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| Statement |
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| Further, when adjusted for positive working capital movement, Westwood actually returned positive mine site free cash in the fourth quarter, an important step in its return to profitability |
| So this is how - it's both mines have been like with the Westwood continuously improving, we feel strong that we overall can beat Q4 for the year |
| Longer term, our goals for IAMGOLD remain, to be a leading intermediate gold producer with a portfolio of assets centered around a corner asset in Canada, that have a proven record and ability to generate strong, consistent free cash flows and attractive returns for shareholders |
| But as we exit the year, being now at a sustaining capital level closer to 43-101, we're very pleased with that |
| And so you're very confident on the recovery |
| Côté provides a higher production base, lower cost profile, and a long life of cash flow generation and growth opportunities in Canada |
| As a result, we were able to extend the mine life of Essakane an additional year, providing visibility for the next five years of operations, at the project with considerable cash flow generating potential, particularly as stripping requirements decline in the later years |
| Operationally, I'm very proud of the team, with a tributary gold production from continuing operations of 465,000 ounces, which was the top end of the guidance range of 410,000 to 470,000 |
| As I've said before, Côté Gold today is a project, but we believe strongly that this is the start of a mining camp and that it will provide a strong foundation for IAMGOLD for many years to come |
| Last year, IAMGOLD made significant strides, towards our goal of becoming a leading mid-tier gold producer, leveraging its assets to build a mining platform, with a long-life cornerstone asset in Canada |
| The cost profile for Westwood continues to see improvement with the increase in production |
| The updated resource at Gosselin is very exciting for the project |
| This was an important measure to improve the financial flexibility for the company for a reasonable cost, while we were also able to benefit from - forward gold prices, particularly for the first quarter of this year while we are commissioning Côté head of production by the end of the quarter |
| But when it comes to the mine, when it comes to our activities when it comes to conveying our supplies to site, we've put in place very, very strong security protocols |
| However, when investors considered a combined global resource inventory of the Côté Gold project, with its size and scope and for a mine that is effectively built, this is a very compelling potential offer for our shareholders |
| I want to take a moment, to congratulate Essakane, which achieved its best ever performance in health and safety with a days away restricted transfer duty rate of 0.06 |
| But after like what, nearly two years now, without any event, and the monitoring of the activities, and we continue to see very low energy depleted in our result, the seismic, we believe that the recipe is successful and will work |
| As we will get into in a moment, the production results were driven, by Essakane being able to operate, without disruptions and benefiting, from positive grade reconciliation |
| Further, over the last 12 months, the company has seen significant changes in leadership across the organization, with a renewed focus on operational excellence, and accountability while continuing to build on IAMGOLD's strong and widely recognized sustainability practices |
| Starting with health and safety, the company continues to perform extremely well with the days away restricted transfer duty rate of 0.39, and total recordable injury rate of 0.69, both based on 200,000-hours work |
| And of course, to be recognized as a leader in applying leading proven technologies that drives performance and sustainability across our business |
| We're now averaging almost 8 grams a tonne, and we continue to improve from the 6 grams or so we were at the start of the year |
| Turning to Côté Gold, the project saw remarkable progress last year |
| We're seeing the great reconciliation, working work very well in the high-grade zones |
| I mean we've been consistently improving |
| On a cost basis, Essakane reported fourth quarter cash costs of $1,132 per pound and an all-in sustaining cost to $1,548 an ounce, a significant improvement from the prior quarter, yet year-over-year, the cost profile has increased with 2023 annual cash costs of $1,181 per ounce and an AISC of $1,521 an ounce |
| At the current gold price of about $2,000 per ounce and with the significant improvements you've seen at that asset |
| The updated technical report, we released in December demonstrated, the successes of teams have had delineating additional ounces - within the site security parameters, which contributed to an increase in our mineral reserve and resources inventory and more than offset mine production depletions in 2023 |
| So, we'll be in very good shape as we enter '25 |
| Should we sleep, we're good |
| Statement |
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| On an annual basis, mining operation moved 43 million tonnes, 13% lower than the prior year, due to the impacts to the supply chain in the first and third quarters |
| And on ore tonnes mined of 9.6 million tonnes, we are approximately 24% less than the year prior as a result of an increase in required waste stripping as mining activities moved into Phase 5, 6, and 7 of the bit in the second half of the year in support of the '24 and 2025 mine plan |
| These costs represents, the inefficiencies experienced while the project is ramping up and not operating at design capacity, while the operational team has been fully hired |
| But we've seen that it's kind of operates some things in a tough environment |
| Under the current mine plan, 2024 represents the last year of significant sustaining capital, which is expected to decline notably in the later years of the mine plan, assuming no further extension of mine life |
| We are seeing some sign of price easing on certain consumables, but on the whole, there are several costs that have a long tail and slow to decline |
| In Burkina Faso, there is a levy on oil as well as higher transportation costs |
| So this was like - this is from far the one that has impacted probably the most |
| And we've seen as well like pressure on cost or 1,800 when we feel sometimes disruption |
| This was due to unplanned maintenance of the SAG mill liners and apron feeder |
| With further decreases, as volumes increased and as we move through the lagging impact of the recent deflations on contracts for consumables |
| Unfortunately, some situations continue sometimes and military activities |
| Maarten Theunissen Lawson, we saw - we did see a big impact, especially in Burkina Faso and - but that was impacted by higher landed cost as well because of the cost of getting our convoys to site safely now |
| So, we cannot really give accurate estimates of sustaining capital |
| There's no doubt |
| It is not that it has eliminated seismic activities, but it has reduced it to the point of the energy is so low that it does not disturb |
| The mill availability in the fourth quarter was rather low at 78%, which compared with 95% in the prior year period |
| On a year-over-year basis, we've seen a step up of cost, due to continued pressures of Essakane, as well as sustained elevated price, from the recent inflationary period |
| So we're not going to see you guys see low grade until the recovery gets up |
| However, head grades are still expected, to decline in line with the recent life of mine plan, as volume from Phases 6 and 7 increase, and from increased proportion of stockpiles ore |
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