(MENAFN – Newsfile Corp) IAMGOLD Meets 2020 Guidance: Producing 653,000 Ounces of Gold and Exiting the Year with $950 Actor in Banknote on Hand All 2020 abstracts are basic and unaudited and answerable to final adjustment. All amounts are in US dollars, unless contrarily indicated.
Toronto, Ontario–(Newsfile Corp. – January 19, 2021) – IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) (“IAMGOLD” or the “Company”) announces basic operating after-effects for the fourth division and anniversary 2020, as able-bodied as advice for 2021.
Gordon Stothart, President and CEO of IAMGOLD, commented, “We accomplished our ambition assembly and bulk advice in 2020 in the face of abounding and assorted challenges throughout the year. Essakane had its arch division at the end of the year, Rosebel assembly was up quarter-over-quarter and Westwood contributed by processing accrue and Grand Duc accessible pit ore. Looking forward, IAMGOLD’s different advance belvedere will accredit our transformation to a lower bulk ambassador of over one actor ounces of anniversary assembly aural the abutting two-and-a-half years. Our North American belvedere will see focused beheading on the advancing architecture at the Côté Gold Activity and we additionally apprehend to complete a beginning adeptness appraisal at the adjacent Gosselin discovery, with added avant-garde analysis at the Nelligan / Monster Lake district. We are developing our West African belvedere through advancing de-risking at the Boto Gold Activity in Senegal, and through the analysis and appraisal of adjacent deposits and new discoveries, forth with accessory targets anchored by the Rosebel abundance at our South American platform.”
Full year attributable assembly of 653,000 ounces was in-line with the balance of assembly advice of 630,000 to 680,000 ounces. Attributable gold assembly for the fourth division 2020 was 169,000 ounces.
Total banknote costs for 2020 are accepted at the basal end of advice of $980 to $1,010 per ounce produced, and all-in comestible costs are accepted to be at the basal end of advice of $1,240 to $1,270 per ounce sold.
As acclaimed in the aloft table, our assembly advice of 630,000 to 700,000 ounces reflects assumptions for Westwood answerable to a business chain appraisal as able-bodied as lower ore availability and college planned stripping at Rosebel. The all-around COVID-19 crisis is accepted to abide to affect our operations, including incremental costs and abundance impacts. While the absolute appulse continues to evolve, the appulse could be cogent in approaching periods, affecting our advice for approaching years.
All-in comestible bulk advice of $1,230 to $1,280 per ounce for 2021 reflects advancing efforts to advance abundance and optimize achievement above all the sites. Readers are reminded that the advice we accommodate is anniversary and that annual aberration is normal.
2021 CAPITAL EXPENDITURE OUTLOOK
In 2021, we apprehend basic spending to be $710 actor ± 5%. The access in spending over 2020 reflects Côté architecture spending primarily focused on above earthworks and infrastructure, accepted college capitalized stripping at both Essakane and Rosebel as a aftereffect of COVID-19 accompanying impacts in 2020 on life-of-mine pit sequencing and Boto de-risking activities. Detailed development activity updates are accepted to be provided with fourth division 2020 operating and banking after-effects on February 17th, 2021.
Rosebel’s non-sustaining basic of $75 actor includes the achievement of non-critical aisle items accompanying to Saramacca construction, targeted for achievement in the aboriginal bisected of 2021, and non-sustaining capitalized stripping of $45 million. Essakane’s non-sustaining basic of $90 actor primarily comprises $65 actor in capitalized stripping for approaching assembly and the achievement of the comminute access project, targeted for achievement aboriginal in the additional division of 2021. Westwood’s non-sustaining basic of $10 actor is primarily for underground development.
Sustaining basic advice of $120 actor and is accepted to be college than the bulk expended in 2020. Absolute comestible capitalized stripping of $10 actor is included in comestible basic and is additionally accepted to be hardly college than in 2020. Both increases reflect resequencing of activities from 2020.
2021 EXPLORATION PLAN
Through our advancing charge to a abiding and acclimatized analysis program, we accept accustomed a clue almanac of analysis and adeptness curve that we apprehend will abide to access our Mineral Assets and abutment our ambition of not alone sustaining, but growing, Mineral Reserves in the future.
In 2021, planned analysis affairs spending (excluding activity studies) will absolute $56 actor on both our near-mine brownfield and greenfield analysis programs. Brownfield programs will abide to focus on adeptness about-face at all our operational sites, as able-bodied as appraise associated bounded targets to analyze and delineate, as required, abeyant new accessory assets to sustain approaching production, including advancing the “Hub and Spoke” operational abstraction for Westwood at the Fayolle and Rouyn Gold projects in Quebec.
Our greenfield affairs will abide to focus on the curve and amplification of absolute assets at our development and avant-garde adeptness date projects including: the Gosselin area at the Côté Gold Activity in arctic Ontario, the Diakha drop and Karita analysis abreast the Boto Gold Activity as allotment of our Bambouk bounded affairs in West Africa, and at the Nelligan Gold Activity in Quebec. In addition, we abide to analyze for new discoveries in our industry arch portfolio of avant-garde to early-stage Greenfield projects.
FOURTH QUARTER AND FULL YEAR 2020 FINANCIAL RESULTS
IAMGOLD will absolution its fourth division and abounding year 2020 banking after-effects afterwards bazaar hours on Wednesday, February 17 th , 2021 .
A appointment alarm will be captivated on Thursday, February 18 th , 2021, at 8:30 a.m. (Eastern Time) for a altercation with administration apropos IAMGOLD’s 2020 fourth division and full-year operating achievement and banking results. A webcast of the appointment alarm will be accessible through the IAMGOLD’s website at […] .
Conference Alarm Information:
North America Toll-Free: 1-800-319-4610 or International number: 1-604-638-5340
A epitomize of this appointment alarm will be accessible for one ages afterward the alarm by dialing:
North America toll-free: 1-800-319-6413 or International number: 1-604-638-9010 , passcode: 5818#
Please punch in 5 – 10 account above-mentioned to the appointed alpha time as alarm volumes are heavy. If you are still clumsy to affix from your primary blast arrangement afterwards attempting all of the dial-in numbers provided, if available, amuse retry application an alternating blast network.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This account absolution contains advanced statements. All statements, added than of absolute fact, that abode activities, contest or developments that the Aggregation believes, expects or anticipates will or may action in the approaching are advanced statements. Advanced statements are about identifiable by, but not bound to, the use of the words “may”, “will”, “should”, “continue”, “expect”, “budget”, “forecast”, “anticipate”, “estimate”, “believe”, “prospective”, “significant”, “potential”, “significant potential”, “substantial”, “transformative”, “intend”, “plan” or “project” or the abrogating of these words or added variations on these words or commensurable terminology, and may be begin beneath the sections “Performance Highlights for 2020”, “Guidance Highlights for 2021”, “2020 Basic Operating Results”, “2021 Assembly and Bulk Outlook”, “2021 Basic Expenditure Outlook” and “2021 Analysis Plan”. Advanced statements are answerable to a cardinal of risks and uncertainties, abounding of which are above the Company’s adeptness to ascendancy or predict, that may account the absolute after-effects of the Aggregation to alter materially from those discussed in the advanced statements. Factors that could account absolute after-effects or contest to alter materially from accepted expectations include, amid added things, after limitation, abortion to accommodated expected, estimated or planned gold production, abrupt increases in all-in comestible costs or added costs, abrupt increases in basic expenditures and analysis expenditures, aberration in the mineral agreeable aural the actual articular as Mineral Assets and Mineral Reserves from that predicted, changes in development or mining affairs due to changes in logistical, abstruse or added factors, the achievability that approaching analysis after-effects will not be constant with the Company’s expectations, changes in apple gold markets and added risks appear in IAMGOLD’s best contempo Form 40-F/Annual Advice Form on book with the United States Balance and Barter Commission and Canadian balance authoritative authorities. Any advanced account speaks alone as of the date on which it is fabricated and, except as may be appropriate by applicative balance laws, the Aggregation disclaims any absorbed or obligation to amend any advanced statement. The Aggregation disclaims any ambition or obligation to amend or alter any advanced statements whether as a aftereffect of new information, approaching contest or contrarily except as appropriate by applicative law.
End Notes ( excluding tables )
IAMGOLD is a mid-tier mining aggregation with three gold mines on three continents, including the Essakane abundance in Burkina Faso, the Rosebel abundance in Suriname, and the Westwood abundance in Canada. A solid abject of cardinal assets is complemented by the Côté Gold architecture activity in Canada, the Boto Gold development activity in Senegal, as able-bodied as greenfield and brownfield analysis projects in assorted countries amid in West Africa and the Americas. IAMGOLD aims to become a million-ounce gold ambassador as it executes on its advance strategy, including bringing Côté Gold, its fourth mine, online.
IAMGOLD is committed to advancement its ability of answerable mining through aerial standards of ESG practices and employs about 5,000 people. IAMGOLD’s charge is to Zero Harm, in every aspect of its business. IAMGOLD is one of the companies on the JSI index.
IAMGOLD is listed on the Toronto Stock Barter (trading attribute “IMG”) and the New York Stock Barter (trading attribute “IAG”).
For added advice amuse acquaintance :
Indi Gopinathan , VP, Investor Relations & Corporate Communications, IAMGOLD CorporationTel: (416) 360-4743 Mobile: (416) 388-6883
Philip Rabenok , Senior Analyst, Investor Relations, IAMGOLD CorporationTel: (416) 933-5783 Mobile: (647) 967-9942
This absolute account absolution may be accessed via fax, e-mail, IAMGOLD’s website at […] and through Newsfile’s website at […] . All actual advice on IAMGOLD can be begin at […] or at […] .
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