IAMGOLD (NYSE:IAG) reported robust preliminary 2025 results on Monday, as the Canadian miner capitalized on all-time high bullion prices and record production at its flagship Côté Gold operation to strengthen its balance sheet.
The Toronto-based company delivered attributable gold production of 765,900 ounces for the full year, landing precisely at the midpoint of its revised guidance.
The performance was bolstered by a standout fourth quarter, where the Côté Gold mine in Ontario achieved record attributable production of 87,200 ounces.
Gold sales for the year reached 817,800 ounces at an average realized price of $3,480 per ounce—a figure that surged to approximately $4,190 per ounce during the final three months of the year.
While revenue benefited from the price environment, the company noted that 2025 cash costs are expected at the upper end of its $1,375–$1,475 per ounce range.
However, all-in sustaining costs (AISC) are projected to land near the midpoint of $1,830–$1,930 per ounce, reflecting disciplined capital management during the critical Côté ramp-up phase.
For the year ahead, IAMGOLD issued a production guidance of 720,000 to 820,000 attributable ounces.
The 2026 outlook highlights a significant expected drop in cash costs—forecasted between $1,100 and $1,250 per ounce (excluding royalties)—as the high-margin Côté mine reaches steady-state production.
The company has earmarked $500 million in total capital expenditures for 2026, with a focus on optimizing Côté’s throughput and advancing expansion planning for the Gosselin zone.