IAMGOLD REPORTS SECOND QUARTER 2026 RESULTS All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.
IAMGOLD REPORTS SECOND QUARTER 2026 RESULTS
All monetary amounts are expressed in U.S. dollars, unless otherwise indicated.
Toronto, Ontario, August 6, 2026 – IAMGOLD Corporation (NYSE:IAG, TSX:IMG) (“IAMGOLD” or the “Company”)
today reported its financial and operating results for the second quarter ended June 30, 2026.
"IAMGOLD delivered another strong and safe quarter, producing 188,100 ounces of gold and generating $507.3
million of adjusted EBITDA, keeping us firmly on track to achieve our full -year guidance of 720,000 to 820,000
ounces," said Renaud Adams, President and CEO. "At Côté Gold, the replacement of the conveyor belt in May and
the commissioning of our second cone crusher allowed the plant to operate at near full capacity in June, and with
contracted crushing now behind us, we expect production to increase and unit costs to decline through the second
half of the year. Westwood and Essakane again delivered solid results . Our balance sheet has never been stronger,
with a net cash position and $1.3 billion in liquidity, while returning nearly $150 million to shareholders in the quarter
through our buyback program."
"Beyond this near -term progress, the scale of Côté's long -term potential continues to grow. As we advanced our
technical work this year, the consolidation of the Côté and Gosselin Mineral Resources, now exceeding 20 million
ounces of Measured and Indicated, materially expanded the opportunity set in front of us – and we have chosen to
take the time to thoroughly evaluate rather than constrain it to a single scenario. As a result, the details of the updated
technical report which are expected in the fourth quarter will outline a clear, near -term path to increase processing
rates toward 40,000 tonnes per day through targeted debottlenecking, supported by a significantly larger reserve
base, extended mine life and further cost optimization. Concurrently, we will continue to advance trade-off studies on a
further expansion of the project, reflecting our growing conviction in the size and quality of this world -class asset and
its ability to support a larger operation over the long term. With a strengthened balance sheet and a compelling
pipeline of growth across Côté, Essakane, Westwood and Nelligan, IAMGOLD is exceptionally well positioned to
create lasting value for our shareholders."
HIGHLIGHTS:
Operating and Financial
• Attributable gold production was 188,100 ounces in the second quarter and 371,700 ounces year -to-date
(“YTD”), with the Company on track to achieve its 2026 production guidance of 720,000 to 820,000 ounces.
• Côté produced 67,300 attributable ounces (96,200 ounces | 100%) in the second quarter and 119,600
attributable ounces YTD (170,900 ounces | 100%). Production at Côté is expected to be higher in the second
half of the year driven by increased processing rates as the impact from recent operational improvements
continue to be realized;
• Westwood produced 32,400 ounces in the second quarter and 68,600 ounces YTD; and
• Essakane produced 88,400 attributable ounces (104,000 ounces | 100%) in the second quarter and 183,500
attributable ounces (215,900 ounces | 100%) YTD.
• Revenues in the second quarter totaled $856.9 million from sales of 195,100 ounces at an average realized gold
price1 of $4,384 per ounce and $1,887.0 million YTD from sales of 406,600 ounces at an average realized gold
price of $4,631 per ounce.
• Cost of sales per ounce sold was $1,651 ($1,635 YTD), cash cost 1 per ounce sold, excluding royalties was
$1,289 ($1,244 YTD), cash cost 1 per ounce sold, including royalties was $1,642 ($1,624 YTD), and all -in
sustaining cost1 (“AISC”)1 per ounce sold was $2,271 ($2,195 YTD).
• Net earnings and adjusted net earnings attributable to equity holders 1 for the second quarter was $230.5
million ($610.2 million YTD) and $241.6 million ($632.7 million YTD), respectively.
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• Net earnings and adjusted net earnings per share attributable to equity holders 1 for the second quarter of
$0.40 ($1.05 YTD) and $0.42 ($1.09 YTD), respectively.
• Net cash from operating activities was $445.1 million for the second quarter ($1,015.0 million YTD). Net cash
from operating activities, before movements in working capital and non -current ore stockpiles1, was $442.9 million
for the second quarter ($1,072.4 million YTD).
• Earnings before interest, income taxes, depreciation and amortization (“EBITDA”)1 was $495.3 million for the
second quarter ($1,152.3 million YTD), and adjusted EBITDA1 was $507.3 million ($1,173.6 million YTD).
• Mine-site free cash flow1 was $368.9 million during the second quarter ($893.5 million YTD).
• The Company has available liquidity1 of $1,348.1 million as at June 30, 2026. Cash and cash equivalents was
$501.4 million and the available balance of the revolving credit facility (“Credit Facility”) was $845.7 million. Net
cash, excluding leases and letters of credit1, was $52.2 million.
• In health and safety , for the quarter ended June 30, 2026, the Company reported a total recordable injuries
frequency rate (“TRIFR”) of 0.70 and is tracking at 0.56 for the year. IAMGOLD is continuing to advance its critical
risk management program and visible leadership to improve safety and reduce high-potential incidents.
Corporate
• Continued cash flow generation in the second quarter allowed the Company to: purchase $147.9 million
IAMGOLD shares (8.6 million shares) as part of the share buyback program and repay the remaining $100
million balance of its Credit Facility . Subsequent to quarter end and up to August 5, 2026, the Company has
purchased an additional 3.5 million shares for $52.5 million and has purchased 27.9 million shares for
$510.4 million since the inception of the program in December 2025 . The Company intends to continue to
use cash flow from Essakane to repurchase shares under its share buyback program as the cash is generated
and repatriated from Essakane over the course of 2026.
• In June 2026, the Company completed the repatriation of $680.7 million from Essakane that represented its
portion, net of withholding taxes, of the record $855 million dividend declared in 2025 payable to the Government
of Burkina Faso and IAMGOLD. Total cash repatriated in the second quarter was $197.1 million, and $409.8
million year-to-date.
• In June 2026, Essakane declared its 2026 dividend of approximately $500 million from its 2025 profits. The
Company’s portion, net of the Government of Burkina Faso portion and withholding taxes, is approximately $400
million. The Company received $44 million subsequent to quarter end as a first dividend installment and expects
to receive a further $45 million in August. The remaining balance is expected to be distributed at regular intervals
based on the cash generated in excess of working capital requirements by Essakane.
• On June 17, 2026, the Company announced the strengthening of its financial position and flexibility by amending
its revolving Credit Facility, increasing total capacity from $650 million to $850 million , extending maturity to
June 2030, decreasing costs and improv ed covenants. The facility also includes an additional $250 million
accordion feature, offering further liquidity potential. The Credit Facility remains undrawn.
• On June 1, 2026, the Company announced an updated Mineral Resource estimate for the Côté Gold Mine,
reflecting the integration of the Côté and Gosselin zones in a consolidated block model. Measured and Indicated
Mineral Resources for Côté Gold on a consolidated basis increased to 20.3 million ounces, with an additional 3.5
million ounces of Inferred Mineral Resources. The updated Mineral Resource estimate will inform the upcoming
Côté Gold Technical Report and mine plan, with the results to be announced in the fourth quarter 2026.
• On August 6, 2026, the Company announced that Ms. Catherine McLeod -Seltzer has been appointed to the
Company’s Board of Directors effective September 1, 2026. Ms. McLeod -Seltzer, who was inducted into the
Canadian Mining Hall of Fame in 2026, brings more than four decades of mining industry experience as both a
senior executive and public-company director.
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QUARTERLY REVIEW
For more details and the Company's overall outlook for 2026, see “Outlook”, and for individual mines performance,
see “Operations”. The following table summarizes certain operating and financial results for the three months ended
June 30, 2026 (Q2 2026), June 30, 2025 (Q2 2025) and the six months ended June 30 (H1 or YTD) 2026 and 2025,
and certain measures of the Company's financial position as at December 31, 2025.
Q2 2026 Q2 2025 YTD 2026 YTD 2025
Key Operating Statistics
($ millions)
Gold production – attributable (000s oz) 188.1 173.0 371.7 334.0
- Côté Gold1 67.3 67.0 119.6 118.1
- Westwood 32.4 29.4 68.6 53.3
- Essakane2 88.4 76.6 183.5 162.6
Gold sales – attributable (000s oz) 180.2 173.4 373.9 338.1
- Côté Gold1 66.9 68.4 122.0 120.0
- Westwood 29.2 28.6 66.7 55.8
- Essakane2 84.1 76.4 185.2 162.3
Cost of sales3 ($/oz sold) $ 1,651 $ 1,561 $ 1,635 $ 1,514
- Côté Gold1 $ 1,562 $ 1,222 $ 1,630 $ 1,240
- Westwood $ 1,624 $ 1,577 $ 1,440 $ 1,562
- Essakane2 $ 1,730 $ 1,858 $ 1,707 $ 1,700
Cash costs4 – excluding royalties ($/oz sold) $ 1,289 $ 1,340 $ 1,244 $ 1,311
- Côté Gold1 $ 1,245 $ 997 $ 1,301 $ 1,030
- Westwood $ 1,606 $ 1,562 $ 1,417 $ 1,545
- Essakane2 $ 1,214 $ 1,565 $ 1,143 $ 1,437
Cash costs4 ($/oz sold) $ 1,642 $ 1,556 $ 1,624 $ 1,509
- Côté Gold1 $ 1,554 $ 1,219 $ 1,622 $ 1,237
- Westwood $ 1,606 $ 1,562 $ 1,417 $ 1,545
- Essakane2 $ 1,724 $ 1,855 $ 1,700 $ 1,697
AISC4 – excluding royalties ($/oz sold) $ 1,918 $ 1,825 $ 1,815 $ 1,778
- Côté Gold1 $ 1,773 $ 1,389 $ 1,773 $ 1,418
- Westwood $ 2,163 $ 2,140 $ 1,921 $ 2,132
- Essakane2 $ 1,691 $ 1,934 $ 1,602 $ 1,764
AISC4 ($/oz sold) $ 2,271 $ 2,041 $ 2,195 $ 1,976
- Côté Gold1 $ 2,082 $ 1,611 $ 2,094 $ 1,625
- Westwood $ 2,163 $ 2,140 $ 1,921 $ 2,132
- Essakane2 $ 2,201 $ 2,224 $ 2,159 $ 2,024
Average realized gold price ($/oz) $ 4,384 $ 3,182 $ 4,631 $ 2,961
1. Attributable portion for Côté Gold is based on IAMGOLD’s ownership of 70%. See “Operations – Côté Gold, Canada” for more details.
2. IAMGOLD’s Essakane ownership interest decreased from 90% to 85% effective June 20, 2025. See “Operations – Essakane, Burkina Faso” for more details.
The attributable portion for Essakane is presented as 90% for the first half of 2025 and 85% for the second half of 2025 thro ughout this news release.
3. Excludes depreciation – as disclosed in the segment note in the consolidated interim financial statements.
4. Refer to the “Non-GAAP Financial Measures” disclosure at the end of this news release for a description and calculation of these measures.
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Q2 2026 Q2 2025 YTD 2026 YTD 2025
Financial Results ($ millions)
Revenues $ 856.9 $ 580.9 $ 1,887.0 $ 1,058.0
Gross profit $ 415.1 $ 198.8 $ 985.8 $ 340.0
EBITDA1 $ 495.3 $ 283.8 $ 1,152.3 $ 479.0
Adjusted EBITDA1 $ 507.3 $ 276.4 $ 1,173.6 $ 480.9
Net earnings attributable to equity holders $ 230.5 $ 78.7 $ 610.2 $ 118.4
Adjusted net earnings attributable to equity
holders1 $ 241.6 $ 77.3 $ 632.7 $ 132.5
Net earnings per share attributable to equity
holders $ 0.40 $ 0.14 $ 1.05 $ 0.21
Adjusted net earnings per share attributable to
equity holders1 $ 0.42 $ 0.13 $ 1.09 $ 0.23
Net cash from operating activities before
changes in working capital1 $ 442.9 $ 127.3 $ 1,072.4 $ 232.2
Basic weighted average number of common
shares outstanding (in millions) 578.0 575.1 582.7 573.8
Net cash from operating activities $ 445.1 $ 85.8 $ 1,015.0 $ 160.1
Mine-site free cash flow1 $ 368.9 $ 140.5 $ 893.5 $ 280.1
Capital expenditures1 – sustaining $ 96.3 $ 78.4 $ 184.9 $ 140.1
Capital expenditures1 – expansion $ 22.0 $ 8.9 $ 34.8 $ 14.2
June 30 December 31
2026 2025
Financial Position ($ millions)
Cash and cash equivalents $ 501.4 $ 421.9
Long-term debt $ 449.3 $ 649.8
Net cash (debt) excluding lease liabilities and letters of credit $ 52.2 $ (228.1)
Net cash (debt)1 $ (42.6) $ (344.4)
Available Credit Facility $ 845.7 $ 445.7
1. Refer to the “Non-GAAP Financial Measures” disclosure at the end of this news release for a description and calculation of these measures.
OUTLOOK
Production (000 oz)
YTD 2026
Full Year
Guidance 2026
Côté Gold – (70%) 119.6 270 – 310
Westwood – (100%) 68.6 110 – 130
Essakane – (85%) 183.5 340 – 380
Total attributable production (000s oz) 371.7 720 – 820
Total attributable production for IAMGOLD in 2026 is expected to be in the range of 720,000 to 820,000 ounces.
Production at Côté is expected to be higher in the second half of the year, driven by increased processing rates as
recent operational improvements continue to be realized. For further details, refer to the “Operations” section of each
mine below.
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Costs
YTD 2026
Full Year
Guidance3 2026
Côté Gold
Cash costs – excluding royalties ($/oz sold) $1,301 $900 – $1,050
Cash costs – including royalties3 ($/oz sold) $1,622 $1,200 – $1,350
AISC – excluding royalties3 ($/oz sold) $1,773 $1,475 – $1,625
AISC – including royalties3 ($/oz sold) $2,094 $1,775 – $1,925
Westwood
Cash costs ($/oz sold) $1,417 $1,500 – $1,650
AISC ($/oz sold) $1,921 $1,950 – $2,100
Essakane
Cash costs – excluding royalties ($/oz sold) $1,143 $1,150 – $1,300
Cash costs – including royalties3 ($/oz sold) $1,700 $1,600 – $1,750
AISC – excluding royalties3 ($/oz sold) $1,602 $1,550 – $1,700
AISC – including royalties3 ($/oz sold) $2,159 $2,000 – $2,150
Consolidated
Cost of sales1 ($/oz sold) $1,635 $1,425 – $1,575
Cash costs1,2 – excluding royalties ($/oz sold) $1,244 $1,100 – $1,250
Cash costs1,2 – including royalties3 ($/oz sold) $1,624 $1,425 – $1,575
AISC1,2 – excluding royalties3 ($/oz sold) $1,815 $1,675 – $1,825
AISC1,2 – including royalties3 ($/oz sold) $2,195 $2,000 – $2,150
1. Consists of Côté Gold, Westwood and Essakane on an attributable basis of 70%, 100%, and 85%, respectively.
2. This is a non-GAAP financial measure. See “Non-GAAP Financial Measures”.
3. Guidance for cash costs and AISC, including royalties, assumes a $4,000 per ounce gold price in the estimate of royalties per ounce.
Cash costs on a consolidated basis, excluding royalties, are expected to be in the upper half of the range of $1,100 to
$1,250 per ounce sold. Cash costs are expected to be lower in the second half of the year, reflecting the expected
increase in Côté Gold’s production over the second half of the year. AISC on a consolidated basis, excluding royalties,
are expected to be in the upper range of $1,675 to $1,825 per ounce sold.
The guidance for cash costs and AISC, including royalties, was established using a gold price assumption of $4,000
per ounce for the year. The amount of royalties included in cash costs and AISC was $380 per ounce year -to-date,
$55 per ounce higher than guidance, as the average realized price of gold sold in the first half was $4,631, or $631
per ounce above the gold price assumption used in guidance estimates. Refer to the table below for the sensitivity of
royalties based on gold price.
Royalty Sensitivities
$ per ounce sold
Gold Price Consolidated Côté Gold Essakane
$3,500 $270 $245 $350
$4,000 (guidance price) $325 $300 $450
$4,500 $390 $340 $540
$5,000 $440 $385 $600
The realized gold price in the first half of the year averaged $4,631 per ounce. The full year guidance for 2026 is
based on the following as sumptions (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. On oil price, the Company estimates that for a $10 per
barrel increase, the impact on the direct cost of fuel would increase costs by approximately $12 per ounce, exclusive
of broader indirect inflationary pressures on input costs and the supply chain.
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During the first half of 2026 price escalation of approximately 3% has been observed across certain commodity inputs,
which remained within the Company’s inflation expectations. The Company continuously evaluates key commodity
indices and forward supplier pricing guidance to proactively identify areas of potential cost inflation to inform any price
mitigation measures that may be warranted. For further information on the expected impacts from fluctuation in
guidance assumptions, refer to the Sensitivity Impact table included in the “Financial Condition” section.
Capital Expenditures
YTD 2026 Full Year Guidance 20261
($ millions) Sustaining Expansion Total Sustaining Expansion Total
Côté Gold (70%) $ 55.4 $ 27.1 $ 82.5 $ 160 $ 85 $ 245
Westwood (100%) 33.3 6.7 40.0 55 30 85
Essakane (100%) 96.2 1.0 97.2 165 5 170
Total2 $ 184.9 $ 34.8 $ 219.7 $ 380 $ 120 $ 500
1. Capital expenditures guidance (±5%).
2. Includes $7 million of capitalized exploration and evaluation expenditures also included in the Exploration Outlook guidance table.
Sustaining capital expenditures are expected to be approximately $380 million ±5%. Sustaining capital at Côté Gold,
on an attributable basis, is expected to total $160 million ±5%, an increase from the prior year due to additional non -
recurring plant and infrastructure design changes and improvements identified during the ramp -up to optimize
operations and operating costs. Côté Gold’s capital expenditures are expected to be higher in the second half of the
year due to the timing of equipment deliveries and the scheduling of projects.
Expansion capital expenditures are expected to total $120 million ±5% in 2026. The expansion capital at Côté Gold is
to de-risk the contemplated Côté expansion; early works include basic mill infrastructure and a significant pushback to
expand the operating area of the pit. Additional expansion capital is associated with development works at Westwood
to support the study of options to increase mining volumes including the potential for bulk mining in the eastern parts
of Westwood underground.
Exploration Outlook
YTD 2026 Full Year Guidance 2026
($ millions) Capitalized Expensed Total Capitalized Expensed Total
Exploration projects – greenfield $ 10.8 $ 13.3 $ 24.1 $ 11 $ 34 $ 45
Exploration projects – brownfield 3.8 1.0 4.8 7 2 9
$ 14.6 $ 14.3 $ 28.9 $ 18 $ 36 $ 54
Exploration expenditures for 2026 are expected to be approximately $54 million , the majority of which will be
expensed. The Nelligan Mining Complex is the primary focus for exploration in 2026, with an estimated spend of
approximately $24 million (including the construction of certain infrastructure to support an expanding program),
followed by Côté Gold at approximately $5 million attributed to IAMGOLD, and Essakane at approximately $6 million.
Income Taxes Paid and Depreciation Outlook
($ millions) YTD 2026
Full Year
Guidance 2026
Depreciation expense $234.3 $480 (±5%)
Income taxes paid $100.9 $205 – $215
The Company expects to pay cash taxes in the range of $205 to $215 million during 2026. Cash tax payments do not
occur evenly by quarter, as amounts paid in a quarter can include payments of the final balance of the prior year taxes
and payments of instalments for the current year, both required to be made at times as prescribed by different
countries. There are no significant cash taxes expected in respect of the new global minimum top-up taxes (“GloBE”).
Depreciation expense for 2026 is expected to be $480 million (±5%) corresponding with production levels and
depletion of certain pit phases for which waste stripping costs have been capitalized.
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ENVIRONMENTAL, SOCIAL AND GOVERNANCE
The Company released its 2025 Sustainability Report on April 27, 2026. The report draws upon various ESG
frameworks and standards and internationally recognized methodologies such as the Global Reporting Initiative and
Sustainability Accounting Standards Board. In June 2026, the Company was named one of Canada’s Best 50
Corporate Citizens by Corporate Knights for 2026.
Health and Safety
The TRIFR in the second quarter was 0.70 as of June 30, 2026, compared to 0.41 as of June 30, 2025, and tracking
at 0.56 for the year. IAMGOLD is continuing to advance its critical risk management program and visible leadership to
improve safety and reduce high-potential incidents.
Environmental
There were zero significant environmental incidents reported for the quarter . Essakane updated its 2019 Closure Plan
and submitted the revised plan to the Burkina Faso authorities in June 2026, as required by regulation.
Social Performance
During the second quarter 2026, IAMGOLD continued its strong relationship with local communities at each of our
sites, including supporting community -based and wellness -focused initiatives. Notable investments included the
donation of medical equipment to healthcare facilities servicing the local communities near Essakane early this spring;
Westwood’s participation in the Social Investment Fund of the Mining Industry (FISM) of Abitibi -Témiscamingue,
launched in April 2026; and Côté Gold’s funding for Dynamic Earth Sudbury and Timmins Hospital.
Indigenous Relations
As a Canadian business committed to responding to the Truth and Reconciliation Commission of Canada’s Calls to
Action, IAMGOLD is continuing to advance a company -wide initiative to articulate how it works with Indigenous
peoples beyond reconciliation, towards a future that builds upon the Company’s experiences and reflects its values.
This work is intended to support the creation of a coherent vision for reconciliation and a roadmap to help guide the
Company’s actions as an organization, embedding reconciliation more intentionally across the organization, and
defining actions to guide respectful, mutually beneficial relationships with Indigenous communities.
In the second quarter 2026, IAMGOLD launched a 5 -pathway reconciliation plan, along with new mandatory
awareness training for all its Canada -based employees titled “Indigenous Peoples of Canada: An Introduction to
History and Relationship”.
Culture and Inclusion
IAMGOLD includes annual objectives to support its efforts in integrating culture and inclusion into the strategy and
corporate scorecard, for the annual objectives, and tracks metrics in site and corporate reports for visibility and
measurement. As of June 30, 2026, women accounted for 33% of the Company’s executive leadership team.
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OPERATIONS
Côté Gold Mine (IAMGOLD interest – 70%) | Ontario, Canada
Q2 2026 Q2 2025 YTD 2026 YTD 2025
Key Operating Statistics
(100% basis, unless otherwise stated)
Ore mined (000s t) 3,072 3,170 6,625 6,285
Grade mined (g/t) 0.86 0.95 0.93 0.87
Operating waste mined (000s t) 4,856 5,838 9,803 11,505
Capital waste mined (000s t) 3,808 2,800 4,634 4,773
Total material mined (000s t) 11,736 11,808 21,062 22,563
Strip ratio1 2.8 2.7 2.2 2.6
Ore milled (000s t) 2,873 2,930 5,214 5,027
Head grade (g/t) 1.12 1.10 1.10 1.13
Recovery (%) 93 93 93 93
Gold production (000s oz) – 100% 96.2 96.2 170.9 169.2
Gold production (000s oz) – 70% 67.3 67.0 119.6 118.1
Gold sales (000s oz) – 100% 95.5 98.1 173.9 171.9
Gold sales (000s oz) – 70% 66.9 68.4 122.0 120.0
Average realized gold price2 ($/oz) $ 4,379 $ 3,336 $ 4,584 $ 3,160
Financial Results ($ millions – attributable
interest)
Revenues $ 293.2 $ 229.2 $ 560.3 $ 380.4
Cost of sales3 104.3 83.9 198.8 149.1
Production costs 82.8 68.0 160.2 124.4
(Increase)/decrease in finished goods 0.9 0.7 (0.5) (0.1)
Royalties4 20.6 15.2 39.1 24.8
Cash costs2 103.9 83.6 197.9 148.7
Sustaining capital expenditures2 36.6 27.2 55.4 45.4
Expansion capital expenditures2 18.0 6.6 27.1 9.7
Total sustaining and expansion capital
expenditures2 54.6 33.8 82.5 55.1
Earnings from operations 141.6 101.5 272.6 151.2
Mine-site free cash flow2 150.3 93.9 262.2 151.5
Unit costs per tonne2
Mine costs per operating tonne mined2 $ 4.49 $ 3.88 $ 4.83 $ 3.69
Mill costs per tonne milled2 $ 20.85 $ 16.94 $ 22.54 $ 18.30
G&A costs per tonne milled2 $ 8.36 $ 5.80 $ 8.72 $ 7.09
Operating costs per ounce5
Cost of sales excluding depreciation ($/oz sold) $ 1,562 $ 1,222 $ 1,630 $ 1,240
Cash costs2 – excluding royalties ($/oz sold) $ 1,245 $ 997 $ 1,301 $ 1,030
Cash costs2 ($/oz sold) $ 1,554 $ 1,219 $ 1,622 $ 1,237
AISC2 – excluding royalties ($/oz sold) $ 1,773 $ 1,389 $ 1,773 $ 1,418
AISC2 – including royalties ($/oz sold) $ 2,082 $ 1,611 $ 2,094 $ 1,625
1. Strip ratio is calculated as waste mined divided by ore mined.
2. This is a non-GAAP financial measure. See “Non-GAAP Financial Measures”.
3. Excludes depreciation – as disclosed in the segment note in the consolidated interim financial statements.
4. Includes the 7.5% gross margin royalty and various net smelter return royalties.
5. Cost of sales, cash costs excluding royalties cash costs and AISC per ounce sold may not be calculated based on amounts prese nted in this table due to
rounding.