The following is a summary of the IAMGOLD Corporation (IAG) Q3 2024 Earnings Conference Call Transcript:

Financial Performance:

• IAMGOLD reported substantial growth with third-quarter revenues totaling $438.9 million, driven by sales of 184,000 ounces at a record average realized price of $2,391 per ounce.

• Achieved net earnings of $598.1 million, including a significant reversal of impairment on Westwood totaling $462.3 million.

• Reported all-in sustaining costs (AISC) of $1,756 per ounce, with a decrease in costs compared to the previous year.

Business Progress:

• Cote Gold reached commercial production and is ramping up towards meeting its nameplate production by 2025, achieving positive free cash flow earlier in Q3.

• Growth in production was supported by efficient operations at Essakane and Westwood, with both sites positioned to produce near the upper end of their guidance ranges.

• Continuous improvements in mining equipment utilization and processing capabilities, notably at Cote Gold.

Opportunities:

• Positioned for substantial near-term growth with Cote Gold, enhancing IAMGOLD's capacity for significant cash flow generation.

• Plans to refine mining strategies to optimize operations and potentially unlock increased throughput capacities across mining sites.

Risks:

• Acknowledged higher costs associated with the initial ramp-up period of Cote Gold, including contractor costs and higher-than-planned mining rehandling expenses.

• Economic pressures that could affect production costs, especially with ongoing inflation and persistent high prices for labor.

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