Have you been paying attention to shares of Iamgold (IAG) ? Shares have been on the move with the stock up 22.4% over the past month. The stock hit a new 52-week high of $4.55 in the previous session. Iamgold has gained 77.1% since the start of the year compared to the 0.8% move for the Zacks Basic Materials sector and the 15.9% return for the Zacks Mining - Gold industry. What's Driving the Outperformance? The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consens ...

Financial Data and Key Metrics Changes - Revenue from continuing operations totaled $338.9 million from sales of 163,000 ounces at a record average realized price of $2,077 per ounce, leading to an adjusted EBITDA of $152.5 million compared to $110.6 million in Q4 2023 and $83 million in Q1 2023 [15][41] - Adjusted earnings per share was $0.11 for the quarter compared to $0.06 in Q4 2023 and $0.05 in Q1 2023 [15] - Cash and cash equivalents at the end of the quarter were $291.2 million, with total liquidity approximating $603.8 million [41] Business Line Data and Key Metrics Changes - Essakane reported first quarter cash costs of $1,002 per ounce and an all-in sustaining cost of $1,312 per ounce, an improvement from the prior quarter due to higher production and sales volume [18] - Westwood produced 32,000 ounces in Q1, with cash costs averaging $1,236 per ounce and all-in sustaining costs averaging $1,836 per ounce, marking a nearly 30% decrease from the previous year [48] - Côté Gold achieved its first gold pour at the end of Q1, with mining activity totaling 7.6 million tons, including 1.9 million tons of ore [22] Market Data and Key Metrics Changes - The realized gold price was significantly high, with the average realized price including the impact of the gold prepay arrangement [15][69] - The company expects cash costs at Côté Gold to be in the range of approximately $700 to $800 per ounce sold as it ramps up production [28] Company Strategy and Development Direction - IAMGOLD aims to become a leading mid-tier and modern gold producer, focusing on ramping up Côté Gold to achieve commercial production in Q3 2024 [8][38] - The company is prioritizing options to return to a 70% interest in Côté Gold, believing the project's value exceeds current market sentiment [10] - IAMGOLD is committed to a zero-harm principle in health and safety, achieving a total recordable injury rate of 0.61, which is below last year's performance [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving commercial production at Côté Gold in Q3 2024, with all key equipment operating near nameplate capacity [38] - The company noted emerging risks related to VAT reimbursements in Burkina Faso, which have not been received in recent quarters [13] - Management highlighted the strong performance of Essakane and Westwood, positioning the company well for its annual guidance targets [9] Other Important Information - Project expenditures in Q1 totaled $196.3 million, with total project expenditures for Côté Gold since construction commencement reaching $2.935 billion of the planned $2.965 billion [53] - The company is conducting a drill program targeting the central zone of the Gosselin project, with results expected later in the year [29] Q&A Session Summary Question: How does the decline in grades at Essakane look over the course of the year? - Management indicated that while grades are expected to decline, they remain confident in achieving throughput targets and have made adjustments to improve operations [58] Question: Can you provide insights on the realized gold price? - The realized gold price was noted to be high, with specific figures discussed regarding the impact of prepaid arrangements [69] Question: What is the current status of mill utilization rates at Côté? - Management stated that they are systematically addressing bottlenecks and are confident in achieving their objectives for ramp-up [78] Question: What are the expectations for recovery rates once the gravity circuit is operational? - Current recovery rates are around 81%, with expectations for improvement once the gravity circuit is fully commissioned [91]

Photo by Daniel Berehulak/Getty ImagesGetty ImagesInternational Consolidated Airways (IAG) has made a strong start to the year with robudt travel spending from holidaymakers and business travellers enduring.At 184.9p per share, IAG’s share price rose 1.1% in Friday trading.Revenues at the British Airways owner rose 9.2% in the first quarter, to €6.4 billion, as passenger revenues increased 11.7% to €5.6 billion.Cargo revenues dipped 12.4% year on year, to €283 million.Strong NumbersThe FTSE 100 firm carried ...

Shares of IAMGOLD Corporation (IAG) scaled a new 52-week high of $3.80 on Apr 5, before closing the session a tad lower at $3.72.The stock rose on the announcement of its first gold pour at the Côté Gold Mine, located in Ontario, Canada, on Mar 31, 2024. This marks a milestone for IAG as the mine is expected to significantly boost its production while lowering the cost profile. The company’s share price surged as gold prices hit record levels due to multiple factors like U.S. interest rate cut bets, geopoli ...

IAMGOLD Provides Notice of First Quarter 2024 Results and Conference CallApril 05, 2024 7:00 AM EDT | Source: IAMGOLD CorporationToronto, Ontario--(Newsfile Corp. - April 5, 2024) - IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) ("IAMGOLD" or the "Company") is pleased to announce it plans to release its first quarter 2024 operating and financial results after market hours on Thursday, May 9, 2024. Senior management will host a conference call to discuss the operating performance and financial resu ...

Financial Reporting and Regulatory Compliance - IAMGOLD has filed its 2023 annual audited financial statements, management discussion and analysis, and annual information form (AIF) with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities[1][2] Project Development and Production - The Côté Gold project, a large-scale, long-life project in Canada, is expected to commence production in the first quarter of 2024[4] Corporate Governance and ESG Practices - IAMGOLD employs approximately 3,600 people and is committed to high standards of Environmental, Social, and Governance (ESG) practices[4] Stock Exchange Listings and Indices - The company is listed on both the New York Stock Exchange (NYSE:IAG) and the Toronto Stock Exchange (TSX:IMG) and is part of the Jantzi Social Index[4]

Financial Performance - Adjusted EBITDA from continuing operations in 2023 was $315.1 million[8] - Cash and cash equivalents as of December 31, 2023, amounted to $367.1 million[7,8] - Available liquidity as of December 31, 2023, was $754.1 million[8] Production and Costs - 2023 attributable gold production was 465,000 ounces, at the top end of the guidance of 410,000 - 470,000 ounces[18,20] - The cost of sales for 2023 was $1,291 per ounce sold[8,20] - Cash costs for 2023 were $1,261 per ounce sold[8,20] - All-in sustaining costs (AISC) for 2023 were $1,783 per ounce sold[8,20] Côté Gold Project - Côté Gold is expected to start production at the end of Q1 and ramp up to commercial production in Q3[3] - Estimated cost to first gold at Côté (100% basis) is $179 million, in line with the planned total expenditure of $2.965 billion (± 1.5%)[8] - Côté Gold Project (100% basis) is expected to produce 220,000 – 290,000 ounces in 2024[18,90] - Côté Gold construction was approximately 98% complete as of December 31, 2023[18,67] Essakane Mine - Essakane achieved record Health & Safety performance in 2023, with a 0.06 DARTFR and 0.18 TRIFR[8,20] - Mineral Resource estimate of 3.4 million ounces, including stockpiles, at an average grade of 1.21 g/t, up 19% from year end 2022[27] Westwood Mine - Westwood reported Q4 production of 28,000 ounces, the highest quarter of production since the mine restart in 2021[20] - Mineral Reserve estimate (underground) of 1.1 million ounces at an average grade of 10.62 g/t, an increase of 123% from year end 2022[49]

MICH CHANGER Q3 2023 CONFERENCE CALL CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION The Company cautions the reader that 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, financial, operational and other risks, uncertainties, contingencies and other factors, including those described below, which could cause actual results, performance or achievements of the ...

Financial Performance & Liquidity - IAMGOLD's Q2 2023 revenues were $238.8 million compared to $232.1 million in Q2 2022[129] - The company had cash and cash equivalents of $747.7 million as of June 30, 2023, and total liquidity of $1.2 billion[52, 129] - A $400 million second lien secured term loan was announced to improve financial flexibility and liquidity[52] - Mine-site free cash flow was $14.6 million in Q2 2023, compared to $36.4 million in Q2 2022[4, 129] Operations - Attributable gold production in Q2 2023 was 107,000 ounces[39, 52] - Essakane produced 88,000 ounces in Q2 2023[67, 73] - Westwood produced 19,000 ounces in Q2 2023[2, 85] - Cash costs for continuing operations were $1,372 per ounce sold in Q2 2023[40] - All-in sustaining costs (AISC) for continuing operations were $1,912 per ounce sold in Q2 2023[38, 69] Côté Gold Project - The Côté Gold project was approximately 86% complete and on track for production early next year[38] - The estimated cost to complete Côté Gold (at 100% basis) is $665 to $735 million, in line with the planned total expenditure of $2.965 billion[52] - IAMGOLD's estimated remaining funding requirement for Côté Gold is $425 to $475 million (adjusted for 60.3% interest, leases, and working capital adjustments)[52, 118] - Incurred project expenditures of $270.1 million (at 100%) or $189.1 million (at 70%) in Q2 2023[137]

The company plans to file an updated life of mine for Essakane and an updated mineral reserve resources during the fourth quarter of 2023. This will include the details of assessing the 9.9 million tonnes of stockpile material through the CIO circuit versus the prior plan to outline capital intensive heat leach scenario. On Slide 7. Turning to Westwood. Gold production was 19,000 ounces in the quarter. 40,000 ounces year-todate. Westwood continues to be in a unique position, as IAMGOLD has been essentially ...