Iamgold Corp (FRA:IAL)

Q2 2026 IAMGOLD Corp Earnings Call Transcript

Aug 7, 2026 / 12:30 PM GMT

Release Date Price: €15.66 (+12.34%)

Transcript

Key Points

Positve

Iamgold Corp (IAG) produced 188,100 ounces of gold in Q2 2026, bringing year-to-date production to 371,700 ounces, positioning the company firmly on track to meet its full-year guidance of 720,000 to 820,000 ounces.
The company generated nearly $900 million in mine-site free cash flow year-to-date, a 290% increase compared to the same period in 2025, and ended the quarter in a net cash position with approximately $1.35 billion in total liquidity.
Iamgold Corp (IAG) has repurchased approximately 208 million shares for $510.4 million since December, returning about 45% of mine-site free cash flow to shareholders, reflecting confidence in the company's value.
At Cote, the plant operated at near full capacity in June following the conveyor belt replacement and commissioning of the second crusher, with processing costs dropping to $17.72 per ton in June from an average of $22.5 per ton over the prior three quarters.
The company is advancing multiple growth projects, including an updated technical report at Cote integrating the Gosselin deposit, a mine life extension study at Essakane, and an inaugural technical report for the Nelligan complex, all expected within the next 12-18 months.
Essakane delivered another strong quarter with 88,400 attributable ounces, a 15% increase year-over-year, and generated $464.8 million in mine-site free cash flow year-to-date, even after a $60.2 million tax payment.

Negative

Cash costs, including royalties, were $1,289 per ounce in Q2, tracking towards the upper half of guidance, with royalties adding approximately $380 per ounce due to higher gold prices, about $55 per ounce above guidance assumptions.
Oil prices were approximately $25-$30 per barrel above guidance assumptions, adding about $35 per ounce to costs, and the company continues to monitor inflation and energy market volatility.
At Cote, costs remain elevated due to external contractor crushing, contractor support for conveyor repair, and scheduled maintenance, with mining and milling costs still above target at $20.80 per ton and $20.05 per ton, respectively.
The company has deferred the larger expansion scenario at Cote (from 40,000 to 50,000 tons per day), which was previously estimated to require $500-$750 million in capital, as it takes time to assess multiple scenarios and optimize the development path.
The company faces ongoing royalty burdens, particularly at Essakane where royalties accounted for $110 per ounce, representing approximately 30% of cash costs, and at Cote where royalties were $309 per ounce, or 20% of cash costs.
The company made a $74 million payment to the government of Burkina Faso related to the Essakane dividend distribution, and expects to pay an additional $26.8 million in withholding tax in Q3, impacting cash flow.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

IMG.TO - Iamgold Corp
Q2 2026 IAMGOLD Corp Earnings Call
Aug 07, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for standing by., this is the conference operator.

Welcome to the I am Gold second quarter 2026 operating and financial results conference call and webcast, as a reminder, all participants are in listen-only mode, and the conference is being recorded.

After the presentation, there will be an opportunity to ask questions.

To join the question queue, you may pressar then 1 on your telephone keypad should you need assistance during the conference call, you may reach an operator by pressing.

Arha at this time I would like to turn the conference over to Jennings, Vice President Business Development and Investor Relations, for I am Gold.

Please go ahead, Mr. Jennings.

Thank you, operator,

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