IAMGOLD's 2015 Gold Output Within Guidance

IAMGOLD Corp. (TSX:IMG,NYSE:IAG) announced its preliminary operating results for 2015, plus its 2016 guidance. In 2015, the company achieved attributable gold production of 806,000 ounces — that’s within guidance of 780,000 to 815,000 ounces.
Other 2015 performance highlights include:

• Preliminary total cash costs¹ expected to be below or at the lower end of guidance of $825 to $865 per ounce.
• Preliminary all-in sustaining costs¹ expected to be within guidance of $1,050 to $1,150 per ounce.
• Capital expenditures of approximately $240 million, 15% lower than capital expenditures on gold assets in 2014.
• Approximately $700 million in cash, cash equivalents, restricted cash and gold bullion (market value) as at December 31, 2015

¹ This is a non-GAAP measure.

2016 guidance is as follows:

• Attributable gold production expected to be between 770,000 and 800,000 ounces.
• Total cash costs expected to be between $775 and $815 per ounce.
• All-in sustaining costs expected to be between $1,000 and $1,100 per ounce.
• Capital expenditures guidance of $250 million ±10%.

Steve Letwin, president and CEO of IAMGOLD, commented:

Our preliminary operating results indicate a solid year overall in 2015. We met both our cost and production guidance, with production of 806,000 ounces exceeding the mid-point of our guidance range, driven by a 16% increase at Essakane. Westwood finished the year with production within its revised guidance range and a clear development and ramp-up plan going forward.
We begin 2016 with nearly $700 million in cash and bullion and renewed confidence in mine plans that have been updated to reflect the current gold price environment. We expect production in 2016 to be consistent with 2015 as we move forward with development to open up new mining areas at Westwood. We continue to benefit from the stronger U.S. dollar and lower oil prices, and these factors, together with further opportunities to lower costs and improve productivity, have enabled us to reduce all-in sustaining cost guidance by $75 an ounce for the second year in a row to a range of $1,000 to $1,100 in 2016.

Click here to read the full IAMGOLD Corp. (TSX:IMG,NYSE:IAG) press release.