Iamgold Corporation · TSX:IMG
Iamgold — Investor Presentation (September 2024)
40 slides from Iamgold's investor presentation, September 2024
Slide 1: Corporate Presentation September 2024
SEPTEMBER 2024 CORPORATE PRESENTATION CORPORATE PRESENTATION TSX: IMG l NYSE: IAG September 2024 www.iamgold.com TSX: IMG l NYSE: IAG l www.iamgold.com
Slide 2: Cautionary Statement
SEPTEMBER 2024 CORPORATE PRESENTATION Cautionary Statement CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION All information included or incorporated by reference in this news release, including any information as to the Company’s future financial or operating performance and other statemen
Slide 3: Technical Information and Qualified Persons
SEPTEMBER 2024 CORPORATE PRESENTATION Technical Information and Qualified Persons CAUTIONARY NOTE TO U.S. INVESTORS REGARDING DISCLOSURE OF MINERAL RESERVE AND MINERAL RESOURCE ESTIMATES The mineral resource and reserve estimates contained in this news release have been prepared in accordance with N
Slide 4: Overview
SEPTEMBER 2024 CORPORATE PRESENTATION Overview BUILDING A LEADING, MODERN CANADIAN-FOCUSED MULTI-ASSET PRODUCER • Côté Gold: In production and ramping up to be one of Canada’s largest mines and a model for modern mining in Canada • Essakane: 6th largest gold mine in West Africa, leader in the commun
Slide 5: Operations Overview
SEPTEMBER 2024 CORPORATE PRESENTATION Operations Overview START-UP PRODUCTION CÔTÉ GOLD ESSAKANE WESTWOOD Ontario, Canada Burkina Faso, West Africa Quebec, Canada (60% IMG | 40% SMM1) (90%) (100%) Start-up 2024 Start-up 2010 2014 Mine type Open pit Mine type Open pit Underground / Satellite OP Estim
Slide 6: Responsibility & Accountability
SEPTEMBER 2024 CORPORATE PRESENTATION Responsibility & Accountability ENVIRONMENTAL Since 2007 • Released inaugural TCFD report in 2023 outlining roadmap and GHG emission reduction targets • Goal for net positive biodiversity at all operations • Adherence and reporting to the TSM Water Stewardship P
Slide 7: Q2 2024 Highlights
SEPTEMBER 2024 CORPORATE PRESENTATION Q2 2024 Highlights OPERATING RESULTS Q2 2024 Q2 2023 YTD 2024 YTD 2023 CÔTÉ GOLD Essakane (90%) koz 111 88 229 180 First quarter of operations achieved commercial production on August 2, 2024 Westwood (100%) koz 35 19 67 40 Ramping up to 90% of nameplate exiting
Slide 8: Increased Production & Lowered Cost Guidance Mid-Year
SEPTEMBER 2024 CORPORATE PRESENTATION Increased Production & Lowered Cost Guidance Mid-Year GOLD PRODUCTION CASH COST1 AISC1 (attributable ounces) ($/ounce sold) ($/ounce sold) UPDATED PRIOR 3 Updated guidance 3 Updated guidance ACTUAL YTD YTD cost YTD cost GUIDANCE GUIDANCE Previous guidance Previo
Slide 9: Financial Results
SEPTEMBER 2024 CORPORATE PRESENTATION Financial Results 1.4 M 1 LIQUIDITY (as at June 30, 2024) $5 : Cash and equivalents of $511.4 million and total liquidity1 of $915.7 million sh Ca • $55.9 million of cash and equivalents held by Côté Gold70%, $188.2 million held by $915.7M 3. 3 M Essakane • Essa
Slide 10: Financial Results
SEPTEMBER 2024 CORPORATE PRESENTATION Financial Results FINANCIAL HIGHLIGHTS (In $ millions, unless otherwise stated) Q2 2024 Q2 2023 YTD 2024 Q2 FINANCIAL REVIEW Revenues $385.3 $238.8 $724.2 Gold revenues of $385.3 million from sales of 167,000 ounces (156,000 ounces attributable) at Gross profit
Slide 11: Côté Gold
SEPTEMBER 2024 CORPORATE PRESENTATION Côté Gold 11
Slide 12: Côté Gold
SEPTEMBER 2024 CORPORATE PRESENTATION YTD Côté Gold (100% basis, unless otherwise stated) Q2 2024 2024 Ore mined kt 2,109 4,053 OPERATIONS Grade mined g/t 0.93 0.83 Material mined – total kt 10,514 18,111 Gold production of 34,000 ounces (100%) in Q2 Strip ratio w:o 4.0 3.5 • Gold sold lower than ou
Slide 13: Côté Gold: 2024 Outlook
SEPTEMBER 2024 CORPORATE PRESENTATION Côté Gold: 2024 Outlook RECENT HIGHLIGHTS AS CÔTÉ RAMPS TO NAMEPLATE Commercial production announced on August 2, 2024 • Approximately four months after first gold (March 31, 2024) Processed over 620,000 tonnes in July with production of 25,900 ounces (100%) Rec
Slide 14: Côté & Gosselin
SEPTEMBER 2024 CORPORATE PRESENTATION CÔTÉ GOLD PROJECT – MINERAL RESERVES & RESOURCES (2023)1,3 Côté & Gosselin Tonnes Grade Contained (100%) Attributable Contained Classification (millions) (g/t Au) (Moz Au) (Moz Au) Current diamond drill program of 35,000 m with 22,900 m completed YTD • Targeting
Slide 15: Côté Gold: Large-Scale and Long-Life Mine
SEPTEMBER 2024 CORPORATE PRESENTATION Côté Gold: Large-Scale and Long-Life Mine Top 12 Gold Mines in Canada by Production1 (koz) 28 20 18 17 5 14 10 7 10 6 10 9 690 38 Remaining life of mine (years)2 585 Mines acquired in last 10 years 3 495 5 M&I Mineral Resources 2 (inclusive of reserves) 438 420
Slide 16: Essakane Gold Mine, Burkina Faso
SEPTEMBER 2024 CORPORATE PRESENTATION Essakane Gold Mine, Burkina Faso 16
Slide 17: Essakane
SEPTEMBER 2024 CORPORATE PRESENTATION Essakane (100% basis, unless otherwise stated) Q2 2024 Q2 2023 YTD 2024 YTD 2023 Ore mined kt 2,195 2,697 5,653 4,354 Q2 2024 OPERATIONAL REVIEW Material mined – total kt 11,009 13,515 22,349 19,800 Attributable production of 111,000 ounces in Q2 | 229,000 ounce
Slide 18: Updated Mine Plan
SEPTEMBER 2024 CORPORATE PRESENTATION UPDATED MINE PLAN1 Essakane MINING & STRIP RATIO CAPITAL EXPENDITURES 50 4.0 200 CURRENT MINE PLAN1 3.0 150 Strip ratio Mine life extension to 2028 $ million M tonnes 25 2.0 100 • Mining will occur from three remaining pit phases in the Essakane Main Zone 1.0 50
Slide 19: Westwood Complex, Canada
SEPTEMBER 2024 CORPORATE PRESENTATION Westwood Complex, Canada 19
Slide 20: Westwood Complex
SEPTEMBER 2024 CORPORATE PRESENTATION Westwood Complex (100% basis, unless otherwise stated) Underground lateral development metres Q2 2024 1,166 Q2 2023 1,381 YTD 2024 2,473 YTD 2023 2,875 Ore mined – underground kt 89 56 172 124 Q2 2024 OPERATIONAL REVIEW Ore mined – other sources kt 128 156 248 3
Slide 21: Westwood Complex
SEPTEMBER 2024 CORPORATE PRESENTATION Westwood Complex +4800 UNDERGROUND DEVELOPMENT & REHABILITATION WEST CENTRAL EAST Underground lateral development of 2,473 m YTD 2024 and 5,271 m in 2023 CORRIDOR CORRIDOR CORRIDOR • Securing safe access to multiple ore faces at different levels in the mine, +46
Slide 22: Exploration Projects
SEPTEMBER 2024 CORPORATE PRESENTATION Exploration Projects 22
Slide 23: Chibougamau: Emerging District
SEPTEMBER 2024 CORPORATE PRESENTATION Chibougamau: Emerging District NELLIGAN (100%1 JV INTEREST) Nelligan 2022 Resource Pit Shell • Located 60 kilometres southwest of Chibougamau, Québec • Updated resource estimate2(on 100% basis): Cut-off Category Grade Tonnage Grade Contained Au (g/t Au) (Mt) (g/
Slide 24: SEPTEMBER 2024 CORPORATE PRESENTATION
SEPTEMBER 2024 CORPORATE PRESENTATION 24
Slide 25: Appendix
SEPTEMBER 2024 CORPORATE PRESENTATION Appendix 25
Slide 26: Sumitomo Agreement: Funding with an Option to Repurchase
SEPTEMBER 2024 CORPORATE PRESENTATION Sumitomo Agreement: Funding with an Option to Repurchase The financing provided by SMM demonstrates strong validation of Côté from our partner INITIAL ADVANCES INCREMENTAL CONTRIBUTIONS REPURCHASE FEE REPURCHASE OPTION • Commencing in January 2023, • After the $
Slide 27: Côté Gold: 43-101 Mine Plan Overview
SEPTEMBER 2024 CORPORATE PRESENTATION Côté Gold: 43-101 Mine Plan Overview 80 MATERIAL MOVEMENT Operations @ 100%1 60 Mine Life years 18 Tonnes (Mt) 40 Total Ore Tonnes Mined kt 236,000 Strip ratio w:o 2.4 20 Total Ore Processed kt 233,000 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Processing
Slide 28: Côté Gold: 43-101 cost estimates vs. 2024 expectations
SEPTEMBER 2024 CORPORATE PRESENTATION Côté Gold: 43-101 cost estimates vs. 2024 expectations 2024 unit costs expected to be elevated above average 43-101 cost estimate PROCESSING MINING COSTS COSTS • due to inflation experienced in the industry and fixed costs being absorbed by fewer Other Other ton
Slide 29: Longitudinal Section
SEPTEMBER 2024 CORPORATE PRESENTATION Longitudinal Section Gosselin Zone Côté Resource Gosselin Pit Resource Pit Hydrothermal Breccia Priority Exploration (HdBx) Target for Hydrothermal Breccia GOS23-136 240.0 m grading 1.53 g/t Au GOS23-139 Incl. 120.0 m grading 2.26 g/t Au Côté 406.0 m grading 0.7
Slide 30: Côté + Gosselin Deposits – Geological Settings
SEPTEMBER 2024 CORPORATE PRESENTATION Côté + Gosselin Deposits – Geological Settings Abitibi Belt: > 260 M Oz & Growing South Swayze Belt • 19+ Moz (& growing) • Historical - Numerous high-grade vein and shear zone hosted deposits Gold production within 175 km radius: • Timmins + KL + Matachewan 897
Slide 31: Exploration Potential Objectives
SEPTEMBER 2024 CORPORATE PRESENTATION ExplorationPotential Objectives for Côté type (intrusion related, breccia) disseminated mineralization and H-G Shear veins Extensive Property package of 596 km² JEROME MINE COTE DEPOSIT Jack Rabbit GOSSELIN DEPOSIT Clam Lake 31 31
Slide 32: 2023 – New Structural Corridor Theory
SEPTEMBER 2024 CORPORATE PRESENTATION 2023 – New Structural Corridor Theory New Jack Rabbit / Theory Gomak Gosselin • Possibility that the main NE Côté trending structure through the Chester intrusive complex is the main mineralization trend. Straighter than originally Old thought. • E-W trending st
Slide 33: Essakane Gold Mine, Burkina Faso
SEPTEMBER 2024 CORPORATE PRESENTATION Essakane Gold Mine, Burkina Faso 33
Slide 34: Essakane – Overview
SEPTEMBER 2024 CORPORATE PRESENTATION Essakane – Overview OWNERSHIP: 90% IAMGOLD; 10% Government of Burkina Faso MINING Mine type Start-up Mine life 70 4.0 Open Pit 2010 ~20281 Essakane Strip ratio NIGER 2023 Performance2 2024 Guidance2,3 2024 Capital costs2,3 M tonnes 35 2.0 MALI 372,000 oz 380,000
Slide 35: Westwood Complex, Canada
SEPTEMBER 2024 CORPORATE PRESENTATION Westwood Complex, Canada 35
Slide 36: Westwood – Overview
SEPTEMBER 2024 CORPORATE PRESENTATION Westwood – Overview OWNERSHIP: 100% IAMGOLD 1200 MINING Mine type Start-up Mine life Underground | Satellite OP 2014 ~2033+1 800 M tonnes 2023 Performance2 2024 Guidance2,3 2024 Capital costs2,3 North 400 America 93,000 oz 115,000 – 130,000 oz $70M sustaining (‘
Slide 37: Bambouk District: Boto – Karita – Diakha-Siribaya
SEPTEMBER 2024 CORPORATE PRESENTATION Bambouk District: Boto – Karita – Diakha-Siribaya STRATEGIC REVIEW • On December 20, 2022, IAMGOLD announced agreement to sell Bambouk assets to Managem (CAS:MNG) for Yatela Deposit aggregate consideration of approximately $282 million6 with close expected by Q2
Slide 38: Gold Mineral Reserves – 100% Basis
SEPTEMBER 2024 CORPORATE PRESENTATION Gold Mineral Reserves – 100% Basis As of December 31, 2023 PROVEN PROBABLE TOTAL RESERVES Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEPOSIT Type* Location Ownership (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) Burkina Essak
Slide 39: Gold Mineral Resources – 100% Basis
SEPTEMBER 2024 CORPORATE PRESENTATION Gold Mineral Resources1,2 – 100% Basis (Measured & Indicated Resources are inclusive of Proven & Probable Reserves) As of December 31, 2023 MEASURED INDICATED MEASURED + INDICATED INFERRED Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade
Slide 40: Graeme Jennings, VP, Investor Relations
SEPTEMBER 2024 CORPORATE PRESENTATION Graeme Jennings, VP, Investor Relations 416-388-6883 TSX: IMG l NYSE: IAG l www.iamgold.com