Iamgold Corporation · TSX:IMG
Iamgold — Corporate Update (February 2011)
36 slides from Iamgold's corporate update, Feb 11, 2011
Slide 1: Essakane Tour
2/11/2011 Essakane Tour February 11, 2011 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 (incl
Slide 2: Introduction
2/11/2011 Introduction PRESENTERS Bob Tait, Vice-president Investors Relations Langis St-Pierre, General Manager Essakane SA. Francis Clouston, Chief Geologist Essakane SA. TABLE OF CONTENTS Iamgold – corporate presentation Essakane Overview Mining Milling Construction Exploration
Slide 3: Cautionary Statement
2/11/2011 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, state
Slide 4: Zero Harm; Sources of Funding
2/11/2011 Zero Harm IAMGOLD’s Health, Safety and Sustainability performance ranks 3rd in top 60 Canadian companies HEALTH & SUSTAINABILITY SAFETY Framework Framework Leadership Leadership Accountability Governance Stakeholder People Engagement Risk Performance Management Social Processes Stewardship
Slide 5: Competitive Advantages; Strategic Focus
2/11/2011 Competitive Advantages Superb senior leadership Proven operational expertise Strong balance sheet Base of world-class mines Experienced in key regions with good growth potential Technically strong and mobile workforce 9 Strategic Focus BROWNFIELD GREENFIELD OPPORTUNITIES OPPORT
Slide 6: Planned Capital Expenditures
2/11/2011 Planned Capital Expenditures millions $ 400 350 25 300 54 250 191 132 200 92 150 23 38 100 139 146 98 13 50 95 20 13 39 5 16 22 4 15 0 Essakane Westwood Sadiola Rosebel Niobec Mupane Other 2011 2012 2013 11 2011 Capital Expenditures Westwood - $146M Deepening shaft Developing drift lev
Slide 7: Production Gold Profile
2/11/2011 Production Gold Profile 3-Year Production Profile of IAMGOLD-Operated Mines 000s ounces 1,000 900 800 380-400 700 370-390 600 310-330 Essakane 122 Rosebel 500 Westwood 400 360-380 Mouska Mupane 300 395 360-380 390-410 200 80 130-150 100 119 33 25-30 55-60 30-35 18 57 40-45 15 15-25 0 Q4'10
Slide 8: Rosebel Suriname
2/11/2011 Rosebel SURINAME IMG Ownership: 95% AttributableReserves & Resources (oz) P&P Reserves1 5,892,000 M&I Resources2 7,531,000 Inferred Resources 609,000 Attributable production (oz) Attributable Gold Production 000’s ozs 2010 395,000 2010 Q4 119,000 400 2009 392,000 392 395 300 315 Cash Cost
Slide 9: Essakane Burkina Faso
2/11/2011 Essakane BURKINA FASO IMG Ownership: 90% Attributable Reserves & Resources (oz) P&P Reserves1 4,015,000 M&I Resources2 4,351,000 Inferred Resources 1,503,000 Attributable production (oz) 2010 (July 16-Dec. 31) 122,000 Commercial production achieved LOM annual production (E) 315,000 July
Slide 10: Essakane Expansion; Westwood Canada
2/11/2011 Essakane Expansion Decision announced on Oct. 20, 2010 to launch feasibility study to expand mine CURRENT PLAN WITH EXPANSION1 Processing Processing First 3 years: soft rock at 9Mtpa First 3 years: soft rock at 9Mtpa Subsequent 9 years: hard rock at 5.4Mtpa Subsequent 9 years: hard rock at
Slide 11: Exploration & Development; Mali – Kalana JV
2/11/2011 Exploration & Development 2011 greenfield budget: $43.5M Record 118,000 m drilling 46,425 m AC drilling at Essakane Essakane New drill targets and potential expansion of Essakane’s reserves & resources High priority target identifed south of Falagountou deposit Rosebel Regional E
Slide 12: Mali – Siribaya JV; Senegal – Daorala-Boto & Bambadji
2/11/2011 Mali – Siribaya JV 2010 Budget – $3.7 million Senegal 563km2 land package Maiden Resource Guemedji Trend Indicated: 308Koz at 2.39 g/t Au Mali Boto Inferred: 70Koz at 2.29 g/t Au (100% IMG) SiribayaTrend Merrex - IMG Option Agreement Zone 1B Resource Area signed December 2008 Sir
Slide 13: Essakane History
2/11/2011 Essakane SA Mine Langis St-Pierre General Manager Essakane History 1985 Discovery of Essakane by “orpailleurs” (artisanal miners) 1992 BUMIGEB constructed heap leach plant 1993 CEMOB / BHP Minerals exploration 1996 CIMC secured title 2000 Bankruptcy of CEMOB 2001 Exploration by Ranger Mine
Slide 14: Essakane Location; Essakane Overview
2/11/2011 Essakane Location Essakane BURKINA FASO North Eastern Burkina Faso Mine located 330 km NE of the Capital Country is a stable democracy with strong Ouagadougou, in Sahel Zone support from the World Bank Similar geology to Mali and Ghana French is the official language Six other
Slide 15: Impact of Essakane on IAMGOLD and Burkina Faso
2/11/2011 Impact of Essakane Essakane BURKINA FASO on IAMGOLD and Burkina Faso Represents more than 25% of current proven and probable reserves Essakane Mine will represent over 35% of current IAMGOLD gold production Estimated Cash cost is lower than company average mainly due to low stripping
Slide 16: Essakane Local Residents
2/11/2011 Essakane Local Essakane BURKINAResidents FASO Population of 15,000 people in an area of 50km 2 Eight small traditional hamlets and one “orpaillage” village Blend of population Nomadic peuhl, semi-nomadic bellas, Songhaïs farmers, various populations from Burkina and other countries
Slide 17: Health, Safety & Sustainability
2/11/2011 Health, Safety Essakane & Sustainability BURKINA FASO International standards and best practices used for all parts of construction and now in the operations; including environmental protection and health and safety. Good health & safety performance for 2010 of 0.64; 8 LTI during the y
Slide 18: Mining Permits
2/11/2011 Mining Reserves and Resources Mining Permits Essakane BURKINA FASO mEE mE mE 190000 mE mE 185000 mE 180000 mE 195000 m 195000 190000 185000 180000 1595000 1595000 mN mN 1595000 1595000 mN mN C C D D A A B B EE FF Falagountou 1590000 1590000 mN mN 1590000 1590000 mN 1590000 1590000 mN mN
Slide 19: Cross-section 52025N
2/11/2011 Cross-section 52025N Essakane BURKINA FASO W June 09 Pit Design – $700/oz E Surface 9 008 0 20 2 in DD Whittle Shell Using d ne Indicated + Inferred n Pl a $700/oz Main Argillite Section 52025N Main Argillite Indicated Inferred Whittle Shell Pit Design 2.2 g Au/t over 39.5 m 2.5 km Main Ar
Slide 20: Tonnage and Mill Availability since commercial production
2/11/2011 Tonnage since Essakane commercial BURKINA FASO production 39 Mill availability Essakane BURKINA FASO 40 20
Slide 21: Gold Production since commercial production
2/11/2011 Gold Production Essakane since commercial production BURKINA FASO 41 Essakane SAG mill VFD Nov. 1 On restart from power failure, Variable Frequency Drive fails Nov. 14 Announced mill restart on back-up power from ball mill Nov. 16 Resumed operation of original configuration of
Slide 22: Milling; Process Plant
2/11/2011 Milling Process Plant (SAG + Ball Mill) Throughput and Capacity Costs Process Plant Conventional Carbon-In-Leach (CIL) gold recovery plant Capacity 7.5Mtpa with oxides and transition ore, 5.4Mtpa with fresh ore Average Gold Recovery 94% (varies with ore type and grade) High g
Slide 23: Mill Schedule; Project Cost Summary
2/11/2011 Mill Schedule Mill Feed Mill feed composition: 24% Saprolite, 21% Transition, 55% Rock Average LOM mill recovery of 94% Average LOM Grade: 1.54 g/t Gold production of 3.2M ounces Estimated Accelerated Schedule September 2009 Tonnage Grade Recov. Gold Prod. Year (Mt) (g/t Au) % (k
Slide 24: Opportunities
2/11/2011 Essakane SA Mine Resources development and exploration Francis Clouston Chief Geologist Opportunities Essakane BURKINA FASO Huge exploration opportunities Potential for increased throughput Increasing gold price Set-up high standards in H&S and operation High profile project with
Slide 25: Essakane – 2011 Exploration Objectives
2/11/2011 Essakane – 2011 Exploration Objectives 1,366 km 2 of prospective lands Budget $3.9M expensed $13.9M capitalized (Exploration and Resource Devel.) Exploration 51,100m DD and RC drilling 34,500m Air Core drilling over sand covered areas Resource Delineation 72,000m DD and RC
Slide 26: Gold coarseness
2/11/2011 Vein-hosted gold 51 Gold coarseness ERC1078D (89-90) 2mm ERC 1052 (33-34) 2mm 52 26
Slide 27: Grade control
2/11/2011 Grade control Equipment Two Atlas-Copco ROC L8, Ø 145mm track-mounted RC drill rigs Boart-Longyear CatMax or Hutte track-mounted RC drill rigs available if required. Wenco dispatching system checked against truck count for each packet Pit controllers at each excavator Face mapping and samp
Slide 28: Section 51875N; Section 51850N
2/11/2011 Section 51875N Arenite Argilite Intrusive rocks 850$ Pit 1200$ Pit 55 Section 51850N Arenite Argilite Intrusive rocks 850$ Pit 1200$ Pit 56 28
Slide 29: 2011 Planning
2/11/2011 2011 Planning 2011 phase 3 will focus on promising MII 1200$ Pit targets: Initial 850 $ Pit • 19755 m DD (fold axis and some areas Today’s pit of eastern limb in depth EMZ) • 4820 m RC: oxides north EMZ and satellite pits Phase 3 should be complete by end of April 2011 57 2011 Planning Exa
Slide 30: 2011 Resource Development Targets
2/11/2011 2011 Mine Resource Devel. targets (EMZ) North (10,000m DD / 15,000m RC)* Main (20,000m DD)* * incl.Expansion Study drilling 59 2011 Res. Devel. Targets (FALAGOUNTOU) Takabangou Tin Taradat Tin Zoubaratan Gossey Bom Kodjele Korizena Falagountou 287,000 oz Indicated @1.39 g/t Au Essakane (10
Slide 31: Nuggetty deposit; Essakane Exploration Projects
2/11/2011 Nuggetty deposit Sampling expert Francis Pitard’s conclusions (January 2011): • Essakane is in top 15% of most difficult gold deposits in the world • Using Leachwell is most appropriate assaying method • Collect bigger samples (>10 kg) • Optimise gravity recovery circuit • Few ore blocks a
Slide 32: West Africa Exploration
2/11/2011 Exploration Essakane Area West Africa Exploration West Africa Geology Exploration Projects : ¾ Senegal – Boto ¾ Mali – Siribaya ¾ Mali – Kalana ¾ Burkina – Essakane Neo/Mesoproterozoic and Phanerozoic Birimian Sediments Birimian Volcanics Granite / Gneiss Archaean Archaean Granite / Gneiss
Slide 33: Mine Lease - Essakane Main Zone (EMZ)
2/11/2011 Essakane Essakane Inata Taparko Kalsaka Mana Youga Mesoproterozoic and Younger Birimian Sediments Birimian Volcanics Granite / Gneiss Gold Operation 65 Mine Lease - Essakane Main Zone (EMZ) EMZ north extension (exploration) Alluvium/Aeolian sand Resource Drilling EMZ West dump East dump Re
Slide 34: Essakane – Mine Lease Air Core Drilling
2/11/2011 Essakane – Mine Lease Air Core Drilling 3 priority targets identified Lao Target Gorouol Target within 4 to 7km of mill Multi-gram gold anomalies beneath surficial sands Falagountou Possible extension of Falagountou trend Falagountou Target 67 EDD0313: 12m @ 0.88g/t from 149.5m Pendi
Slide 35: EMZ South extension; Detailed Airborne survey
2/11/2011 EMZ South extension ERC1888: 2m @ 0.65g/t from1m 5m @ 0.88g/t from 9m ERC1886: 4m @ 1.01g/t from 127m ERC1876: 7m @ 1.43g/t from 91m ERC1875: 6m @ 0.43g/t from 153m Mine Lease ERC1861: 2m @ 5.08g/t from 106m ERC1860: 4m @ 1.0g/t from 106m Alkoma 2 69 Detailed Airborne survey Total Field Da
Slide 36: Airborne survey; Essakane Regional Targets
2/11/2011 Airborne survey – First Pass Interpretation Markoye Fault Dolerite dyke Intrusion (N. Coussaert – July 2010) 71 Essakane - Regional Targets (Historic Results) As > 100ppm Takabangou Tin Taradat 52 holes - 3,718m 23 holes - 1,460m TKC0975: 6m @ 5.12g/t Au TTC1699: 2m @ 1.35g/t Au TKC0965: 5