IAMGOLD produced 186,900 ounces (oz) of gold in the quarter ended September 30 and remains on track to achieve its full-year guidance of 720,000 oz to 820,000 oz, according to chief executive and president Renaud Adams.
The company generated revenue of $856.5 million for the quarter from the sale of 199,900 oz of gold at an average realised gold price of $4,277/oz.
It reported mine-site free cash flow of $404 million and available liquidity of $1.61 billion at period end.
During the quarter, IAMGOLD returned $135 million to shareholders through share buybacks, bringing total repurchases to nearly $600 million since the programme began last December.
Operationally, the Côté gold mine completed its first full quarter without contractor crushing and operated above nameplate capacity in September.
It is positioned to deliver its strongest quarter of the year in the fourth quarter.
The Westwood gold complex is tracking toward the upper end of its production guidance, while the Essakane gold mine in Burkina Faso remained a significant cash flow contributor.
In strategic developments, IAMGOLD completed the divestiture of its 35% interest in the Bambadji joint venture in Senegal for net proceeds of $48 million.
On November 5, the company delivered an irrevocable notice to Franco-Nevada to repurchase 50% of its existing 7.5% gross margin royalty over the Côté gold mine, reducing the payable royalty to 3.75%.
Adams said that upcoming milestones include an updated Côté mine plan expected later this year, an extended mine life at Essakane, a preliminary economic assessment for the Nelligan Mining Complex, and Westwood's underground expansion potential.
Mathew Nyaungwa, Editor-in-Chief, Rough & Polished
