Iamgold Corporation · TSX:IMG
Iamgold — CIBC 14th Annual Whistler Institutional Investor Conference (January 2011)
36 slides from Iamgold's conference presentation, Jan 21, 2011
Slide 1: CIBC 14th Annual Whistler Institutional Investor Conference
CIBC 14th Annual Whistler Institutional Investor Conference January 21, 2011 Steve Letwin President & Chief Executive Officer
Slide 2: Cautionary Statement
Cautionary Statement This presentation contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements rega
Slide 3: Corporate Overview
Corporate Overview IAMGOLD’s growth is strategically focused in West Africa, select countries in South America and in the Canadian provinces of Ontario and Québec 8 Gold mines 1 Niobium mine Westwood Development project 20+ Exploration projects Commitment to growth 3
Slide 4: Zero Harm
Zero Harm IAMGOLD’s Health, Safety and Sustainability performance ranks 3rd in top 60 Canadian companies HEALTH & SUSTAINABILITY SAFETY Framework Framework Leadership Leadership Accountability Governance Stakeholder People Engagement Risk Performance Management Social Processes Stewardship Environme
Slide 5: Sources of Funding
Sources of Funding Millions $ 700 Cash and gold on hand 593 600 Future cash flow from operations 500 Strong balance sheet 400 350 300 200 100 243 0 Sep. 30'10 Cash & Bullion 1 Credit Facility available 2 1 Bullion at market value 2 Available undrawn portion, credit facility expiring April 2013
Slide 6: Competitive Advantages
Competitive Advantages Superb senior leadership Proven operational expertise Strong balance sheet Base of world-class mines Experienced in key regions with good growth potential Technically strong and mobile workforce 6
Slide 7: Strategic Focus
Strategic Focus BROWNFIELD GREENFIELD OPPORTUNITIES OPPORTUNITIES ESSAKANE (90%), EXPLORATION AT MINES WE OPERATE ROSEBEL (95%) & & FUTURE WESTWOOD (100%) ACQUISITIONS TARKWA & NIOBEC (100%) DAMANG (18.9%) SADIOLA (41%) NIOBIUM MINE & YATELA (40%) WORKING INTERESTS IN GHANA JOINT VENTURES IN MALI OP
Slide 8: Planned Capital Expenditures
Planned Capital Expenditures millions $ 400 350 25 300 54 250 191 132 200 92 150 23 38 100 139 146 98 13 50 95 20 13 39 5 16 22 4 15 0 Essakane Westwood Sadiola Rosebel Niobec Mupane Other 2011 2012 2013 8
Slide 9: 2011 Capital Expenditures
2011 Capital Expenditures Westwood - $146M Deepening shaft Developing drift levels for future mining 2011 Planned Capital Expenditures of Essakane - $139M $460M Exapnsion construction to start in Q4’11 (in millions $) based on favourable outcome to expansion feasibility study $146 Rosebel - $9
Slide 10: Production Gold Profile
Production Gold Profile 3-Year Production Profile of IAMGOLD-Operated Mines 000s ounces 1,000 900 800 380-400 700 370-390 600 310-330 Essakane 122 Rosebel 500 Westwood 400 360-380 Mouska Mupane 300 395 360-380 390-410 200 80 130-150 100 119 33 25-30 55-60 30-35 18 57 40-45 15 15-25 0 Q4'10 Actual 20
Slide 11: Focus on Growth
Focus on Growth GROWTH Rosebel Essakane Westwood
Slide 12: Rosebel Suriname
Rosebel SURINAME IMG Ownership: 95% AttributableReserves & Resources (oz) P&P Reserves1 4,840,000 M&I Resources2 6,870,000 Inferred Resources 894,000 Attributable production (oz) Attributable Gold Production 000’s ozs 2010 395,000 2010 Q4 119,000 400 2009 392,000 392 395 300 315 Cash Cost ($/oz) 263
Slide 13: Rosebel Exploration
Rosebel Exploration Koolhoven Pay Caro & E. Pay Caro Rosebel Mayo Roma Royal Hill 13
Slide 14: Essakane Burkina Faso
Essakane BURKINA FASO IMG Ownership: 90% Attributable Reserves & Resources (oz) P&P Reserves1 3,871,000 M&I Resources2 4,266,000 Inferred Resources 1,869,000 Attributable production (oz) 2010 (July 16-Dec. 31) 122,000 Commercial production achieved LOM annual production (E) 315,000 July 16, 2010 C
Slide 15: Essakane Exploration
Essakane Exploration EMZ north extension EMZ East Dump Au≥ 117 ppb (in soils) West Dump Lay down Offices Air Strip Falagountou TSF EMZ South extension 15
Slide 16: Essakane Expansion
Essakane Expansion Decision announced on Oct. 20, 2010 to launch feasibility study to expand mine CURRENT PLAN WITH EXPANSION1 Processing Processing First 3 years: soft rock at 9Mtpa First 3 years: soft rock at 9Mtpa Subsequent 9 years: hard rock at 5.4Mtpa Subsequent 9 years: hard rock at 10.8Mtpa
Slide 17: Westwood Canada
Westwood CANADA Westwood, Quebec, Canada IMG Ownership 100% M&I Resources (oz)1 98,000 Inferred Resources (oz) 3,431,000 Estimated Annual Production 186,000 (oz) Estimated Cash Cost ($/oz) $358 Projected Start-up Early 2013 Estimated Mine Life (years) 16 Resources > 15g/t Au Resources 6-15g/t Au 1 M
Slide 18: CIBC 14th Annual Whistler Institutional Investor Conference
CIBC 14th Annual Whistler Institutional Investor Conference Contact: Bob Tait, VP Investor Relations 401 Bay Street, Suite 3200 Toronto, ON M5H 2Y4 Canada T: 416 360 4743 C: 647 403 5520 E: info@iamgold.com 18
Slide 19: Appendix
$ [AMGOLD’ CORPORATION APPENDIX
Slide 20: Guidance
Guidance 2010 2011 Full Year Annual Guidance Gold Production (000oz) 940-970 1,100 – 1,200 Cash Costs (US$/oz) $565-$585 $565 – $595 Niobium production (M kg) 4.4 4.7 – 5.0 Niobium Operating Margin (US$/kg) $17-$19 $15 – $17 20
Slide 21: IAMGOLD's Mining Interests
IAMGOLD’s Mining Interests 2010 2009 2010 Actual Gold Geographic IAMGOLD 9-mos Operator Production Production Mines Location Ownership Cash cost1 (000oz) (000oz) ($/oz) Rosebel IAMGOLD Suriname 95% 392 395 499 Essakane IAMGOLD Burkina Faso 90% - 122 459 Mupane IAMGOLD Botswana 100% 51 57 897 Doyon D
Slide 22: Solid Reserves & Resources Growth
Solid Reserves & Resources Growth Attributable Measured & Indicated Resources 000s oz 30 25 20 15 10 5 0 2004 2005 2006 2007 2008 2009 Sadiola Yatela Tarkwa Damang Mupane Essakane Canada Rosebel Quimsacocha Others • Resources include reserves, but not inferred resources as at Dec. 31, 2008 includes
Slide 23: Niobec: Long Life, High Margin Producer
Niobec: Long Life, High Margin Producer Production and Operating Margin of Niobium 000kg Nb $19 $20 $17-$19 $15-$17 6,000 2011E: 5,000 4,700-5,000 4,000 4,396 4,350 4,106 3,000 2,000 1,000 0 2008 2009 2010 2011E Niobium Production Minimum Production Forecast Forecast Range $-Operating Margin per kg
Slide 24: Sadiola Mali
Sadiola MALI IMG Ownership: 41% JV Partner: AngloGold Ashanti (41%) Attributable Reserves & Resources (oz) P&P Reserves1 1,457,000 M&I Resources2 2,596,000 Inferred Resources 1,159,000 Attributable Production (oz) ‘Back to Basics’ safety initiative 2010 9-mos 89,000 Promising results from $15M 2
Slide 25: Sadiola Sulphide Project
Sadiola Sulphide Project Soft ore mining from current pits scheduled to end in 2016 IMG-driven Prefeasibility Study approved Oct. 2009 Different ‘vision’ than prior studies: owner mining, simpler processing, power from grid, higher gold price Finish Joint Feasibility Study Negotiations for
Slide 26: Sadiola Sulphide Project
Sadiola Sulphide Project Resource definition drilling campaign (7,850m) Condemnation drilling campaign (2,900m RC) Inferred resources converted to measured and indicated New hard rock plant required to complement existing facility: Flexible plant arrangement based on ore feed Test work c
Slide 27: Yatela Mali
Yatela MALI IMG Ownership: 40% JV Partner: AngloGold Ashanti (40%) Attributable Reserves & Resources (oz) P&P Reserves1 44,000 M&I Resources2 126,000 Inferred Resources 19,000 Attributable Production (oz) 2010 9-mos 51,000 Drilling extended mine life to at least 2011 2009 89,000 Exploring Yatela
Slide 28: Tarkwa Ghana
Tarkwa GHANA IMG Ownership: 18.9% JV Partner: Gold Fields Ltd. (71.1%) Reserves & Resources (oz) P&P Reserves1 2,018,000 M&I Resources2 2,573,000 Inferred Resources 486,000 Attributable Production (oz) 2010 9-mos 105,000 Long life open pit mine 2009 125,000 New tailings storage facility added Ca
Slide 29: Damang Ghana
Damang GHANA IMG Ownership: 18.9% JV Partner: Gold Fields Ltd. (71.1%) Reserves & Resources (oz) P&P Reserves1 344,000 M&I Resources2 551,000 Inferred Resources 258,000 Attributable Production (oz) 2010 9-mos 32,000 2009 38,000 Cash Cost ($/oz) Aggressive exploration extended mine life to at least
Slide 30: Mali – Kalana JV
Mali – Kalana JV 2010 Budget - $5.9 million 387 km2 Mining Permit expires 2033 GUINEA Avnel - IMG Option Agreement MALI signed August 2009 Kalanako IAMGOLD can earn a 51% interest in Avnel’s Dadjan share of SOMIKA (80%); Malian Government High priority (20%) Kalana 60km² $11M expenditure in
Slide 31: Mali – Siribaya JV
Mali – Siribaya JV 2010 Budget – $3.7 million Senegal 563km2 land package Maiden Resource Guemedji Trend Indicated: 308Koz at 2.39 g/t Au Mali Boto Inferred: 70Koz at 2.29 g/t Au (100% IMG) SiribayaTrend Merrex - IMG Option Agreement Zone 1B Resource Area signed December 2008 Siribaya IA
Slide 32: Senegal – Daorala-Boto & Bambadji
Senegal – Daorala-Boto & Bambadji Sabodala – 2 Moz Loulo – 6 Moz 315 km² in World-Class District DAORALA Yalea – 2.4 Moz Daorala-Boto: 100% IAMGOLD Massawa – 4.5 Moz Tabakoto – 2.8 Moz Gounkoto – 2.65 Moz Boto located 25 km from Siribaya BAMBADJI JV Established non-compliant mineral inventory Se
Slide 33: Mupane Botswana
Mupane BOTSWANA IMG Ownership: 100% Attributable Reserves & Resources (oz) P&P Reserves1 199,000 M&I Resources2 266,000 Inferred Resources 80,000 Attributable Production (oz) 2010 57,000 2009 51,000 Working with local management to maximize cash flows going forward Cash Cost ($/oz) Benefit from
Slide 34: Mouska Canada
Mouska CANADA IMG Ownership: 100% Reserves & Resources (oz) P&P Reserves1 53,000 M&I Resources2 398,000 Inferred Resources 633,000 Attributable Production (oz) 2010 33,000 2009 109,000 Began processing stock-piled ore in September ’10 Cash Cost ($/oz) Paste backfill from Doyon paste plant 2010 9
Slide 35: Acquisitions
Acquistions Primary focus on known SENEGAL MALI regions such as West Africa: BURKINA FASO Regional Continuity GHANA Social & Fiscal Stability Long-Term Prospectivity & Opportunities Target: 150,000+ ounces of gold per year, 2Moz+ reserves 35
Slide 36: CIBC 14th Annual Whistler Institutional Investor Conference
CIBC 14th Annual Whistler Institutional Investor Conference Contact: Bob Tait, VP Investor Relations 401 Bay Street, Suite 3200 Toronto, ON M5H 2Y4 Canada T: 416 360 4743 C: 647 403 5520 E: info@iamgold.com 36
IAMGOLD — CIBC 14th Annual Whistler Institutional Investor Conference (January 2011) on 6ix