Iamgold Corporation · TSX:IMG
Iamgold — NBF Africa Luncheon 2010
42 slides from Iamgold's conference presentation, Nov 23, 2010
Slide 1: West Africa
WEST AFRICA November 23, 2010 Steve Letwin Gordon Stothart President & CEO EVP & COO Larry Phillips Michael Donnelly EVP, Corporate Affairs SVP, Exploration
Slide 2: Cautionary Statement
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, statements rega
Slide 3: Corporate Overview
Corporate Overview IAMGOLD’s growth is strategically focused in West Africa, select countries in South America and in the Canadian provinces of Ontario and Québec 1 million oz gold producer1 Canadian company 8 Gold mines, 1 Niobium mine Westwood Development project 20+ Exploration projects
Slide 4: Zero Harm
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 Environme
Slide 5: Attributable Gold Production and Sales
Attributable Gold Production and Sales 000s oz 300 256 244 239 250 234 228 216 206 210 190 188 200 150 100 50 0 Q3'09 Q4'09 Q1'10 Q2'10 Q3'10 Gold Produced Gold sold 5
Slide 6: 2010 Operating Cash Flow
2010 Operating Cash Flow millions $ Operating cash flow Strong cash flow from operations will result from: $300 Essakane production and sales 257 $200 189.5 193.8 Mouska batch production $100 Rosebel gravity circuit and leach tank $0 improvements 2009 9-mos'09 9-mos'10 Niobec paste back fill
Slide 7: Solid Financial Position
Solid Financial Position 9 Strong balance sheet 9 Well positioned for growth Millions $ 700 578 593 600 500 423 400 350 350 123 300 200 300 100 228 243 0 As at Dec. 31 '09 Jun. 30 '10 Sep. 30 '10 Cash & Bullion1 Credit Facility available2 1 Bullion at market value 7 2 Available undrawn portion, cred
Slide 8: Reserves (Net of Depletion)
Reserves (Net of Depletion) Million of ounces 14.5Moz 14 12.4Moz 17% 12 10 8 6 4 2 0 2005 2006 2007 2008* 2009 Af rica Canada South America * Reserves as at Dec. 31, 2008 include Essakane acquired Feb. 25, 2009 8
Slide 9: West Africa
West Africa MAURITANIA W. Africa Office ESSAKANE Dakar SENEGAL YATELA MALI NIGER GAMBIA SADIOLA Ouagadougou Bamako GUINEA Siribaya BURKINA FASO BISSAU GUINEA BENIN Kalana SIERRA GHANA TOGO LEONE CÔTE D'IVOIRE LIBERIA DAMANG Accra Mines TARKWA Exploration Projects 9
Slide 10: Africa: Business Environment
Africa: Business Environment Larry Phillips Executive Vice President, Corporate Affairs
Slide 11: Why West Africa?
Why West Africa? Regional Continuity SENEGAL MALI BURKINA FASO Social & Fiscal Stability GHANA Long-Term Prospectivity & Opportunities 11
Slide 12: Why IAMGOLD in West Africa?
Why IAMGOLD in West Africa? Regional Competitive Advantage Strength in Partnerships/Relationships Unique affinity for the Francophone culture of the region Our origin and growth is rooted in exploration Entrepreneurial perspective The result is the discovery and development of the two larges
Slide 13: Africa Operations
Africa Operations Essakane Sadiola Yatela Gordon Stothart Executive Vice President & Chief Operating Officer
Slide 14: Essakane Location
Essakane Location Essakane Project Location: 350 km NE of the Capital Ouagadougou Located in arid, sub-Saharian Sahel zone 14
Slide 15: Essakane, Burkina Faso
Essakane, Burkina Faso IMG Ownership: 90% Attributable Reserves & Resources (oz) P&P Reserves1 3,871,000 M&I Resources2 4,266,000 Inferred Resources 1,869,000 Attributable production (oz) 2010 Q3 42,000 LOM annual production (E) 315,000 Commercial production achieved July 16, 2010 Cash Cost ($/oz)
Slide 16: Essakane SAG mill restarted
Essakane SAG mill restarted 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 SAG mill Produced over 30,000oz in October Confirmed annual productio
Slide 17: Next update with year-end R&R revision
Next update with year-end R&R revision 000s ounces *Indicated resources are inclusive of probable reserves 17
Slide 18: Essakane: 2010 Resource Delineation
Essakane: 2010 Resource Delineation MEDD0026 Section 52600N 50,000m in multi-phased program MEDD0031 2m @ 20.0g/t Au 6m @ 11.9g/t Au 85 DD holes and 155 RC holes planned MEDD0056 MEDD0061 MEDD0063 2m @ 11.4g/t Au Multi-phase 2010 drilling program: MEDD0059 4m @ 22.2g/t Au 6m @ 6.1g/t Au 2m @ 1
Slide 19: Essakane Expansion
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 9 Mtpa First 3 years: soft rock at 9 Mtpa Subsequent 9 years: hard rock at 5.4Mtpa Subsequent 9 years: hard rock at 10.8Mtp
Slide 20: Sadiola, Mali
Sadiola, Mali IMG Ownership: 41% JV Partner: AngloGold Ashanti Attributable Reserves & Resources (oz) P&P Reserves1 1,457,000 M&I Resources2 2,596,000 Inferred Resources 1,159,000 Attributable Production (oz) 2010 9-mos 89,000 ‘Back to Basics’ safety initiative 2010 Q3 30,000 2009 135,000 Promis
Slide 21: Sadiola Sulphide Project
Sadiola Sulphide Project Soft ore mining from current pits scheduled to end in 2016 IMG-driven Prefeasibility Study approved Oct. 2009 Different ‘vision’ than prior studies: owner mining, simpler processing, power from grid, higher gold price Finish Joint Feasibility Study Negotiations for
Slide 22: Sadiola Sulphide Project
Sadiola Sulphide Project Resource definition drilling campaign (7,850m) Condemnation drilling campaign (2,900m RC) Inferred resources converted to measured and indicated New hard rock plant required to complement existing facility: Flexible plant arrangement based on ore feed Test work c
Slide 23: Yatela, Mali
Yatela, Mali IMG Ownership: 40% JV Partner: AngloGold Ashanti Attributable Reserves & Resources (oz) P&P Reserves1 44,000 M&I Resources2 126,000 Inferred Resources 19,000 Attributable Production (oz) 2010 9-mos 51,000 Drilling extended mine life to at least 2011 2010 Q3 9,000 2009 89,000 Explori
Slide 24: IAMGOLD Exploration – West Africa
IAMGOLD Exploration – West Africa Michael Donnelly Senior Vice President, Exploration
Slide 25: IAMGOLD – West Africa
IAMGOLD – West Africa The Birimian terrane of West Africa – World class deposits in world class belts IAMGOLD Exploration today Seasoned West Africa management 25 geoscientists in 3 offices 20+ years exploration experience and know-how MALI Aggregate land position of more than 2,700 km2 SENE
Slide 26: IAMGOLD – West Africa 2010 Exploration Portfolio
IAMGOLD – West Africa 2010 Exploration Portfolio A long-term commitment to organic growth Essakane $15.5M 42,200m exploration drilling 50,000m delineation drilling Kalana JV Budget $5.9M 38,000m drilling Siribaya JV Budget $3.7M 18,500m drilling Sadiola - Yatela IMG contribut
Slide 27: Essakane – 2010 Exploration Objectives
Essakane – 2010 Exploration Objectives As > 100ppm 1,368 km2 of prospective lands Budget Exploration Concessions: $1.9M expensed 1,268km² $13.5M capitalized Exploration 42,400m DD and RC drilling 36,800m Air Core drilling over sand covered areas Resource Delineation EMZ 50,000m DD dr
Slide 28: Essakane – Mine Infrastructure and Exploration Targets
Essakane – Mine Infrastructure and Exploration Targets EMZ north extension EMZ East Dump Au≥ 117 ppb (in soils) West Dump Lay down Offices Air Strip Falagountou TSF EMZ South extension 28
Slide 29: Essakane – Mine Lease Air Core Drilling
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 29
Slide 30: Mali – Sadiola/Yatela Overview
Mali – Sadiola/Yatela Overview Yatela lease …….Extend the current oxide mine life 18 month exploration program commenced KW-18 Yatela 2009 - $15M budget Program designed to evaluate remaining oxide potential 31 targets identified and ranked Alamoutala Work Completed 77,000m DD and RC drill
Slide 31: Mali – Sadiola/Yatela Remaining Opportunities
Mali – Sadiola/Yatela Remaining Opportunities Yatela North Yatela NE Resource modelling in progress Sadiola Exploration Targets Under-explored along strike to north Yatela KW-18 Gravity anomalies Expansions to FE pits Tambali oxide resource conversion successful and remaining sulphide potent
Slide 32: Mali – Siribaya JV
Mali – Siribaya JV 2010 Budget – $3.7 million Senegal 563 km2 land package Maiden Resource Guemedji Trend Indicated: 308Koz at 2.39g/t Au Mali Boto Inferred: 70Koz at 2.29g/t Au (100% IMG) SiribayaTrend Merrex - IMG Option Agreement Zone 1B Resource Area signed December 2008 Siribaya IAM
Slide 33: Mali – Siribaya JV 2009 DD / 2010 RC Results
Mali – Siribaya JV 2009 DD / 2010 RC Results 33m@5.07g/t 2009 DD Intercept 17m@2.09g/t 2010 RC Intercept 11m@0.87g/t 11m@0.78g/t 5m@2.09g/t 4m@5.88g/t 30m@3.89g/t 14m@4.98g/t 26m@3.05g/t 30m@2.05g/t Zone 1B 20m@5.92g/t 26m@4.02g/t 24m@5.54g/t 33m@5.07g/t 22m@3.25g/t 8m@7.22g/t 21.5m@2.04g/t 12m@4.75
Slide 34: Mali – Siribaya JV Siribaya Trend
Mali – Siribaya JV Siribaya Trend 2009 drilling within the Zone1B resource area Zone 1B resource estimate (Merrex – Nov. ‘09 ) Zone 1B Indicated Resources: 4.02Mt @ 2.39g/t Au (308Koz) Inferred Resources: 0.95Mt @ 2.29g/t Au (70Koz) 2010 drilling budget: 18,500m RC Drilling Explore full
Slide 35: Daorala-Boto & Bambadji – Location
Daorala-Boto & Bambadji – Location Sabodala – 2 Moz Loulo – 6 Moz 315 km² in World-Class District DAORALA Yalea – 2.4 Moz Daorala-Boto: 100% IAMGOLD Massawa – 4.5 Moz Tabakoto – 2.8 Moz Gounkoto – 2.65 Moz Boto located 25km from Siribaya BAMBADJI JV Established non-compliant mineral inventory Se
Slide 36: Daorala-Boto – Daorala Prospect Location
Daorala-Boto – Daorala Prospect Location Daorala–Boto: 100% IAMGOLD PQ10 Loulo1 Daorala situated within Loulo–Gara trend. Gara On trend with Gara? Loulo2 New target developed with auger drilling Loulo3 geochemistry P129 P125 2+ km anomaly identified Drill ready for early 2011 Yalea DE Daoral
Slide 37: Mali – Kalana JV
Mali – Kalana JV 2010 Budget - $5.9 million 387 km2 Mining Permit expires 2033 GUINEA Avnel - IMG Option Agreement MALI signed August 2009 Kalanako IAMGOLD can earn a 51% interest in Avnel’s Dadjan share of SOMIKA (80%); Malian Government High priority (20%) Kalana 60km² $11M expenditure in
Slide 38: Kalana – Geologic Ingredients For Success
Kalana – Geologic Ingredients For Success Gold Corridor Proven geologic setting within Birimian terrane Historical production on high grade veins TTG Extensive artisanal Granitoids workings Gold mineralized corridors Correlation with regional structures Integrated airborne magnetic and Gol
Slide 39: Kalana – Mine Area Deposit Model
Kalana – Mine Area Deposit Model Kalana deposit model Extensive shallow-dipping veins in envelope of lower grade material Vein packages up to 25m+ thickness Laterally controlled by vertical stockworking and structures North South Saprolite level 100 m Cross section view 39
Slide 40: Kalana – Status
Kalana – Status Poised to deliver a resource High resolution aeromagnetic and radiometric Kalanako survey illustrates regional controls 380 km² land package covered with termite mound geochemistry Geologic framework of mine area well advanced Kalana Dadjan 4000m of galleries sampled and assa
Slide 41: Conclusion
Conclusion Africa 6 of IAMGOLD’s 9 operations are Africa: based Africa 56% Production from African operations contribute ~60% of overall gold production 20+ years of experience working in African regions 2010E Production: Canada:3% 940,000oz - 970,000oz ~ 8Moz in reserves and growing in Afri
Slide 42: IAMGOLD AFRICA
IAMGOLD AFRICA November 23, 2010 Investor Relations Bob Tait VP, Investor Relations T: 416 360 4743 C: 647 403 5520 E: bob_tait@iamgold.com