Page 57 MLEN SPRING 2020 Page 57 project is looking versus what expec tations were beforehand Certainly there are some changes to the timing of what the schedule looked like versus where wed looked at ear lier the current situation has forced us to go back and sort of revisit timing On a cost basis we have seen on a total basis slightly a little bit of cost up just more from holding costs over the last while However going forward we do see some real opportunities to maybe recoup some of those Stothart added And the goforward cost is really not materially diferent from anything weve said previously W e can execute on this project pretty well within the budget I mean one nice thing about advancing the engineering is it s really narrowed the goalposts on what the size of the capital nut will be IAMGold is adjusting production plans for Cote regularly W e have a lot of or not a lot but we have a number of bids in hand already that help us understand rather than an engineer ing estimate what a reallife estimate of those costs will be So we are ad justing our plans accordingly And the other piece that were looking at in our favor over the next little while is our opportunity to perhaps do some hedge work on the Canadian dollar exchange rate and on the fuel price through the construction period as our estimates to date have all been done at CAD 13 exchange rate and I think a 65 or 70 oil price So may be we can lock in some nice benefts on that side if and when we choose to move forward with Cote And those will be pretty substantial I mean the Canadian dollar exposure to the capi tal cost is around 80 to 85 of the capital cost So CAD 141 is hugely benefcial to us in US dollar terms And when should we expect an up date either on the project or the stra tegic review asked W olfson W ere just going through that analy sis now W e had our Board meeting W ork Sa f e ty En vir onmen t ally friendly Deep w ood e xplor a tions Win t er Drilling Har d R ock Drilling Cor e Rec o v er y Deep Casing Sw ampland Drilling Azi Drilling Cor e Orien t a tion Consis t en t drilling P at t erns f or definition drilling A S I N I K E D I A M O N D D R I L L I N G Worldwide e xperience Hard Rock Drilling Drilling average 20003000 metres per 30 days 3r d Gener a tion Diamond Drilling Oper a tions Semi hy dr aulic 37 JK S Bo yle s Y Ex cellen t f or deep e xplor a tions Y En vir onmen t ally friendly Y Ver y r eliable Y Minimal down time Y Depth c apacity 650m NQ F ully h y dr aulic EF50 Drill Rig Y Mine R eady Y Sa f e ty Y Ex cellen t f or e xplor a tions with depth c apacity 1500 NQ A vailable f or hire Guaranteed satisfaction Inquiries Phone 7053603333 asinik e1gmailc om Email Asinik e Drilling Office Naotk amegwanning Firs t Nation 1800 P a witik St P a witik On t ario P0X 1L0 ANISHINAABE UNITY AND HARMONY WITH MO THER E AR TH yesterday May 4 and were discussing the timing Im hop ing certainly by the middle of the year well be able to come out with a really clear message as to how were going to proceed IAMGold adjusts production plans for Cote regularly