Iamgold Corporation · TSX:IMG
Iamgold — Q4 2009 Earnings Presentation
23 slides from Iamgold's earnings presentation, Feb 17, 2010
Slide 1: IAMGOLD The Transformation
September 15, 2009 IAMGOLD THE TRANSFORMATION Denver Gold Forum Joseph F. Conway President & CEO FOURTH QUARTER & YEAR END 2009 PRESENTATION FEBRUARY 17, 2010 Peter C. Jones Interim President & Chief Executive Officer
Slide 2: Cautionary Statement
2 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 re
Slide 3: Management Team
3 Management Team Peter C. Jones Interim President & Chief Executive Officer Carol Banducci Executive Vice President & Chief Financial Officer Gordon Stothart Executive Vice President & Chief Operating Officer
Slide 4: Q4 2009 Highlights
4 Q4 2009 Highlights Leading Solid Quarter, Impressive Year Shareholder Value Aggressive Organic Growth Exceptional Sadiola Deeps Feasibility Balance Started Sheet 156% Solid $423M available Earnings 117% $0.11 /share TSX: IMG NYSE: IAG Shares outstanding: 369 M Market Capitalization: $5.8B IAG 52-w
Slide 5: Leading Shareholder Value
5 2009 Goals Achieved Consistently Delivering Results Exceeded Original Guidance Advanced Essakane Expanded Rosebel Mill Increased Growth Pipeline Expanding Niobec Mill Zero Harm Continued …..Leading Shareholder Value
Slide 6: Q4 2009 Operating Results
6 Q4 2009 Operating Results Solid Production, Increased Margin Q4 Q4 Gold Margin 2009 2008 2009 2008 ($/oz) Gold Operating Results 1 Gold production 234 255 939 997 (000 oz) Gold price realized 1,096 793 960 855 ($/oz) Cash cost 488 408 461 459 ($/oz) Niobium Margin 20 ($/kg) Non-gold Operating Resu
Slide 7: Q4 2009 Financial Results
7 Q4 2009 Financial Results Earnings from Operations up 35% (US$ millions) Q4 2009 Q4 2008 2009 2008 400 Earnings from Operations ($ millions) 350 Revenues 265.3 209.6 914.3 869.6 300 Earnings from operations 94.8 70.1 349.7 272.3 250 200 Adjusted net 41.4 16.4 212.2 107.5 earnings 150 Adjusted net
Slide 8: Exceptional Balance Sheet
8 Exceptional Balance Sheet Continue to be Net Cash Positive and Positioned for Growth Five Year Estimated Accumulated Cash Flow vs. (US$ millions) As at As at Capital Needs ($Billions) Sept. 30, Dec. 31, ~$2.1B @$1,000/oz 2009 2009 ~$1.8B @$900/oz 1 ~$1.4B Cash & bullion $344 $300 Operations ~$1.2B
Slide 9: Global Operations & Growth
9 Global Operations & Growth FOCUS DISCIPLINE RESULTS Long Standing Presence, Long Term Future ROSEBEL SURINAME DOYON QUEBEC MUPANE BOTSWANA NIOBEC QUEBEC DOYON DIVISION NIOBEC WESTWOOD SADIOLA MALI YATELA MALI YATELA ROSEBEL ESSAKANE DAMANG QUIMSACOCHA SADIOLA TARKWA GHANA DAMANG GHANA TARKWA MUPAN
Slide 10: Superior Production Growth Profile
10 Superior Production Growth Profile* Continued Growth 1,500 (000’s ounces) 1,000 500 0 2004 2005 2006 2007 2008 2009 2010F 2011F 2012F 2013F 2014F Sadiola Yatela Tarkwa Damang Mupane Rosebel Doyon/Westwood Sleeping Giant Essakane Quimsacocha *Assumes: • Essakane startup August 2010 • Sadiola Deeps
Slide 11: Solid Reserves Growth
11 Solid Reserves Growth Record Gold Reserves (000s of Ounces) 14,000 12,000 ESSAKANE 10,000 8,000 ROSEBEL 6,000 CANADA QUIMSACOCHA 4,000 MUPANE DAMANG 2,000 TARKWA YATELA SADIOLA 0 2004 2005 2006 2007 2008 2009 • Reserves as at Dec. 31, 2008 include Essakane acquired Feb. 25, 2009 • “Canada” includ
Slide 12: Rosebel Suriname
12 Rosebel SURINAME Record Production, Lower Costs (000 oz) Production & Cash Costs (US$/oz) 500 $500 400 300 $400 200 IMG Ownership 95% 100 Location Suriname 0 $300 2007 2008 2009 M&I Resources (oz)* 6,870,000 Inferred Resources (oz) Record 2009 production of 392,000 oz 894,000 Estimated 2010 p
Slide 13: IAMGOLD Operations
13 IAMGOLD Operations DOYON DIVISION MUPANE IMG Ownership 100% 100% Location Quebec Botswana M&I Resources (oz)* 398,000 266,000 Inferred Resources (oz) 633,000 80,000 2009 2008 2009 2008 Production (oz) 109,000 118,000 51,000 101,000 Cash Cost ($/oz) $524 $548 $735 $367 Updates • Mouska extended in
Slide 14: West African Joint Ventures
14 West African Joint Ventures SADIOLA YATELA TARKWA DAMANG IMG Ownership 41% 40% 18.9% 18.9% JV: AngloGold Ashanti JV: AngloGold Ashanti JV: Goldfields Ltd. JV: Goldfields Ltd. Location Mali Mali Ghana Ghana M&I Resources (oz)* 2,596,000 126,000 2,573,000 551,000 Inferred Resources (oz) 1,159,000 1
Slide 15: Niobec Mine Quebec
15 Niobec Mine QUEBEC Paste Backfill & Mill Expansion on Track Niobium Margin ($/kg) IMG Ownership 100% Location Quebec M&I Resources (Mkg Nb2O5)* 181.3 Inferred Resources (Mkg Nb2O5) 219.1 Increased Reserves 32% to 181M kg Nb2O5 Production(million kg Nb) 2009 4.1 Paste Backfill & Mill Expansion
Slide 16: Exploration & Development Projects
16 Exploration & Development Projects Solid Growth Pipeline PRODUCTION Essakane BURKINA FASO Westwood CANADA CONSTRUCTION Sadiola Deeps MALI FEASIBILITY Quimsacocha ECUADOR Siribaya MALI Kalana MALI EXPLORATION Essakane Brownfields
Slide 17: Essakane Burkina Faso
17 Essakane BURKINA FASO Ahead of Schedule & On Budget UPDATE Commercial production in August! Increased Reserves by 1.1M oz Accelerated early throughput Mining proceeding Grade control drilling & stockpiling on track IMG Ownership 90% Mill foundation complete Location Burkina Faso Vil
Slide 18: Essakane Burkina Faso
18 Essakane BURKINA FASO Ahead of Schedule & On Budget *2009 M&I resources are inclusive of reserves as at Dec. 31, 2009
Slide 19: Westwood Quebec
19 Westwood QUEBEC Long Life, Low Cost 14 kms Planned Exploration shaft Bousquet 2kms 10 m / 11.5 g/t Au IMG Ownership 100% 5 m / 23 g/t Au Resources Resourc La Ronde Location Quebec, Canada CONSTRUCTION UPDATE es Indicated Resources (oz)* 98,000 oz Shaft advanced to 500m Inferred Resources (oz) 3
Slide 20: Greenfields Exploration
20 Greenfields Exploration Aggressive Organic Growth UPDATE REGIONS OF EXPLORATION ACTIVITY 2009 expenditures of $31 million Kalana Gold Project, Mali: • Existing high grade resource & 387km2 exploration property • Bulk tonnage opportunity • Exploration commenced Siribaya Gold Project, Mali: •
Slide 21: Health, Safety & Sustainability
21 Health, Safety & Sustainability Continuing Commitment to Zero Harm Q4 2009 HIGHLIGHTS SAFETY 31% decrease in days away injury rate and total accident rate vs. 2008 ENVIRONMENT Rosebel received “Toward Sustainable Mining” award for Tailings Management COMMUNITY Essakane community relocation near c
Slide 22: Investment Highlights
22 Investment Highlights Continued Commitment to Results Adjusted Net Earnings / share ($) Superior share price performance (156% vs. 7% Gold Index) 0.60 Record adjusted net earnings ($0.60/share) +650% Strong Operating Cash Flow ($0.73/share) Strong financial position ($423M available) 0.08
Slide 23: Contact and closing quote
Peter C. Jones Interim President & Chief Executive Officer Gordon Stothart “...outstanding share price performance, Executive Vice President & Chief Operating Officer continued solid operating results, a well Carol Banducci Executive Vice President & Chief Financial Officer funded pipeline and stron