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boto-gold-project-senegal

Boto Gold Project, Senegal

Location

Senegal, West Africa

Ownership

90% IAMGOLD; 10% Government of Senegal

Project Status

Optimization Study announced January 13, 2020

Reserves and Resources (Attributable Basis)

  • Total Proven and Probable Reserves of 1.4 million ounces.
  • Total Indicated Resources (inclusive of Reserves) of 1.8 million ounces.
  • Total Inferred Resources of 0.4 million ounces.

OPTIMIZATION STUDY HIGHLIGHTS (100% BASIS)

Project Economics and Key Parameters FS-2018 Optimization study 2019 Optimization study 2019
Gold Price Assumption used in financial analysis $1,250/oz $1,250/oz $1,350/oz
Mining Capacity at peak 33 Mtpa 38 Mtpa 38 Mtpa
Milling Capacity (hard rock equivalent) 2.5 Mtpa 2.7 Mtpa 2.7 Mtpa
Average Annual Gold Production (Years 1-6) 160,000 oz 160,000 oz 160,000 oz
LOM Average Annual Gold Production 140,000 oz 130,000 oz 130,000 oz
LOM Average Recovery Rate 89.4% 89.4% 89.4%
Mine Life 12.8 years 11 years 11 years
LOM Average Total Cash Costs $714/oz $760/oz $778/oz
LOM Average AISC $753/oz $824/oz $842/oz
Average Grade 1.71 g/t Au 1.71 g/t Au 1.71 g/t Au
Average LOM Strip Ratio 5.8:1 7.5:1 7.5:1
Estimated Capital Expenditure
Initial Capital $254 million $271 million $271 million
Sustaining Capital $66 million $68 million $68 million
After-tax NPV (6%) $261 million $150 million $219 million
After-tax IRR 23.0% 17.7% 22.6%
Payback Period 3.4 years 3.8 years 3.2 years

€ /US$ exchange rate of 1:1.20; Oil price of $75 per barrel.
Note: the Company has the option to lease finance mining equipment

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