Slide 1: Q1 2010 Presentation
Q1 2010 PRESENTATION May 7, 2010 Peter C. Jones President & CEO
Slide 2: Management Participants
Management Participants PETER C. JONES President & Chief Executive Officer P. GORDON STOTHART Executive Vice President & Chief Operating Officer CAROL T. BANDUCCI Executive Vice President & Chief Financial Officer LARRY E. PHILLIPS Executive Vice President, Corporate Affairs MICHAEL DONNELLY Senior
Slide 3: 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 4: Strong Q1 2010
Strong Q1 2010 Financial Performance Operations Project Development and Exploration Essakane start-up is early and on budget 4
Slide 5: Q1 2010 Financial Highlights
Q1 2010 Financial Highlights 63% Adjusted net earnings 26% Operating cash flow 27% Revenues 5
Slide 6: Q1 2010 Net Earnings
Q1 2010 Net Earnings millions $ millions $ Adjusted net earnings Q1 ’09 Q1 ’10 $60 51.3 $40 Net earnings $ 52.5 $ 58.8 31.5 $20 Gain on sale of gold bullion $ (30.7) - Gain on sales of marketable $0 securities - $ (6.9) Q1 '09 Q1 '10 Foreign exchange (gain) loss $ 8.2 $ (0.6) Orezone acqusition seve
Slide 7: Q1 2010 Operating Cash Flow
Q1 2010 Operating Cash Flow millions $ Operating cash flow millions $ $100 300 14.4 28.1 $80 77.5 85.5 $60 77.5 250 61.3 200 191.4 $40 169.7 $20 150 $0 100 Q1 '09 Q1 '10 50 Operating cash flow per share 0 Capitalized development Other capital spending Investments & other Q4'09 cash balance Q1'10 cas
Slide 8: Q1 2010 Revenues
Q1 2010 Revenues millions $ 240.1 $250 Revenues up 27% in Q1 ’10 vs Q1 ’09: 188.6 $200 26% rise in gold prices $41.1M $150 Increased sales volumes (higher sales at Rosebel partially offset by Doyon $100 mine closure) $1.9M $50 27% increase in niobium sales volume $8.5M $0 $51.5M Q1 '09 Q1 '10
Slide 9: Solid Financial Position
Solid Financial Position 5-Year Estimated Accumulated Operating Cash Flow millions $ vs. Capital Needs As at As at billions $ Dec. 31, Mar. 31, ~$2.1B 2009 2010 @$1,000/oz ~$1.8B @$900/oz Cash & ~$1.4B $300 $281 Bullion1 Operations ~$1.2B Sadiola Deeps @$700/oz Credit Essakane Facility $123 $332 Qui
Slide 10: Production
Production $/oz Gold margin Q1 ’09 Q1 ’10 $1,200 1,111 884 Gold Operating 587 Results $800 420 Gold production $400 524 212 206 464 (000 oz) $0 Gold price realized $884 $1,111 Q1 '09 Q1 '10 ($/oz) cost margin Cash cost $464 $524 ($/oz) $/kg Niobium margin Niobium Operating Results $20 22 $15 19 Niob
Slide 11: Rosebel Flagship and Further Expansion Potential
Rosebel Flagship and Further Expansion Potential Attributable Production Profile (000 oz) 500 400 300 200 100 0 2007 2008 2009 2010E Rosebel, Suriname, South America IMG Ownership 95% P&P Reserves (oz)1 4,840,000 Q1 2010 M&I Resources (oz)2 6,870,000 Inferred Resources (oz) 894,000 Higher gold pro
Slide 12: West African Joint Ventures
West African Joint Ventures Sadiola, Mali Yatela, Mali IMG Ownership: 41% IMG Ownership: 40% JV Partner: AngloGold Ashanti Updates JV Partner: AngloGold Ashanti Updates Reserves & Resources (oz) Reserves & Resources (oz) P&P Reserves1 1,457,000 Promising results from P&P Reserves1 44,000 Attribu
Slide 13: Other African Mines
Other African Mines Tarkwa, Ghana Damang, Ghana Mupane, Botswana IMG Ownership: 18.9% IMG Ownership: 18.9% IMG Ownership: 100% JV Partner: Goldfields Ltd. Updates JV Partner: Goldfields Ltd. Updates Updates Reserves & Resources (oz) Reserves & Resources (oz) Reserves & Resources (oz) P&P Reserves1 2
Slide 14: Niobec Expansion on Track
Niobec Expansion on Track million kg Nb Production profile 5 4 3 2 1 Niobec, Quebec, Canada 0 IMG Ownership 100% 2007 2008 2009 2010E M&I Resources (M kg Nb2O5)1 181.3 Inferred Resources (M kg Nb2O5) 219.1 Q1 ’10 margins affected by Cdn $ but remain at the Production (M kg Nb) 1.2 top end of our g
Slide 15: Essakane Advanced Start-Up Date
Essakane Advanced Start-Up Date Q1 2010 Ore processing will begin in June All construction milestones have been met Invested $56.4 M in Q1 Approximately 90% of total capex spent 2010 Essakane, Burkina Faso, Africa Production forecast at 500,000 oz from start-up to IMG Ownership 90% end of
Slide 16: Westwood Long Life, Low Cost
Westwood Long Life, Low Cost Q1 2010 Shaft depth: Q1 - 770 m, early May - 840 m Capex spend of C$24.5M in Q1 2010 Initiatives $102M expenditures planned Shaft to advance to 1,300 m Westwood, Quebec, Canada 71,500 m drilling program underway IMG Ownership 100% M&I Resources (oz)1 98,000 Inf
Slide 17: Exploration Program Overview
Exploration Program Overview REGIONS OF EXPLORATION ACTIVITY Aggressive Organic Growth Q1 2010 Expenditures of $16.2 M vs $8.3 M in Q1’09 First stages of drilling program at Rosebel Further drilling at Essakane Resource expansion drilling at Westwood Greenfield work on 15 early stage proje
Slide 18: Corporate Strategy
Corporate Strategy Focus on Value Creation Grow Gold Production & Reserves Successful development of existing projects Aggressive exploration for organic growth Accretive acquisitions Reduce Costs and Improve Efficiencies Operations & development project optimization Maintain Financial Stren
Slide 19: 'The year of Essakane' is only the beginning…
‘The year of Essakane’ is only the beginning… Continued Growth (000’s ounces) 1,400 1,200 1,000 800 600 400 200 0 2004 2005 2006 2007 2008 2009 2010F 2011F 2012F 2013F 2014F Africa Canada South America *Assumes: • Essakane start-up June 2010 • Sadiola Deeps start-up mid 2012 19 • Quimsacocha start-u
Slide 20: Q1 2010 Presentation
Q1 2010 PRESENTATION May 7, 2010 Carol T. Banducci Executive Vice President & Chief Financial Officer T: 416 360 4710 E: carol_banducci@iamgold.com Investor Relations: Jo Mira Clodman T: 416 360 4743 E: jomira_clodman@iamgold.com