IAMGOLD CORP
For the period ended Dec 31, 2025. Filed Feb 18, 2026.
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The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.
FY2025 · Filed Feb 18, 2026
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Contents
EX-99.2 · Outlook
Cost of sales, including depreciation, cash costs and AISC are expressed on an attributable ounce sold basis (excluding the non-controlling interests at Essakane). See "Operations - Essakane, Burkina Faso".
This is a non-GAAP financial measure. See "Non-GAAP Financial Measures".
Côté capital expenditures reflect the proportionate interest in Côté Gold UJV on an incurred basis.
OUTLOOK
Production (000 oz)
| Actual 2025 | Full Year Guidance 2026 | |
|---|---|---|
| Côté Gold - (70%) | 279.9 | 270 - 310 |
| Westwood - (100%) | 113.9 | 110 - 130 |
| Essakane - (90% H1 2025 | 85% - H2 2025 and thereafter) | 372.1 | 340 - 380 |
| Total attributable production (000s oz) | 765.9 | 720 - 820 |
Total attributable production for IAMGOLD in 2026 is expected to be in the range of 720,000 to 820,000 ounces, as operations at Côté Gold focus on sustainable operations at nameplate operating rates ahead of the technical report outlining the expansion plans which is expected to be announced in the fourth quarter 2026. For further details, refer to the "Operations" section of each mine below.
The attributable guidance for Essakane is estimated according to IAMGOLD's 85% ownership interest. See "Operations - Essakane, Burkina Faso" for more details.
Costs
| Actual 2025 | Full Year Guidance 2026 | |
|---|---|---|
| Côté Gold | ||
| Cash costs - excluding royalties ($/oz sold) | $1,020 | $900 - $1,050 |
| Cash costs - including royalties ($/oz sold) | $1,268 | $1,200 - $1,350 |
| AISC ($/oz sold) | $1,636 | $1,775 - $1,925 |
| Westwood | ||
| Cash costs ($/oz sold) | $1,530 | $1,500 - $1,650 |
| AISC ($/oz sold) | $2,117 | $1,950 - $2,100 |
| Essakane | ||
| Cash costs - excluding royalties ($/oz sold) | $1,300 | $1,150 - $1,300 |
| Cash costs - including royalties ($/oz sold) | $1,636 | $1,600 - $1,750 |
| AISC ($/oz sold) | $1,888 | $2,000 - $2,150 |
| Consolidated | ||
| Cost of sales1 ($/oz sold) | $1,489 | $1,425 - $1,575 |
| Cash costs1,2 - excluding royalties ($/oz sold) | $1,230 | $1,100 - $1,250 |
| Cash costs1,2 - including royalties ($/oz sold) | $1,484 | $1,425 - $1,575 |
| AISC1,2 ($/oz sold) | $1,900 | $2,000 - $2,150 |
Consists of Côté Gold and Westwood on an attributable basis of 70% and 100%, respectively, and an attributable basis of 90% at Essakane for the first half of 2025 and 85% thereafter.
This is a non-GAAP financial measure. See"Non-GAAP Financial Measures".
Cash costs on a consolidated basis, excluding royalties, are expected to be in the range of $1,100 to $1,250 per ounce sold. With the current strong gold price environment, royalties account for an average of approximately $325 per ounce sold - based on a gold price assumption for 2026 of $4,000 per ounce. Cash costs, including royalties, are expected to average $1,425 to $1,575 per ounce sold. AISC for IAMGOLD are expected to be in the range of $2,000 and $2,150 per ounce sold.
The full year guidance for 2026 is based on the following assumptions (before the impact of hedging): an average realized gold price of $4,000 per ounce, USD/CAD exchange rate of 1.35, EUR/USD exchange rate of 1.18, average Brent oil price of $65 per barrel and West Texas Intermediate (WTI) price of $65 per barrel. For expected impacts from fluctuation in these assumptions, refer to the Sensitivity Impact table included in the "Financial Condition" section.
Royalty Sensitivities
| IAMGOLD CORPORATION | 7 |
|---|---|
| Annual Management's Discussion and Analysis - December 31, 2025 | |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.