Successful Ramp-up of Côté Gold
Côté Gold mine achieved nameplate throughput of 36,000 tonnes per day ahead of schedule, producing 96,000 ounces in the quarter. The mine's performance included a positive reconciliation of 7% to both reserve tonnes and grade.
Increased Gold Production Guidance
IAMGOLD is on track to achieve its production guidance target of 735,000 to 820,000 ounces of gold for the year, with expected stronger production in the second half due to improvements at Côté, Essakane, and Westwood.
Record Average Realized Gold Price
The average realized gold price for the quarter was $3,182 per ounce, contributing to record revenues of $580.9 million.
Completion of Gold Prepayment Arrangement
IAMGOLD concluded its gold prepayment arrangement, delivering 75,000 ounces this year, which translates to approximately $200 million of value.
Strong Financial Position
The company ended the quarter with liquidity of approximately $616.5 million, including $223.8 million in cash and cash equivalents.
Significant Dividend Declaration at Essakane
Essakane declared a significant dividend of approximately $855 million for the undistributed profits up to 2024, improving cash flow repatriation.