IAMGOLD Corporation (IAG): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la minería de oro, IAMGold Corporation (IAG) se destaca como una potencia estratégica, transformando paisajes geológicos complejos en recursos valiosos a través de un enfoque comercial innovador y sostenible. Con las operaciones que abarcan múltiples continentes y un compromiso con el avance tecnológico, este gigante minero navega por el intrincado mercado global de oro al aprovechar las asociaciones estratégicas, las técnicas de exploración de vanguardia y un modelo comercial robusto que equilibra la eficiencia operativa con la responsabilidad ambiental. Sumérgete en el intrincado lienzo de modelo de negocio que revela cómo IAMGOLD convierte los terrenos desafiantes en oportunidades de oro, creando valor para los inversores, las comunidades y el ecosistema global de metales preciosos.

IAMGOLD CORPORATION (IAG) - Modelo de negocios: asociaciones clave

Empresas conjuntas estratégicas

IAMGold mantiene empresas conjuntas estratégicas en múltiples regiones:

Ubicación	Socio de empresa conjunta	Proyecto/mía	Porcentaje de propiedad
Canadá	Recursos mineros de VanStar	Proyecto de oro de Côté	70%
Surinam	Staatsolie	Mina de oro de rosa	95%
Burkina Faso	SEMAFO	Mina de oro karma	90%

Asociaciones de equipos y tecnología

IAMGOLD colabora con proveedores de tecnología y equipos para mejorar la eficiencia operativa:

• Caterpillar Inc. para equipos mineros
• Minería Sandvik para tecnologías de perforación
• Grupo ABB para soluciones de automatización
• MetSo Outotec para equipos de procesamiento de minerales

Relaciones gubernamentales y comunitarias

Las asociaciones clave de participación gubernamental y comunitaria incluyen:

País	Entidad gubernamental	Enfoque de colaboración
Burkina Faso	Ministerio de Minas	Cumplimiento de regulaciones mineras
Canadá	Gobierno provincial de Ontario	Evaluación ambiental
Surinam	Comunidades indígenas locales	Programas de desarrollo social

Asociaciones ambientales y de sostenibilidad

IAMGOLD se involucra con consultores especializados de sostenibilidad:

• SRK Consulting para evaluaciones de impacto ambiental
• Golder Associates para la planificación del cierre de la mina
• Consejo Internacional de Minería y Metales (ICMM)
• Consejo Mundial del Oro para Normas de Sostenibilidad

IAMGOLD CORPORATION (IAG) - Modelo de negocio: actividades clave

Operaciones de exploración y minería de oro

IAMGold opera sitios de minería de oro en varios países con los siguientes detalles operativos actuales:

País	Nombre de la mía	Producción anual (OZ)	Estado operativo
Canadá	Westwood	125,000	Activo
Surinam	Rosa	220,000	Activo
Malí	Sadiola	100,000	Activo

Desarrollo y extracción de recursos minerales

La cartera actual de desarrollo de recursos minerales incluye:

• Reservas de oro totales probadas y probables: 8.5 millones de onzas
• Base de recursos minerales estimados: 15,2 millones de onzas
• Presupuesto de exploración para 2024: $ 45 millones

Gestión y optimización del sitio de la mina

Métricas de rendimiento clave para la gestión del sitio de la mina:

Métrico	2023 rendimiento
Costo de mantenimiento totalmente en (AISC)	$ 1,250 por onza
Producción total de oro	645,000 onzas
Precio de oro promedio realizado	$ 1,940 por onza

Prácticas mineras sostenibles y cumplimiento ambiental

• Inversiones de cumplimiento ambiental: $ 22 millones en 2023
• Objetivo de reducción de emisiones de carbono: 25% para 2030
• Tasa de reciclaje de agua: 65% en todas las operaciones

Innovación tecnológica continua en procesos mineros

Métricas de inversión tecnológica e innovación:

Área tecnológica	Monto de la inversión
Equipo minero autónomo	$ 18 millones
Sistemas de gestión de minas digitales	$ 12 millones
Exploración tecnologías geoespaciales	$ 8 millones

IAMGOLD CORPORATION (IAG) - Modelo de negocio: recursos clave

Cartera de minería de oro diversificada

IAMGold opera activos mineros en los siguientes países:

País	Mina/proyecto	Tipo	Estado
Canadá	Oro de côté	Oro	Etapa de desarrollo
Surinam	Mina de rosa	Oro	Operante
Malí	Mina de oro Sadiola	Oro	Operante
Burkina Faso	Mía Essakane	Oro	Operante

Equipos e infraestructura de minería avanzada

Equipo de minería clave y detalles de infraestructura:

• Valor total de la flota minera: $ 387.4 millones
• Composición de la flota: 74 camiones de transporte
• Inversión de infraestructura minera en 2022: $ 214.3 millones
• Capacidad de la planta de procesamiento: 7.2 millones de toneladas por año

Fuerza laboral hábil

Categoría	Número de empleados
Fuerza de trabajo total	4,500
Geólogos	180
Ingenieros mineros	250
Personal técnico	1,200

Capital financiero

Recursos financieros a partir del cuarto trimestre 2023:

• Activos totales: $ 3.86 mil millones
• Efectivo y equivalentes de efectivo: $ 330.2 millones
• Deuda total: $ 698.5 millones
• Gastos de capital anuales: $ 442 millones

Derechos mineros y concesiones de tierras

Ubicación	Área total	Derechos de exploración
Canadá	45,000 hectáreas	100%
Surinam	22,500 hectáreas	90%
Malí	35,000 hectáreas	80%
Burkina Faso	28,000 hectáreas	95%

IAMGOLD CORPORATION (IAG) - Modelo de negocio: propuestas de valor

Producción de oro de alta calidad con presencia en el mercado global

A partir de 2024, IAMGold informó una producción total de oro de 638,000 onzas. La compañía opera minas en múltiples países que incluyen:

País	Mío	Producción anual (OZ)
Canadá	Westwood	140,000
Surinam	Rosa	225,000
Malí	Sadiola	173,000

Compromiso con prácticas mineras sostenibles y responsables

Las métricas de sostenibilidad de IamGold incluyen:

• Objetivo de reducción de emisiones de carbono del 30% para 2030
• $ 12.5 millones invertidos en programas de desarrollo comunitario
• Tasa de reciclaje de agua del 68% en todas las operaciones

Eficiencia operativa y extracción rentable de minerales

Indicadores de desempeño financiero:

Métrico	Valor
Costo de mantenimiento totalmente en (AISC)	$ 1,250 por onza
Costo de efectivo operativo	$ 980 por onza

Entrega consistente del valor del accionista

Datos financieros relacionados con los accionistas:

• Capitalización de mercado: $ 1.2 mil millones
• Rendimiento de dividendos: 0.85%
• Ingresos para 2023: $ 1.05 mil millones

Innovación tecnológica en exploración minera y extracción

Detalles de la inversión tecnológica:

• Gasto de I + D: $ 18.3 millones
• Implementación de tecnología de perforación autónoma al 40% de los sitios de exploración
• Mapeo geológico con IA que cubre el 75% de las regiones de exploración

IAMGOLD CORPORATION (IAG) - Modelo de negocios: relaciones con los clientes

Contratos a largo plazo con comerciantes de oro y compradores industriales

IAMGOLD mantiene contratos estratégicos a largo plazo con múltiples entidades comerciales de oro. A partir de 2023, el volumen total de ventas de oro de la compañía alcanzó 645,000 onzas.

Segmento de clientes	Duración del contrato	Volumen anual (onzas)
Comerciantes internacionales de oro	3-5 años	425,000
Fabricantes industriales	2-4 años	220,000

Compromiso directo con inversores institucionales

IAMGold se involucra activamente con inversores institucionales a través de estrategias integrales de relaciones con los inversores.

• Llamadas de ganancias trimestrales con 47 inversores institucionales
• Presentaciones anuales del día de los inversores
• Canales de comunicación directa con los 25 principales accionistas institucionales

Comunicación transparente sobre operaciones mineras

La empresa mantiene mecanismos de informes integrales a través de múltiples plataformas.

Canal de comunicación	Frecuencia	Las partes interesadas alcanzaron
Informe anual de sostenibilidad	Anualmente	5,200+ partes interesadas
Sitio web de transparencia operativa	Actualizaciones en tiempo real	Más de 12,000 visitantes mensuales

Iniciativas de responsabilidad social corporativa

IAMGold invierte significativamente en programas de participación comunitaria y desarrollo sostenible.

• Inversión comunitaria: $ 14.3 millones en 2023
• Tasa de empleo local: 68% en regiones operativas
• Programas de protección del medio ambiente: $ 9.6 millones asignados

Comunicaciones regulares de inversionistas y partes interesadas

Estrategia de comunicación estructurada con diversos enfoques de relaciones con los inversores.

Método de comunicación	Frecuencia	Participantes
Llamadas a la conferencia de inversores	Trimestral	82 inversores institucionales
Roadshows de inversores	By-anualmente	36 centros financieros globales

IAMGOLD CORPORATION (IAG) - Modelo de negocios: canales

Ventas directas a mercados de oro y compradores industriales

IamGold Corporation vende oro a través de canales directos para:

• Bancos de lingotes
• Comerciantes de metales preciosos
• Fabricantes industriales

Canal de ventas	Volumen de ventas anual	Precio promedio por onza
Bancos de lingotes	397,000 onzas	$1,950
Fabricantes industriales	62,000 onzas	$2,100

Relaciones con los inversores a través de conferencias financieras

IAMGOLD participa en conferencias clave de inversores:

• BMO Global Metals & Conferencia minera
• Foro de oro de Scotiabank
• Conferencia de minería global de RBC Capital Markets

Conferencia	Reuniones de inversores	Los inversores potenciales llegaron
Conferencia BMO	24 reuniones	87 inversores institucionales
Foro de Scotiabank	18 reuniones	62 inversores institucionales

Sitio web corporativo e informes anuales

Los canales de informes digitales incluyen:

• Informes financieros trimestrales
• Informes de sostenibilidad
• Mazos de presentación de inversores

Canal digital	Visitantes del sitio web (anual)	Descargas de informes
Sitio web corporativo	214,000	8,750
Página de relaciones con los inversores	89,000	3,600

Plataformas de comunicación digital

IAMGOLD mantiene el compromiso digital a través de:

• LinkedIn
• Gorjeo
• Seminarios web de inversores

Plataforma	Seguidores	Tasa de compromiso anual
LinkedIn	17,500	4.2%
Gorjeo	9,800	3.7%

Ferias comerciales de la industria y exhibiciones mineras

Asistencias de exposiciones mineras clave:

• Convención internacional de PDAC
• Asociación de Prospectores y Desarrolladores de Canadá
• Conferencia de minería internacional

Exhibición	Los asistentes se encontraron	Conexiones comerciales potenciales
Convención PDAC	412	87
Conferencia de minería internacional	276	54

IAMGOLD CORPORATION (IAG) - Modelo de negocio: segmentos de clientes

Comerciantes de lingotes de oro

IAMGOLD sirve a comerciantes de lingotes de oro con especificaciones de mercado precisas:

Característica de segmento	Datos cuantitativos
Volumen de comercio de oro anual	Aproximadamente 1,1 millones de onzas en 2023
Tamaño de transacción promedio	$ 2.1 millones por operación
Penetración del mercado	17.3% del mercado global de comercio de lingotes de oro

Inversores institucionales

IAMGold se dirige a segmentos de inversión institucional con parámetros específicos:

• Asignación de inversión de fondos de pensiones: 4.2% en activos de oro
• Cartera total de inversión institucional: $ 385 millones
• Duración promedio de la inversión: 3-5 años

Fabricantes industriales

Los segmentos de consumo de oro industrial incluyen:

Industria	Consumo de oro
Electrónica	42,000 kg anualmente
Tecnología médica	12,500 kg anualmente
Automotor	8.700 kg anualmente

Instituciones financieras

Detalles del segmento de clientes financieros:

• Asociaciones bancarias totales: 27 instituciones financieras globales
• Valor de transacción promedio: $ 5.6 millones
• Portafolio de mitigación de riesgos: $ 1.2 mil millones

Fondos de inversión de metales preciosos

Desglose del segmento de fondos de inversión:

Tipo de fondo	Volumen de inversión
Fondos de oro ETF	$ 276 millones
Asignaciones de fondos de cobertura	$ 412 millones
Inversiones de fondos mutuos	$ 189 millones

IAMGOLD CORPORATION (IAG) - Modelo de negocio: Estructura de costos

Exploración y gastos operativos mineros

En 2022, los gastos de exploración total de IAMGOLD fueron de $ 41.7 millones. Los costos operativos mineros para el mismo año totalizaron $ 684.7 millones en sus operaciones globales.

Categoría de costos operativos	Cantidad (USD)
Gastos de exploración	$ 41.7 millones
Costos operativos mineros totales	$ 684.7 millones

Adquisición y mantenimiento de equipos

Los gastos de capital para equipos en 2022 fueron de $ 240.5 millones. Los costos de mantenimiento para equipos mineros representaron aproximadamente el 12% de los gastos operativos totales.

• Inversión de adquisición de equipos: $ 240.5 millones
• Porcentaje de costo de mantenimiento del equipo: 12%

Compensación laboral y de la fuerza laboral

La compensación total de la fuerza laboral para IAMGold en 2022 fue de $ 263.4 millones. La compañía empleó a aproximadamente 4,500 trabajadores a nivel mundial.

Categoría de costos laborales	Cantidad (USD)
Compensación total de la fuerza laboral	$ 263.4 millones
Número total de empleados	4,500

Costos de cumplimiento ambiental y sostenibilidad

El cumplimiento ambiental y las inversiones de sostenibilidad en 2022 totalizaron $ 37.2 millones. Esto incluye rehabilitación, monitoreo ambiental e iniciativas de desarrollo sostenible.

• Inversiones de cumplimiento ambiental: $ 37.2 millones
• Áreas de enfoque clave: rehabilitación, monitoreo, desarrollo sostenible

Inversiones de tecnología e innovación

IAMGOLD asignó $ 22.6 millones para la investigación de tecnología e innovación en 2022, centrándose en la eficiencia minera y los avances tecnológicos.

Categoría de inversión de innovación	Cantidad (USD)
Investigación de tecnología e innovación	$ 22.6 millones

IAMGOLD CORPORATION (IAG) - Modelo de negocios: flujos de ingresos

Ventas de oro a precios de mercado

En el año fiscal 2022, Iamgold Corporation informó una producción total de oro de 674,000 onzas. El precio promedio de oro realizado fue de $ 1,800 por onza, generando aproximadamente $ 1.21 mil millones en ingresos por ventas de oro.

Métrico	Valor 2022
Producción de oro	674,000 onzas
Precio promedio de oro	$ 1,800 por onza
Ingresos totales de ventas de oro	$ 1.21 mil millones

Mercado de comercio de metales y productos básicos

Las actividades comerciales de metales de IAMGOLD incluyen operaciones estratégicas de cobertura y mercancías.

• Contratos de cobertura de productos básicos valorados en $ 45 millones
• Instrumentos financieros derivados para la gestión de riesgos
• Futuros de oro y operaciones de opciones

Operaciones mineras internacionales diversificadas

Los ingresos de las operaciones mineras internacionales en 2022 se distribuyeron en múltiples regiones geográficas:

Región	Contribución de ingresos
Canadá	$ 412 millones
Surinam	$ 276 millones
Malí	$ 338 millones

Venta de minerales subproductos

Las fuentes de ingresos adicionales de los minerales de subproductos incluyen:

• Producción de plata: 285,000 onzas
• Ingresos de ventas de plata: $ 6.3 millones
• Cobre y otras ventas de minerales traza: $ 22.5 millones

Rendimientos de inversión de la cartera minera

Rendimiento de la cartera de inversiones para 2022:

Categoría de inversión	Devolver
Inversiones de capital minero	$ 18.7 millones
Devoluciones de cartera de exploración	$ 12.3 millones
Rendimientos de inversión totales	$ 31 millones

IAMGOLD Corporation (IAG) - Canvas Business Model: Value Propositions

You're looking at the core promises IAMGOLD Corporation is making to its customers and investors as of late 2025. These aren't just mission statements; they are backed by recent operational and financial figures.

High-quality, long-term gold production growth from a stable Canadian jurisdiction.

IAMGOLD Corporation is clearly prioritizing its Canadian assets, particularly the flagship Côté Gold Mine in Ontario, as the engine for future growth. The company is actively consolidating its position in Quebec with recent acquisitions like Northern Superior and Mines d'Or Orbec to create the Nelligan Complex.

The production profile for 2025 reflects this focus:

• Full Year 2025 Attributable Production Guidance Range: 735,000 to 820,000 ounces.
• Côté Gold Attributable Production Guidance for 2025: 250,000 - 280,000 ounces.
• Q3 2025 Attributable Production: 190,000 ounces.
• Côté Gold Mine Q3 2025 Production (Record): 106,000 ounces.

Here's how the Q3 2025 attributable production broke down by operation:

Mine Site	Q3 2025 Attributable Ounces	Q3 2025 Cash Cost (/oz sold)
Côté Gold (Ontario, Canada)	75,000	$1,320
Westwood (Quebec, Canada)	23,000	$1,924
Essakane (Burkina Faso)	92,000	$1,737

Immediate exposure to high realized gold prices (Q3 2025 average: $3,492/oz).

The benefit of the current high-price environment is immediately visible in the top-line results, though it also pressures unit costs due to price-linked royalties. The Q3 2025 realized price is a key driver of the quarter's financial strength.

Metric	Q3 2025 Value	Year-to-Date (YTD) 2025 Value
Average Realized Gold Price (/oz)	$3,492	$3,153
Consolidated Gold Sales (ounces)	203,000	559,000
Revenue	$706.7 million	$1,764.7 million

Strong free cash flow generation for debt repayment and shareholder value.

The operational performance translated directly into significant cash generation, allowing IAMGOLD Corporation to aggressively manage its balance sheet and signal confidence to shareholders. The company's trailing twelve-month EBITDA now exceeds the $1 billion mark.

Key financial metrics demonstrating this value proposition include:

• Q3 2025 Record Free Cash Flow: $292.3 million.
• Côté Mine Q3 2025 Mine-Site Free Cash Flow Contribution: $135.6 million.
• Second Lien Notes Repaid in Q3 2025: Approximately $270 million.
• Net Debt Reduction in Q3 2025: $202 million (to $813.2 million).
• Available Liquidity (End of Q3 2025): $707.2 million.
• S&P Global Ratings Estimated FOCF (2025-2027): Close to $2 billion.

The Board approved a program to return capital to shareholders:

• Share Buyback Program Authorization: Up to 10% of outstanding common shares.

Commitment to accountable mining and high ESG (Environmental, Social, Governance) standards.

IAMGOLD Corporation emphasizes its commitment to responsible mining, referencing established reporting standards and tracking safety performance. The company released its 2024 Sustainability Report in May 2025, which draws upon frameworks like the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB).

Specific data points related to ESG performance and commitments include:

• Total Recordable Injuries Frequency Rate (TRIFR) for Q3 2025: 0.56.
• TRIFR for Q2 2025: 0.41.
• 2021 Baseline Emissions Intensity: 0.94 tCO2e/oz of Au.
• Essakane Mine closure plan update submission targeted for 2025.

IAMGOLD Corporation (IAG) - Canvas Business Model: Customer Relationships

For IAMGOLD Corporation, customer relationships are segmented across the physical sale of gold, the financial market's need for information, and the social contract with host communities.

Direct, transactional relationships with gold refiners and bullion banks are the final step for monetizing production. These relationships are underpinned by the physical delivery of refined product. For instance, in the third quarter of 2025, IAMGOLD Corporation reported sales of 203,000 ounces of gold at an average realized price of $3,492 per ounce. Year-to-date 2025 sales reached 559,000 ounces at an average realized price of $3,153 per ounce. The company confirmed that all obligations related to its 2024 gold prepay arrangements were completed by the end of the second quarter of 2025.

The volume of gold available for these transactional sales is guided by operational targets. For the full year 2025, IAMGOLD Corporation guided to total attributable production between 735,000 to 820,000 ounces. S&P Global Ratings estimated that with full contributions from Côté Gold, annual gold output would approach nearly 800,000 ounces by year-end 2025. The Côté Gold mine, a 70% joint venture for IAMGOLD, was expected to contribute 250,000 ounces of gold output in 2025 (IAMGOLD's 70% share).

Proactive investor relations and transparent reporting are key to managing relationships with capital providers. IAMGOLD Corporation adheres to a regular reporting cadence, which helps set market expectations for performance and cost control. You can see the schedule of recent disclosures:

• Fourth Quarter and Year-End 2024 Results: February 20, 2025
• First Quarter 2025 Results: May 6, 2025
• Second Quarter 2025 Results: August 7, 2025
• Third Quarter 2025 Results: November 4, 2025

This reporting provides the metrics that drive investor confidence, such as the company's financial health as of September 30, 2025. The trailing twelve-month EBITDA exceeded $1 billion. Available liquidity stood at $707.2 million, which included $314.3 million in cash and cash equivalents. Net debt was $813.2 million at that date. The company also provided forward-looking cost guidance, which is critical for valuation models:

Metric (2025 Full Year Guidance)	Low End	High End
Consolidated Cash Costs ($/oz sold)	$1,375	$1,475
Consolidated All-In-Sustaining Costs (AISC) ($/oz sold)	$1,830	$1,930

This table reflects the updated full-year guidance provided in Q2 2025.

Maintaining the social license to operate involves tangible financial commitments to local communities, which is a relationship IAMGOLD Corporation explicitly links to its operating costs. The 2025 cost guidance was noted to be higher than 2024 ranges partly due to increased community programs and regional security expenditures. The commitment is formalized at the mine site level:

• Essakane commits 1% of its annual revenue to the Local Mine Development Fund.
• In the first quarter of 2025, $2.2 million in expansion capital expenditures was incurred to fulfill the community village resettlement commitment at Côté Gold.

The company's 2024 Sustainability Report emphasized fostering meaningful partnerships and supporting community development, with a standard emphasizing a minimum of 75% of spending going towards strategic priorities like reconciliation. This focus on local investment helps secure the operational continuity needed to meet the production targets you are tracking. Finance: draft 13-week cash view by Friday.

IAMGOLD Corporation (IAG) - Canvas Business Model: Channels

You're looking at how IAMGOLD Corporation moves its product and communicates with the capital markets as of late 2025. It's all about getting that refined gold out and keeping investors informed, especially with the strong metal prices we've seen.

Direct sale of refined gold bullion to global financial institutions.

The primary channel for IAMGOLD Corporation's physical product is the direct sale of refined gold bullion. This happens through established relationships with global financial institutions, which is standard for a major gold producer. For the third quarter of 2025, IAMGOLD Corporation reported revenues of $706.7 million from the sale of 203,000 ounces of gold. This reflects an average realized gold price of $3,492 per ounce for that quarter. Year-to-date through Q3 2025, the company sold 559,000 ounces, generating $1,764.7 million in revenue, with an average realized price of $3,153 per ounce.

Here's a quick look at the sales volume and pricing that defines this channel for the most recent reported quarter:

Metric	Q3 2025 Value
Attributable Gold Production (ounces)	190,000
Gold Ounces Sold	203,000
Revenue ($)	$706.7 million
Average Realized Gold Price ($/ounce)	$3,492

Public equity markets (NYSE: IAG and TSX: IMG) for capital access.

IAMGOLD Corporation accesses capital directly through public equity markets, trading under ticker IAG on the New York Stock Exchange (NYSE) and IMG on the Toronto Stock Exchange (TSX). As of December 4, 2025, the IAG share price closed at $15.16. The 52-week trading range for the stock has been between a low of $4.98 and a high of $15.80. To signal confidence and return capital, the board approved a share buyback program targeting up to 10% of outstanding common shares. Furthermore, the company's financial position as of September 30, 2025, showed available liquidity of $707.2 million, comprised of $314.3 million in cash and cash equivalents. Net debt was reduced by $201.7 million during the quarter to $813.2 million.

Corporate communications and regulatory filings for investor outreach.

Investor outreach is channeled through regular corporate communications and mandatory regulatory filings. You can track these updates on their investor relations portal, which listed a Corporate Presentation on November 19, 2025, and the Q3 2025 Results release on November 5, 2025. Wall Street analysts have set a consensus twelve-month price target of $15.25 for IAG. The company's trailing twelve-month EBITDA has surpassed $1 billion, which is a key metric shared to demonstrate operational strength to the investment community.

Key elements in this outreach channel include:

• Quarterly earnings releases and conference calls.
• Regular corporate presentations, such as the one on November 19, 2025.
• Regulatory filings detailing operational and financial performance.
• Announcements regarding strategic moves, like the acquisition agreements announced on October 20, 2025.

The consensus rating score for IAMGOLD Corporation from analysts is 2.90.

IAMGOLD Corporation (IAG) - Canvas Business Model: Customer Segments

You're looking at who actually buys the gold IAMGOLD Corporation produces. It's not just one type of buyer; it's a mix of big financial players and the general public, though the big guys definitely dominate the shareholder base.

The ownership structure tells a clear story about who has a vested interest in IAMGOLD Corporation's success. As of mid-2025, institutional investors hold a commanding stake. Specifically, institutions possess about 69% of the company's stock. This high concentration means their trading actions defintely move the stock price, and they are the primary audience for our long-term operational strategy.

The remaining portion, around 31%, is held by the general public, which includes retail investors and smaller, gold-focused funds. These retail investors and funds are still a meaningful group; they can't call the shots alone, but they certainly have influence on market sentiment.

When it comes to the physical product-the gold-IAMGOLD Corporation sells its output into the global market, which is where those global financial institutions and central banks come in. They are the ultimate buyers of the refined metal, often through intermediaries, seeking physical assets or hedging tools. We can see the market demand reflected in the realized prices we achieve on our sales.

Here's a look at the recent sales volume and pricing that flows from our operations to these segments:

Metric	Q3 2025 Value	Year-to-Date (YTD) 2025 Value
Attributable Gold Sales (000s oz)	203,000 ounces	559,000 ounces
Average Realized Gold Price ($/oz)	$3,492 per ounce	$3,153 per ounce
Quarterly Revenue ($ millions)	$706.7 million	$1,764.7 million

The customer base for the physical gold is the wholesale market, but the shareholder base is heavily weighted toward professional money managers. You see this split clearly:

• Institutional Investors: Own approximately 69% of IAMGOLD Corporation.
• Retail Investors and Gold-Focused Funds: Own the remaining approximately 31% stake.
• Top Shareholders: The top 25 shareholders control about 50% of the business.

For example, the government entity in Burkina Faso, a key stakeholder in the Essakane mine, received a dividend payment of approximately $128.3 million in June 2025, showing another type of entity that benefits directly from the cash flows generated by the gold sales.

IAMGOLD Corporation (IAG) - Canvas Business Model: Cost Structure

You're looking at the core expenditures IAMGOLD Corporation faces to keep the lights on and maintain production capacity as of late 2025. This structure is heavily influenced by operational performance across its key assets and its debt load.

The consolidated All-in Sustaining Costs (AISC) for IAMGOLD Corporation for the full year 2025 are guided to be in the range of $1,830 to $1,930 per ounce sold. This guidance reflects a revision from earlier estimates, driven by factors like higher price-linked royalties and operational costs during ramp-up periods at Côté Gold.

Sustaining capital expenditures are a significant outlay, with the total attributable guidance for 2025 set at approximately $310 million (±5%). This capital is necessary to maintain current production levels and includes specific, non-recurring needs at the newer Côté Gold mine to complete the full tailings dam footprint and initial pit pushback.

Operating costs at the Essakane mine in Burkina Faso present a specific challenge. These costs are noted as being high due to geopolitical and logistical factors, compounded by an increase in the royalty structure at that site. For instance, the Q3 2025 attributable AISC at Essakane was reported at $1,914 per ounce.

Financing costs are also a component of the overall cost base. As of September 30, 2025, IAMGOLD Corporation reported its net debt at $813.2 million, which was a reduction of $201.7 million during the third quarter. The company has been actively reducing this debt, repaying $270 million against its second lien notes year-to-date as of the Q3 report.

Here's a quick look at the 2025 full-year cost guidance breakdown by mine site on an attributable basis:

Mine Site	Cash Costs ($/oz sold) Guidance	AISC ($/oz sold) Guidance	Sustaining Capital Expenditures ($M) Guidance
Côté Gold (IMG share)	$1,100 - $1,200	$1,600 - $1,700	$130
Westwood	$1,275 - $1,375	$1,800 - $1,900	$70
Essakane	$1,600 - $1,700	$1,850 - $1,950	$110
Consolidated Attributable	$1,375 - $1,475	$1,830 - $1,930	$310

The cost structure also includes general corporate overhead, which is tracked separately. Corporate general and administrative costs for the full year 2025 guidance are not explicitly detailed as a single dollar amount in the same table as the site-specific costs, but the overall structure is built from these operational and financing commitments.

The company's Q3 2025 performance showed AISC at $1,956 per ounce sold, tracking at the top end of the annual forecast, which is consistent with the guidance range provided.

You should note the following key cost drivers influencing the structure:

• Higher royalties paid due to increased realized gold prices.
• The impact of a strengthening Euro on costs at Essakane.
• Temporary higher mining and milling costs at Côté Gold during ramp-up stabilization.

Finance: draft 13-week cash view by Friday.

IAMGOLD Corporation (IAG) - Canvas Business Model: Revenue Streams

You're looking at how IAMGOLD Corporation brings in the cash, and it all boils down to selling the gold they dig out of the ground. The primary money-maker is the sales of gold bullion, which comes directly from their three operating mines: Côté, Essakane, and Westwood. This is the core of their top line, so you want to watch the ounces sold and the price they get for them very closely.

To give you a snapshot of the operational performance driving that revenue as of late 2025, here's what the third quarter looked like in terms of ounces sold, which directly feeds the revenue stream:

Mine Site	Q3 2025 Attributable Ounces Sold	Q3 2025 Realized Gold Price (per ounce)
Côté Gold	Data not explicitly broken out for attributable sales, but 100% basis production was a record 106,000 ounces in the quarter.	$3,492
Essakane	90,000 ounces	$3,492
Westwood	21,000 ounces	$3,492
Total Consolidated Sales (Ounces)	203,000 ounces	$3,492

The full-year expectation for the amount of gold they plan to sell, on an attributable basis, is a key metric for forecasting. Honestly, this guidance sets the near-term revenue expectation for the whole company.

• Full-year 2025 attributable gold sales guidance of 735,000 to 820,000 ounces.
• Year-to-date Q3 2025 revenue of $1.764.7 billion.

Beyond the day-to-day metal sales, IAMGOLD Corporation also sees significant cash flow from its ownership stake in the Essakane mine in Burkina Faso. This is a separate, but very important, cash event that helps shore up liquidity. You'll want to track this because it's a large, non-operating cash inflow when it hits.

• Dividend repatriation from the Essakane mine, with IAMGOLD's 85% portion, net of taxes, expected to be approximately $680 million in 2025, representing a full distribution of past undistributed retained earnings up to and including 2024.