Iamgold Corporation · TSX:IMG
Iamgold — Investor Presentation (December 2022)
40 slides from Iamgold's investor presentation, December 2022
Slide 1: Corporate Presentation
NOVEMBER 2022 CORPORATE PRESENTATION CORPORATE PRESENTATION TSX: IMG l NYSE: IAG December 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
NOVEMBER 2022 CORPORATE PRESENTATION Cautionary Statement CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION Statements included in this news release, including any with respect to the Company’s future financial or operating performance and other statements that express management’s expectat
Slide 3: Technical Information and Qualified Persons
NOVEMBER 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
NOVEMBER 2022 CORPORATE PRESENTATION IAMGOLD – Building a Leading High-Margin Gold Producer FOCUSING ON PROFITABILITY COMMITMENT TO ESG • Increased 2022 production guidance to 650,000 – 705,000 • Zero Harm® commitment and focus on safety, while ounces, up from 570,000 – 640,000 ounces previously bui
Slide 5: Projects Overview
NOVEMBER 2022 CORPORATE PRESENTATION Projects Overview ESSAKANE WESTWOOD ROSEBEL ANNOUNCED SALE TO ZIJIN MINING Burkina Faso, West Africa Quebec, Canada Suriname, South America (90% Ownership) (100%) (95% RGM | 66.5% Saramacca3) PRODUCTION Start-up 2010 2014 2004 (Saramacca H2 20) Mine type Open pit
Slide 6: Environmental, Social and Governance
NOVEMBER 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 ES
Slide 7: Operations
NOVEMBER 2022 CORPORATE PRESENTATION Operations OPERATING RESULTS Q3/22 Q2/22 YTD 2022 YTD 2021 STRONG PRODUCTION PERFORMANCE YTD 2022 Essakane (90%) koz 115 107 334 314 Gold production of 528,000 ounces (attributable) Rosebel (95%) koz 50 49 145 112 • Production of 184,000 ounces in Q3 2022 was hig
Slide 8: 2022 Guidance Increased
NOVEMBER 2022 CORPORATE PRESENTATION 2022 Guidance Increased SUSTAINING EXPANSION GOLD PRODUCTION1 (attributable ounces) CAPEX2,3 CAPEX2,3 ($M, incl. capitalized stripping) ($M) UPDATED ACTUAL YTD PRIOR GUIDANCE ACTUAL UPDATED PRIOR ACTUAL UPDATED PRIOR GUIDANCE Essakane 334,000 410,000 – 430,000 36
Slide 9: Financial Results
NOVEMBER 2022 CORPORATE PRESENTATION Financial Results QUARTERLY FINANCIAL HIGHLIGHTS Q3 FINANCIAL PERFORMANCE (In $ millions, unless otherwise stated) Q3 2022 Q2 2022 YTD 2022 YTD 2021 Gold revenues of $343.3 million ($1,033.9 million YTD) from sales of 203,000 ounces (187,000 attributable) at an a
Slide 10: Côté Gold Quarterly Progress Report
NOVEMBER 2022 CORPORATE PRESENTATION Côté Gold Quarterly Progress Report Côté Gold: Côté Pit – Aug 2022 Processing plant interior – Oct 2022 Processing plant – Oct 2022 994K Loaders – July 2022 Assay Lab – Aug 2022 Primary/secondary crushing circuits – Oct 2022 10
Slide 11: Côté Gold: Quarterly Progress Report as at Sept 30, 2022
NOVEMBER 2022 CORPORATE PRESENTATION Côté Gold: Quarterly Progress Report as at Sept 30, 2022 ACTIVITIES UPDATE 64.2% 100% • Expended $158.9 million (incurred $159.0 million) in Q3 2022. project completion detailed engineering • Health and safety: Surpassed 6.9 million hours with no lost time injuri
Slide 12: Côté Gold Upcoming Milestones
NOVEMBER 2022 CORPORATE PRESENTATION Côté GoldUpcoming Milestones Côté Gold: 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 Côté Pit – Aug 2022 Q4/22 Processing plant interior – Aug 2022 Processing plant – A
Slide 13: Côté Gold: Gosselin
NOVEMBER 2022 CORPORATE PRESENTATION Côté Gold: Gosselin • 15,000 m diamond drilling completed YTD 2022 of total 16,000 m campaign to further delineate and expand Gosselin mineralized envelope Côté Gold Project – Mineral Reserves & Resources (2022)2,3 • Gosselin zone adjoins the Côté deposit to the
Slide 14: Côté Gold: 43-101 Summary
NOVEMBER 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 attributable2) during the first six years following commercial prod
Slide 15: Liquidity Summary
NOVEMBER 2022 CORPORATE PRESENTATION Liquidity Summary LIQUIDITY LIQUIDITY (as of September 30, 2022) $282 Total liquidity1 of $637 million Cash and equivalents (incl. ST investments) of $536.1 million $360 • As at September 30, 2022, $237.8 million of cash and cash equivalents was $ million +100.7
Slide 16: Sumitomo Agreement: Funding with an Option to Repurchase
NOVEMBER 2022 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 17: Essakane Gold Mine, Burkina Faso
NOVEMBER 2022 CORPORATE PRESENTATION Essakane Gold Mine, Burkina Faso 17
Slide 18: Essakane – Overview
NOVEMBER 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 410,000 – 430,00
Slide 19: Rosebel Gold Mine, Suriname
NOVEMBER 2022 CORPORATE PRESENTATION Rosebel Gold Mine, Suriname 19
Slide 20: Rosebel – Overview
NOVEMBER 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 Perfor
Slide 21: 2022 Rosebel Updated Life-of-Mine Plan
NOVEMBER 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 inc
Slide 22: Westwood Complex, Canada
NOVEMBER 2022 CORPORATE PRESENTATION Westwood Complex, Canada 22
Slide 23: Westwood – Overview
NOVEMBER 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 65,000 – 75,000 oz $30M sustaining 400 (‘21
Slide 24: Westwood – “Hub-and-Spoke” Model
NOVEMBER 2022 CORPORATE PRESENTATION Westwood – “Hub-and-Spoke” Model ATTRACTIVE DISTRICT EXPLORATION POTENTIAL1 THAT COULD SUPPLEMENT EXCESS MILL CAPACITY FAYOLLE PROPERTY (OP) A B ROUYN GOLD PROJECT (UG) 100% ACQUIRED FROM MONARCH GOLD (2020) A Fayolle OPTION TO ACQUIRE 100% FROM YORBEAU RESOURCES
Slide 25: Development and Exploration Projects
NOVEMBER 2022 CORPORATE PRESENTATION Development and Exploration Projects 25
Slide 26: Advancing Exploration Activities in Key Districts
NOVEMBER 2022 CORPORATE PRESENTATION Advancing Exploration Activities in Key Districts • Robust exploration program focused on unlocking value in key districts 2022 EXPLORATION BUDGET1 Côté District • Declining industry reserves and resources highlight the challenge to access Other quality explorati
Slide 27: Chibougamau: Emerging Prospective District in Québec, Canada
NOVEMBER 2022 CORPORATE PRESENTATION Chibougamau: Emerging Prospective District in Québec, Canada NELLIGAN (75% JV INTEREST) • Located 60 kilometres southwest of Chibougamau, Québec • Exercised option to increase undivided interest to 75% (from 51%) in December 2019 • Completed initial resource esti
Slide 28: Appendix
NOVEMBER 2022 CORPORATE PRESENTATION Appendix 28
Slide 29: Côté Gold: Updated LOM Plan Highlights
NOVEMBER 2022 CORPORATE PRESENTATION Côté Gold: Updated LOM Plan Highlights Côté Gold3,4 Côté Gold3,4 @ 100% @ 100% Operations Operating Costs US$ Mine Life years 18 Cash costs2 $/oz Au $699 Total Ore Tonnes Mined kt 236,000 Cash costs2 (Years 1 – 6) $/oz Au $591 Total Waste Tonnes Mined kt 568,000
Slide 30: Côté Gold: Project Costs
NOVEMBER 2022 CORPORATE PRESENTATION Côté Gold: Project Costs 43-101 PROJECT COST UPDATE1 REMAINING SPEND TO COMPLETE (as of May 1, 2022) as of May 1, 2022 as of October 1, 2022 @ 100% PROJECT COSTS (US$ million)1 43-101 IAMGOLD Procurement 343 Costs to complete attributable Remaining spend to compl
Slide 31: Côté Gold: Mining
NOVEMBER 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
NOVEMBER 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 • Cl
Slide 33: Côté Gold: Operating Costs
NOVEMBER 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 $2.62 •
Slide 34: Hedge Portfolio: Foreign Currency and Oil Derivatives
NOVEMBER 2022 CORPORATE PRESENTATION Hedge Portfolio: Foreign Currency and Oil Derivatives (as at September 30, 2022) 2022 2023 2024 Foreign Currency1 Canadian dollar contracts2 (millions of C$) 183 425 163 Rate range (USDCAD) 1.28 – 1.48 1.30 – 1.46 1.32 Hedge ratio3 60% 30% 20% Commodities4 Brent
Slide 35: Hedge Portfolio: Gold Bullion Contracts
NOVEMBER 2022 CORPORATE PRESENTATION Hedge Portfolio: Gold Bullion Contracts (as at September 30, 2022) Put Call 2022 2023 2024 $/ounce 000s of ounces Zero cost collars (1) $1,704 $2,297 10 93 – Zero cost collars (2) $1,850 $1,990 – 75 – Zero cost collars (2) $1,850 $2,175 – 15 – Zero cost collars (
Slide 36: Gold Prepayment – Illustrative Impact
NOVEMBER 2022 CORPORATE PRESENTATION Gold Prepayment – Illustrative Impact PREPAYMENT ARRANGEMENT STRUCTURE GOLD PREPAY RECOGNITION • Cash proceeds received up front in return for obligation to unit 2019 2022 2024 deliver ounces at a later date Illustrative gold price US$/oz $1,300 $1,800 $1,800 • S
Slide 37: Gold Mineral Reserves – Attributable
NOVEMBER 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
Slide 38: Gold Mineral Resources – Attributable
NOVEMBER 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 To
Slide 39: Notes to the Gold Mineral Resources Statement
NOVEMBER 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 re
Slide 40: Graeme Jennings, VP, Investor Relations
NOVEMBER 2022 CORPORATE PRESENTATION Graeme Jennings, VP, Investor Relations 416-388-6883 TSX: IMG l NYSE: IAG l www.iamgold.com