Iamgold Corporation · TSX:IMG
Iamgold — Investor Presentation (September 2023)
44 slides from Iamgold's investor presentation, September 2023
Slide 1: Corporate Presentation
SEPTEMBER 2023 CORPORATE PRESENTATION CORPORATE PRESENTATION TSX: IMG l NYSE: IAG September 2023 www.iamgold.com TSX: IMG l NYSE: IAG l www.iamgold.com
Slide 2: Cautionary Statement
SEPTEMBER 2023 CORPORATE PRESENTATION 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
Slide 3: Technical Information and Qualified Persons
SEPTEMBER 2023 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 presentation have been prepared in accordance with N
Slide 4: IAMGOLD – Building a Leading High-Margin Gold Producer
SEPTEMBER 2023 CORPORATE PRESENTATION IAMGOLD – Building a Leading High-Margin Gold Producer ESTABLISHING A STRONG FOUNDATION COMMITMENT TO ESG • Côté Gold: One of the largest gold mines in Canada with • Industry leader with its Zero Harm® commitment and focus production expected in early 2024 on sa
Slide 5: Operations Overview
SEPTEMBER 2023 CORPORATE PRESENTATION Operations Overview CONSTRUCTION PRODUCTION CÔTÉ GOLD ESSAKANE WESTWOOD Ontario, Canada Burkina Faso, West Africa Quebec, Canada (60% IMG/40% SMM, 7.5% other3) (90%) (100%) Start-up Early 2024 Start-up 2010 2014 Mine type Open pit Mine type Open pit Underground
Slide 6: Responsibility & Accountability
SEPTEMBER 2023 CORPORATE PRESENTATION Responsibility & Accountability ENVIRONMENTAL HEALTH & SAFETY • Preparing inaugural TCFD report in 2023 outlining roadmap and GHG emission reduction targets Days Away, Restricted or Transferred Duty (DART)1 • Targeting net positive biodiversity at all operations
Slide 7: Q2 2023 Highlights
SEPTEMBER 2023 CORPORATE PRESENTATION Q2 2023 Highlights OPERATING RESULTS YTD 2023 Q2 2023 Q2 2022 2023 GUIDANCE PRODUCTION Essakane (90%) koz 88 107 180 340 – 380 Gold production (attr., cont. ops.) of 107,000 ounces in Q2 | 220,000 ounces YTD • Essakane resumed mining and milling at full capacity
Slide 8: 2023 Outlook
SEPTEMBER 2023 CORPORATE PRESENTATION 2023 Outlook GOLD PRODUCTION1 SUSTAINING CAPEX2,3 EXPANSION CAPEX2,3 (attributable ounces) ($M, incl. capitalized stripping) ($M) 2023 2023 2023 YTD 2023 YTD 2023 YTD 2023 GUIDANCE GUIDANCE GUIDANCE Essakane 180,000 340,000 – 380,000 $46.6 $150 $1.0 $5 Westwood
Slide 9: Financial Results
SEPTEMBER 2023 CORPORATE PRESENTATION FINANCIAL HIGHLIGHTS – continuing operations Financial Results (In $ millions, unless otherwise stated) Q2 2023 YTD 2023 LIQUIDITY (as at June 30, 2023) Revenues 238.8 465.0 Cash and equivalents of $747.7 million + total liquidity1 of $1.2 billion Gross profit 2
Slide 10: Côté Gold
SEPTEMBER 2023 CORPORATE PRESENTATION Côté Gold Côté pit – August 2023 Processing facilities – August 2023 Tailings management facility – September 2023 HPGR installation – August 2023 Ball mill installation – August 2023 Leach tanks – August 2023 10
Slide 11: Côté Gold: Mine Plan Highlights
SEPTEMBER 2023 CORPORATE PRESENTATION Côté Gold: Mine Plan Highlights Côté Gold3,4 @ 100% PRODUCTION & COST PROFILE Operations 600 $1,400 Mine Life years 18 $1,200 Total Ore Tonnes Mined kt 236,000 500 Total Waste Tonnes Mined kt 568,000 $1,000 400 Ounces (000 oz) Strip ratio w:o 2.4 $800 $/oz Total
Slide 12: Côté Gold: Progress @ June 30, 2023
SEPTEMBER 2023 CORPORATE PRESENTATION Côté Gold: Progress @ June 30, 2023 PROJECT COMPLETION OF 85.7% AT END OF Q2 2023 PROJECT CONSTRUCTION PROGRESS • Health and safety: Total project hours of 11.5 million hours with a project TRIFR of 0.68. 5% 100% • Labour and workforce: >1,900 workers on site in
Slide 13: Côté Gold: Upcoming Milestones
SEPTEMBER 2023 CORPORATE PRESENTATION Côté Gold: Upcoming Milestones 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 ✓Q4/22 Mining IAG Fleet to Support Earthworks ✓ Q2/23 Ore Stockpile Build-Up Q4/23 HPGR F
Slide 14: Côté Gold: Gosselin
SEPTEMBER 2023 CORPORATE PRESENTATION CÔTÉ GOLD PROJECT – MINERAL RESERVES & RESOURCES (2022)2,3,4 Côté Gold: Gosselin Tonnes Grade Contained Attributable Contained Classification (millions) (g/t Au) (Moz Au) (Moz Au) 15,500 m drilling campaign in 2023 to expand Gosselin mineralization ongoing with
Slide 15: Essakane Gold Mine, Burkina Faso
SEPTEMBER 2023 CORPORATE PRESENTATION Essakane Gold Mine, Burkina Faso 1 2 15
Slide 16: Essakane
SEPTEMBER 2023 CORPORATE PRESENTATION Essakane (100% basis, unless otherwise stated) Q2 2023 Q2 2022 YTD 2023 Ore mined kt 2,697 3,803 4,354 Q2 2023 OPERATIONAL REVIEW Material mined – total kt 13,515 11,405 19,800 Attributable production of 88,000 ounces in Q2 | 180,000 ounces YTD Strip ratio w:o 4
Slide 17: Westwood Complex, Canada
SEPTEMBER 2023 CORPORATE PRESENTATION Westwood Complex, Canada 17
Slide 18: Westwood Complex
SEPTEMBER 2023 CORPORATE PRESENTATION Westwood Complex (100% basis, unless otherwise stated) Underground lateral development metres Q2 2023 1,381 Q2 2022 1,207 YTD 2023 2,875 Ore mined – underground kt 56 53 124 Q2 2023 OPERATIONAL REVIEW Ore mined – other sources kt 156 218 349 Gold production of 1
Slide 19: Westwood Complex
SEPTEMBER 2023 CORPORATE PRESENTATION Westwood Complex +4800 HISTORY WEST CENTRAL EAST Westwood began production in 2013 CORRIDOR CORRIDOR CORRIDOR • Highest production years to date in 2017 and 2018 with production of 125,000 oz +4600 and 129,000 oz, respectively • In 2020, underground was put on c
Slide 20: Exploration Projects
SEPTEMBER 2023 CORPORATE PRESENTATION Exploration Projects 20
Slide 21: Chibougamau: Emerging District
SEPTEMBER 2023 CORPORATE PRESENTATION Chibougamau: Emerging District NELLIGAN (75% JV INTEREST) Nelligan 2022 Resource Pit Shell • Located 60 kilometres southwest of Chibougamau, Québec • Exercised option to increase undivided interest to 75% (from 51%) in December 2019 • Updated resource estimate1(
Slide 22: SEPTEMBER 2023 CORPORATE PRESENTATION
SEPTEMBER 2023 CORPORATE PRESENTATION 22
Slide 23: Appendix
SEPTEMBER 2023 CORPORATE PRESENTATION Appendix 23
Slide 24: Côté Gold: Q2 2023 Progress Report
SEPTEMBER 2023 CORPORATE PRESENTATION Côté Gold: Q2 2023 Progress Report OVERALL PROJECT PROGRESS ACTIVITIES UPDATE 5% 100% • Project Completion: 85.7% 4% 80% Monthly progress • Cumulative Health and safety: Total project hours of 11.5 million hours with a project TRIFR of 0.68. 3% 60% • Labour and
Slide 25: Côté Gold: Expenditures & Cost to Complete
SEPTEMBER 2023 CORPORATE PRESENTATION Côté Gold: Expenditures & Cost to Complete INCURRED PROJECT CAPITAL SPEND3 600 Q2 PROJECT EXPENDITURES Incurred project expenditures of $270.1 million (@100%) | $189.1 million (@70%) in Q2 at average $ million USDCAD exchange rate of 1.35 • JV Funding and Amendi
Slide 26: Sumitomo Agreement: Funding with an Option to Repurchase
SEPTEMBER 2023 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: Project Costs
SEPTEMBER 2023 CORPORATE PRESENTATION Côté Gold: Project Costs 43-101 PROJECT COST UPDATE1 REMAINING SPEND TO COMPLETE (as of May 1, 2022) as of May 1, 2022 as of October 1, 2022 @ 100% PROJECT COSTS (US$ million)1 43-101 IAMGOLD Procurement 343 Costs to complete attributable Remaining spend to comp
Slide 28: Côté Gold: Mining
SEPTEMBER 2023 CORPORATE PRESENTATION Côté Gold: Mining MATERIAL MOVEMENT 80,000 OVERVIEW 70,000 Open-pit drill, blast, load and haul averaging 60 Mtpa over LOM 60,000 • Drill/Blast: Autonomous Epiroc PV-231 blasthole drills 50,000 Tonnes (000 t) • Load: CAT 6060 electric/hydraulic shovels & CAT 994
Slide 29: Côté Gold: Processing
SEPTEMBER 2023 CORPORATE PRESENTATION Côté Gold: Processing OVERVIEW THROUGHPUT & GRADE 37,200 tpd Crush/HPGR/Grind/Leach/CIP Processing Plant 16,000 1.60 • Average recoveries of 91.8%, recovery by gravity of 23% 14,000 1.40 • HPGR and grinding target final product size of P80 100 μm 12,000 1.20 • C
Slide 30: Côté Gold: Operating Costs
SEPTEMBER 2023 CORPORATE PRESENTATION Côté Gold: Operating Costs OPERATING & UNIT COSTS OPERATING COSTS LOM $/tonne $/tonne $/oz Mining costs (gross) of $2.62/t material mined $M material processed sold Mining costs (net, excluding CWS) of $6.20/t processed ore Mining (gross costs incl. CWS)1 $2.62
Slide 31: Essakane Gold Mine, Burkina Faso
SEPTEMBER 2023 CORPORATE PRESENTATION Essakane Gold Mine, Burkina Faso 31
Slide 32: Essakane – Overview
SEPTEMBER 2023 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 ~20271 Essakane 3.0 Strip ratio NIGER 2022 Performance2 2023 Guidance2,3 2022 Capital costs2,3 M tonnes 35 MALI 432,000 oz 340,000
Slide 33: Westwood Complex, Canada
SEPTEMBER 2023 CORPORATE PRESENTATION Westwood Complex, Canada 33
Slide 34: Westwood – Overview
SEPTEMBER 2023 CORPORATE PRESENTATION Westwood – Overview OWNERSHIP: 100% IAMGOLD MINING Mine type Start-up Mine life 1200 Underground | Satellite OP 2014 ~2033+1 800 M tonnes 2022 Performance2 2023 Guidance2,3 2022 Capital costs2,3 North America 67,000 oz 70,000 – 90,000 oz $45M sustaining 400 (‘22
Slide 35: Westwood – “Hub-and-Spoke” Potential
SEPTEMBER 2023 CORPORATE PRESENTATION Westwood – “Hub-and-Spoke” Potential FAYOLLE PROPERTY (OP) 100% ACQUIRED FROM MONARCH GOLD (2020) • ~35 km northeast of Rouyn-Noranda and ~29 10 km km northwest from Westwood Fayolle Property • 39 mineral claims covering an area of 1,373 hectares (14 km2) • Reso
Slide 36: Bambouk District: Boto – Karita – Diakha-Siribaya
SEPTEMBER 2023 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 $282 million6 with close expected by Q2
Slide 37: Hedge Portfolio: Foreign Currency and Oil Derivatives
SEPTEMBER 2023 CORPORATE PRESENTATION Hedge Portfolio: Foreign Currency and Oil Derivatives (as at June 30, 2023) 2023 2024 Foreign Currency1 Canadian dollar contracts2 (millions of C$) 310 163 Rate range (USDCAD) 1.30 – 1.46 1.30 – 1.32 Hedge ratio3 42% 21% Commodities4 Brent oil contracts (barrels
Slide 38: Gold Prepayment – Illustrative Impact
SEPTEMBER 2023 CORPORATE PRESENTATION Gold Prepayment – Illustrative Impact PREPAYMENT ARRANGEMENT STRUCTURE GOLD PREPAY RECOGNITION • Cash proceeds received up front in return for obligation to unit 2019 2022 2024 deliver ounces at a later date Illustrative gold price US$/oz $1,300 $1,800 $1,800 •
Slide 39: Gold Mineral Reserves – 100% Basis
SEPTEMBER 2023 CORPORATE PRESENTATION 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
Slide 40: Gold Mineral Reserves – Attributable
SEPTEMBER 2023 CORPORATE PRESENTATION 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
Slide 41: Gold Mineral Resources – 100% Basis
SEPTEMBER 2023 CORPORATE PRESENTATION 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
Slide 42: Gold Mineral Resources – Attributable
SEPTEMBER 2023 CORPORATE PRESENTATION 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 T
Slide 43: Notes to the Gold Mineral Resources Statement
SEPTEMBER 2023 CORPORATE PRESENTATION 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 re
Slide 44: Graeme Jennings, VP, Investor Relations
SEPTEMBER 2023 CORPORATE PRESENTATION Graeme Jennings, VP, Investor Relations 416-388-6883 TSX: IMG l NYSE: IAG l www.iamgold.com