Iamgold Corporation · TSX:IMG
Iamgold — Q4 2022 Earnings Presentation
25 slides from Iamgold's earnings presentation, Feb 17, 2023
Slide 1: Fourth Quarter & Year End 2022 Financial & Operating Results Conference Call
FOURTH QUARTER 2022 RESULTS Fourth Quarter & Year End 2022 Financial & Operating Results Conference Call TSX: IMG l NYSE: IAG February 17, 2023 www.iamgold.com TSX: IMG l NYSE: IAG l www.iamgold.com
Slide 2: Cautionary Statement
FOURTH QUARTER 2022 RESULTS Cautionary Statement CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION 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 expectatio
Slide 3: Technical Information and Qualified Persons
FOURTH QUARTER 2022 RESULTS 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 presentation have been prepared in accordance with NI 43-101 a
Slide 4: 2022 Highlights
FOURTH QUARTER 2022 RESULTS 2022 Highlights CORPORATE & STRATEGIC Financed construction of Côté Gold through to production • Completed sale of Rosebel1 for $371.5 million (+ cash held by Rosebel); agreements signed to sell Bambouk assets2 for $282 million • Announced $340 million funding agreement3
Slide 5: Responsibility & Accountability
FOURTH QUARTER 2022 RESULTS Responsibility & Accountability ENVIRONMENTAL HEALTH & SAFETY • Commitment to achieve net negative GHG emissions by 2050 • Targeting net positive biodiversity at operations Days Away, Restricted or Transferred Duty (DART)1 • Medium term targets and roadmap to be issued in
Slide 6: 2022 Operational Overview
FOURTH QUARTER 2022 RESULTS 2022 Operational Overview (all operations) OPERATING RESULTS Q4 2022 Q4 2021 2022 2021 PRODUCTION Essakane (90%) koz 98 98 432 412 Annual production (attr.) of 713,000 ounces Westwood (100%) koz 18 13 67 35 • Above top end of revised guidance of 650,000 – 705,000 ounces •
Slide 7: 2023 Outlook
FOURTH QUARTER 2022 RESULTS 2023 Outlook GOLD PRODUCTION1 SUSTAINING CAPEX2,3 EXPANSION CAPEX2,3 (attributable ounces) ($M, incl. capitalized stripping) ($M) 2023 2023 2023 2022 2022 2022 GUIDANCE GUIDANCE GUIDANCE Essakane 432,000 340,000 – 380,000 $158.8 $150 $3.8 $5 Westwood 67,000 70,000 – 90,00
Slide 8: Operations
FOURTH QUARTER 2022 RESULTS Operations 8
Slide 9: Essakane (100% basis, unless otherwise stated)
FOURTH QUARTER 2022 RESULTS Essakane (100% basis, unless otherwise stated) Q4 2022 Q4 2021 2022 2021 Ore mined kt 1,691 4,113 12,585 16,015 Q4 2022 OPERATIONAL REVIEW Material mined – total kt 10,486 15,016 49,685 60,420 Attributable production of 98,000 ounces (2022: 432,000 ounces) Strip ratio w:o
Slide 10: Westwood Complex (100% basis, unless otherwise stated)
FOURTH QUARTER 2022 RESULTS Westwood Complex (100% basis, unless otherwise stated) Underground lateral development metres Q4 2022 1,297 Q4 2021 397 2022 4,303 2021 946 Ore mined – underground kt 64 61 241 106 Q4 2022 OPERATIONAL REVIEW Ore mined – other sources kt 216 229 836 919 Attributable produc
Slide 11: Côté Gold
FOURTH QUARTER 2022 RESULTS Côté Gold Côté Pit – January 2023 Processing plant interior – January 2023 Processing plant – January 2023 Leach Tanks – January 2023 CAT793 Haul Truck – January 2023 Piping Installation – January 2023 11
Slide 12: Côté Gold: Quarterly Progress Report as at Dec 31, 2022
FOURTH QUARTER 2022 RESULTS Côté Gold: Quarterly Progress Report as at Dec 31, 2022 ACTIVITIES UPDATE 73% $631.9M $1.2B project completion incurred in 20221 incurred to date1 • Incurred $185.6 million in Q4 2022 (at an average CADUSD rate of 1.39). Estimated funding to complete2 for IAG as at Dec 31
Slide 13: Côté Gold Upcoming Milestones
FOURTH QUARTER 2022 RESULTS Côté GoldUpcoming Milestones Côté Gold: 2022 2023 2024 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 TMF Phase I Q2/23 Earthworks TMF Phase II Q3/23 Overburden Removal Q3/23 AHS Control Room Côté Pit – Aug 2022 Q4/22 Processing plant interior – Aug 2022 Processing plant – Aug 2022 M
Slide 14: Côté Gold: Gosselin
FOURTH QUARTER 2022 RESULTS CÔTÉ GOLD PROJECT – MINERAL RESERVES & RESOURCES (2022)2,3 Côté Gold: Gosselin Tonnes Grade Contained Attributable Contained Classification (millions) (g/t Au) (Moz Au) (Moz Au) Gosselin zone adjoins the Côté deposit to the northeast with potential to further Côté Gold De
Slide 15: Financial Review
FOURTH QUARTER 2022 RESULTS Financial Review Photo: Wärtsilä, Hybrid Solar/Thermal Plant at Essakane 15
Slide 16: Financial Results
FOURTH QUARTER 2022 RESULTS Financial Results FINANCIAL PERFORMANCE FROM CONTINUING OPERATIONS FINANCIAL HIGHLIGHTS – continuing operations Gold revenues of $958.8 million (Q4: $207.2 million) from sales of 555,000 ounces (In $ millions, unless otherwise stated) Q4 2022 Q4 2021 2022 2021 (506,000 ou
Slide 17: Liquidity + Funding Summary
FOURTH QUARTER 2022 RESULTS Liquidity + Funding Summary LIQUIDITY & FUNDING LIQUIDITY (as of Dec 31, 2022) Funding estimates Total liquidity1 of $434.4 million +$282 Cash and equivalents of $407.8 million • Excludes $40.8 million in assets held for sale, including $38.5 million at Rosebel $ million
Slide 18: Graeme Jennings, VP, Investor Relations
FOURTH QUARTER 2022 RESULTS Graeme Jennings, VP, Investor Relations 416-388-6883 TSX: IMG l NYSE: IAG l www.iamgold.com 18
Slide 19: Appendix
FOURTH QUARTER 2022 RESULTS Appendix 19
Slide 20: Gold Mineral Reserves – 100% Basis
FOURTH QUARTER 2022 RESULTS Gold Mineral Reserves – 100% Basis As of December 31, 2022 PROVEN PROBABLE TOTAL RESERVES Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEPOSIT Type* Location (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) Rosebel 1,6 OP Suriname 8,890 0.6
Slide 21: Gold Mineral Reserves – Attributable
FOURTH QUARTER 2022 RESULTS Gold Mineral Reserves – Attributable As of December 31, 2022 PROVEN PROBABLE TOTAL RESERVES Effective Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEPOSIT Location Ownership (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) Rosebel 1,6 95% S
Slide 22: Gold Mineral Resources – 100% Basis
FOURTH QUARTER 2022 RESULTS Gold Mineral Resources1,2 – 100% Basis (Measured & Indicated Resources are inclusive of Proven & Probable Reserves) As of December 31, 2022 MEASURED INDICATED MEASURED + INDICATED INFERRED Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEP
Slide 23: Gold Mineral Resources – Attributable
FOURTH QUARTER 2022 RESULTS Gold Mineral Resources1,2 – Attributable (Measured & Indicated Resources are inclusive of Proven & Probable Reserves) As of December 31, 2022 MEASURED INDICATED MEASURED + INDICATED INFERRED Effective Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grad
Slide 24: Notes to the Gold Mineral Resources Statement
FOURTH QUARTER 2022 RESULTS Notes to the Gold Mineral Resources Statement 1 In mining operations, Measured Mineral Resources and Indicated Mineral Resources that are not Mineral Reserves are considered uneconomic at the price used for Mineral Reserve estimations but are deemed to have a reasonable p
Slide 25: Graeme Jennings, VP, Investor Relations
FOURTH QUARTER 2022 RESULTS Graeme Jennings, VP, Investor Relations 416-388-6883 TSX: IMG l NYSE: IAG l www.iamgold.com