Iamgold Corporation · TSX:IMG
Iamgold — Investor Presentation (December 2019)
48 slides from Iamgold's investor presentation, December 2019
Slide 1: Corporate Presentation
Corporate Presentation December 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: Making the Case for IAMGOLD
Making the Case for IAMGOLD Saramacca online Westwood Productivity stabilized Improvements IMPROVED PERFORMANCE Essakane solid Free Cash Flow contributor Generation Exploration Successes: Nelligan Karita Increased R&R 4
Slide 5: Creating Superior Shareholder Value
1 2 3 4 Creating Superior Shareholder Value 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 Faso E
Slide 6: 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 32% 39% South Africa A
Slide 7: Maintaining a Strong Balance Sheet
1 2 3 4 Maintaining a Strong Balance Sheet MAINTAINING LIQUIDITY WELL ABOVE $1 BILLION Cash and cash equivalents $ 634 M Short-term investments $ 16 M Available credit facility $ 500 M Total Liquidity As at September 30, 2019 $1,150 M Forward Sale Funds1 +$170 M Receipt: Dec. 2019 Sale: 150,000 oz A
Slide 8: 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 Karita Guinea Diakha-Siribaya Mali Eastern Borosi Nicaragua Côté Gold Project, Canada Boto Gold Pr
Slide 9: 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 10: Environmental, Social and Governance (ESG)
Environmental, Social and Governance (ESG) Zero Harm remains both a goal and journey: • Respecting the natural environment, building strong community partnerships and putting the health and safety of our employees first. Strong environmental, social, and governance practices have always been part of
Slide 11: Near Term Catalysts
Near Term Catalysts H1 2019 $170 Million Gold Prepay Agreement Diahka-Siribaya Updated Resource H2 2019 Essakane CIL and Heap Leach Feasibility Study Nelligan Initial Resource Saramacca Production Targeted Expect delivery of Boto Mining Permit Preliminary Westwood Plan Update 2020 Saramacca Full Pro
Slide 12: Leveraging Existing Asset Base
Leveraging Existing Asset Base Photo: Wärtsilä 12
Slide 13: Rosebel Gold Mine, Suriname
Rosebel Gold Mine, Suriname 13
Slide 14: 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 15: Rosebel – Overview of Site
Rosebel – Overview of Site RGM a. Full Haul road: 30 km b. Haul Road & Back road: 20 + 13 KM BROWNSWEG SARAMACCA 15
Slide 16: Road to Rosebel Mill
Road to Rosebel Mill 16
Slide 17: Essakane Gold Mine, Burkina Faso
Essakane Gold Mine, Burkina Faso 17
Slide 18: 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 19: CIL/HL Feasibility Study Highlights
CIL/HL Feasibility Study Highlights1 PRODUCTION PROFILE 600,000 CIL (FS) HL (FS) CIL (PFS) HL (PFS) 400,000 200,000 - 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 HIGHLIGHTS PFS FS Mining Capacity 70.0 Mtpa 55.0 Mtpa CIL Milling Capacity (100% hard rock equivalent) 10.8 Mtpa 11.7 Mtpa
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 • Approximately 24km RC and diamond drilling on the mine lease and surrounding concessi
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 • 95 – 105koz 2019 Guidance • $15mm sustaining capex • $
Slide 23: Exploration Review
Exploration Review 23
Slide 24: Karita – Along Trend to Boto and Diakha
Karita – Along Trend to Boto and Diakha KARITA, GUINEA1 • Strategically located along the prolific Senegal- Mali shear zone between Boto Gold Project in Senegal to the north, and Diakha-Siribaya Project in Mali to the south. • Reported results from 2019 drilling program, comprising 16 reverse circul
Slide 25: Nelligan – Adding to District Potential
Nelligan – Adding to District Potential OVERVIEW RESOURCE Location • Quebec, 60km South of Chibougamau 100% Tonnes Grade Contained Ounces • 51% JV Interest, option to earn up to 80% Basis (000) (g/t) (000 Au) Ownership interest 1 Inferred 96,990 1.02 3,194 • Located 15 km south of Monster Lake • Ren
Slide 26: 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 Nelligan Diakha Saõ Sebastiaõ Gossey E. Borosi Initial Resource / Scoping Yorbeau Tassiri Korizena Je
Slide 27: 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 stakeholder balance sheet pipeline value • Operationa
Slide 28: Appendix
Appendix tf [IAMGOLD 28
Slide 29: 2019 Production and Cost Guidance
2019 Production and Cost Guidance Full Year Guidance1 Essakane (000s oz) 380 – 390 Rosebel (000s oz) 240 – 260 Westwood (000s oz) 95 – 105 Total owner-operated production (000s oz) 715 – 755 Sadiola Joint Venture (000s oz) 50 – 55 Total attributable production (000s oz) 765 – 810 Cost of sales 2 ($/
Slide 30: 2019 Capex Outlook
2019 Capex Outlook GUIDANCE UPDATED AT Q2 $millions Sustaining1 Non-Sustaining Total $40 $70 $110 Essakane $40 $50 $90 Rosebel $15 $20 $35 Westwood Owner-operator $95 $140 $235 Corporate and Development Projects2 - $40 $40 Total (±5%)3,4 $95 $180 $275 1 Sustaining capital includes capitalized stripp
Slide 31: Hedge Position – Q3 2019
Hedge Position – Q3 2019 2019 2020 2021 2022 2023 Foreign Currency Canadian dollar contracts (millions of C$) 71 186 Rate range1 ($/C$) 1.25 - 1.39 1.30 - 1.36 Hedge ratio 63% 50% Euro2 (millions of €) 16 Euro contracts (millions of €) 24 Rate range3 (€/$) 1.14 - 1.20 Hedge ratio 62% Commodities 4 B
Slide 32: Development Projects
Development Projects 32
Slide 33: Côté Gold Project Ontario (64.75%)
Côté Gold Project Ontario (64.75%) OVERVIEW FEASIBILITY STUDY HIGHLIGHTS1- 100% Basis 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 coveri
Slide 34: Boto Gold Senegal (90%)
Boto Gold Senegal (90%) OVERVIEW FEASIBILITY STUDY HIGHLIGHTS3- 100% Basis 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
Slide 35: Mineral Reserves and Resources
Mineral Reserves and Resources 35
Slide 36: 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 37: Gold Mineral Reserves
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 38: 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 39: Gold Mineral Resources
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 40: 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 41: 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 42: Exploration Projects
Exploration Projects tf [IAMGOLD 42
Slide 43: Monster Lake
Monster Lake Quebec (50% JV Interest) OVERVIEW RESOURCE Location • Quebec 100% Tonnes Grade Contained Ounces • 50:50 JV with TomaGold, with option to earn up to a Basis (000) (g/t) (000 Au) Ownership 75% interest • Continuing to better define and extend the 325- Inferred1 1,110 12.14 433 Megane Zone
Slide 44: Diakha-Siribaya
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 45: Pitangui
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 46: 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 47: Eastern Borosi
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 48: 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: IAG48