IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) (“IAMGOLD” or the “Company”) today reported its financial and operating results for the first quarter ended March 31, 2022, the appointment of current Chair of the Board, Maryse Bélanger, as Interim President and CEO and an update to the Côté Gold Project.
Maryse Belanger, Chair of the Board and incoming Interim President and CEO, said: “The Company delivered good results in the first quarter of 2022, resulting primarily from solid operating performance at Essakane. However, preliminary cost estimates from the ongoing risk analysis at our Côté development project, coupled with the need for additional liquidity represent significant near- and mid-term challenges.
“Given the complexity of the business from both an operational and project development standpoint, in addition to the need to actively investigate financing measures, further management capacity is needed to bridge the gap until a search for a permanent CEO is concluded. As a result, I have agreed to step in as Interim President and CEO. On behalf of the entire Board, I thank Daniella for effectively leading the Company through a difficult period. I am looking forward to working closely with Daniella and the rest of the management team to complete the Côté risk analysis and advance project development, to continue operational and efficiency improvements at our mines, and to address the Company’s liquidity. I am confident we will address these near-term challenges and we remain fully focused on our goal of becoming a leading high-margin gold producer.”
Daniella Dimitrov, Chief Financial Officer and Executive Vice President, Strategy and Corporate Development, said: “I am delighted to welcome Maryse as Interim President and CEO. She has been actively engaged in the business since being appointed Chair and I look forward to working more closely with her under her leadership as Interim President and CEO. Her proven strengths and experience in operational and efficiency improvements and in project development bring important capacity and capability to the management team as we actively address the challenges before us.”
The following table summarizes certain financial results for the three months ended March 31, 2022 (Q1 2022), December 31, 2021 (Q4 2021) and March 31, 2021 (Q1 2021):
