Iamgold Corporation · TSX:IMG
Iamgold — RBC Capital Markets Global Mining & Materials Conference 2019
44 slides from Iamgold's conference presentation, Jun 6, 2019
Slide 1: RBC Capital Markets Global Mining & Materials Conference
RBC Capital Markets Global Mining & Materials Conference June 6-7, 2019 TSX: IMG l NYSE: IAG
Slide 2: Cautionary Statement
Cautionary Statement All information included in this presentation whether in narrative or chart form, including any information as to the Company’s future financial or operating performance, and other statements that express management’s expectations or estimates of future performance, other than s
Slide 3: Technical Information and Qualified Persons
Technical Information and Qualified Persons The mineral resource estimates contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43- 101"). The "Qualified Person" responsible for the review and approval of al
Slide 4: Self-Funding Model
Self-Funding Model • Mine sites tasked with Rosebel standalone cash flow generation. • Mine sites fund corporate, exploration, Essakane IMG Exploration & Development and project requirements. • We are initiating an aggressive cost-cutting Westwood and productivity improvement strategy. 4
Slide 5: Self-Funding, Self-Sustaining, Safe & Profitable
Self-Funding, Self-Sustaining, Safe & Profitable Our Operations REINFORCING THE MODEL • Operating cost management to achieve positive cash-flow; • Capital expenditures reflect value-adding initiatives. Operational improvements at our current sites: • Debottleneck Essakane mill; Essakane, Burkina Fas
Slide 6: Creating Superior Shareholder Value
1 2 3 4 Creating Superior Shareholder Value WE ARE BUILDING STRONG CASH FLOWS THROUGH: • Operational improvements at our current sites, and; • Disciplined approach to realizing value. Current Production Assets Rosebel, Suriname Essakane, Burkina Faso Westwood, Canada Sadiola, Mali (JV Project) 6
Slide 7: Diversifying Our Portfolio
1 2 3 4 Diversifying Our Portfolio MAP OF OPERATING, DEVELOPMENT AND EXPLORATION PROJECTS Operating Mine Development Project Advanced Exploration NORTH AMERICA Westwood Côté Gold Nelligan ATTRIBUTABLE MEASURED AND Monster Lake INDICATED RESOURCES CENTRAL AMERICA Eastern Borosi 23% 42% South America
Slide 8: Maintaining a Strong Balance Sheet
1 2 3 4 Maintaining a Strong Balance Sheet Cash and cash equivalents $589 M Short-term investments $84 M Available credit facility1 $500 M Total Liquidity As at March 31, 2019 $1,173 M Forward Sale Funds Receipt: Dec. 2019 + $170 M On January 15, 2019, IMG entered into a forward gold sale arrangemen
Slide 9: Industry Leading Financial Position
Industry Leading Financial Position Cash & Cash Equivalents and Short-term Investments Position (US$M) $673 $349 $267 $230 $221 $191 $180 $132 $115 $103 $97 $87 $85 IAMGOLD Kinross* Agnico Eagle Eldorado Evolution* Alamos Centerra New Gold Yamana B2Gold* SEMAFO* OceanaGold Endeavour Net Cash (Debt)
Slide 10: Ensuring a Robust Pipeline
1 2 3 4 Ensuring a Robust Pipeline FUTURE PRODUCTION OPPORTUNITIES GROWTH OPPORTUNITIES Monster Lake Quebec Nelligan Quebec Camp Caiman French Guiana Saramacca, Suriname Mill Optimization, Burkina Faso Diakha-Siribaya Mali Eastern Borosi Nicaragua Côté Gold Project, Canada Boto Gold Project, Senegal
Slide 11: Attributable Reserves (Moz)
129% Increase in Reserves Since 2016 20 17.9 Moz 18 14.5 Moz Attributable Reserves (Moz) 1,2 16 Reserve Increases5 14 Rosebel3: +1.3Moz 12 Côté: +0.9Moz Essakane: +0.9Moz 10 7.8 Moz Boto: +0.3Moz 8 6 4 2 0 2016 2017 2018 4 1 Mineral reserves have been estimated at December 31, 2017 and 2018 using a
Slide 12: Near Term Catalysts
Near Term Catalysts H1 2019 $170 Million Gold Prepay Agreement Diahka-Siribaya Updated Resource Essakane CIL and Heap Leach Feasibility Study H2 2019 Saramacca Production Expect delivery of Boto Mining Permit Nelligan Initial Resource Westwood Plan Update 2020 Saramacca Full Production Essakane Debo
Slide 13: Leveraging Existing Asset Base
Leveraging Existing Asset Base 13
Slide 14: Rosebel Gold Mine, Suriname
Rosebel Gold Mine, Suriname 14
Slide 15: Rosebel – Overview
Rosebel – Overview OVERVIEW Brokopondo district in north eastern Suriname Ownership • 95% IAMGOLD, 5% Government of Suriname South Mining Method • Conventional open pit methods Paramaribo America Guyana Production • Began commercial production in 2004 Status Rosebel French • Updated 43-101 disclosed
Slide 16: Rosebel – Consolidating a Gold District
Rosebel – Consolidating a Gold District Joint Venture 45km radius Pits Existing concessions subject to the UJV Gross Rosebel right of Brokolonko exploitation not subject to the UJV 16
Slide 17: Saramacca Progress: Roadwork
Saramacca Progress: Roadwork 17
Slide 18: Essakane Gold Mine, Burkina Faso
Essakane Gold Mine, Burkina Faso 18
Slide 19: Essakane – Overview
Essakane – Overview OVERVIEW North-eastern Burkina Faso, West Africa Morocco Ownership • 90% IAMGOLD, 10% Government of Burkina Faso Algeria • Conventional drill, blast, load and haul surface Western Mining Method Sahara mining method Africa • Began commercial production in July 2010 Mauritania Mali
Slide 20: Essakane – Regional Exploration Targets
Essakane – Regional Exploration Targets BROWNFIELD SUCCESS • ~1 Moz of resources delineated at Falagountou West and East, 8 kilometres east of Essakane; evaluating potential to increase resources at both deposits • During Q4’18, completed approximately 4.2km RC and diamond drilling on the mine lease
Slide 21: Westwood Gold Mine, Canada
Westwood Gold Mine, Canada 21
Slide 22: Westwood – Overview
Westwood – Overview OVERVIEW Northwestern Québec – A Prolific Gold Mining Camp Ownership • 100% IAMGOLD Mining Method • Underground • Commenced commercial production Production July 2014 Status • Progressing development LOM • Mine life to 2033 • 100 – 120koz 2019 Guidance • $15mm sustaining capex •
Slide 23: Re-seeding the Pipeline
Re-seeding the Pipeline >5 Moz Au Brownfield >2 Moz Au Advance Greenfield <2 Moz Au Greenfield Production Fala/Fala E Côté Boto Saramacca Feasibility Study Sadiola Pre-feasibility Study Monster Lake Diakha Yorbeau Saõ Sebastiaõ Gossey E. Borosi Initial Resource / Scoping Nelligan Tassiri Korizena Je
Slide 24: IAMGOLD: Building a Cash Flow Pipeline
IAMGOLD: Building a Cash Flow Pipeline Our vision is to be the global leader in generating superior value for our stakeholders through accountable mining. 1 2 3 4 CREATING DIVERSIFYING MAINTAINING ENSURING superior our portfolio a strong a robust shareholder value balance sheet pipeline 24
Slide 25: Development Projects
Development Projects 25
Slide 26: Côté Gold Project Ontario (64.75%)
Côté Gold Project Ontario (64.75%) OVERVIEW FEASIBILITY STUDY HIGHLIGHTS1 Mining: open pit Mine Capacity: 62 Mtpa • Gogama, Ontario, 130 km southwest of Location Timmins; 200 km northwest of Sudbury Process: crush, grind, gravity, leach, CIP Mill Capacity: 13.1 Mtpa • Land package covering 500 km 2
Slide 27: Boto Gold Senegal (90%)
Boto Gold Senegal (90%) OVERVIEW FEASIBILITY STUDY HIGHLIGHTS3 Mining: open pit Mine Capacity: 18.2 Mtpa • Senegal, West Africa Location • Along same trend as B2Gold’s Fekola Mine Process: crush, grind, leach, CIP Mill Capacity: 2.75 Mtpa in Mali Mill Daily Throughput 7,500 tpd Ownership • 90% IAMGO
Slide 28: Mineral Reserves and Resources
2018 Mineral Reserves and Resources 28
Slide 29: 2018 Mineral Reserves and Resources
2018 Mineral Reserves and Resources Mineral resources (“resources”) and mineral reserves (“reserves”) have been estimated as at December 31, 2018 pursuant to Canadian securities regulatory requirements, specifically the requirements of National Instrument 43-101 and the definitions of resources and
Slide 30: Gold Mineral Reserves (100% Basis)
Gold Mineral Reserves1 100% BASIS RESERVES Proven Probable Contained Contained Tonnes Grade Tonnes Grade As at December 31, 2018 Ounces Ounces (000s) (g/t) (000s) (g/t) (000s) (000s) Rosebel 29,776 0.6 587 100,583 1.0 3,208 Saramacca — — — 26,549 1.8 1,542 Essakane — — — 148,812 0.9 4,380 Westwood 1
Slide 31: Gold Mineral Reserves (Attributable)
Gold Mineral Reserves1 ATTRIBUTABLE RESERVES Proven Probable Contained Contained Tonnes Grade Tonnes Grade As at December 31, 2018 Ounces Ounces (000s) (g/t) (000s) (g/t) (000s) (000s) Rosebel (95%) 28,287 0.6 558 95,554 1.0 3,048 Saramacca (66.5%) — — — 17,655 1.8 1,025 Essakane (90%) — — — 133,931
Slide 32: Gold Mineral Resources (100% Basis)
Gold Mineral Resources1,2 (Measured and Indicated Resources are Inclusive of Proven and Probable Reserves) 100% BASIS RESOURCES Measured Indicated Inferred Contained Contained Contained As at December 31, 2018 Tonnes Grade Tonnes Grade Tonnes Grade Ounces Ounces Ounces (000s) (g/t) (000s) (g/t) (000
Slide 33: Gold Mineral Resources (Attributable)
Gold Mineral Resources1,2 (Measured and Indicated Resources are inclusive of Proven and Probable reserves) ATTRIBUTABLE RESOURCES Measured Indicated Inferred Contained Contained Contained As at December 31, 2018 Tonnes Grade Tonnes Grade Tonnes Grade Ounces Ounces Ounces (000s) (g/t) (000s) (g/t) (0
Slide 34: Côté Gold Project – Reserves & Resources History
Côté Gold Project – Reserves & Resources History CÔTÉ GOLD - IMG ATTRIBUTABLE RESERVES & RESOURCES 10.0 1.0 9.0 0.9 30% share 8.0 sold to SMM. 0.8 Initial Reserve Declared 7.0 from PFS 0.7 Ore Grade (g/t Au) Ounces Au (Moz) 6.0 0.6 5.0 0.5 4.0 0.4 3.0 0.3 2.0 0.2 1.0 0.1 0 14.5 Moz 1 0 2012.02 2012.
Slide 35: Appendix
Appendix tf [IAMGOLD 35
Slide 36: 2019 Capex Outlook
2019 Capex Outlook Current Guidance $millions Non- Sustaining1 Sustaining Total Essakane $55 $70 $125 Rosebel $70 $75 $145 Westwood $15 $30 $45 Owner-operator $140 $175 $315 Corporate and Development Projects2 – $40 $40 Total (±5%)3,4 $140 $215 $355 1 Sustaining capital includes capitalized strippin
Slide 37: Hedge position – Q1 2019
Hedge position – Q1 2019 2019 2020 2021 2022 2023 Foreign Currency Canadian dollars (millions of C$) 1 20 - - - - Canadian dollar contracts (millions of C$) 212 186 - - - 2 Rate range ($/C$) 1.25 - 1.39 1.30 - 1.36 - - - Hedge ratio 69% 50% 3 Euro (millions of €) 70 - - - - Euro contracts (millions
Slide 38: Nelligan Quebec (51% JV Interest)
Nelligan Quebec (51% JV Interest) OVERVIEW HIGHLIGHTS Renard Zone drill hole results1: Location • Quebec • NE-18-84: 82.6 metres grading 3.30 g/t Au • 51% JV Interest, option to earn up to 80% Ownership • NE-18-95: 42.1 metres grading 3.59 g/t Au interest • NE-18-96: 27.8 metres grading 5.69 g/t Au
Slide 39: Monster Lake Quebec (50% JV Interest)
Monster Lake Quebec (50% JV Interest) OVERVIEW RESOURCE Location • Quebec 100% Tonnes Grade Contained Ounces • 50:50 JV with TomaGold, with option to earn Basis (000) (g/t) (000 Au) Ownership up to a 75% interest Inferred1 1,114 12.14 435 • Continuing to better define and extend the 325-Megane Zone
Slide 40: Diakha-Siribaya Mali (90%)
Diakha-Siribaya Mali (90%) OVERVIEW RESOURCE • Located approximately 10km south along 100% Tonnes Grade Contained Ounces strike from the Boto Gold Project in Senegal Basis (000) (g/t) (000 Au) • 20182: 14,600 metres of RC & DD drilling completed. Results include: Measured 18,031 1.28 744 › 1.61 g/t
Slide 41: Pitangui Brazil (100%)
Pitangui Brazil (100%) OVERVIEW RESOURCE Tonnes Grade Contained Ounces • Banded iron formation hosted deposit (000) (g/t) (000 Au) • 25 km from Jaguar’s Turmalina mill Highlights • 2017 drilling program resulted in a 21% Inferred1 5,365 4.7 819 increase in inferred resources • Continuing to test pri
Slide 42: Loma Larga: Optionality via Strategic Investment
Loma Larga: Optionality via Strategic Investment Ecuador (~36%) OVERVIEW FEASIBILITY STUDY HIGHLIGHTS1 Mine Life ~12 years Nameplate Capacity 3,000 tpd • IAMGOLD owns ~36% of INV Metals (TSX:INV) Annual Average Gold Production 130,000 oz • FS has robust economics with after-tax IRR of Gold Grade 4.9
Slide 43: Eastern Borosi Nicaragua (51% JV Interest)
Eastern Borosi Nicaragua (51% JV Interest) OVERVIEW RESOURCE • Earn-in option with Calibre Mining; 100% Tonnes Grade Contained Ounces Ownership IAMGOLD can earn up to a 70% interest Basis (000) AuEq (g/t) (000 Au) Inferred1,2 4,418 5.7 812 • Multiple high grade Au-Ag epithermal vein Highlights syste
Slide 44: TSX: IMG l NYSE: IAG
Indi Gopinathan Martin Dumont Investor Relations Lead Senior Analyst, Investor Relations T: 416-360-4743 T: 416-933-5783 TSX: IMG l NYSE: IAG44
IAMGOLD — RBC Capital Markets Global Mining & Materials Conference 2019 on 6ix