Iamgold Corporation · TSX:IMG
Iamgold — Investor Presentation (February 2024)
40 slides from Iamgold's investor presentation, February 2024
Slide 1: Corporate Presentation
FEBRUARY 2024 CORPORATE PRESENTATION CORPORATE PRESENTATION TSX: IMG l NYSE: IAG February 2024 www.iamgold.com TSX: IMG l NYSE: IAG l www.iamgold.com
Slide 2: Cautionary Statement
FEBRUARY 2024 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 e
Slide 3: Technical Information and Qualified Persons
FEBRUARY 2024 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 NI
Slide 4: IAMGOLD – Building a Leading Gold Producer
FEBRUARY 2024 CORPORATE PRESENTATION IAMGOLD – Building a Leading Gold Producer ESTABLISHING A STRONG FOUNDATION COMMITMENT TO ESG • Côté Gold: Potential to become 3rd largest gold mine in • Industry leader with its Zero Harm® commitment and focus Canada with production start in March 2024 on safety
Slide 5: Operations Overview
FEBRUARY 2024 CORPORATE PRESENTATION Operations Overview CONSTRUCTION PRODUCTION CÔTÉ GOLD ESSAKANE WESTWOOD Ontario, Canada Burkina Faso, West Africa Quebec, Canada (60% IMG | 40% SMM1) (90%) (100%) Start-up 2024 Start-up 2010 2014 Mine type Open pit Mine type Open pit Underground / Satellite OP Es
Slide 6: Responsibility & Accountability
FEBRUARY 2024 CORPORATE PRESENTATION Responsibility & Accountability ENVIRONMENTAL Since 2007 • Released inaugural TCFD report in 2023 outlining roadmap and GHG emission reduction targets • Targeting net positive biodiversity at all operations • Adherence and reporting to the TSM Water Stewardship P
Slide 7: 2023 Highlights
FEBRUARY 2024 CORPORATE PRESENTATION 2023 Highlights OPERATING RESULTS (continuing ops) Q4 2023 Q4 2022 2023 2022 PRODUCTION Essakane (90%) koz 108 98 372 432 Gold production (attr., cont. ops.) of 465,000 ounces | 136,000 ounces in Q4 • Essakane achieved Q4 production of 108,000 ounces Westwood (10
Slide 8: Financial Results
FEBRUARY 2024 CORPORATE PRESENTATION FINANCIAL HIGHLIGHTS – continuing operations Financial Results (In $ millions, unless otherwise stated) Q4 2023 Q4 2022 2023 2022 LIQUIDITY (as at December 31, 2023) Revenues $297.6 $207.2 $987.1 $958.8 Cash and equivalents of $367.1 million and total liquidity1
Slide 9: Côté Gold
FEBRUARY 2024 CORPORATE PRESENTATION Côté Gold Côté Gold processing facilities – January 2024 Primary crusher – January 2024 Coarse Ore Dome – January 2024 HPGR – January 2024 Ball mill – January 2024 Tailing management facility – December 2023 9
Slide 10: Côté Gold: 43-101 Mine Plan Overview
FEBRUARY 2024 CORPORATE PRESENTATION Côté Gold: 43-101 Mine Plan Overview 80 MATERIAL MOVEMENT Operations @ 100%1 60 Mine Life years 18 Tonnes (Mt) 40 Total Ore Tonnes Mined kt 236,000 Strip ratio w:o 2.4 20 Total Ore Processed kt 233,000 0 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 Processing t
Slide 11: Côté Gold: Nearing Completion
FEBRUARY 2024 CORPORATE PRESENTATION Côté Gold: Nearing Completion 5% PROJECT CONSTRUCTION PROGRESS 100% PROJECT CONSTRUCTION PROGRESS CONSTRUCTION COMPLETION: 98% (@ Dec. 31, 2023) 4% 80% Monthly progress Health and safety: Total project hours of 14.8 million hours with a project TRIFR of 0.72. Cum
Slide 12: Côté Gold: 2024 Outlook
FEBRUARY 2024 CORPORATE PRESENTATION Côté Gold: 2024 Outlook 2024 CAPITAL EXPENDITURES (±5%) INITIAL PRODUCTION: 2024 PRODUCTION (100%): (ex-project construction & related) March 2024 220,000 – 290,000 oz Capitalized operating expenses during $40M commissioning & ramp up: COMMERCIAL PRODUCTION: CASH
Slide 13: Côté & Gosselin
FEBRUARY 2024 CORPORATE PRESENTATION CÔTÉ GOLD PROJECT – MINERAL RESERVES & RESOURCES (2023)1,3 Côté & Gosselin Tonnes Grade Contained (100%) Attributable Contained Classification (millions) (g/t Au) (Moz Au) (Moz Au) Côté deposit updated Mineral Reserves1 (100%) increased 6% or 436,000 ounces to 7.
Slide 14: Côté Gold: Large-Scale and Long-Life Mine
FEBRUARY 2024 CORPORATE PRESENTATION Côté Gold: Large-Scale and Long-Life Mine Top 12 Gold Mines in Canada by Production1 (koz) 28 20 18 17 5 14 10 7 10 6 10 9 690 38 Remaining life of mine (years)2 585 Mines acquired in last 10 years 3 495 5 M&I Mineral Resources 2 (inclusive of reserves) 438 420 6
Slide 15: Essakane Gold Mine, Burkina Faso
FEBRUARY 2024 CORPORATE PRESENTATION Essakane Gold Mine, Burkina Faso 15
Slide 16: Essakane
FEBRUARY 2024 CORPORATE PRESENTATION Essakane (100% basis, unless otherwise stated) Ore mined kt Q4 2023 3,217 Q4 2022 1,691 2023 9,586 2022 12,585 Material mined – total kt 12,910 10,486 43,349 49,685 Q4 2023 OPERATIONAL REVIEW Strip ratio w:o 3.0 5.2 3.5 2.9 Attributable production of 108,000 ounc
Slide 17: Updated Mine Plan
FEBRUARY 2024 CORPORATE PRESENTATION UPDATED MINE PLAN1 Essakane MINING & STRIP RATIO CAPITAL EXPENDITURES 50 4.0 200 UPDATED MINE PLAN1 3.0 150 Strip ratio Mine life extension to 2028 $ million M tonnes 25 2.0 100 • Mining will occur from three remaining pit phases in the Essakane Main Zone 1.0 50
Slide 18: Westwood Complex, Canada
FEBRUARY 2024 CORPORATE PRESENTATION Westwood Complex, Canada 18
Slide 19: Westwood Complex
FEBRUARY 2024 CORPORATE PRESENTATION Westwood Complex (100% basis, unless otherwise stated) Underground lateral development metres Q4 2023 1,263 Q4 2022 1,297 2023 5,271 2022 4,303 Ore mined – underground kt 77 64 280 241 Q4 2023 OPERATIONAL REVIEW Ore mined – other sources kt 162 216 742 836 Gold p
Slide 20: Westwood Complex
FEBRUARY 2024 CORPORATE PRESENTATION Westwood Complex +4800 UNDERGROUND DEVELOPMENT & REHABILITATION WEST CENTRAL EAST Underground lateral development of 5,271 m in 2023 CORRIDOR CORRIDOR CORRIDOR • Securing safe access to multiple ore faces at different levels in the mine, +4600 increasing operatio
Slide 21: Exploration Projects
FEBRUARY 2024 CORPORATE PRESENTATION Exploration Projects 21
Slide 22: Chibougamau: Emerging District
FEBRUARY 2024 CORPORATE PRESENTATION Chibougamau: Emerging District NELLIGAN (100%1 JV INTEREST) Nelligan 2022 Resource Pit Shell • Located 60 kilometres southwest of Chibougamau, Québec • Updated resource estimate2(on 100% basis): Cut-off Category Grade Tonnage Grade Contained Au (g/t Au) (Mt) (g/t
Slide 23: FEBRUARY 2024 CORPORATE PRESENTATION
FEBRUARY 2024 CORPORATE PRESENTATION 23
Slide 24: Appendix
FEBRUARY 2024 CORPORATE PRESENTATION Appendix 24
Slide 25: Sumitomo Agreement: Funding with an Option to Repurchase
FEBRUARY 2024 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 $2
Slide 26: Côté Gold: Review of 43-101 Costs
FEBRUARY 2024 CORPORATE PRESENTATION Côté Gold: Review of 43-101 Costs 2024 unit costs expected to be elevated above average 43-101 cost estimate PROCESSING MINING COSTS COSTS • due to inflation experienced in the industry and fixed costs being absorbed by fewer Other Other tonnes and ounces during
Slide 27: Longitudinal Section
FEBRUARY 2024 CORPORATE PRESENTATION Longitudinal Section Gosselin Zone Côté Resource Gosselin Pit Resource Pit Hydrothermal Breccia Priority Exploration (HdBx) Target for Hydrothermal Breccia GOS23-136 240.0 m grading 1.53 g/t Au GOS23-139 Incl. 120.0 m grading 2.26 g/t Au Côté 406.0 m grading 0.72
Slide 28: Côté + Gosselin Deposits – Geological Settings
FEBRUARY 2024 CORPORATE PRESENTATION Côté + Gosselin Deposits – Geological Settings Abitibi Belt: > 260 M Oz & Growing South Swayze Belt • 19+ Moz (& growing) • Historical - Numerous high-grade vein and shear zone hosted deposits Gold production within 175 km radius: • Timmins + KL + Matachewan 897,
Slide 29: Exploration Potential Objectives
FEBRUARY 2024 CORPORATE PRESENTATION ExplorationPotential Objectives for Côté type (intrusion related, breccia) disseminated mineralization and H-G Shear veins Extensive Property package of 596 km² JEROME MINE COTE DEPOSIT Jack Rabbit GOSSELIN DEPOSIT Clam Lake 29 29
Slide 30: 2023 – New Structural Corridor Theory
FEBRUARY 2024 CORPORATE PRESENTATION 2023 – New Structural Corridor Theory New Jack Rabbit / Theory Gomak Gosselin • Possibility that the main NE Côté trending structure through the Chester intrusive complex is the main mineralization trend. Straighter than originally Old thought. • E-W trending str
Slide 31: Essakane Gold Mine, Burkina Faso
FEBRUARY 2024 CORPORATE PRESENTATION Essakane Gold Mine, Burkina Faso 31
Slide 32: Essakane – Overview
FEBRUARY 2024 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 ~20281 Essakane Strip ratio NIGER 2023 Performance2 2024 Guidance2,3 2024 Capital costs2,3 M tonnes 35 2.0 MALI 372,000 oz 330,000
Slide 33: Westwood Complex, Canada
FEBRUARY 2024 CORPORATE PRESENTATION Westwood Complex, Canada 33
Slide 34: Westwood – Overview
FEBRUARY 2024 CORPORATE PRESENTATION Westwood – Overview OWNERSHIP: 100% IAMGOLD 1200 MINING Mine type Start-up Mine life Underground | Satellite OP 2014 ~2033+1 800 M tonnes 2023 Performance2 2024 Guidance2,3 2024 Capital costs2,3 North 400 America 93,000 oz 100,000 – 120,000 oz $65M sustaining (‘2
Slide 35: Westwood – “Hub-and-Spoke” Potential
FEBRUARY 2024 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) • Resou
Slide 36: Bambouk District: Boto – Karita – Diakha-Siribaya
FEBRUARY 2024 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: Gold Mineral Reserves – 100% Basis
FEBRUARY 2024 CORPORATE PRESENTATION Gold Mineral Reserves – 100% Basis As of December 31, 2023 PROVEN PROBABLE TOTAL RESERVES Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEPOSIT Type* Location Ownership (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) Burkina Essaka
Slide 38: Gold Mineral Resources – 100% Basis
FEBRUARY 2024 CORPORATE PRESENTATION Gold Mineral Resources1,2 – 100% Basis (Measured & Indicated Resources are inclusive of Proven & Probable Reserves) As of December 31, 2023 MEASURED INDICATED MEASURED + INDICATED INFERRED Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade O
Slide 39: Notes
FEBRUARY 2024 CORPORATE PRESENTATION Notes 39
Slide 40: Graeme Jennings, VP, Investor Relations
FEBRUARY 2024 CORPORATE PRESENTATION Graeme Jennings, VP, Investor Relations 416-388-6883 TSX: IMG l NYSE: IAG l www.iamgold.com