In This Article:
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Attributable Production: 161,000 ounces in Q1 2025.
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Cash Costs: $1,459 per ounce in Q1 2025.
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All-in Sustaining Costs: $1,908 per ounce in Q1 2025.
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Mine Site Free Cash Flow: $140 million in Q1 2025, up from $46 million in Q1 2024.
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Revenue: $477.1 million from sales of 174,000 gold ounces in Q1 2025.
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Adjusted EBITDA: $204.5 million in Q1 2025, compared to $152.5 million in Q1 2024.
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Adjusted Earnings: $55.2 million or $0.10 per share in Q1 2025.
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Cash and Cash Equivalents: $316.6 million at the end of Q1 2025.
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Net Debt: $882.3 million at the end of Q1 2025.
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Liquidity: Approximately $745.8 million as of March 31, 2025.
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Gold Prepay Arrangements: Delivered 37,500 ounces in Q1 2025, with 25,000 ounces remaining as of April 2025.
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Average Realized Gold Price: $2,731 per ounce, including gold prepay impact; $2,909 per ounce excluding it.
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Cote Gold Production: 73,000 ounces on a 100% basis in Q1 2025.
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Westwood Production: 24,000 ounces in Q1 2025.
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Essakane Production: 86,000 ounces attributable in Q1 2025.
Release Date: May 07, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Iamgold Corp (NYSE:IAG) achieved a significant milestone at Cote Gold, reaching 90% of nameplate capacity, with expectations to reach full capacity by the end of the year.
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The company reported a 7% year-over-year increase in production, driven by the addition of Cote Gold.
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Iamgold Corp (NYSE:IAG) has a strong liquidity position with approximately $745.8 million available, providing financial flexibility.
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The company is on track to meet its 2025 production guidance of 735,000 to 820,000 ounces, with expectations of stronger production in the latter half of the year.
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Iamgold Corp (NYSE:IAG) is conducting a significant drill program at Cote and Gosselin zones, aiming to expand its resource base and enhance future production potential.
Negative Points
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First-quarter production was lighter than expected at both Cote and Westwood, impacting overall performance.
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Cash costs averaged $1,459 per ounce, and all-in sustaining costs were $1,908 per ounce, indicating high operational expenses.
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The company is still working through its gold prepayment arrangement, which affects cash flow and debt levels.
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Essakane's costs have increased due to higher fuel prices and security-related expenses, impacting profitability.
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Westwood experienced lower grades due to temporary equipment challenges, affecting production volumes and costs.
Q & A Highlights
Q: Can you provide an update on the mining rates and grades at Cote, particularly regarding the stockpile levels and how grades will evolve over the year? A: The mining grade is expected to increase towards 1 gram per ton in the coming quarters. We have about 2 million tonnes grading over 0.8 gram per tonne and 8 million tonnes at 0.55 gram per tonne. The grade of ore mined will be higher than 0.78 in the next quarter.