Iamgold Corporation · TSX:IMG
Iamgold — Investor Presentation (October 2022)
40 slides from Iamgold's investor presentation, October 2022
Slide 1: Corporate Presentation
OCTOBER 2022 CORPORATE PRESENTATION CORPORATE PRESENTATION TSX: IMG l NYSE: IAG October 2022 www.iamgold.com TSX: TSX:IMG IMG l l NYSE: NYSE:IAG IAG l l www.iamgold.com www.iamgold.com
Slide 2: Cautionary Statement
OCTOBER 2022 CORPORATE PRESENTATION Cautionary Statement CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION All information included in this presentation, including any with respect to the Company’s future financial or operating performance and other statements that express management’s expe
Slide 3: Technical Information and Qualified Persons
OCTOBER 2022 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 High-Margin Gold Producer
OCTOBER 2022 CORPORATE PRESENTATION IAMGOLD – Building a Leading High-Margin Gold Producer FOCUSING ON PROFITABILITY COMMITMENT TO ESG • 2022 gold production guidance of 570,000 – 640,000 • Zero Harm® commitment and focus on safety, while ounces building strong community partnerships • Prioritizing
Slide 5: Projects Overview
OCTOBER 2022 CORPORATE PRESENTATION Projects Overview ESSAKANE ROSEBEL WESTWOOD Burkina Faso, West Africa Suriname, South America Quebec, Canada (90% Ownership) (95% RGM | 66.5% Saramacca3) (100%) PRODUCTION Start-up 2010 2004 (Saramacca H2 20) 2014 Mine type Open pit Open pit Underground / Satellit
Slide 6: Environmental, Social and Governance
OCTOBER 2022 CORPORATE PRESENTATION Environmental, Social and Governance Since 2007 Zero Harm® is our commitment to continually strive to reach the highest standards in human health & safety, minimize our environmental footprint, and work co-operatively with our host communities • AA in the MSCI ESG
Slide 7: Operations
OCTOBER 2022 CORPORATE PRESENTATION Operations OPERATING RESULTS 2022 Q2/22 Q1/22 H1 2022 Guidance STRONG PRODUCTION PERFORMANCE IN H1 2022 Essakane (90%) koz 107 112 219 360 – 385 Gold production of 344,000 ounces (attributable) Rosebel (95%) koz 49 46 95 155 – 180 • Essakane continues to outperfor
Slide 8: Financial Results
OCTOBER 2022 CORPORATE PRESENTATION Financial Results QUARTERLY FINANCIAL HIGHLIGHTS Q2 FINANCIAL PERFORMANCE (In $ millions, unless otherwise stated) Q2 2022 Q1 2022 H1 2022 Gold revenues of $334.0 million ($690.6 million H1 2022) from sales of 185,000 ounces (170,000 attributable) at an average pr
Slide 9: 2022 Guidance
OCTOBER 2022 CORPORATE PRESENTATION 2022 Guidance SUSTAINING EXPANSION GOLD PRODUCTION1 (attributable ounces) CAPEX2,3 CAPEX2,3 (incl. capitalized stripping) Production expected to be stable over the year as planned grades normalize Essakane 360,000 – 385,000 to reserve grades partially offset by hi
Slide 10: Côté Gold Project
OCTOBER 2022 CORPORATE PRESENTATION Côté GoldProject Côté Gold Côté Pit – Aug 2022 Processing plant interior – Aug 2022 Processing plant – Aug 2022 994K Loaders – July 2022 Assay Lab – Aug 2022 CAT assembly laydown – July 2022 10
Slide 11: Côté Gold: Updated LOM Plan Highlights
OCTOBER 2022 CORPORATE PRESENTATION Côté Gold: Updated LOM Plan Highlights Côté Gold3,4 Côté Gold3,4 @ 100% @ 100% Operations Operating Costs US$ Mine Life years 18 Cash costs2 $/oz Au $699 Total Ore Tonnes Mined kt 236,000 Cash costs2 (Years 1 – 6) $/oz Au $591 Total Waste Tonnes Mined kt 568,000 A
Slide 12: Côté Gold: 43-101 Summary
OCTOBER 2022 CORPORATE PRESENTATION Côté Gold: 43-101 Summary OPERATIONS PRODUCTION & COSTS Mine life of 18 years with initial production expected in early 2024 600 $1,400 Average annual production of 495,000 ounces (320,500 ounces attributable) $1,200 500 during the first six years following commer
Slide 13: Côté Gold: Project Costs @ 100%
OCTOBER 2022 CORPORATE PRESENTATION Côté Gold: Project Costs @ 100% PROJECT COSTS (US$ million)1 REMAINING SPEND TO COMPLETE Procurement 343 Earthworks 575 as of May 1, 2022 as of July 1, 2022 Process 519 43-101 IAMGOLD Infrastructure 162 Costs to complete attributable Remaining spend to complete In
Slide 14: Côté Gold: Quarterly Progress Report
OCTOBER 2022 CORPORATE PRESENTATION Côté Gold: Quarterly Progress Report as at Jun 30, 2022 ~57% ~99% $149M $766M $667M project completion detailed engineering incurred in Q2 incurred to date1 expended to date1 ACTIVITIES UPDATE • Expended $172.4 million (incurred $148.9 million) in Q2 2022 • Mining
Slide 15: Côté Gold: Upcoming Milestones
OCTOBER 2022 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 Usage to Support Earthworks Q2/23 Ore Stockpile Build-Up (3.5 Mt) Q4/23
Slide 16: Côté Gold: Gosselin
OCTOBER 2022 CORPORATE PRESENTATION Côté Gold: Gosselin Côté Gold Project – Mineral Reserves & Resources (2022)2,3 • Gosselin zone adjoins the Côté deposit to the northeast with potential to further expand district-scale resources Attributable Tonnes Grade Contained Classification Contained (million
Slide 17: Liquidity Outlook
OCTOBER 2022 CORPORATE PRESENTATION Liquidity Outlook LIQUIDITY CÔTÉ REMAINING TO SPEND Total liquidity1 of $802 million as at June 30, 2022 As of July 1, 2022, the remaining attributable spend to complete the construction of the Côté Gold project is estimated to be between $1.2 – $1.3 billion Cash
Slide 18: Essakane Gold Mine, Burkina Faso
OCTOBER 2022 CORPORATE PRESENTATION Essakane Gold Mine, Burkina Faso 18
Slide 19: Essakane – Overview
OCTOBER 2022 CORPORATE PRESENTATION Essakane – Overview OWNERSHIP: 90% IAMGOLD; 10% Government of Burkina Faso MINING Mine type Start-up Mine life 70 3.0 Open Pit 2010 ~20271 Essakane NIGER 2021 Performance2 2022 Guidance2,3 2022 Capital costs2,3 M tonnes w:o 35 2.0 MALI 412,000 oz 360,000 – 385,000
Slide 20: Rosebel Gold Mine, Suriname
OCTOBER 2022 CORPORATE PRESENTATION Rosebel Gold Mine, Suriname 20
Slide 21: Rosebel – Overview
OCTOBER 2022 CORPORATE PRESENTATION Rosebel – Overview OWNERSHIP: Rosebel Concession (RGM): 95% IAMGOLD, 5% Government of Suriname | Saramacca UJV: 70% RGM, 30% Staatsolie (66.5% IAMGOLD effective1) MINING Mine type Start-up Mine life 70 7.0 Open Pit 2004 (Saramacca 2020) ~20332 6.0 5.0 2021 Perform
Slide 22: 2022 Rosebel Updated Life-of-Mine Plan
OCTOBER 2022 CORPORATE PRESENTATION 2022 Rosebel Updated Life-of-Mine Plan (100% basis) KEY PROJECT METRICS1 LOM PLAN (12 YEARS) • Updated Mineral Reserve estimate of 109 Mt at 1.1 g/t for 3.8 million ounces contained gold (100% basis, unless otherwise stated) Rosebel Mining • Updated mine plan inco
Slide 23: Westwood Complex, Canada
OCTOBER 2022 CORPORATE PRESENTATION Westwood Complex, Canada 23
Slide 24: Westwood – Overview
OCTOBER 2022 CORPORATE PRESENTATION Westwood – Overview OWNERSHIP: 100% IAMGOLD MINING Mine type Start-up Mine life 1,200 Underground | Satellite OP 2014 ~2033+1 800 2021 Performance2 2022 Guidance2,3 2022 Capital costs2,3 M tonnes North America 35,000 oz 55,000 – 75,000 oz $40M sustaining 400 (‘21
Slide 25: Westwood – “Hub-and-Spoke” Model
OCTOBER 2022 CORPORATE PRESENTATION Westwood – “Hub-and-Spoke” Model ATTRACTIVE DISTRICT EXPLORATION POTENTIAL1 THAT COULD SUPPLEMENT EXCESS MILL CAPACITY FAYOLLE PROPERTY (OP) A B ROUYN GOLD PROJECT (UG) 100% ACQUIRED FROM MONARCH GOLD (2020) A Fayolle OPTION TO ACQUIRE 100% FROM YORBEAU RESOURCES
Slide 26: Development and Exploration Projects
OCTOBER 2022 CORPORATE PRESENTATION Development and Exploration Projects 26
Slide 27: Advancing Exploration Activities in Key Districts
OCTOBER 2022 CORPORATE PRESENTATION Advancing Exploration Activities in Key Districts • Robust exploration program focused on unlocking value in key districts 2022 EXPLORATION BUDGET1 Côté District • Declining industry reserves and resources highlight the challenge to access Other quality exploratio
Slide 28: Bambouk District: Boto – Karita – Diakha-Siribaya
OCTOBER 2022 CORPORATE PRESENTATION Bambouk District: Boto – Karita – Diakha-Siribaya Boto Gold (90% ownership) Yatela Deposit Operation 1.6Moz • Along same trend as B2Gold’s Fekola Mine in Mali Sadiola RESERVES1 • Mining permit received in 2019 for a period of 20 years2 2.0Moz • 2019 Optimization S
Slide 29: Chibougamau: Emerging Prospective District in Québec, Canada
OCTOBER 2022 CORPORATE PRESENTATION Chibougamau: Emerging Prospective District in Québec, Canada NELLIGAN (75% JV INTEREST) • Located 60 kilometres southwest of Chibougamau, Québec • Exercised option to increase undivided interest to 75% (from 51%) in December 2019 • Completed initial resource estim
Slide 30: Appendix
OCTOBER 2022 CORPORATE PRESENTATION Appendix 30
Slide 31: Côté Gold: Mining
OCTOBER 2022 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 994K
Slide 32: Côté Gold: Processing
OCTOBER 2022 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 • Cla
Slide 33: Côté Gold: Operating Costs
OCTOBER 2022 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 $2.62 •
Slide 34: Hedge Portfolio: Foreign Currency and Oil Derivatives
OCTOBER 2022 CORPORATE PRESENTATION Hedge Portfolio: Foreign Currency and Oil Derivatives (as at March 31, 2022) 2022 2023 2024 Foreign Currency1 Canadian dollar contracts2 (millions of C$) 459 185 120 Rate range (USDCAD) 1.28 – 1.48 1.30 – 1.46 1.32 Hedge ratio3 52% 29% 14% Commodities4 Brent oil c
Slide 35: Hedge Portfolio: Gold Bullion Contracts
OCTOBER 2022 CORPORATE PRESENTATION Hedge Portfolio: Gold Bullion Contracts (as at March 31, 2022) Put Call 2022 2023 2024 $/ounce 000s of ounces Zero cost collars (1) $1,700 $2,366 28 93 – Zero cost collars (2) $1,850 $1,990 – 75 – Subtotal gold bullion contracts 28 168 – 2019 Prepay arrangement $1
Slide 36: Gold Prepayment – Illustrative Impact
OCTOBER 2022 CORPORATE PRESENTATION Gold Prepayment – Illustrative Impact PREPAYMENT ARRANGEMENT STRUCTURE GOLD PREPAY RECOGNITION • Cash proceeds received up front in return for obligation to unit 2019 2022 2024 deliver ounces at a later date Illustrative gold price US$/oz $1,300 $1,800 $1,800 • Se
Slide 37: Gold Mineral Reserves – Attributable
OCTOBER 2022 CORPORATE PRESENTATION Gold Mineral Reserves – Attributable As at December 31, 2021 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 1
Slide 38: Gold Mineral Resources – Attributable
OCTOBER 2022 CORPORATE PRESENTATION Gold Mineral Resources1,2 – Attributable (Measured & Indicated Resources are inclusive of Proven & Probable Reserves) As at December 31, 2021 MEASURED INDICATED MEASURED + INDICATED INFERRED Effective Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Ton
Slide 39: Notes to the Gold Mineral Resources Statement
OCTOBER 2022 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 rea
Slide 40: Investor Relations Contacts
OCTOBER 2022 CORPORATE PRESENTATION Graeme Jennings, VP, Investor Relations Philip Rabenok, Manager, Investor Relations 416-388-6883 647-967-9942 TSX: IMG l NYSE: IAG l www.iamgold.com