Canada · Delayed Price · Currency is CAD IAMGOLD Earnings Call Transcripts
Fiscal Year 2026
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Production is ramping up across Canadian and West African mines, with a focus on cost reduction and efficiency at Côté Gold. Strong cash flow is driving debt reduction and share buybacks, while major expansion studies at Côté, Essakane, Westwood, and Nelligan are set to drive future growth.
Fiscal Year 2025
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Record revenues and cash flow were achieved on the back of historic gold prices, with strong production across all sites and significant cost improvements in Q4. Share buybacks and debt reduction were prioritized, while major resource upgrades and asset consolidations position the company for future growth.
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Record free cash flow and strong gold production drove significant debt reduction and enabled a new share buyback program. Strategic acquisitions in Quebec position the company for long-term growth, while operational improvements at Côté and Essakane support robust guidance despite cost pressures.
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Côté Gold ramped up ahead of schedule, driving strong Q2 production and cash flow, though costs rose due to royalties and ramp-up activities. Full-year guidance is reaffirmed, with a stronger H2 expected and key cost reductions anticipated after the Q4 crusher installation.
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Q1 2025 saw 161,000 ounces of gold produced, a 7% year-over-year increase, with Côté ramping up to 90%+ nameplate throughput and strong cash flow generation. Guidance for 2025 is reaffirmed, with a stronger second half expected and a focus on debt reduction before shareholder returns.
Fiscal Year 2024
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Gold production rose 43% year-over-year to 667,000oz, with strong contributions from Côté Gold, Essakane, and Westwood. Revenues hit $1.6 billion, adjusted EBITDA doubled, and liquidity reached $767 million, while updated reserves at Nelligan and Essakane support future growth.
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Q3 2024 delivered strong gold production, record EBITDA, and positive free cash flow at Côté Gold. Guidance was reiterated, with Essakane and Westwood at the upper end of ranges and Côté ramping up. Debt reduction remains a priority, with shareholder returns targeted for 2026 and beyond.
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Q2 saw strong production and financial results, with Côté Gold achieving commercial production and Essakane and Westwood outperforming, leading to increased guidance and improved cost outlook. Liquidity remains robust, and capital projects are on track.