UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16
OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of November, 2019
Commission File Number: 001-31528
IAMGOLD Corporation
(Translation of registrant's name into English)
401 Bay Street Suite 3200, PO Box 153
Toronto, Ontario, Canada M5H 2Y4
Tel: (416) 360-4710
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
[ ] Form 20-F [ x ] Form 40-F
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Note: Regulation S-T Rule
101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely
to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the
Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
Note: Regulation S-T Rule
101(b)(7) only permits the submission in paper of a Form 6-K if submitted to
furnish a report or other document that the registrant foreign private issuer
must furnish and make public under the laws of the jurisdiction in which the
registrant is incorporated, domiciled or legally organized (the registrants
home country), or under the rules of the home country exchange on which the
registrants securities are traded, as long as the report or other document is
not a press release, is not required to be and has not been distributed to the
registrants security holders, and, if discussing a material event, has already
been the subject of a Form 6-K submission or other Commission filing on EDGAR.
Indicate by check mark whether by furnishing the information
contained in this Form, the registrant is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the Securities
Exchange Act of 1934.
Yes [ ]
No [ x ]
If "Yes" is marked, indicate below the file number assigned
to the registrant in connection with Rule 12g3-2(b): 82- ________
SUBMITTED HEREWITH
Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
|
IAMGOLD CORPORATION |
|
(Registrant) |
|
|
|
Date: November 6, 2019 |
By: |
/s/ Tim Bradburn |
|
|
Tim Bradburn |
|
Title: |
Vice President, Legal and Corporate Secretary |
IAMGOLD REPORTS SOLID THIRD QUARTER 2019
RESULTS, WITH PATHWAY
TO IMPROVED FOURTH QUARTER;
CONFIRMS COST AND PRODUCTION GUIDANCE
All monetary amounts are expressed in U.S. dollars, unless
otherwise indicated.
For more information, refer to the Management
Discussion and Analysis (MD&A) and Unaudited Consolidated
Interim
Financial Statements for the nine months ended September 30, 2019.
Toronto, Ontario, November 6, 2019 - IAMGOLD Corporation
(IAMGOLD or the Company) reported its consolidated financial and
operating results for the quarter ended September 30, 2019.
"We had a solid third quarter, with operating cash flow
increasing by 28% over the second quarter 2019 and 354% over the prior year
period, and continuing efforts toward cost containment," commented Steve Letwin,
Chief Executive Officer of IAMGOLD. "Essakane is contributing to a strong second
half, Westwood is progressing and Rosebel continues to ramp back up to normal
operations. On the exploration front, our team has delivered a 3.2 million ounce
initial inferred resource at Nelligan, recognized by the AEMQ with the Discovery
of the Year Award. Additionally, we announced the new Karita discovery in Guinea
on trend between our Boto and Diakha deposits. Through our self-funding lens, we
completed the Essakane CIL/HL feasibility study, which supports a lower capital
investment with heap-leach optionality in the mine life. We look forward to
continuing our momentum with stronger fourth quarter results, and we confirm our
production and cost guidance. We believe that the combination of strong Essakane
performance, Saramacca ramp up, stabilization at Westwood, productivity
improvements across all assets, and our exploration successes build the case for
investment in IAMGOLD."
Mr. Letwin continued: "It is with great enthusiasm that I would
like to announce the appointment of P. Gordon Stothart to the position of
President & Chief Operating Officer of IAMGOLD. Gord has been with the
Company since late 2007 as Executive Vice President and COO, and we are thrilled
to expand his leadership role. I will continue in my role of Chief Executive
Officer of IAMGOLD."
Third Quarter 2019 Highlights
- Attributable gold production of 187,000 ounces at cost of sales1
per ounce of $986, total cash costs2 per ounce produced of
$902 and all-in sustaining costs2 per ounce sold of $1,118.
- Attributable gold sales of 186,000 ounces at an average realized gold
price per ounce of $1,481.
- Revenues of $274.4 million.
- Net loss attributable to equity holders of $3.0 million, or $0.01 per
share.
- Adjusted net loss attributable to equity holders2 of $0.0
million or $0.00 per share2.
- Net cash from operating activities of $51.8 million.
- Net cash from operating activities before changes in working capital2
of $65.4 million.
- Cash, cash equivalents, short-term investments and restricted cash totaled
$677.2 million at September 30, 2019.
Strategic Developments
Reserves and Resources
|
On August 7, 2019, we reported initial drilling results
testing the underground mining potential of the Saramacca Project in
Suriname. Drilling highlights included: 21.0 metres grading 6.05 g/t Au
including 10.5 metres grading 9.72 g/t Au; 22.7 metres grading 8.54 g/t Au
including 9.0 metres grading 15.23 g/t Au; 24.0 metres grading 9.67 g/t Au
including 6.0 metres grading 26.41 g/t Au. |
|
On August 13, 2019, we reported additional drilling
results from our delineation drilling program at the Nelligan Gold Project
in Quebec. Drilling highlights included: 123.7 metres grading 1.26 g/t Au;
50.2 metres grading 1.82 g/t Au; 17.3 metres grading 5.50 g/t Au.
|
Exploration
|
On July 23, 2019, we reported drilling results from our
2019 drilling program completed at the Monster Lake Joint Venture Project
in Quebec. Drilling highlights included: 0.8 metres grading 357.0 g/t Au;
0.5 metres grading 133.0 g/t Au. |
|
On July 30, 2019, we reported drilling results from our
2019 drilling program completed at the Gosselin Discovery at the Côté Gold
Project in Ontario. Drilling highlights included: 342.5 metres grading
0.98 g/t Au; 412.0 metres grading 1.28 g/t Au. |
|
On July 31, 2019, we reported additional drilling results
from our delineation program completed on the Lac Gamble Zone at the Rouyn
Gold Project in Quebec. Drilling highlights included: 9.7 metres grading
6.64 g/t Au; 23.4 metres grading 6.08 g/t Au including 8.1 metres grading
13.25 g/t Au; 10.05 metres grading 6.59 g/t Au.
|
Operations and Development
|
At Rosebel, we resumed mining activities in the northern
pits in late August and began ramping up in the southern pits in late
September, following the temporary suspension of mining activities that
resulted from a security incident reported on August 1, 2019. |
|
Development work on Saramacca continued with the haul
road construction and bush clearing activities progressing, and deliveries
for hauling fleet and technical engineering work continuing during the
quarter. |
|
The carbon-in-column plant at Rosebel, which became fully
operational in the first quarter 2019, produced an additional 1,300 ounces
in the third quarter 2019, for total year-to-date recoveries of 5,600
ounces. |
|
We continued to advance our application for a mining
concession and optimize the design elements of the Boto Gold Project
development, while we maintained stakeholder engagement.
|
Subsequent to the Quarter
|
IAMGOLD appointed P. Gordon Stothart as President &
Chief Operating Officer of the Company. |
|
IAMGOLD was awarded the Discovery of the Year at
the Mining Exploration Association of Quebecs XPLOR 2019 Awards Gala for
the Nelligan Gold Project. |
|
We reported an initial inferred resource estimate for the
Nelligan Gold Project in Quebec of 97.0 million tonnes grading 1.02 g/t Au
for 3.2 million ounces (on a 100% basis). |
|
First ore was delivered to the Rosebel mill from the
Saramacca deposit. |
|
The Carbon-In-Leach ("CIL") and Heap Leach feasibility
study at Essakane was completed: the feasibility study supported an
investment in a mill optimization project to increase CIL plant capacity
and postponement of heap leach operations to the end of life of mine.
|
|
We announced drilling results from our 2019 drilling
program completed at the Karita Project in Guinea, confirming a new
grassroots exploration discovery along the Senegal-Mali Shear Zone, on
trend between our Boto and Diakha deposits. Drilling highlights included:
29.0 metres grading 2.96 g/t Au; 21.0 metres grading 9.01 g/t Au; 16.0
metres grading 3.17 g/t Au. |
|
IAMGOLD participated in INV Metals' private placement of
common shares and acquired an additional 13.9 million common shares of INV
Metals at a price of C$0.40 per share for an aggregate amount of $4.2
million (C$5.6 million). This acquisition allowed IAMGOLD to maintain a
35.6% ownership in INV Metals, a Canadian mineral resource company focused
on the development and exploration of the Loma Larga Project in Ecuador.
|
2
Upcoming Growth Catalysts
|
At Rosebel, a scoping study is underway to evaluate the
underground mining potential of Saramacca, which could result in higher
grades and significantly lower waste volumes, thereby reducing costs.
|
|
We are continuing to advance exploration activities along
the Saramacca-Brokolonko trend in Suriname to confirm the presence of
additional zones of mineralization and evaluate the resource potential.
|
|
We are studying various design approaches to Westwood
with a preliminary life of mine plan update expected in the fourth quarter
2019, followed by a plan, in accordance with NI 43-101, in the first half
of 2020. |
SUMMARY OF FINANCIAL AND OPERATING RESULTS |
|
|
Three months |
|
|
|
|
|
Nine
months ended |
|
|
|
|
|
|
ended September |
|
|
|
|
|
September 30, |
|
|
|
|
|
|
30, |
|
|
|
|
|
|
|
|
|
|
Financial
Results ($ millions, except where noted) |
|
2019 |
|
|
2018
|
|
|
2019 |
|
|
2018
|
|
Revenues |
$ |
274.4 |
|
$ |
244.8 |
|
$ |
771.9 |
|
$ |
836. |
|
Cost of sales |
$ |
251.6 |
|
$ |
237.3 |
|
$ |
743.4 |
|
$ |
723. |
|
Gross profit |
$ |
22.8 |
|
$ |
7.5 |
|
$ |
28.5 |
|
$ |
112. |
|
Net earnings (loss) attributable to equity holders of
IAMGOLD |
$ |
(3.0 |
) |
$ |
(9.5 |
) |
$ |
(58.7 |
) |
$ |
6. |
|
Net earnings
(loss) attributable to equity holders ($/share) |
$ |
(0.01 |
) |
$ |
(0.02 |
) |
$ |
(0.13 |
) |
$ |
0.01 |
|
Adjusted net earnings (loss) attributable to equity holders
of IAMGOLD1 |
$ |
|
|
$ |
(6.9 |
) |
$ |
(17.7 |
) |
$ |
45. |
|
Adjusted net
earnings (loss) attributable to equity holders ($/share)1 |
$ |
|
|
$ |
(0.01 |
) |
$ |
(0.04 |
) |
$ |
0.10 |
|
Net cash from operating activities |
$ |
51.8 |
|
$ |
11.4 |
|
$ |
100.5 |
|
$ |
168. |
|
Net cash from
operating activities before changes in working capital1 |
$ |
65.4 |
|
$ |
39.7 |
|
$ |
141.3 |
|
$ |
232. |
|
Key Operating Statistics |
|
|
|
|
|
|
|
|
|
|
|
|
Gold sales attributable (000s oz) |
|
186 |
|
|
202 |
|
|
563 |
|
|
652 |
|
Gold production attributable (000s oz) |
|
187 |
|
|
208 |
|
|
570 |
|
|
651 |
|
Average realized gold price1 ($/oz) |
$ |
1,481 |
|
$ |
1,207 |
|
$ |
1,367 |
|
$ |
1,282 |
|
Cost of sales2 ($/oz) |
$ |
986 |
|
$ |
858 |
|
$ |
963 |
|
$ |
805 |
|
Total cash costs1 ($/oz) |
$ |
902 |
|
$ |
830 |
|
$ |
894 |
|
$ |
791 |
|
All-in sustaining costs1 ($/oz) |
$ |
1,118 |
|
$ |
1,086 |
|
$ |
1,112 |
|
$ |
1,035 |
|
Gold margin1
($/oz) |
$ |
579 |
|
$ |
377 |
|
$ |
473 |
|
$ |
491 |
|
1 |
This is a non-GAAP measure. Refer to the non-GAAP
performance measures section of the MD&A. |
2 |
Cost of sales, excluding depreciation, as disclosed in
note 29 of the Company's consolidated interim financial statements is on
an attributable ounce sold basis (excluding the non-controlling interests
of 10% at Essakane and 5% at Rosebel) and does not include Joint Ventures
which are accounted for on an equity basis. |
THIRD QUARTER 2019 SUMMARY |
|
Revenues for the third quarter 2019 were $274.4 million,
up $29.6 million or 12% from the same prior year period. The increase was
primarily due to a higher realized gold price ($51.0 million), partially
offset by lower sales volume at Westwood ($9.5 million), Rosebel ($8.7
million) and Essakane ($2.4 million). |
|
|
|
Cost of sales for the third quarter 2019 was $251.6
million, up $14.3 million or 6% from the same prior year period. The
increase was primarily due to higher operating costs and depreciation
expense. Operating costs were higher primarily due to lower capitalized
stripping and increased fuel consumption at Essakane, combined with the
processing of stockpile material at Rosebel as a result of the temporary
suspension of mining activities due to the security incident, partially
offset by labour reductions at Westwood. |
|
|
|
Depreciation expense for the third quarter 2019 was $69.9
million, up $5.3 million or 8% from the same prior year period. The
increase was primarily due to higher depreciation of capitalized stripping
at Essakane. We expect 2019 depreciation expense to be approximately $275
million. |
3
|
Income tax expense for the third quarter 2019 was $8.6
million, up $8.1 million from the same prior year period. Income tax
expense for the third quarter 2019 comprised current income tax expense of
$15.8 million (September 30, 2018 - $24.7 million) and deferred income tax
recovery of $7.2 million (September 30, 2018 - recovery of $24.2 million).
The increase in income tax expense was primarily due to changes to
deferred income tax assets and liabilities, differences in the impact of
fluctuations in foreign exchange, and differences in the level of taxable
income in IAMGOLDs operating jurisdictions from one period to the next.
|
|
|
|
Net loss attributable to equity holders for the third
quarter 2019 was $3.0 million, or $0.01 per share, compared to net loss of
$9.5 million, or $0.02 per share in the same prior year period. The
decrease in net loss was primarily due to higher gross profit ($15.3
million) and interest income, derivatives and other investment gains
(losses) ($11.0 million), partially offset by higher income tax expense
($8.1 million), higher other expenses ($8.1 million) and lower foreign
exchange gain ($5.7 million). |
|
|
|
Adjusted net loss attributable to equity holders2
was $0.0 million, or $0.00 per share2, compared to
adjusted net loss2 of $6.9 million, or $0.01 per share2
in the same prior year period. |
|
|
|
Net cash from operating activities for the third quarter
2019 was $51.8 million, up $40.4 million from the same prior year period.
The increase was primarily due to higher earnings after non-cash
adjustments ($18.2 million), lower movements in non-cash working capital
items and non-current ore stockpiles ($15.1 million) and lower income
taxes paid ($6.9 million). Movements in non-cash working capital items and
non-current ore stockpiles was lower primarily due to lower inventories
and non- current ore stockpiles, partially offset by a temporary reduction
in accounts payable and accrued liabilities due to the temporary
suspension of mining activities as a result of the security incident at
Rosebel. Accounts payable and accrued liabilities are expected to increase
as mining activities ramp up. |
|
|
|
Net cash from operating activities before changes in
working capital2 for the third quarter 2019 was $65.4 million,
up $25.7 million from the same prior year period. |
|
|
|
Moody's Investors Service downgraded the Company's
long-term corporate credit rating to B1 from Ba3 with a stable outlook.
|
|
We ended the quarter in a strong financial position, with
cash, cash equivalents, short-term investments primarily in money market
funds and restricted cash were $677.2 million at September 30, 2019, down
$80.8 million from December 31, 2018. Cash and cash equivalents were
$634.0 million, short-term investments, primarily in money market funds,
were $16.1 million and restricted cash was $27.1 million. $499.6 million
was available under the credit facility. The decrease was due to spending
on property, plant and equipment ($187.9 million), interest paid ($15.4
million) and payment of lease obligations ($4.4 million), partially offset
by cash generated from operating activities ($100.5 million) and proceeds
from an equipment loan ($23.3 million). |
|
Attributable gold production, inclusive of joint venture
operations, was 187,000 ounces for the third quarter 2019, down 21,000
ounces from the same prior year period. The decrease was primarily due
lower head grades and recoveries at Rosebel, as the mill feed comprised
low grade stockpiles due to the temporary suspension of mining activities
(12,000 ounces), lower grades at Westwood (7,000 ounces), lower throughput
and recoveries at Sadiola (1,000 ounces) and the end of operations at
Yatela (1,000 ounces). |
|
|
|
Attributable gold sales, inclusive of joint venture
operations, were 186,000 ounces for the third quarter 2019, down 16,000
ounces from the same prior year period. The decrease was due to lower
sales at Westwood (8,000 ounces), Rosebel (7,000 ounces) and Essakane
(1,000 ounces). |
|
|
|
Cost of sales1 per ounce for the third quarter
2019 was $986, up 15% from the same prior year period primarily due to
lower sales volumes in addition to the factors noted above.
|
4
|
Total cash costs2 per ounce produced for the
third quarter 2019 were $902, up 9% from the same prior year period
primarily due to lower production volumes at Rosebel and Westwood in
addition to the factors noted above. |
|
|
|
All-in sustaining costs2 per ounce sold for
the third quarter 2019 were $1,118, up 3% from the same prior year period.
The increase was primarily due to higher cost of sales per ounce,
partially offset by lower sustaining capital expenditures. |
|
|
|
Total cash costs2 and all-in sustaining
costs2 for the third quarter 2019 included a reduction of $49
per ounce for the normalization of costs at Rosebel (2018 - $nil) and
realized derivative gains from hedging programs of $nil per ounce produced
and sold (2018 - $13 and $13). |
Commitment to
Zero Harm Continues |
|
The DART rate3, representing the frequency of
all types of serious injuries across all sites and functional areas for
the third quarter 2019 was 0.56, below IAMGOLD's target of 0.63. IAMGOLD
continues the implementation of several initiatives, including a
behaviour-based safety program, to ensure a safer work environment.
|
|
|
|
Moodys Investor Services released its first assessment
of Corporate Governance for the Metals and Mining sector, wherein IAMGOLD
achieved the highest level (GA-1) based on adjusted scoring of 2.7, the
second highest scoring received of the companies reviewed. The Corporate
Governance framework is a subset of Moodys initiative focusing on
Environmental, Social and Corporate governance reviews. The Corporate
Governance framework comprises 168 questions reviewing Ownership,
Compensation, Board Oversight, Financial Oversight and Compliance
Reporting. |
ATTRIBUTABLE GOLD PRODUCTION AND COSTS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Cash |
|
|
All-in Sustaining |
|
|
|
Gold Production |
|
|
Cost of Sales1 |
|
|
Costs2 |
|
|
Costs2 |
|
|
|
(000s oz) |
|
|
($ per ounce) |
|
|
($ per ounce |
|
|
($ per ounce |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
produced) |
|
|
sold) |
|
Three months
ended September 30, |
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
Owner-operator |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Essakane (90%) |
|
96 |
|
|
96 |
|
$ |
925 |
|
$ |
809 |
|
$ |
866 |
|
$ |
762 |
|
$ |
1,021 |
|
$ |
993 |
|
Rosebel (95%)3,4 |
|
55 |
|
|
67 |
|
|
1,122 |
|
|
921 |
|
|
968 |
|
|
893 |
|
|
1,198 |
|
|
1,113 |
|
Westwood
(100%)5,6 |
|
23
|
|
|
30 |
|
|
915
|
|
|
891 |
|
|
889
|
|
|
856 |
|
|
1,033 |
|
|
1,047 |
|
Owner-operator7 |
|
174 |
|
|
193 |
|
$ |
986 |
|
$ |
858 |
|
$ |
901 |
|
$ |
822 |
|
$ |
1,137 |
|
$ |
1,099 |
|
Joint ventures |
|
13
|
|
|
15 |
|
|
|
|
|
|
|
|
915
|
|
|
933 |
|
|
891
|
|
|
922 |
|
Total operations |
|
187
|
|
|
208 |
|
|
|
|
|
|
|
$ |
902 |
|
$ |
830 |
|
$ |
1,118 |
|
$ |
1,086 |
|
Cost of
sales1 ($/oz) |
|
|
|
|
|
|
$ |
986 |
|
$ |
858 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash costs, excluding royalties |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
832 |
|
$ |
780 |
|
|
|
|
|
|
|
Royalties |
|
|
|
|
|
|
|
|
|
|
|
|
|
70 |
|
|
50 |
|
|
|
|
|
|
|
Total cash
costs2 |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
902 |
|
$ |
830 |
|
|
|
|
|
|
|
All-in sustaining
costs2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,118 |
|
$ |
1,086 |
|
5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Cash |
|
|
All-in Sustaining |
|
|
|
Gold Production |
|
|
Cost of Sales1 |
|
|
Costs2 |
|
|
Costs2 |
|
|
|
(000s oz) |
|
|
($ per ounce) |
|
|
($ per ounce |
|
|
($ per ounce |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
produced) |
|
|
sold) |
|
Nine months
ended September 30, |
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
Owner-operator |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Essakane (90%) |
|
274 |
|
|
302 |
|
|
926 |
|
$ |
761 |
|
$ |
878 |
|
$ |
716 |
|
$ |
1,035 |
|
$ |
968 |
|
Rosebel (95%)3,4 |
|
195 |
|
|
202 |
|
|
976 |
|
|
858 |
|
|
925 |
|
|
855 |
|
|
1,121 |
|
|
1,017 |
|
Westwood
(100%)5,6 |
|
62 |
|
|
101 |
|
|
1,079 |
|
|
834 |
|
|
866 |
|
|
823 |
|
|
1,062 |
|
|
1,003 |
|
Owner-operator7 |
|
531 |
|
|
605 |
|
|
963 |
|
|
805 |
|
$ |
894 |
|
$ |
780 |
|
$ |
1,129 |
|
$ |
1,042 |
|
Joint Ventures |
|
39 |
|
|
46 |
|
|
|
|
|
|
|
|
893 |
|
|
933 |
|
|
890 |
|
|
939 |
|
Total operations |
|
570 |
|
|
651 |
|
|
|
|
|
|
|
$ |
894 |
|
$ |
791 |
|
$ |
1,112 |
|
$ |
1,035 |
|
Cost of sales1 ($/oz) |
|
|
|
|
|
|
$ |
963 |
|
$ |
805 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash costs, excluding royalties |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
830 |
|
$ |
736 |
|
|
|
|
|
|
|
Royalties |
|
|
|
|
|
|
|
|
|
|
|
|
|
64 |
|
|
55 |
|
|
|
|
|
|
|
Total cash
costs2 |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
894 |
|
$ |
791 |
|
|
|
|
|
|
|
All-in sustaining
costs2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,112 |
|
$ |
1,035 |
|
1 |
Cost of sales, excluding depreciation, as disclosed in
note 29 of the Company's consolidated interim financial statements is on
an attributable ounce sold basis (excluding the non-controlling interests
of 10% at Essakane and 5% at Rosebel) and does not include Joint Ventures
which are accounted for on an equity basis. |
2 |
This is a non-GAAP measure. Refer to the non-GAAP
performance measures section of the MD&A. Consists of Essakane,
Rosebel, Westwood and the Joint Ventures on an attributable
basis. |
3 |
Cost of sales per ounce sold for Rosebel does not include
the impact of normalization of costs for the three and nine months ended
September 30, 2019 of $49 and $16 per ounce (three and nine months ended
September 30, 2018 - $nil and $nil), respectively. |
4 |
Total cash costs per ounce produced and all-in sustaining
costs per ounce sold for Rosebel include the impact of normalization of
costs for the three and nine months ended September 30, 2019 of $49 and
$16 per ounce (three and nine months ended September 30, 2018 - $nil and
$nil), respectively. |
5 |
Cost of sales per ounce sold for Westwood does not
include the impact of normalization of costs for the three and nine months
ended September 30, 2019 of $nil and $20 per ounce (three and nine months
ended September 30, 2018 - $nil and $nil), respectively. |
6 |
Total cash costs per ounce produced and all-in sustaining
costs per ounce sold for Westwood include the impact of normalization of
costs for the three and nine months ended September 30, 2019 of $nil and
$20 per ounce (three and nine months ended September 30, 2018 - $nil and
$nil), respectively. |
7 |
Owner-operator all-in sustaining costs include corporate
general and administrative costs. Refer to all-in sustaining costs
reconciliation on page 29 of the MD&A. |
OPERATIONS ANALYSIS BY MINE SITE |
Essakane Mine - Burkina Faso (IAMGOLD interest -
90%)
Attributable gold production for the third quarter 2019 was
comparable to the same prior year period primarily due to higher throughput
offset by lower head grades. Mill throughput for the third quarter 2019 was
favourably impacted by a lower proportion of hard rock processed relative to the
prior year period. Head grade for the third quarter was lower as a result of
mine sequencing relative to prior year period.
Material mined for the third
quarter 2019 was higher compared to the same prior year period primarily as a
result of continued improvement to equipment availability and an increase in the
fleet size. Additional equipment commissioned in the second and third quarter of
2019 will allow for increased hauling capacity and reduced reliance on mining
contractors. Ore mined for the third quarter 2019 was higher compared to the
same prior year period primarily due to increased mining of lower grade ore to
support the construction of a proposed heap leach facility at the end of
carbon-in-leach (CIL) operations, in addition to the items noted above.
The CIL and Heap Leach feasibility study at Essakane was
completed in the fourth quarter 2019 and concluded that increasing CIL plant
capacity and postponing the heap leach operation to the end of life of mine is
more economical than operating both a heap leach and the CIL in parallel.
Optimization work has focused on increasing CIL capacity to 11.7 million
tonnes per annum (at 100% hard rock) compared to the original nameplate capacity
of 10.8 million tonnes per annum (at 100% hard rock) with a minimal capital
investment of $9.0 million in a mill optimization project. The optimization of
the CIL circuit will result in a reduction of the Heap Leach material throughput
from 10.0 million tonnes per annum, as disclosed in the June 5th 2018
Pre-Feasibility Study, to 8.5 million tonnes per annum without a significant
change to the production profile due to improved recovery from 55.0% to 67.0% .
Cost of sales per ounce sold and total cash costs per ounce
produced for the third quarter 2019 were higher by 14% compared to the same
prior year period primarily due to lower capitalized stripping and sales volume.
Operating costs were higher as a result of increased mining activity and higher
fuel consumption due to longer hauling distances from the Falagountou pit and
reflecting the increased use of mining contractors. These cost pressures were
partially offset by a weaker euro relative to the U.S. dollar.
6
All-in sustaining costs per ounce sold for the third quarter
2019 were higher by 3% compared to the same prior year period primarily due to
higher cost of sales per ounce, partially offset by lower sustaining capital
expenditures. Included in total cash costs and all-in sustaining costs for the
third quarter 2019 was the impact of realized derivative losses from hedging
programs of $2 per ounce produced and sold, respectively (2018 - $19 and $19).
Sustaining capital expenditures for the third quarter 2019 of
$8.6 million included capital spares of $2.4 million, mobile equipment of $2.2
million, resource development of $0.6 million, power generator overhaul of $0.5
million, and various other sustaining capital expenditures of $2.9 million.
Non-sustaining capital expenditures of $11.5 million included capitalized
stripping of $5.9 million, tailings liners and dams of $4.8 million, mill
optimization of $0.5 million and Carbon-In-Leach and Heap Leach feasibility
study of $0.3 million.
Outlook
We maintain Essakane's 2019 attributable gold production
guidance of 380,000 to 390,000 ounces. Capital expenditures are expected to be
approximately $110 million, comprising $40 million of sustaining and $70 million
non-sustaining capital.
Rosebel Mine - Suriname (IAMGOLD interest - 95%)
Attributable gold production for the third quarter 2019 was 18%
lower compared to the same prior year period primarily due to the impact of the
security incident which resulted in the temporary suspension of mining
activities. As a result of this incident, the mill feed comprised low grade
stockpiles which resulted in lower head grades than the prior year period. Since
the incident, mining restarted in the northern pits in late August and began
ramping up in the southern pits in late September. During this downtime, major
preventative maintenance was undertaken on the mobile equipment, which will
reduce downtime in future periods. In addition, the majority of the hauling
fleet has been modified to increase the average payload by 5%. The
carbon-in-column plant continued to perform favorably with an additional 1,300
ounces recovered from tailings in the third quarter 2019, bringing year-to-date
tailings recoveries to 5,600 ounces. The plant has now exceeded the current year
targeted recovery of 5,000 ounces at a marginal operating cost of approximately
$35 per ounce to cover additional power and elution costs.
Development work on Saramacca continued in the third quarter
with the construction of the haul road and bush clearing activities. In the
fourth quarter 2019, mining activities along with nominal production are
expected to commence at Saramacca. Deliveries for the hauling fleet continued,
with an additional four haul trucks and three excavators commissioned in the
third quarter 2019. Technical and engineering work also continued during the
quarter, including surface water management engineering, grade control drilling,
and site infrastructure construction.
In accordance with International Financial Reporting Standards,
Rosebel reduced the cash costs and depreciation attributed to inventory for the
third quarter 2019 by $9.6 million and $3.6 million, respectively (2018 - $nil
and $nil) to normalize for the amount of fixed overhead on a per unit basis as a
consequence of abnormally low material mined resulting from the security
incident. Rosebel reduced total cash costs and all-in sustaining costs for the
third quarter 2019 by $167 per ounce produced and $170 per ounce sold (2018 -
$nil and $nil).
Cost of sales per ounce sold were higher by 22% compared to the
same prior year period primarily due to lower sales volumes as a result of the
temporary suspension of mining activities due to the security incident. Total
cash costs per ounce produced for the third quarter 2019 were higher by 8%
compared to the same prior year period, primarily due to lower production
volumes as a result of the security incident. All-in sustaining costs per ounce
sold for the third quarter 2019 were higher by 8% compared to the same prior
year period primarily due to higher cost of sales per ounce, partially offset by
the impact of cost normalization. Included in total cash costs and all-in
sustaining costs for the third quarter 2019 was the impact of realized
derivative gains from hedging programs of $nil per ounce produced and sold (2018
- $13 and $15).
Sustaining capital expenditures for the third quarter 2019 of
$12.4 million included capital spares of $7.9 million, mill equipment of $0.9
million, mobile equipment of $0.3 million, tailings dam of $0.2 million, and
various other sustaining capital expenditures of $3.1 million. Non-sustaining
capital expenditures for the third quarter 2019 of $8.1 million related to the
Saramacca Project.
7
Outlook
We maintain Rosebel's 2019 attributable gold production
guidance range of 240,000 to 260,000 ounces. Capital expenditures are expected
to be $90 million, comprising $40 million of sustaining and $50 million of
non-sustaining capital expenditures.
Westwood Mine - Canada (IAMGOLD interest - 100%)
Gold production for the third quarter 2019 was 23% lower
compared to the same prior year period primarily due to lower head grades. Mine
production activities continued to be limited on the levels affected by seismic
activity in localized areas in the fourth quarter 2018. Mining continued in
areas unaffected by seismicity, which mainly contained lower grade stopes. To
manage the risk of seismicity, IAMGOLD is continuing to study various design
approaches at Westwood with a preliminary life of mine ("LOM") plan update
expected in the fourth quarter 2019, followed by a NI 43-101 compliant plan in
the first half of 2020. Underground development continued to progress in the
third quarter 2019 to open up access to new mining areas with lateral
development of approximately 1,600 metres, averaging 18 metres per day. To
support continued underground development while respecting safety protocols in
place for mining in areas where seismicity is present, three units of bolting
equipment designed to manage seismic exposure were commissioned during the first
quarter 2019. Training and optimization of these units continue and is expected
to be completed by the first half of 2020.
Cost of sales per ounce sold and total cash costs per ounce
produced for the third quarter 2019 were higher by 3% and 4%, respectively,
compared to the same prior year period primarily due to lower sales and
production volumes.
All-in sustaining costs per ounce sold for the third quarter
2019 were lower by 1% compared to the same prior year period primarily due to
lower sustaining capital expenditures. Included in total cash costs and all-in
sustaining costs for the third quarter 2019 was the impact of realized
derivative gains from currency hedging programs of $2 per ounce produced and $3
per ounce sold, respectively (2018 - $nil and $nil). Sustaining capital
expenditures for the third quarter 2019 of $2.9 million included deferred
development of $2.1 million, underground equipment of $0.6 million, and
underground construction of $0.2 million. Non-sustaining capital expenditures
for the third quarter 2019 of $2.4 million included deferred development of $1.7
million, development drilling of $0.3 million and underground construction of
$0.4 million.
Outlook
We maintain Westwoods 2019 gold production guidance range of
95,000 to 105,000 ounces. This reflects the steady progression of mining and
development activities towards higher-grade zones, while respecting safety
protocols for areas where seismicity is present. Capital expenditures are
expected to be $35 million, comprising $15 million of sustaining and $20 million
of non-sustaining capital expenditures.
Sadiola Mine - Mali (IAMGOLD interest - 41%)
Attributable gold production for the third quarter 2019 was 7%
lower compared to the same prior year period primarily due to lower throughput
and recovery, partially offset by higher grades. Total cash costs per ounce
produced and all-in sustaining costs per ounce sold for the third quarter 2019
and the same prior year period primarily include the cost of processing
stockpiles.
An agreement with the Government of Mali, on terms for
investment in the Sadiola Sulphide Project, must be reached in order to prevent
the operation from entering a phase of suspended exploitation (care and
maintenance), once processing of the ore stockpiles is complete. Processing of
the ore stockpiles is expected to be completed in the fourth quarter 2019. While
this agreement has not yet been reached, IAMGOLD and AngloGold Ashanti, who
collectively own an 82% interest in Sadiola, have initiated a process to
identify third parties that may be interested in acquiring their collective
interest in Sadiola. The process is ongoing and there is no certainty of its
outcome.
Yatela Mine - Mali (IAMGOLD interest - 40%)
On February 14, 2019, Sadiola Exploration Limited (SADEX), a
subsidiary jointly held by IAMGOLD and AngloGold Ashanti Limited, entered into a
share purchase agreement with the Government of Mali, whereby SADEX agreed to
sell to the Government of Mali its 80% participation in Société dExploitation
des Mines dOr de Yatela (Yatela), for a consideration of $1. The transaction
remains subject to the fulfillment of a number of conditions precedent, among
which the adoption of two laws, confirming the change of status of Yatela to a
State Entity, and also the creation of a dedicated state agency, notably in
charge of mine rehabilitation and closure. As part of the transaction, and upon
its completion, SADEX will make a one-time payment of approximately $18.5
million to the said state agency, in an amount
8
corresponding to the estimated costs of completing the
rehabilitation and closure of the Yatela mine, and also financing certain
outstanding social programs. Upon completion and this payment being made, SADEX
and its affiliated companies will be released of all obligations relating to the
Yatela mine including those relating to rehabilitation, mine closure and the
financing of social programs.
Côté Gold Project, Canada
The Côté Gold Project is a 70:30 joint venture between the
operator IAMGOLD and Sumitomo Metal Mining Co., Ltd. ("SMM").
In January 2019, we announced a deferral of the decision to
proceed with the construction of the Côté Gold Project (see news release
dated January 28, 2019).
During the third quarter 2019, de-risking activities continued
at the Côté Gold Project, within capital expenditure guidance, pending a future
development decision. Project engineering is now approximately 42% complete.
De-risking activities also included geotechnical evaluation and modelling of the
proposed tailings management facility, the completion of approximately 800
metres of additional definition drilling to improve the resource block model,
advancing Project permitting, developing the operational context of mine
automation, and general mine design improvements.
In addition, we reported the remaining assay results from the
completed drilling program on the new Gosselin Zone discovery, which included
the following highlights: 342.5 metres grading 0.98 g/t Au; 412.0 metres grading
1.28 g/t Au (see news release dated July 30, 2019). The program was
designed to evaluate the new discovery, located approximately 1.5 kilometres
northeast of the Côté Gold deposit, testing both for extensions of
mineralization at shallow depth as well as evaluate the continuity of
mineralization between the Gosselin and Young-Shannon zones. The results will be
used to guide future drilling programs with an objective of evaluating the
resource potential of this new discovery.
Boto - Senegal
During the third quarter 2019, we continued to advance its
application for a mining concession and to optimize the design elements of the
Boto Gold Project development, while we maintained stakeholder engagement. The
drilling program completed in the second quarter included further resource
delineation and evaluation of potential resource expansions adjacent to the
Malikoundi design pit, as well as condemnation drilling of proposed
infrastructure sites.
In the third quarter 2019, expenditures for exploration and
project studies totaled $10.3 million compared to $16.4 million in the same
prior year period, of which $7.7 million was expensed and $2.6 million was
capitalized (September 30, 2018 - $8.4 million was expensed and $8.0 million was
capitalized). The decrease compared to the same prior year period primarily
reflects decreased spending on feasibility and other studies and decreased
activity related to near-mine and brownfield programs.
GREENFIELD EXPLORATION PROJECTS
Wholly-Owned Projects
Karita, Guinea
The Karita Gold Project is wholly owned by IAMGOLD and was
acquired in 2017 as a granted exploration permit that covers approximately 100
square kilometres, located in Guinea between our Boto Gold Project in Senegal to
the north, and our Diakha-Siribaya Gold Project in Mali to the south.
During the third quarter 2019, a first pass drilling program
totalling approximately 1,800 metres of reverse circulation drilling was
completed ahead of the rainy season to follow up on a previously identified
termite mound geochemical anomaly interpreted to be a possible extension of the
mineralized trend between the Boto and Diakha deposits. Subsequent to the
quarter, we announced assay results from the drilling program which confirmed a
new discovery of mineralization along this portion of the Senegal-Mali Shear
Zone including the following highlights: 29.0 metres grading 2.96 g/t Au; 21.0
metres grading 9.01 g/t Au; 16.0 metres grading 3.17 g/t Au (see news release
dated October 2, 2019).
The results of this drilling program will be compiled and
integrated with data from the adjacent Boto Gold and Diakha-Siribaya Gold
Projects to help guide future drilling programs with an objective to define the
extents of the mineralization and evaluate the resource potential of this new
discovery.
9
Joint Venture Projects
Following are the highlights for our joint venture exploration
projects. The agreements are typically structured in a way that gives us the
option of increasing our ownership interest over time, with the decision
dependent upon the exploration results as time progresses.
Monster Lake - Canada (Option Agreement with TomaGold
Corporation)
During the third quarter 2019, we reported assay results from
the winter drilling program, which included the following highlights: 0.8 metres
grading 357.0 g/t Au; 0.5 metres grading 133.0 g/t Au (see news release dated
July 23, 2019). These results will be used to guide future exploration
programs which will focus on identifying additional mineralized zones with the
objective to increase total mineral resources on the property.
Nelligan - Canada (Option Agreement with Vanstar Mining
Resources Inc.)
During the third quarter 2019, we completed our planned summer
mapping program and commenced a summer soil sampling program. The purpose of
these programs is to continue to enhance our understanding of the mineral
potential on the property. Additional assay results from the previously
completed delineation drilling program were reported, with highlights including:
123.7 metres grading 1.26 g/t Au; 50.2 metres grading 1.82 g/t Au; 17.3 metres
grading 5.50 g/t Au (see news release dated August 13, 2019). Drilling results,
together with geological, geochemical, and structural studies, were used to
complete an initial resource estimate in accordance with NI 43-101. Subsequent
to the quarter, we reported an initial inferred resource estimate (on a 100%
basis) of 97.0 million tonnes grading 1.02 g/t Au for 3.2 million ounces (see
news release dated October 22, 2019).Planning for future drilling programs is
ongoing and will involve a number of objectives including: additional infill
drilling to improve resource classification and convert inferred resources to
the indicated resource category; evaluate potential resource extensions in the
deeper parts of the deposit; and evaluate resource expansions along strike.
Rouyn - Canada (Option Agreement with Yorbeau Resources
Inc.)
During the third quarter 2019, approximately 6,600 metres of
diamond drilling were completed to test selected exploration targets in the area
of the historic Astoria deposit, located several kilometres to the east of Lac
Gamble. The remaining assay results from the completed 2019 diamond delineation
drilling program at Lac Gamble were reported, with highlights including: 9.7
metres grading 6.64 g/t Au; 23.4 metres grading 6.08 g/t Au; 10.05 metres
grading 6.59 g/t Au (see news release dated July 31, 2019). The assay
results will be used to develop a deposit model and support an initial resource
estimate.
End Notes (excluding tables)
1 |
Cost of sales, excluding depreciation, as disclosed in
note 29 of the Company's consolidated interim financial statements is on
an attributable ounce sold basis (excluding the non-controlling interests
of 10% at Essakane and 5% at Rosebel) and does not include Joint Ventures
which are accounted for on an equity basis. |
|
|
2 |
This is a non-GAAP measure. Refer to the reconciliation
in the non-GAAP performance measures section of the MD&A. |
|
|
3 |
The DART refers to the number of days away, restricted
duty or job transfer incidents that occur per 100
employees. |
CONFERENCE CALL
A conference call will be held on Thursday, November 7, 2019 at
8:30 a.m. (Eastern Standard Time) for a discussion with management regarding
IAMGOLD's 2019 third quarter operating performance and financial results. A
webcast of the conference call will be available through IAMGOLD's website -
www.iamgold.com.
Conference Call Information: North America Toll-Free:
1-800-319-4610 or International Number: 1-604-638-5340.
A replay of this conference call will be accessible for one
month following the call by dialing: North America toll-free: 1-800-319-6413 or
International Number: 1-604-638-9010, passcode: 3717#.
10
CAUTIONARY STATEMENT ON
FORWARD-LOOKING INFORMATION
All information included in this news release, including any
information as to the Companys future financial or operating performance, and
other statements that express managements expectations or estimates of future
performance, other than statements of historical fact, constitute
forward-looking information or forward-looking statements and are based on
expectations, estimates and projections as of the date of this news release. For
example, forward-looking statements contained in this news release are found
under, but are not limited to being included under, the headings "Upcoming
Growth Catalysts", Third Quarter 2019 Summary, "2019 Guidance", "Development
Projects", and "Exploration", and include, without limitation, statements with
respect to: the Companys guidance for production, cost of sales, total cash
costs, all-in sustaining costs, depreciation expense, effective tax rate,
capital expenditures, operations outlook, development and expansion projects,
exploration, the future price of gold, the estimation of mineral reserves and
mineral resources, the realization of mineral reserve and mineral resource
estimates, the timing and amount of estimated future production, costs of
production, permitting timelines, currency fluctuations, requirements for
additional capital, government regulation of mining operations, environmental
risks, unanticipated reclamation expenses, title disputes or claims and
limitations on insurance coverage. Forward-looking statements are provided for
the purpose of providing information about managements current expectations and
plans relating to the future. Forward-looking statements are generally
identifiable by, but are not limited to, the use of the words may, will,
should, continue, expect, "budget", "forecast", anticipate, estimate,
believe, intend, plan, "schedule", guidance, outlook, potential,
seek, targets, strategy or project or the negative of these words or
other variations on these words or comparable terminology. Forward-looking
statements are necessarily based upon a number of estimates and assumptions
that, while considered reasonable by management, are inherently subject to
significant business, economic and competitive uncertainties and contingencies
and, as such, undue reliance must not be placed on them. The Company cautions
the reader that reliance on such forward-looking statements involve risks,
uncertainties and other factors that may cause the actual financial results,
performance or achievements of IAMGOLD to be materially different from the
Companys estimated future results, performance or achievements expressed or
implied by those forward-looking statements. Forward-looking statements are in
no way guarantees of future performance. These risks, uncertainties and other
factors include, but are not limited to, changes in the global prices for gold,
copper, silver or certain other commodities (such as diesel and electricity);
changes in U.S. dollar and other currency exchange rates, interest rates or gold
lease rates; risks arising from holding derivative instruments; the level of
liquidity and capital resources; access to capital markets, and financing;
mining tax regimes; ability to successfully integrate acquired assets;
legislative, political or economic developments in the jurisdictions in which
the Company carries on business; operating or technical difficulties in
connection with mining or development activities including geotechnical
difficulties and seismicity; laws and regulations governing the protection of
the environment; employee relations; availability and increasing costs
associated with mining inputs and labour, negotiations with respect to new,
reasonable collective labour agreements may not be successful which could lead
to a strike or work stoppage in the future, and any such strike or work stoppage
could have a material adverse effect on the Company's earnings and financial
condition; the speculative nature of exploration and development, including the
risks of diminishing quantities or grades of reserves; adverse changes in the
Companys credit rating; contests over title to properties, particularly title
to undeveloped properties; the ability to deliver gold as required under forward
gold sale arrangements; the rights of counterparties to terminate forward gold
sale arrangements in certain circumstances, the inability to participate in any
gold price increase above the cap in any collar transaction entered into in
conjunction with a forward gold sale arrangement, such as the collar entered
into in conjunction with the gold sold forward in January of 2019; and the risks
involved in the exploration, development and mining business. The Company is
also subject to litigation and legal and political risks. Risks and unknowns
inherent in IAMGOLD's operations and projects include the inaccuracy of
estimated reserves and resources, metallurgical recoveries, capital and
operating costs, and the future price of gold. Exploration and development
projects have no operating history upon which to base estimates of future cash
flows. The capital expenditures and time required to develop new mines or other
projects are considerable, and changes in costs or construction schedules can
affect project economics. Actual costs and economic returns may differ
materially from IAMGOLDs estimates or IAMGOLD could fail to obtain the
governmental approvals necessary for the continued development or operation of a
project.
For a comprehensive discussion of the risks faced by the
Company, and which may cause the actual financial results, operating performance
or achievements of IAMGOLD to be materially different from the Companys
estimated future results, operating performance or achievements expressed or
implied by forward-looking information or forward-looking statements, please
refer to the Companys latest Annual Information Form (AIF), filed with
Canadian securities regulatory authorities, at www.sedar.com, and filed under
Form 40-F with the United States Securities Exchange Commission, at
www.sec.gov/edgar.shtml. The risks described in the AIF (filed and viewable on
www.sedar.com and www.sec.gov/edgar.shtml, and available upon request from the
Company) are hereby incorporated by reference into this news release.
The Company disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new information,
future events or otherwise except as required by applicable law.
Qualified Person Information
The technical information relating to exploration activities
disclosed in this news release was prepared under the supervision of, and
reviewed and verified by, Craig MacDougall, P.Geo., Senior Vice President,
Exploration, IAMGOLD. Mr. MacDougall is a Qualified Person as defined by
National Instrument 43-101.
11
About IAMGOLD
IAMGOLD (www.iamgold.com) is
a mid-tier mining company with four operating gold mines on three continents. A
solid base of strategic assets in North and South America and West Africa is
complemented by development and exploration projects and continued assessment of
accretive acquisition opportunities. IAMGOLD is in a strong financial position
with extensive management and operational expertise.
For further information please
contact:
Indi Gopinathan, Investor Relations Lead, IAMGOLD
Corporation
Tel: (416) 360-4743 Mobile: (416) 388-6883
Martin Dumont, Senior Analyst, Investor
Relations, IAMGOLD Corporation
Tel: (416) 933-5783 Mobile: (647)
967-9942
Toll-free: 1-888-464-9999 info@iamgold.com
Please note:
This entire news release may be accessed via fax, e-mail,
IAMGOLD's website at www.iamgold.com and through Newsfile's website at www.newsfilecorp.com. All material information on
IAMGOLD can be found at www.sedar.com or at
www.sec.gov.
Si vous désirez obtenir la version française de ce communiqué
de presse, veuillez consulter le
http://www.iamgold.com/French/accueil/default.aspx.
12
This regulatory filing also includes additional resources:
exhibit99-1.pdf
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