
Slide 17: Geographically Diversified Asset Base
Geographically Diversified Asset Base* NORTH AMERICA Westwood Côté Gold Monster Lake Nelligan CENTRAL AMERICA Eastern Borosi SOUTH AMERICA Rosebel Pitangui Americas – Gilles Ferlatte Gold Mine Development Project * Attributable basis. Advanced Exploration l TSX: IMG l NYSE: IAG l 17
Slide 18: Westwood
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Slide 19: Westwood Progression
Westwood Progression 2017 • Production to 2016 double vs 2016 • Operational • High 2015 objectives expectations to largely achieved be met 2014 • Seismicity halts progress but • Significant • Commercial allows strategic progress 2008-2013 Production improvements towards ramp- up • Project • Implemen
Slide 20: 2016 Successes
2016 Successes • Key Health, Safety & Sustainability results better than budget • Production ahead of budget; on track for development target • Cost targets achieved • Success in resource conversion objectives • $50M investment from Investissements Québec • Sustainable cost reductions through negoti
Slide 21: Westwood Development – Q3'16 Progress Update
Westwood Development – Q3’16 Progress Update Key Performance Indicators YTD Target YTD Actual Variance No lost time DART Rate* 3.30 0.8 -75% incidents Safety or injuries TRIR+ 8.8 8.0 -9% Underground lateral development 16,684 16,899 1% Development (m) Underground vertical development 3,080 2,138 -3
Slide 22: Development Update: Re-opening
Development Update: 104 Re-opening All by-pass drifts complete, all rehabilitation zones accessible 15 vehicles recovered (value of = $4.5 M CAD) All damaged areas inspected by external consultant Final rehabilitation and backfill sequences in progress Analysis of mining sequence in progre
Slide 23: Development Update: Rockbreaker/192 Loading
Development Update: 180 Rockbreaker/192 Loading Project Scope: › Loading 192 › Rockbreaker #1 & #2 on level 180 › Rockbreaker #3 on top of ramp on level 192 › Casing Orepass #1 between levels 180 and 192 Commissioning loading Q4 2016 Allows greater development capacity from 156 and 180 horizon
Slide 24: Development Update: Rockbreaker/192 Loading
Development Update: 180 Rockbreaker/192 Loading 180 Rockbreaker #2 Orepass Casing 192 Conveyor l TSX: IMG l NYSE: IAG l 24
Slide 25: Development Update: Battery Scoops
Development Update: Battery Scoops Extensive testing program in place prior to selection › 2014: 1 prototype tested › 2016: 3 models tested (different suppliers) › Next test scheduled Q4 2016 Key selection criteria: › Charge life and recharge process › Reliability › Efficiency › Ease of operatio
Slide 26: Westwood Strategy Overview
Westwood Strategy Overview 2017 2020 5 Year • Full, sustainable production; Vision • Advance strategic plan and maximum profitability • Ramp-up Complete priority projects for each of the four pillars of the vision • Infrastructure development for Mining Blocks 3 and 4 • Construction of Block 5-6 • C
Slide 27: 2017 Strategic Priorities
2017 Strategic Priorities Labour Sustainability Resources Operations • Rigorous and • Continue • Resource • Develop proactive labour deposition plan conversion communications management for waste and • Revise mining network strategy • Reinforcement of tailings strategy for new and plans H&S culture,
Slide 28: 2017 Production Plan Summary
2017 Production Plan Summary Production from Blocks 1 and 2 Reopening of 104 mining area Infrastructure and development in blocks 3 and 4 Diamond drilling begins below 180-level (Blocks 5-6) l TSX: IMG l NYSE: IAG l 28
Slide 29: Westwood Potential
Westwood Potential Westwood has significant resource potential undrilled in existing mining blocks, at depth and to the west Development completed in 2016 and scheduled for 2017 is essential to Westwood ramp-up and expansion plans › Diamond drilling rate increases in 2017 with available infrastr
Slide 30: Rosebel
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Slide 31: Operations Layout
Operations Layout l TSX: IMG l NYSE: IAG l 31
Slide 32: Foundation of Rosebel Strategy
Foundation of Rosebel Strategy Business Objectives Achieving excellence through Operations & Improvement initiatives Improving operating efficiency and reducing unit operating costs through optimization of key value Life of Mine (LOM) Plan drivers: Cost Optimization Zero Harm (HSE) Improvement Produ
Slide 33: DART & TRIR 2016 YTD
DART & TRIR 2016 YTD 1.60 1.42 1.40 1.20 1.00 0.79 0.80 0.75 0.60 0.60 0.44 0.46 0.40 0.39 0.29 0.20 0.00 0.00 Q1 Q2 Q3 Q4 DART Rate TRI Rate DART Target TRIR Target l TSX: IMG l NYSE: IAG l 33
Slide 34: Objectives
Objectives Focusing on ZERO HARM, empowering people, operational excellence and building on stakeholder relations to maximize operating margin Transitioning from Continuous Improvement to Sustainable Business Excellence Step-Change Innovation – Significant departure from business-as-usual proc
Slide 35: Strategic Imperatives and Outcomes
Strategic Imperatives and Outcomes Strategic Imperatives Outcome 1. Engineered Stockpile 1. Stable process parameters and plant performance 2. Reverse Circulation Drilling 2. Reduce per unit operating costs 3. Mill Optimization initiatives 3. Reduce grade variation and increase confidence a. Solutio
Slide 36: 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 the current gold price environment Innovation • Apply innovation where possible to generate superior return Positioning for the futur
Slide 37: Priorities
Priorities Mine operations optimization Mill throughput model optimization Grade control Covert to 8 meter benches, rather than 5/6meter Six Sigma implementation Workforce and community engagement Exploration → Near Mine: Saddles, East Roma → Regional Exploration: Saramacca, Sarafina,
Slide 38: 2017 Key Opportunities
2017 Key Opportunities 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 Enhanced Business Parts management Intelligence (BI) Systems
Slide 39: Operating Cost Trend
Operating Cost Trend 350.0 7 300.0 273 278 6 252 252 243 250.0 227 5 $/Tn milled or mined 200.0 4 150.0 3 $M 100.0 2 50.0 1 - 0 2011A 2012A 2013A 2014A 2015A 2016F G&A Cost 32.3 36.1 41.3 31.7 29.9 25.2 Power Cost 35.9 39.1 22.8 32.9 24.7 26.5 Milling Cost 51.2 55.2 65.3 64.4 60.8 58.9 Mining Cost 1
Slide 40: Continued Reduction of Mine Costs
Continued Reduction of Mine Costs: 15% below 2013/2014 Continued reduction in mining costs by approx. $0.28/t Almost $0.20/t of reduction due to lower fuel costs Partly offset by +$0.15/t due to RC Drilling $0.23/t improvement due to productivity initiatives l TSX: IMG l NYSE: IAG l 40
Slide 41: Capital Costs
Capital Costs 160.0 Milestone 1 – Milestone 3 – Milestone 4 – 2012/2013: Solar plant and TSF 2014/2015: Ball Mill 3: $47M expansion 8 777 HTs, 2 6030 LU’s 140.0 6 MD6290 Drills, 6 D9’s 120.0 Milestone 5 – Secondary 100.0 crusher: $14M 80.0 60.0 40.0 Milestone 2 – 2012/2013: 20.0 18 785 HTs, 3 6030 L
Slide 42: Drilling & Loading Performance
Drilling & Loading Performance (2015-2016 YTD) 22 Drill Productivities (EHM/NOH) 21 • 5.3% improvement in drill productivities compared 20 to same period of 2015 19 21.3 20.7 • Proper pattern sequencing and equipment 20.2 20.1 20.0 19.9 19.7 19.7 18 19.5 19.3 19.2 19.1 19.1 19.0 scheduling resulted
Slide 43: Blasting Performance
Blasting Performance (2015-2016 TYD) Tonnes Blasted 70 x 100000 60 • Total tonnes blasted is 8.6% above the budget 2016 50 40 • Optimization of Drill & Blast designs to obtain higher 65 30 yield/meter without compromising post blast results 53 53 53 51 48 47 46 45 45 44 44 43 43 41 20 › Drill patter
Slide 44: Drilling & Blasting Cost
Drilling & Blasting Cost (2015-2016 YTD) $0.40 Total Blasting Cost ($/T) • 32% reduction in average blasting cost ($/T) compared to the $0.35 budget. $ 3.78M variance compared to budget even after blasting additional 8.6% $0.30 $0.25 • Trials are planned to further control costs $0.37 $0.20 $0.36 ›
Slide 45: Loading & Hauling
Loading & Hauling (2015-2016 YTD) $0.14 Loading ($/Tonnes Moved) $0.12 • 20% reduction in average loading cost compared to same period in 2015 $0.10 $0.08 • Major contributors include: $0.13 › ~7% higher loading unit productivities compared $0.12 $0.11 $0.11 $0.06 $0.11 $0.10 to same period in 2015
Slide 46: Cost Optimization
Cost Optimization Avg. Tire hours 2012 - 2016 YTD 6,000 5,408 Cost reductions across Tire life (hours) 4,639 4,749 5,000 4,239 operations, including: 4,137 3,759 3,520 3,756 4,000 3,167 3,000 Tire life 2,000 2012 2013 2014 2015 2016 Powder factor 777 3,167 3,759 3,520 3,756 4,137 785 4,639 4,2
Slide 47: Gold from Hard Rock: 2013 to Present
Gold from Hard Rock: 2013 to Present Negative variance between mill and mine became pronounced in Q3 2013 Stabilization in H2 2014 May 2015 (ROM stockpile & increased BMM usage) = improvement & stabilization l TSX: IMG l NYSE: IAG l 47
Slide 48: Dilution Management Methodologies
Dilution Management Methodologies BMM + Standup blast Blast design and requirements are Segregation decided by size and shape of ore packets › Uniform movement along the strike › Reduce movement in ore shoots › Segregation of ore from Waste Ore Irregular shape ore bodies using blast movement mon
Slide 49: Workforce Rationalization
Workforce Rationalization 1,400 80.0 1,200 70.0 63.5 63.6 61.4 61.8 Number of Employees 57.2 Tonnes mined (M) 53.1 60.0 1,000 990 973 983 937 50.0 800 825 40.0 696 600 492 487 459 460 449 30.0 426 400 20.0 200 10.0 74 74 65 70 50 43 0 - 2011A 2012A 2013A 2014A 2015A 2016A Sept Hourly Staff Expat Ton
Slide 50: Productivity Per Employee (Tonnes Mined)
Productivity Per Employee (Tonnes Mined) Tonnes Mined per Man-hour 70 16.0 60 14.0 13.2 13.5 12.4 12.0 50 11.5 10.5 PER MAN/HOUR TONNES MINED 10.2 10.2 TONNES MINED 10.0 (MILLIONS) 40 8.0 30 61 63 64 57 52 53 6.0 47 20 4.0 10 2.0 0 0.0 2010 2011 2012 2013 2014 2015 2016 (sept) 2010 2011 2012 2013 20
Slide 51: Productivity Per Employee (Tonnes Milled)
Productivity Per Employee (Tonnes Milled) Tonnes Milled per Man-hour 14 2.8 12 2.7 2.7 10 2.6 PER MAN/HOUR TONNES MILLED TONNES MILLED 2.5 (MILLIONS) 8 2.5 2.5 2.5 13 13 12 13 6 12 12 2.4 2.4 2.4 9 4 2.3 2.3 2 2.2 0 2.1 2010 2011 2012 2013 2014 2015 2016 (sept) YEARS Total Tonnes Milled Tonnes Mille
Slide 52: Grinding Circuit Milestones
Grinding Circuit Milestones Sept 2015 January 2016 March 2016 April 2016 May 2016 Nov 2016 Dec 1, 2016 • SAG – complete • Project • Powerflex • SAG – change to • SAG Liners – • Commissioning • 7’ Secondary orders to replace engineering Drive 140mm media 30 row liners complete Crusher current media w
Slide 53: 2017 Mill Optimization (Phase 1)
2017 Mill Optimization (Phase 1) Base case - 1SAG + 3BM LCI Drive 6.9Mtpa at 90% Hard Rock PowerFlex – Increased torque = +5% HR 7.5Mtpa at 90% Hard Rock – March 2016 30 row SAG shell liner installation = +5% 8.0Mtpa at 90% Hard Rock – May 2016 Secondary Crusher installation = +10% 9
Slide 54: Secondary Crusher – Current Status
Secondary Crusher – Current Status December 2016 * 2017 in service TRANSFER TOWER / CRUSHER Ahead of schedule and on cost Crusher was handed over to operations in mid-November and roles and responsibilities were established for a smooth handover l TSX: IMG l NYSE: IAG l 54
Slide 55: 2017 Mill Optimization (Phase 2)
2017 Mill Optimization (Phase 2) SECOND STAGE PEBBLE CRUSHING January 2018 – 2nd pebble crusher installed Phase 2 Pebble crusher optimization to be determined following operation with phase Pebble Crush #1 CV6 1 complete Maintain current installation Increase capacity with single stage CV4 cru
Slide 56: 2017 Mill Optimization (Phase 3)
2017 Mill Optimization (Phase 3) TERTIARY GRINDING June 2018 Phase 3 Ball Mill 1 Convert secondary grinding to include tertiary grinding SAG discharge to Ball Mill 3 Ball Mill 3 to Ball Mills 1 & 2 Trash Screen Ball Mill 2 SAG CV3 Thickener Ball Mill 3 l TSX: IMG l NYSE: IAG l 56
Slide 57: Comminution Optimization Phases 1, 2 & 3
Comminution Optimization – Phase 1, 2 & 3 POTENTIAL GAINS 20 % increase in hard rock capacity – 9Mtpa at 90% HR vs 7.5Mtpa >5% reduction in media consumption >5% reduction in cyanide consumption = reduced unit costs = reduced unit power consumption = increased gold production l TSX: IMG
Slide 58: 2016 Achievements
2016 Achievements 94% overall plant availability 94% recovery → Cyanide addition strategy and feed management being main contributors Costs → Mill has seen significant forecast cost reductions for 2016 including Grinding media – $2M – continued focus on expert system optimization and seconda
Slide 59: Exploration Pipeline
Exploration Pipeline RGM exploration Concession RGM Option Agreement Gross Rosebel Exploitation Concession Near mine exploration – Several exploration targets in and around Overman – Existing inferred resource of 8.2 current pits. Drilling ongoing and Mt @ 1.0g/t Au – 276koz (December 2015 planned i
Slide 60: Gross Rosebel: Near Pit Exploration - North Trend
Gross Rosebel: Near Pit Exploration - North Trend North trend Koolhoven J-Zone West Apex area Exploration target direct and indirect ounces P1 J-Zone East West Pay Caro Pay Caro 1km 2 Moz Au mined to date East Pay Caro Caution: All exploration targets are East Pay Caro saddle: conceptual in nature E
Slide 61: Gross Rosebel: Near Pit Exploration - South Trend
Gross Rosebel: Near Pit Exploration - South Trend South trend Royal Hill: Exploration target Roma: Exploration target P2 P2 Advanced Project Caution: All exploration targets are conceptual in nature Inactive Pit Pit in production Rosebel in-pit exploration and extensions: Exploration Target Saddle P
Slide 62: Near Pit Exploration – Royal Hill Cross Section
Near Pit Exploration – Royal Hill Cross Section Looking East Existing pit Royal Hill NW Royal Hill SE Final pit Existing pit Final pit Saddle targets and extensions target: P2 Testing potential at depth in the saddle between the NW & SE pits; does the mineralization link-up? 400m Caution: All explor
Slide 63: Near Pit Exploration – Roma Pits
Near Pit Exploration – Roma Pits Current drilling Recent drilling Roma West Pit Roma East Pit design Roma: Exploration target P2 South trend 1km Caution: All exploration targets are conceptual in nature l TSX: IMG l NYSE: IAG l 63
Slide 64: Côté Gold
Cdoté Gold Gilles Ferlatte
Slide 65: Regional Infrastructure
Regional Infrastructure Highway 144 • Conceptual pit is 6 km off all weather highway Mining Centres • Timmins 144km • Sudbury 175km Canadian National Railway • In Gogama 25km • Existing rail siding 115kV power from Shining Tree sub- station • Tap Line 44km • Could supply 70MW from the north
Slide 66: Regional Geology
Regional Geology Timmins West 139,000 oz (2015) Bell Creek – 39,700 oz (2015) Alamos Gold Young-Davidson Mine 160,353 Oz in 2015, Est 170,000- 180,000 Oz in 2016 15 years mine life Goldcorp Projects Juby (Tahoe Resources) 122.8Mt @1.017 g/t (4 m Oz.) Borden (GoldCorp) - Young-Davidson 8.87 Mt @ 6.0
Slide 67: Resource Drilling
Resource Drilling 50 x 50m hole spacing 25 x 25m hole spacing l TSX: IMG l NYSE: IAG l 67
Slide 68: Côté Gold – Evolved Resource Estimate
Côté Gold – Evolved Resource Estimate* Quantity Grade Au Metal Quantity Grade Au Metal (Mt) (g/t Au) (Koz) (Mt) (g/t Au) (Koz) Trelawney 35.0 0.82 930 204 0.91 5,940 IMG 289.2 0.90 8,354 66.9 0.60 1,174 Since IAMGOLD’s acquisition in 2012: Indicated resources have increased by ~7.4Moz Average gr
Slide 69: Grade-Tonnage Curve
Grade – Tonnage Curve 289Mt @ 0.9 g/t Au (8.4Moz) 190Mt @ 1.14 g/t Au (7.0Moz) Resource not very sensitive to cut-off grade l TSX: IMG l NYSE: IAG l 69
Slide 70: Environmental Studies On-going
Environmental Studies On-going Currently awaiting a provincial Environmental Assessment Decision by the end of 2016 The Federal Minister of the Environment & Climate Change stated in May 2016 that the project is not likely to cause signifiant adverse environmental effects AMEC Foster Wheeler h
Slide 71: Modifications to Plan Underway
Modifications to Plan Underway Main differences under consideration: TMF location and disposal approach Watercourse realignments Removed tailings pipeline 7.9km Relocated camp to facilitate emergency access while minimizing operating traffic congestion Increased stockpile from 7mt to 30mt
Slide 72: Community Relations
Community Relations • IAMGOLD has actively engaged local and regional communities, as well as other stakeholders, to gain a better understanding of their issues and interests, identify potential partnerships and to ultimately secure social licence to operate • The range of stakeholders is expected t
Slide 73: Aboriginal Communications
Aboriginal Communications • Based on federal and provincial advice and information gathered through engagement activities, the following groups have been consulted about the project: Algonquin Anishinabeg Nation Tribal Council Chapleau Ojibwe First Nation Brunswick House First Nation Abitibiwinni Fi
Slide 74: Conclusions
Conclusions Regional Infrastructure – highway access, power, railway siding & proximity to major mining centres reduces working capital Labour - lower due to CAD$ against USD$ & manpower readily available as regional mines reach end of mine life Geology – large intrusion-hosted deposit Geote
Slide 75: Geographically Diversified Asset Base
Geographically Diversified Asset Base * WEST AFRICA Essakane Sadiola Boto Gold Siribaya West Africa – Oumar Toguyeni Gold Mine Development Project * Attributable basis. Advanced Exploration l TSX: IMG l NYSE: IAG l 75
Slide 76: Essakane
Essakane Bruno Lemelin
Slide 77: Continuous Improvement – Guiding Principles
Continuous Improvement – Guiding Principles To further increase free cash flow generation and extend the LOM, Essakane has set a strech target of +400 000 ounces at an AISC of $850/oz Each initiative must: › Contribute to cost efficiently debottlenecking the entire value chain › Not have a negat
Slide 78: Major Achievements for 2016
Major Achievements for 2016 YTD DART of 0.10 vs 0.16 in 2015 (YTD Oct) Launch of the ‘+400,000 oz at AISC $850/oz’ initiative Falagountou East technical-economical analysis submitted to Ministry of Mines Renewed partnerships with newly elected officials Gold production above budget by 9,25
Slide 79: Life-of-Mine: 400k + Strategy Recovery
Life-of-Mine: 400k + Strategy Recovery Current Status 2017 2018+ 90.07% Recovery 90.68%+ Recovery 90.88%+ Recovery By pass leach tank to Transform leach tanks reduce graphite Oxygen addition to CIL to CIL negative impact Impact of TTP water Increase elution return (preg robbing) recovery and mitigat
Slide 80: Intensive Leach Reactor Plant Project
Intensive Leach Reactor Plant Project Operations Results › Gold recovery from gravity concentrates 1.2 1.0 • 75-80% using shaking tables 0.8 • 99.3% on average with ILR - systematically Arsenic (%) above 98.5% 0.6 › Arsenic content in gold bars 0.4 • Well below the limit of 0.5% when ILR is used 0
Slide 81: Intensive Leach Reactor Project
Intensive Leach Reactor Project VUE ISOMÉTRIQUE ARRIÈRE ECH 1:100 DESSIN RÉFÉRENCE N/A PROJET/SECTEUR / TYPE / DESCRIPTION DESSINÉ PAR ÉCHELLE NO. PROJET DISCIPLINE REV. DATE DESCRIPTION PAR APP. DONALD GNANOU INDIQUÉE P0345 ACHITECTURE 0 2016-01-07 ÉMIS POUR CONSTRUCTION DG ML INTENSIVE LEACH REACT
Slide 82: Carbon Fines Recovery and Treatment
Carbon Fines Recovery and Treatment Operation Results 100% Leached Ash Gold › Carbon mass reduction in the incinerator 90% Recovery (%) • Average reduction is 82% 80% • Values over 90% were obtained; tests are 70% ongoing to increase the mass reduction › Recovery of the leached ash : 60% • Average
Slide 83: Fine Carbon Treatment System
Fine Carbon Treatment System l TSX: IMG l NYSE: IAG l 83
Slide 84: Reconciliation Factors Summary
Reconciliation Factors Summary Final 2015 Reconciliation Better YTD 2016 F1 & F3 Factors (grade & ounces) compared to 2015 due to: Changes in the interpolation parameters of grade control model Density adjustments YTD Sept. 2016 Reconciliation Improvements to grade control practices l TSX: IMG l N
Slide 85: Growth Option – Heap Leach
Growth Option – Heap Leach Why Heap Leaching at Essakane ? • Provide additional ounces at low CAPEX • Essakane contains significant non-economic low grade (COG are 0.60 g/t) • Possibility to extend the LOM (New Whittle assumption) • May decrease pressure on crusher and mill (OPEX) → Must test the
Slide 86: Heap Leach Test Project Timeline
Heap Leach Test Project Timeline 2016 - Pursue lab testwork & initiate scoping study 2017 - Start small-scale pilot test of 2,500 t if positive results returned 2018 - Start large scale pilot test for 1.5 Mt if positive results continue. › Pilot test would generate cash flow to finance further studi
Slide 87: Growth Option – Falagountou East
Growth Option – Falagountou East Falagountou East has significant potential to host low-cost, near-surface, high-grade saprolite ore New drilling program is expected to provide additional short-term saprolite and transition resources The immediate north extension is actively mined by the local
Slide 88: Falagountou East – Final Footprint
Falagountou East – Final Footprint l TSX: IMG l NYSE: IAG l 88
Slide 89: Drilling Projects
Drilling Projects EMZ Deep Drilling Essakane 3 EMZ South 2 Falagountou East 1 2017 drilling projects in soil anomalies and structural trends l TSX: IMG l NYSE: IAG l 89
Slide 90: Sadiola
Sadiola Oumar Toguyeni
Slide 91: Sadiola- Mali (41%)
Sadiola- Mali (41%) Sadiola’s Historical Gold Production1 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 1 On a 100% basis. l TSX: IMG l NYSE: IAG l 91
Slide 92: Sadiola Sulphide Expansion Project
Sadiola Sulphide Expansion Project Project Highlights Intend to move ahead by year-end conditional upon partner AngloGold Ashanti’s decision to proceed and renewal of construction and operating permits, power agreement and fiscal terms relating to the project Currently refining project economics
Slide 93: Sadiola Sulphide Expansion Project – Economic Assumptions
Sadiola Sulphide Expansion Project – Economic Assumptions 1 Main Economics Parameters for Pit Optimization Gold price (P) US$/oz 1,200 Tax and Royalty Assumptions: Long term oil price US$/bbl 75 Site diesel price US$/litre 0.83 30% as per the mining convention between SEMOS Tax and the Government
Slide 94: Exploration Review
Exploration Review
Slide 95: Exploration Department
IAMGOLD CORPORATION EXPLORATION DEPARTMENT Senior Vice President, Exploration Craig MacDougall Exploration Administrator Rose Valle-Mena GLOBAL EXPLORATION CORPORATE General Manager Director Exploration Canadian Shield & Chief Geologist Brownfields Exploration New Opportunities Exploration Manager E
Slide 96: Exploration Vision and Mandate
Exploration Vision and Mandate Brownfields Discover satellite deposits and deposit extensions to enhance and extend existing operations (Essakane, Rosebel, Sadiola – Oxide) Greenfields Discover or acquire undeveloped gold deposits capable of producing +100koz of gold (or gold equivalent) per yea
Slide 97: IAMGOLD Resources: M&I and Inferred
IAMGOLD Resources: M&I (excl. 2P Reserves) and Inferred M&I resources have increased by 11.2 Moz since 2012 25,000 20,000 6,733 6,299 7,018 15,000 10,000 10,990 15,793 13,281 12,804 5,000 4,600 0 2012* 2013 2014 2015 M+I (excl) Inf. 2012*: reflects Côté Gold as at acquisition June 2012 Source: IMG R
Slide 98: Development & Resource Projects >0.5 Moz
Development & Resource Projects >0.5 Moz North America, South America, West Africa, & Europe (n = 359) 20 Westwood Brucejack 11 g/t Au Exploration Yaramoko 10 Monster >12 g/t Au IMG Mineral Ellipse Resources = 75% of deposits Exploration 5 M+I Resources: 23.5Moz Major axis = 1.1 g/t Au@ 1.2 g/t Au M
Slide 99: Americas
Americas
Slide 100: Saramacca, Suriname - Option Agreement
Saramacca, Suriname - Option Agreement Initial Cash Payment USD$200,000 on signing • Provides access to the property Staged Purchase Totaling USD$10 million and 3.125 million IAMGOLD shares • Held in escrow and released over 3 x 1 year intervals • Price Adjustment based on gold oz above 1.0 Moz
Slide 101: Saramacca Prospect – Small Scale Mining
Saramacca Prospect – Small Scale Mining Small scale mining appears to be limited l TSX: IMG l NYSE: IAG l 101
Slide 102: Historical Drilling – Selected Results
Historical Drilling – Selected Results on Auger Geochem Note: Historical results have not been verified and should not be relied upon GMDH-061 22.0m at 10.71 Au g/t GMDH-038 13.50m at 4.72 Au g/t 5.50m at 8.20 Au g/t 9.00m at 0.90 Au g/t GMDH-013 12.02m at 6.52 Au g/t 24.00m at 1.46 Au g/t GMDH-039
Slide 103: Exploration Plan
Exploration Plan Data Package Environment Geophysics and geochemistry Base line soil sampling of artisanal pits reprocessed and interpreted commenced prior to drilling 3D deposit models created Base line water sampling commenced prior to Additional targets identified drilling Drillin
Slide 104: Planned Drilling 2016
Planned Drilling 2016 Historical Drilling 90 diamond drill holes (9,000m) 2016 Planned Drilling 54 DDH - infill holes (9,000 m) 77 RC - Exploration (9,000 m) Footwall, hanging wall and geochemical footprint RC drill pattern Historical Geochemistry Au ppm 100m x 50m diamond drill pattern l TSX: IMG l
Slide 105: Saramacca Cross Section – 500NW
Saramacca Cross Section – 500NW planned GMDH-036 planned 12.00m at 7.54 Au g/t 12.00m at 8.22 Au g/t 11.65m at 0.69 g/t 16.97m at 2.66 Au g/t planned 21.53m at 0.89 Au g/t Saprolite = ~100m thick 500NW Caution: Drill holes and assay results are previous explorers and cannot be considered NI43-101 co
Slide 106: Breccia – Qtz Stockwork – Assays Pending
Breccia – Qtz Stockwork – Assays Pending l TSX: IMG l NYSE: IAG l 106
Slide 107: Geophysics and Geochemistry
Geophysics and Geochemistry Airborne Potassium Gold Geochemistry Tigri Tigri No Previous Drilling Anomaly M Anomaly M K-Anomaly 4km Gridded Au from DD and DA K anomaly SW of mineralized trend indicative of hydrothermal alteration l TSX: IMG l NYSE: IAG l 107
Slide 108: Exploration Potential
Exploration Potential Saramacca Deposit Poorly tested Parallel IP Trend l TSX: IMG l NYSE: IAG l 108
Slide 109: Monster Lake - Quebec
Monster Lake - Quebec l TSX: IMG l NYSE: IAG l 109
Slide 110: Monster Lake - Quebec (Earn-in option with TomaGold)
Monster Lake - Quebec (Earn-in option with TomaGold) High-grade 325-Megane Zone extends at depth High-grade intervals from historical exploration (25-30 g/t Au) Completing geological and structural mapping and selected geochemical and geophysical surveys in advance of follow-up drill program e
Slide 111: Monster Lake – Megane Zone – Drilling Highlights
Monster Lake – 325 Megane Zone – Drilling Highlights - Historic & IAMGOLD ML-14-119 ML-14-117 Area of More Recent Drilling ML-12-57 M-25-11 101.2 g/t Au / 4.5m ML-16-171 ML-16-179 6.79 g/t Au / 0.42m 5.33 g/t Au / 2.35m ML-14-130 0.96 g/t Au / 3.78m M-13-99 ML-14-132 20.16 g/t Au / 1.21m ML-15-147 3
Slide 112: Monster Lake – High Grade Gold Mineralization
Monster Lake – High Grade Gold Mineralization 325-Megane Main Zone VG Shear zone hosted smokey grey to black quartz veining with coarse visible gold 11 2 l 112 l TSX: IMG l NYSE: IAG
Slide 113: Monster Lake – Drill Targets
Monster Lake – Drill Targets 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 ML-15-147 325 Ore Shoot – located in the ‘Main Shear Zone’ ML-14-110 13.65g/t Au over 3.26 t.w. including 46.17 g/t
Slide 114: Nelligan - Quebec
Nelligan - Quebec Before After l TSX: IMG l NYSE: IAG l 114
Slide 115: Nelligan – Quebec (Earn-in option with Vanstar Mining)
Nelligan – Quebec (Earn-in option with Vanstar Mining) Located 15 km south of Monster Lake within a major deformation corridor with other Au showings Interest prompted by new discovery - the Liam Zone In 2016 announced new discovery north of Liam; 2017 drilling program to follow Total Field Ma
Slide 116: Nelligan – Potential Targets
Nelligan – Potential Targets New Discovery in North Sector Underexplored area New Discovery – North Sector Wide zone of alteration and mineralization Open Open along strike and width to northern structural corridor (i.e. +1,000m) 2017 Objective – follow up on north sector that is open along
Slide 117: Nelligan – Results of Drilling Program
Nelligan – Results of Drilling Program 2.13g/t Au 3.20g/t Au/ 7.39m 17.97m 1.23g/t Au 1.30g/t Au 23.02m N / 27.8m 4.43g/t Au 10.34m LI-13-09: 2.1g/t Au/24.3m 0.74g/t Au 28.58m LI-14-17A (North Zone) 3.04g/t Au/8.40m LI-14-12: 1.64g/t Au/15.70m LI-14-17A (Dan Zone) 1.05g/t Au/33m 300m 117 l TSX: IMG
Slide 118: Nelligan – Core Samples – Assay Highlights
Nelligan – Core Samples – Assay Highlights LIAM ZONE Iron formation host rock Hole Li-14-21 - 2.34 g/t Au / 17.6m DAN ZONE Brecciated conglomerate with alteration Hole NE-14-25 - 9.58 g/t Au / 6.0m NORTH ZONE Quartz-carbonate alteration Hole NE-16-44 - 4.43 g/t Au / 10.3m 118 l TSX: IMG l NYSE: IAG
Slide 119: Pitangui Gold Project - Brazil
Pitangui Gold Project - Brazil l TSX: IMG l NYSE: IAG l 119
Slide 120: Pitangui – Brazil (100% owned)
Pitangui – Brazil (100% owned) Tonnes Grade Contained Ounces (000) (g/t) (000 Au) 180 square kilometre land package Measured & Indicated1 -- -- -- Located in the Iron Quadrangle, the Inferred1 4,252 5.0 679 second largest gold producing region in the country Focused on São Sebastião deposit
Slide 121: Pitangui - São Sebastião Deposit
Pitangui - São Sebastião Deposit Now drilling at 50m x 50-100m spacing 121 l TSX: IMG l NYSE: IAG l 121
Slide 122: São Sebastião Deposit – Highlights Biquinho Zone
São Sebastião Deposit – Highlights Biquino Zone Cross-section 15.85m@4.03g/t Au; including 7.38m@8.12g/t Au Gold mineralization hosted by multiple banded iron formation horizons l TSX: IMG l NYSE: IAG l 122
Slide 123: São Sebastião Deposit – Geological Modelling
São Sebastião Deposit – Geological Modelling Up-Plunge Mineralization: N Permits in place for 2017 drilling E Weathering Zone S Biquinho Zone Shallow-Dipping Mineralization Pimento Zone 3d Geological Model – NE View W l TSX: IMG l NYSE: IAG l 123
Slide 124: São Sebastião Deposit, Biquinho Horizon
São Sebastião Deposit, Biquinho Horizon 124 l TSX: IMG l NYSE: IAG l 124
Slide 125: Eastern Borosi - Nicaragua
Eastern Borosi - Nicaragua La Sorpresa Vein Guapinol Vein l TSX: IMG l NYSE: IAG l 125
Slide 126: Eastern Borosi – Option Agreement with Calibre Mining
Eastern Borosi – Nicaragua – (Option Agreement with Calibre Mining) 180 square kilometre land package Region of several >2 million oz Au deposits Property hosts >40 km of multiple gold/silver epithermal vein systems (historic resources) 2017 focused on expanding vein systems to resource stag
Slide 127: Eastern Borosi Discoveries
Eastern Borosi 10 discoveries Targeting parallel-trending Guapinol and Vancouver veins and the Blag vein system Assay results include: › East Dome target, including*: 16.5 m grading 2.27g/t Au and 127.9g/t Ag › Veta Loca target*: 6.3 m grading 10.15g/t Au and 6.9g/t Ag Veta Loca is a new dis
Slide 128: Eastern Borosi - Riscos de Oro Intercept
Eastern Borosi - Riscos de Oro Intercept – Historic Mining Area Classic Epithermal Vein System l TSX: IMG l NYSE: IAG l 128
Slide 129: Eastern Borosi - Veta Loca – New Discovery in 2016
Eastern Borosi - Veta Loca – New Discovery in 2016 l TSX: IMG l NYSE: IAG l 129
Slide 130: Africa
Africa
Slide 131: West Africa – Long History of Gold Mining
West Africa – Long History of Gold Mining The Kenema – Man Shield l TSX: IMG l NYSE: IAG l 131
Slide 132: West Africa – Host to Numerous Large Gold Deposits
West Africa – Host to Numerous Large Gold Deposits Boto Diakha * Caution: compilation of past production and deposit resources to demonstrate geologic endowment, not NI 43-101 resource statements l TSX: IMG l NYSE: IAG l 132
Slide 133: Boto-Siribaya Mineralization Trend
Boto-Siribaya Mineralization Trend Similar geology Challenges of international borders l TSX: IMG l NYSE: IAG l 133
Slide 134: Boto Gold Project, Senegal
Boto Gold Project, Senegal Local Village Artisanal Mining Laterite Cap l TSX: IMG l NYSE: IAG l 134
Slide 135: Boto Gold – Senegal (100% owned)
Boto Gold – Senegal (100% owned) Tonnes Grade Contained Ounces (000) (g/t) (000 Au) Measured & Indicated1 27,670 1.8 1,563 Inferred1 2,922 1.3 125 236 square-kilometre land package in Senegal Five deposits - Malikoundi deposit accounts for ~89% of the indicated resource. Assay results confirm
Slide 136: Boto Gold – Malikoundi High-Grade Drill Intersection
Boto Gold – Malikoundi High-Grade Drill Intersection Crackle Breccia Sulphide Zones l TSX: IMG l NYSE: IAG l 136
Slide 137: Boto Gold – Footwall Extension - 2016 Drilling
Boto Gold – Footwall Extension - 2016 Drilling Drilling Highlights DBDD-2125, the previous interval of 25m @ 1.65 g/t Au is part of 50m @ 1.57 g/t Au DBDD-2218, 30m @ 3.82 g/t Au is now part of 42m @ 3.60 g/t Au DBDD-2222, 13m @ 7.94 g/t Au is now part of 32m @ 5.19 g/t Au Cross-Section (looki
Slide 138: Boto Gold – Depth Extension – 2016 Drilling
Boto Gold – Depth Extension – 2016 Drilling DBDD-2294 84m @ 4.12 g/t Au (including 22m @ 11.25 g/t Au, and 69m @ 1.56 g/t Au) 2017 Cross-Section (looking north) l TSX: IMG l NYSE: IAG l 138
Slide 139: Siribaya Project, Mali
Siribaya Project, Mali July – Dec. - Rainy Season Health Centre l TSX: IMG l NYSE: IAG l 139
Slide 140: Diakha-Siribaya – Mali (50/50 JV with Merrex Gold)
Diakha-Siribaya – Mali (50/50 JV with Merrex Gold) Tonnes Grade Contained Ounces (000) (g/t) (000 Au) Measured & Indicated1,2 2,102 1.9 129 Inferred1.2 19,816 1.7 1,092 Located 10 km south of Boto Similar gold mineralization characteristics to Boto Multiple zones of mineralization over 800m x
Slide 141: Diakha Drill Section (A-A')
Diakha Drill Section (A-A’) 4.34 g/t Au / 4m 4m@4.34 2.36 g/t Au / 24m 3.61 g/t Au / 11m 11.99 g/t Au / 34m Grade Range (Looking north) Gold mineralization extended to -250m vertical l TSX: IMG l NYSE: IAG l 141
Slide 142: Diakha Zone Mineralization
Diakha Zone Mineralization Drill Hole SRD14-148: 34m grading 4.85 g/t Au 1.56g/t 1.06g/t 7.93g/t 8.15g/t 51.00 g/t VG 11.55g/t 0.36g/t 157.0 m – 161.0m: 19.66 g/t Au over 4.0m Similar to Boto Deposit l TSX: IMG l NYSE: IAG l 142
Slide 143: Diakha Zone
Diakha Zone Permit extension approved in 2016 Excellent potential to extend known mineralization along strike Potential to increase current mineral resource l TSX: IMG l NYSE: IAG l 143
Slide 144: Diakha Zone – 2016 Exploration
Diakha Zone – 2016 Exploration “First Pass” drilling along northern extension (6,623m RC) 70m @1.55 g/t Au 26m @1.16 g/t Au Infill drilling (6,414m DD) Convert Inferred Resource to Indicated Extend zones of higher grade mineralization at depth 18m@6.73g/t Au 38m@2.37g/t Au 19m@9.28g/t Au l TSX:
Slide 145: Appendices
Appendices
Slide 146: 2016 Production and Cost Guidance
2016 Production and Cost Guidance Previous Guidance4 Revised Guidance3 Essakane (000s oz.) 365 – 375 365 – 375 Rosebel (000s oz.) 285 – 295 285 – 295 Westwood (000s oz.) 50 – 60 50 – 60 Total owner-operated production (000s oz.) 700 -730 700 -730 Joint ventures (000s oz.) 70 70 Total attributable pr
Slide 147: Capex Outlook
Capex Outlook $millions Sustaining Non-Sustaining Total Previous Revised Previous Revised Previous Revised Essakane 85 100 - - 85 100 Rosebel 50 60 15 15 65 75 Westwood 15 20 65 65 80 85 150 180 80 80 230 260 Corporate and Development Projects - - 10 5 10 5 Total owner-operator 150 180 90 85 240 265
Slide 148: Mineral Reserves and Resources
Mineral Reserves and Resources Contained Gold (000s attributable oz.) 2015 Change 2014 As of December 31, 2015 Total proven and probable mineral reserves 7,690 (11%) 8,608 Total measured and indicated mineral resources 2,3 23,482 10% 21,412 Total inferred resources 6,733 (4%) 7,018 • Gold reserves h
Slide 149: Technical Information and Qualified Person/Quality Control Notes
Technical Information and Qualified Person/Quality Control Notes 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 super
Slide 150: IAMGOLD – Directors in Attendance
IAMGOLD – Directors in Attendance Don Charter, Chairman Mr. Charter became the Chairman of the Board of Directors of IAMGOLD Corporation on May 11, 2015. An experienced corporate director, he serves on four public company boards, which, in addition to IAMGOLD, include Lundin Mining, Dream Office REI
Slide 151: IAMGOLD – Executive Leadership Team
IAMGOLD – Executive Leadership Team Steve Letwin, President & CEO Steve Letwin was appointed President and Chief Executive Officer of IAMGOLD on November 1, 2010. Specializing in corporate finance, operational management, and merger and acquisitions, Steve brings over 30 years of experience from the
Slide 152: IAMGOLD – Executive Leadership Team
IAMGOLD – Executive Leadership Team Benjamin Little, Senior VP Corporate Affairs, HSS & People Benjamin Little is Senior Vice President at IAMGOLD Corporation. Ben is also Chief Executive Officer of Euro Ressources SA, a French affiliate of IAMGOLD focused on precious-metal royalties. Prior to joini
Slide 153: IAMGOLD – Regional VPs
IAMGOLD – Regional VPs Oumar Toguyeni, Regional VP, West Africa Oumar Toguyeni joined IAMGOLD 2012 and is currently Regional Vice-President, West Africa. . In previous roles, Oumar had accumulated over 25 years of international experience in exploration, project development and operations for variou
Slide 154: IAMGOLD – General Managers
IAMGOLD – General Managers Bruno Lemelin, Essakane Mine, Burkina Faso Bruno Lemelin was appointed General Manager of the Essakane mine in May 2016, after having previously held the positions of Manager, Mine, and Manager, Operations. Before joining IAMGOLD, Bruno developed his mining expertise at di
Slide 155: IAMGOLD – Other Participants
IAMGOLD – Other Participants Michael Michaud, Chief Geologist, Corporate Michael Michaud, M.Sc., P.Geo., is IAMGOLD’s Chief Geologist and brings almost 30 years of experience in exploration and mining that was gained from a number of different geographical and geological environments in North and So
Slide 156: Investor Relations Contact
Bob Tait Laura Young Shae Frosst VP, Investor Relations Director, Investor Relations Associate, Investor Relations T: 416-360-4743 T: 416-933-4952 T: 416-933-4738 TSX: IMG NYSE: IAG