Iamgold Corporation · TSX:IMG

Iamgold — Q1 2010 Earnings Presentation

20 slides from Iamgold's earnings presentation, May 7, 2010

  1. Slide 1: Q1 2010 Presentation

    Q1 2010 PRESENTATION May 7, 2010 Peter C. Jones President & CEO

  2. 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

  3. 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

  4. Slide 4: Strong Q1 2010

    Strong Q1 2010  Financial Performance  Operations  Project Development and Exploration  Essakane start-up is early and on budget 4

  5. Slide 5: Q1 2010 Financial Highlights

    Q1 2010 Financial Highlights 63% Adjusted net earnings 26% Operating cash flow 27% Revenues 5

  6. 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

  7. 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

  8. 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

  9. 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

  10. 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

  11. 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

  12. 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

  13. 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

  14. 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

  15. 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

  16. 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

  17. 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

  18. 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

  19. 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

  20. 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

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