Iamgold Corporation · TSX:IMG
Iamgold — TD Mining Conference 2020
44 slides from Iamgold's conference presentation, Jan 22, 2020
Slide 1: TD Mining Conference
TD Mining Conference January 22, 2020 TSX: IMG l NYSE: IAG
Slide 2: Cautionary statement
Cautionary statement All information included in this presentation whether in narrative or chart form, including any information as to the Company’s future financial or operating performance, and other statements that express management’s expectations or estimates of future performance, other than s
Slide 3: Technical information and qualified persons
Technical information and qualified persons The mineral resource estimates contained in this news release have been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The "Qualified Person" responsible for the review and approval of all
Slide 4: Environmental, Social and Governance (ESG)
Environmental, Social and Governance (ESG) Strong • Implemented the Toward Sustainable Mining framework at all operations environmental, • Implementing the World Gold Council’s Responsible Gold Mining Principles social, and • Received highest level (GA-1) of Moody’s Corporate Governance for the Meta
Slide 5: Creating superior shareholder value
Creating superior shareholder value Reinforcing the model • Operating cost management to achieve positive cash- flow; Essakane, Burkina Faso • Capital expenditures reflect value-adding initiatives. Operational improvements at our current sites: • Debottleneck Essakane mill; • Essakane CIL/Heap Leach
Slide 6: Diversifying our portfolio
Diversifying our portfolio MAP OF OPERATING, DEVELOPMENT AND EXPLORATION PROJECTS ATTRIBUTABLE MEASURED AND INDICATED RESOURCES 32% NORTH AMERICA Westwood Côté Gold Nelligan 39% South America Monster Lake Africa CENTRAL AMERICA Eastern Borosi 29% North America SOUTH AMERICA WEST AMERICA Rosebel Essa
Slide 7: Maintaining a strong balance sheet
Maintaining a strong balance sheet MAINTAINING LIQUIDITY WELL ABOVE $1 BILLION Cash and cash equivalents1 $830 M Short-term investments $ 6M Available credit facility $500 M $1,336 M Total Liquidity As at December 31, 2019 Senior Notes Outstanding Coupon: 7%; Maturity: April 15, 2025 Corp Rating: B1
Slide 8: Ensuring a robust pipeline
Ensuring a robust pipeline FUTURE PRODUCTION AND GROWTH OPPORTUNITIES GROWTH OPPORTUNITIES • Gosselin (Côté), Ontario • Monster Lake, Quebec • Rouyn, Quebec • Karita, Guinea Saramacca, Suriname Mill Optimization, Burkina Faso Côté Gold Project, Ontario • Pitangui, Brazil Boto Gold Project, Senegal D
Slide 9: Attributable Reserves (Moz)
129% increase in reserves since 2016 20 17.9 Moz 18 16 14.5 Moz Reserve Increases5 Attributable Reserves (Moz) 1,2 Rosebel3: +1.3Moz 14 Côté: +0.9Moz 12 Essakane: +0.9Moz 10 7.8 Moz 8 6 4 2 0 2016 2017 2018 4 1 Mineral reserves have been estimated at December 31, 2017 and 2018 using a gold price of
Slide 10: Near term catalysts
Near term catalysts H1 2019 H2 2019 2020 ✓ $170 Million Gold Prepay Agreement ✓ Essakane CIL and Heap Leach o Saramacca Full Production and U/G ✓ Diahka-Siribaya Updated Resource Feasibility Study Evaluation ✓ Nelligan Initial Resource o Essakane Debottleneck ✓ Saramacca Production Targeted o Growth
Slide 11: Leveraging existing asset base
Leveraging existing asset base Photo: Wärtsilä January 22, 2020 11
Slide 12: 2020 production and cost guidance
2020 production and cost guidance TRANSITION YEAR AT ESSAKANE AND ROSEBEL ♦ WESTWOOD ADVANCES ♦ SADIOLA CEASES PRODUCTION Full Year Guidance1 Essakane (000s oz) 365 – 385 Rosebel (000s oz) 245 – 265 Westwood (000s oz) 90 – 110 Total attributable owner-operator production 700 – 760 (000s oz) Cost of
Slide 13: 2020 capex outlook
2020 capex outlook $millions Sustaining1 Non-Sustaining Total2 Essakane $40 $100 $140 Rosebel $55 $60 $115 Westwood $25 $25 $50 Owner-operator $120 $185 $305 Corporate and Development Projects - $10 $10 Total (±5%)3,4 $120 $195 $315 1 Sustaining capital includes capitalized stripping of $15 million
Slide 14: Rosebel Gold Mine, Suriname
Rosebel Gold Mine, Suriname January 22, 2020 14
Slide 15: Rosebel – overview
Rosebel – overview OVERVIEW KEY INITIATIVES Ownership • 95% IAMGOLD, 5% Government of Suriname To improve mined volumes, recoveries, communition, productivity and safety Mining • Conventional open pit performance. Method methods Increased Reserves & Resources Production • Began commercial Status pro
Slide 16: Road to Rosebel Mill
Road to Rosebel Mill January 22, 2020 16
Slide 17: Essakane Gold Mine, Burkina Faso
Essakane Gold Mine, Burkina Faso January 22, 2020 17
Slide 18: Essakane – overview
Essakane – overview OVERVIEW KEY INITIATIVES Ownership • 90% IAMGOLD, 10% Government of Burkina Faso CIL (carbon-in-leach) Debottlenecking Mining • Conventional drill, blast, load and • Improve throughput and gravity Method haul surface mining method recovery, $9M capex Production • Began commercial
Slide 19: CIL/HL feasibility study highlights
CIL/HL feasibility study highlights PRODUCTION PROFILE HIGHLIGHTS 600,000 PFS FS CIL (FS) HL (FS) Mining Capacity 70.0 Mtpa 55.0 Mtpa CIL (PFS) HL (PFS) CIL Milling Capacity (100% hard rock equivalent) 10.8 Mtpa 11.7 Mtpa 500,000 HL Processing Capacity 10.0 Mtpa 8.5 Mtpa HL Tonnage 61.9 Mt 43.1 Mt 4
Slide 20: Westwood Gold Mine, Canada
Westwood Gold Mine, Canada January 22, 2020 20
Slide 21: Westwood – overview
Westwood – overview OVERVIEW KEY INITIATIVES Ownership • 100% IAMGOLD Progressing Development Mining • Underground • Targeting safe, profitable, long life Method Production • Commenced commercial mine Status production July 2014 • Production guidance issued Q4’191 LOM • Mine life to 2033 • NI 43-101
Slide 22: Development projects
Development projects January 22, 2020 22
Slide 23: Côté Gold Ontario (64.75%)
Côté Gold Ontario (64.75%) OVERVIEW FEASIBILITY STUDY HIGHLIGHTS1 (100% Basis) Extended Case Base Case (FS) Location • Gogama, Ontario, 130 km southwest of Mine Capacity: Mine Capacity: Mining: open pit Timmins; 200 km northwest of Sudbury 70 Mtpa 62 Mtpa • Land package covering 500 km2 Mill Capacit
Slide 24: …with exploration potential
…with exploration potential GOSSELIN, YOUNG-SHANNON 1.5 KM NORTHEAST OF CÔTÉ Gosselin Drill Hole Highlights • GOS19-17: 342.5 metres grading 0.98 g/t Au • includes: 225.0 metres grading 1.34 g/t Au • GOS19-24: 412.0 metres grading 1.28 g/t Au • includes: 221.4 metres grading 1.47 g/t Au CONCEPTUAL P
Slide 25: Boto Gold Senegal (90%)
Boto Gold Senegal (90%) OVERVIEW RESERVE AND RESOURCE1 OPTIMIZATION STUDY HIGHLIGHTS1 (100% Basis) (100% Basis) Location • Senegal, West Africa Contained Mine Capacity: Tonnes Grade Mining: open pit Ounces 38 Mtpa Ownership • Along same trend as B2Gold’s Fekola (000) (g/t) (000 Au) Mine in Mali Mill
Slide 26: Exploration review
Exploration review January 22, 2020 26
Slide 27: Diakha-Siribaya Mali (90%)
Diakha-Siribaya Mali (90%) OVERVIEW RESOURCE1 (100% Basis) Highlights • Located approximately 10km Contained Tonnes Grade south along strike from the Boto Ounces (000) (g/t) Gold Project in Senegal (000 Au) • Resource ounces increased by Indicated 18,031 1.28 744 57% with a significant conversion to
Slide 28: Karita – along trend to Boto and Diakha
Karita – along trend to Boto and Diakha KARITA, GUINEA1 • Strategically located along the prolific Senegal-Mali shear zone between Boto Gold Project in Senegal to the north, and Diakha-Siribaya Project in Mali to the south. • Reported results from 2019 drilling program, comprising 16 reverse circula
Slide 29: Nelligan Gold Project – adding to district potential
Nelligan Gold Project – adding to district potential OVERVIEW RESOURCE (100% Basis) Location • Quebec, 60km South of Contained Tonnes Grade Chibougamau Ounces (000) (g/t) (000 Au) Ownership • 75% JV Interest, option to earn up to 80% interest Inferred1 96,990 1.02 3,194 Highlights • Located 15 km so
Slide 30: Monster Lake Quebec (75% JV Interest)
Monster Lake Quebec (75% JV Interest) OVERVIEW RESOURCE (100% Basis) Location • Quebec Contained Tonnes Grade Ounces Ownership • 75:25 JV with TomaGold (000) (g/t) (000 Au) Highlights • Continuing to better define Inferred1 1,110 12.14 433 and extend the 325-Megane VG Zone and evaluating newly disco
Slide 31: Re-seeding the pipeline
Re-seeding the pipeline West Africa North America South America Fala/Fala E Saramacca >5 Moz Au Production >2 Moz Au <2 Moz Au Boto Côté Feasibility Study Brownfield Advance Greenfield Greenfield Pre-feasibility Study Diakha-Siribaya Monster Lake Saõ Sebastiaõ Initial Resource / Gossey Nelligan East
Slide 32: IAMGOLD – building a cash flow pipeline
IAMGOLD – building a cash flow pipeline Our vision is to be the global leader in generating superior value for our stakeholders through accountable mining. 1 2 3 4 CREATING DIVERSIFYING MAINTAINING ENSURING superior our a strong a robust stakeholder value portfolio balance sheet pipeline • Operation
Slide 33: Appendix
Appendix # IAMGOLD January 22, 2020 33
Slide 34: Hedge position – Q4 2019
Hedge position – Q4 2019 2020 2021 2022 2023 2024 Foreign Currency Canadian dollar contracts (millions of C$) 186 Rate range1 ($/C$) 1.30 - 1.36 Hedge ratio 50% Commodities 2 Brent oil contracts (barrels) 3 573 588 420 420 Contract price range ($/barrel of crude oil) 50 - 65 54 - 65 53 - 65 53 - 65
Slide 35: Mineral reserves and resources
Mineral reserves and resources January 22, 2020 35
Slide 36: 2018 mineral reserves and resources
2018 mineral reserves and resources Mineral resources (“resources”) and mineral reserves (“reserves”) have been estimated as at December 31, 2018 pursuant to Canadian securities regulatory requirements, specifically the requirements of National Instrument 43-101 and the definitions of resources and
Slide 37: Gold mineral reserves
Gold mineral reserves1 100% BASIS RESERVES Proven Probable Contained Contained Tonnes Grade Tonnes Grade As at December 31, 2018 Ounces Ounces (000s) (g/t) (000s) (g/t) (000s) (000s) Rosebel 29,776 0.6 587 100,583 1.0 3,208 Saramacca — — — 26,549 1.8 1,542 Essakane — — — 148,812 0.9 4,380 Westwood 1
Slide 38: Gold mineral reserves (attributable)
Gold mineral reserves1 ATTRIBUTABLE RESERVES Proven Probable Contained Contained Tonnes Grade Tonnes Grade As at December 31, 2018 Ounces Ounces (000s) (g/t) (000s) (g/t) (000s) (000s) Rosebel (95%) 28,287 0.6 558 95,554 1.0 3,048 Saramacca (66.5%) — — — 17,655 1.8 1,025 Essakane (90%) — — — 133,931
Slide 39: Gold mineral resources
Gold mineral resources1,2 (Measured and indicated resources are inclusive of proven probable reserves) 100% BASIS RESOURCES Measured Indicated Inferred Contained Contained Contained As at December 31, 2018 Tonnes Grade Tonnes Grade Tonnes Grade Ounces Ounces Ounces (000s) (g/t) (000s) (g/t) (000s) (
Slide 40: Gold mineral resources (attributable)
Gold mineral resources1,2 (Measured and indicated resources are inclusive of proven probable reserves) ATTRIBUTABLE RESOURCES Measured Indicated Inferred Contained Contained Contained As at December 31, 2018 Tonnes Grade Tonnes Grade Tonnes Grade Ounces Ounces Ounces (000s) (g/t) (000s) (g/t) (000s)
Slide 41: Côté Gold Project – reserves & resources history
Côté Gold Project – reserves & resources history CÔTÉ GOLD – IMG ATTRIBUTABLE RESERVES & RESOURCES 10.0 1.0 9.0 0.9 30% share 8.0 sold to SMM. 0.8 Initial Reserve Declared 7.0 from PFS 0.7 Ore Grade (g/t Au) Ounces Au (Moz) 6.0 0.6 5.0 0.5 4.0 0.4 3.0 0.3 2.0 0.2 1.0 0.1 0 0 2012.02 2012.10 2012.YE
Slide 42: Notes
Notes # IAMGOLD January 22, 2020 42
Slide 43: Notes
Notes # IAMGOLD January 22, 2020 43
Slide 44: Indi Gopinathan, Martin Dumont – Investor Relations
Indi Gopinathan Martin Dumont Investor Relations Lead Senior Analyst, Investor Relations 416-360-4743 416-933-5783