Page 56 Page 56 MLEN SPRING 2020 By Kevin V incent W orkers contractors and com munities that hug the Highway 144 corridor between T immins and Sudbury may fnd out later this year what IAMGold plans to do about the Cote Lake gold project near Goga ma President and CEO Peter Gor don Stothart told investors and jour nalists at an early May conference call that the company is doing well and spending for the Cote property planned for 2020 is up substantially In this uncertain environment caused by the global COVID19 cri sis IAMGOLD is fortunate to be op erating from a position of strength said Stothart W e have a strong balance sheet to withstand opera tional andor market disruptions W e have operations in diverse ju risdictions which in turn diversifes our risk of exposure to the current crisis Stothart said their operational team enacted an efective multilevel cri sis management process exceed ingly early on in the outbreak which has enabled timely implementation of strict protocols and a quick and agile response to a fuid situation Using a sports metaphor Stothart said IAMGOLD has deep bench strength across the organization at both the operations and corporate level to support the business and the company has been successful in taking a collaborative approach to government and community re lations At Cote our planned capital ex penditures for 2020 were increased by 10 million to 45 million to sup port progress on the early works phase including site tree clearing work from the frst quarter access road development advancement of the construction camp facilities and advancement of detailed project engineering The company continues to opti mize its existing operations and de risk development projects Stothart says IAMGold has several cata lysts upcoming in 2020 W e are currently working on the NI 43101 report for W estwood for mid2020 This is expected to outline the de tails of a safe proftable and long life mine plan Analyst Joshua W olfson RBC Capital Markets Research Divi sion pressed Stothart on the Cote project even further With I guess 60 of the detailed engineering now complete are there any sort of indications of directionally how the IAMGold decision on Cote expected later this year m i l l e r g r o u p c a 7 0 5 6 4 7 4 3 3 1 B U I L D I N G M A I N T AI N I N G Y O U R C A N ADI A N I N F R A S T R U C T U R ES S I N CE 19 1 7 INFRASTRUCTURES ROAD MAINTENANCE CUSTOM CRUSHING SCREENING P A VING RESURF ACING ROAD REHABILIT A TION T AILINGS DAM CONSTRUCTION ENGINEERING CONSTRUCTION BRIDGE BUILDING EAR THWORKS SITE DEVELOPMENT SHOTCRETE EMULSIONS W A TERPROOFING MEMBRANES P ASTE FILL MUNICIP AL SER VICES EXPLORA TION SUPPOR T LANDSCAPE MA TERIAL RET AINING W ALL SYSTEMS MINE RECLAMA TION CONCRETE SUPPL Y DESIGN BUILD FINANCE