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IAMGOLD Announces Preliminary 2024 Operating Results & 2025 Guidance
IAGIAMGOLD(IAG) Newsfile·2025-01-14 12:00

Core Insights - IAMGOLD Corporation announced preliminary operating results for 2024, reporting a total attributable gold production of 667,000 ounces, a 43% increase from the previous year, driven by the successful ramp-up of the Côté Gold Mine [5][7][8] - The company provided guidance for 2025, expecting attributable gold production to range from 735,000 to 820,000 ounces, with cash costs projected between 1,200and1,200 and 1,350 per ounce sold [5][16][24] 2024 Highlights - IAMGOLD achieved annual gold sales of 654,000 ounces at an average realized gold price of approximately 2,326perounce[7][12]−TheCo^teˊGoldMineproduced124,000ouncesinitsfirstninemonthsofoperation,withafourth−quarterproductionof62,000attributableounces[8][9]−EssakaneandWestwoodminesalsoperformedwell,withEssakaneproducing409,000ouncesandWestwoodproducing134,000ounces,bothexceedingtheirupdatedguidanceranges[12][13]Co^teˊGoldRamp−Co^teˊGoldMine′sramp−uphasshownpositivemomentum,achievingamonthlyproductionof37,000ouncesinNovemberandDecember2024[9][10]−Theplantoperatedatanaverageof872,326 per ounce [7][12] - The Côté Gold Mine produced 124,000 ounces in its first nine months of operation, with a fourth-quarter production of 62,000 attributable ounces [8][9] - Essakane and Westwood mines also performed well, with Essakane producing 409,000 ounces and Westwood producing 134,000 ounces, both exceeding their updated guidance ranges [12][13] Côté Gold Ramp - Côté Gold Mine's ramp-up has shown positive momentum, achieving a monthly production of 37,000 ounces in November and December 2024 [9][10] - The plant operated at an average of 87% of designed throughput over a two-week period in December, with a record daily throughput of 42,635 tonnes [9][10] - Production from Côté Gold is expected to approximately double in 2025, with a target of achieving steady-state throughput of 36,000 tonnes per day by the fourth quarter [5][17] 2025 Outlook - IAMGOLD's operational guidance for 2025 includes gold production of 885,000 to 980,000 ounces on a 100% basis, with cash costs and AISC expected to decrease from 2024 levels [16][23] - Côté Gold's attributable production is projected to be between 250,000 and 280,000 ounces, with a focus on stabilizing operations and improving throughput [17][20] - Westwood's production is expected to be in the range of 125,000 to 140,000 ounces, while Essakane is projected to produce 360,000 to 400,000 ounces [22][24] Cash Costs & AISC - Cash costs for Côté Gold are expected to be between 950 and 1,100perouncesold,whileAISCisprojectedtobebetween1,100 per ounce sold, while AISC is projected to be between 1,350 and 1,500perouncesold[20][23]−Westwood′scashcostsareanticipatedtorangefrom1,500 per ounce sold [20][23] - Westwood's cash costs are anticipated to range from 1,175 to 1,325perouncesold,withAISCbetween1,325 per ounce sold, with AISC between 1,675 and 1,825perouncesold[23]−Essakane′scashcostsareexpectedtobehigherin2025,rangingfrom1,825 per ounce sold [23] - Essakane's cash costs are expected to be higher in 2025, ranging from 1,400 to 1,550perouncesold,duetolowergrademilledandincreasedlocalspending[25][26]Exploration−Explorationexpendituresfor2025areexpectedtobeapproximately1,550 per ounce sold, due to lower grade milled and increased local spending [25][26] Exploration - Exploration expenditures for 2025 are expected to be approximately 38 million, with significant spending planned at Côté Gold and Essakane [27][28] - The Côté Gold exploration plan includes ongoing diamond drilling to convert Inferred Mineral Resources to Indicated and testing prospective targets in the area [30][31]