Welcome to the 2015, Q4 and Full Year Operating and Financial Results Conference Call. As a reminder, all participants are in listen only mode. And the conference is being recorded. After the presentation, there will be an opportunity to ask questions. [Operator Instructions] I would now like to turn the conference over to Bob Tait, Vice President, of Investor Relations. Please go ahead.

Thank you. And welcome to the IAMGOLD conference call. Joining me on the call today are Steve Letwin, President and CEO of IAMGOLD; Gord Stothart, Executive Vice President and Chief Operating Officer; Carol Banducci, Executive Vice President and Chief Financial Officer; Craig MacDougall, Senior Vice President, Exploration and Jeff Snow, General Counsel and Senior Vice President, Business Development. Our remarks on this call will include forward-looking statements. Please refer to the cautionary language regarding forward-looking information in our disclosure documents and be advised that the same cautionary language applies to our remarks during the call. The slides that are referred to during the presentation can be viewed on our website. I'll now turn the call over to our President and CEO, Steve Letwin.

Thank you, Bob. And good morning, everybody. While as you can see we had very strong operating results in 2015, as gold prices fell for the third year in a row we continue to optimize our performance in net production and cost guidance, production of 806,000 ounces was above the midpoint of the range. All-in sustaining costs were $1,118 per ounce. However, excluding a number of unusual items that Carol will walk you through, we came in at $1,057 an ounce for the year. This is a tremendous improvement over we were just three years ago, and I'm very, very proud of the team for what they've been able to do. Essakane had another outstanding year, production was up 15% and all-sustaining cost down $50 an ounce. The indicated resource Essakane [ph] selling into deposit increased 84%. Although production at Rosebel was off guidance by 2,000 ounces mainly due to lower grades and harder rock. A lot of hard work is done to extend the mine life, reduce cost ad improve productivity. And I'll just reinforce my optimism for Rosebel, that we're going to be able to do what we did at Essakane at Rosebel over time. A significant amount of development and rehabilitation work was completed at Westwood. The mining strategy has been redesigned. We have the robust mine plan. Our cost structure is improving as we systematically remove cost and drive productivity higher. We reduced capital spending and our overall liquidity is strong with $700 million, nearly $700 million in cash and bullion and a $100 million line of credit, that is fully committed and available with the option to add another 150 million. A lot of hard work by Carol Banducci and her team and operations [indiscernible] with Carol a great achievement for the company. Exploration results have been positive, including a 27% increase in Boto's indicated resource and an initial resource estimate for the Diakha project. In January, we announced updated mine plan with current gold price environment that confirm a portfolio of assets capable of delivering higher economic returns. At Westwood the focus is on underground development to expand the mining area as we ramp up production over the next four years. We expect Westwood to be a 20 year mine, the lowest unit cost of any of our operations. At Rosebel and Essakane, we see more opportunities to increase operating returns, including solar power at Essakane in securing soft rock resources at Rosebel. We will continue to look at investment opportunities that have the potential to increase our near term cash flow. With respect to guidance for 2016 we expect to produce between 770,000 and 800,000 ounces of gold. We lowered our all-in sustaining cost guidance by $75 an ounce for the second year in a row. In 2016, we expect all-in sustaining cost of between $1000 and $1100 an ounce. With that, I'll turn you over to Carol for a review of our financial results.

Thanks, Steve. And good morning, everyone. We began 2016 in a strong financial position with $691 million in cash and bullion. As Steve said, the underlying performance of our business was strong. At the same time, our financial results in 2015 and were specifically in the fourth quarter were impacted by a number of significant items. As I walk through the slides, I'll point out the impact these items had on cost of sales, operating cash flow and earnings. The largest item was $580 million after tax impairment charge relating to the Côté Gold project and the Westwood mine. This was a non-cash charge comprising of $400 million against the carrying amount of the Côté Gold exploration and evaluation asset and $180 million against the carrying value of Westwood property, plant and equipment. The assessment was based on a $1,100 per ounce gold price assumption for 2016, and $1,200 per ounce long-term. In the previous year, we used $1,250 per ounce for 2015 and $1,300 long-term. The next item relates to derivative contract for fuel and currency. We made an $86.5 million cash payment to sell derivative contract in the fourth quarter, of this amount, $72.5 million related to the early termination of the 2016 and 2017 derivative contract. The remainder relates to realized losses on the 2015 derivative contract. The cash payment for the full year was $128 million. The P&L was impacted by a net loss of $15.6 million in the fourth quarter. Of this amount a $11 million related to the early termination of fuel contract and the remainder related to realized losses on currency contract settled in the quarter. The full year net loss was $65.5 million, and included $45.5 million of losses on early terminated and settled fuel contract. The third item was the $28…

Thanks Carol. As you know, last night we released our 2015 year-end reserves and resources statement, so I'll begin with that. This slide shows a year-over-year comparison of our reserves and resources. Please keep in mind that our mineral resource estimates are inclusive of mineral reserves. In total, proven and probable attributable gold reserves after depletion decreased by 11% or 0.9 million ounces to 7.7 million ounces at the end of 2015. The decline was primarily due to depletion as we produced 806,000 attributable ounces in 2015. Other notable factors contributing to the revised estimate were a lower gold price assumption, which accounted for a decline of 294,000 ounces. Our gold price assumption used for reserves at the end of 2015 was $1,200 per ounce compared to $1,300 per ounce the year before. At Westwood, 213,000 ounces of resources were converted to reserves, partially offset by refinement of the reserve model that resulted from additional infill drilling and modeling. A change in economic parameters, including improved operating costs at Essakane had a positive impact of 337,000 ounces, and at Sadiola 211,000 ounces were converted from reserve - resources to reserves and the gold price assumption increased to $1190 an ounce from $1100 the year before. Total attributable measured and indicated resources, inclusive of reserves increased at all sites and overall by 10% or 2.1 million ounces to 23.5 million ounces at the end of 2015, using the exact same gold price of $1500 per ounce for resources. Turning now to review of operation, I'll focus on the performance highlights from last year, and our outlook for 2016. Essakane, had another record year in 2015 with attributable production up 15% to 383,000 ounces. This reflects continued mill optimization and 15% grade increase and the mining of the Falagountou pit in the…

Thank you, Gord. And good morning, everyone. In 2015, we spent $49 million on exploration and evaluation studies, down 30% from the year before and 50% from the year before that. This is noteworthy because despite the fiscal restraints the exploration teams has done a great job advancing our high potential projects through the pipeline. Our budget for this year of $47 million is little changed from last year, although the allocation shift to less spending on Greenfield and Brown field exploration and more and development and evaluation studies such as for the Boto project. Results I will refer to have been previously disclosed in accordance with securities regulations and has bee duly signed off by qualified persons within the company's we reported them. As you hear from Gord, our overall measured and indicated resources increased by 10% in 2015. There was no change in our gold price assumption for resources of $1500 at our owned and operated sites. Contributing to the increase was a positive change in the economic parameters, which drove Rosebel's measured and indicated resources up 9% and Sadiola is up 6%. At Essakane indicated resources increased by 7% with the major reason an 84% increase in indicated resource at the Falagountou deposits of 613,000 contained ounces. Now turning to our exploration project. At the Boto Gold project in Senegal the results from the infill drilling program on the Malikoundi deposit were incorporated into a revised resource model. This resulted in a 27% increase in Boto's indicated resource to 1.6 million ounces and the average grade increased by 7% to 1.8 grams per ton gold. Inferred is 125,000 ounces with an average grade of 1.3 grams per ton gold. In 2016 we expect to continue with technical study to support the economic evaluation of the projects and…

Thank you very much Craig. Our priorities this year are to meet guidance again, advance the ramp up development plan for Westwood, secure a source of soft rock for Rosebel and drive cost down further. Obviously cash preservation is key to us and we demonstrated our ability to do this last year. The morality [ph] in gold price continues. We're in enviable position. We're highly leveraged to the price of gold, in fact, I think most studies indicate we're the best proxy for gold out there. And as you can see on this slide we are far more toward potential in arising gold environment than any of our peers. Thank you for listening and we'll take questions now.

Thank you. We will now begin the question-and-answer session. [Operator Instructions] The first question comes from David Haughton of CIBC. Please go ahead.

Good morning. Steve, Carol and Gord. Thanks for the call. I got a question, and Steve, you don’t mind if it probably relates to Gord. Having a look at the reserves that are come out, can you confirm that the profile that were given for the various assets are consistent with the reserves and resources that have come out overnight?

There are some slight differences between the LOML plans that you received in the reserves and resources, some of those LOM plans were completed ahead of the completion of the reserves and resources and were based on the prior years RNR [ph] statement. So I guess, the answer is – I won't confirm it, there are some slight variances.

Okay. And would you be able to give us an idea as to where those might be?

Dave, I'd have to look at it, I believe Rosebel is quite close and Essakane is quite close. I think there are some additional ounces in the resources for Westwood on the current mine plan. But I doubt, I will look at them.

Okay. Thank you for that. And you had mentioned Gord in your discussion that Westwood is so far looking as expected, would you just like to elaborate what you're seeing there please?

Yes, I mean, I was just up with [indiscernible] last week, with Craig and some other people and looking at what they are doing. They've got a fairly comprehensive system for tracking where development is occurring on a – actually on a ship-by-ship basis. And currently as of the couple days ago when I talked to the sites, they were running 2% or 3% above budget in terms of development productivity and hitting pretty close to their targeted planning, like mining where they are expecting to be planning that always ships a little bit on a week-to-week basis, but catches up through the year. So I - we started out with a pretty aggressive cadence. We will be ramping up later in the year as we get into some new areas and we're able to bring on another crew. We're thinking that would be around mid year or that’s what the current plan is. So the first quarter is not equal to sort of the year, the production or the year of development plan provided by board, it’s a little lower than that because the crews are displaced. But I like where we're headed, we're well ahead on lot of the development and we're just still ramping up some of the attractive element and the vertical development is slightly behind, but it’s catching up as well.

And the grades are lining up as expected?

Yes, definitely.

All right. Thank you very much for that.

The next question comes from Matthew Field with Bank of America Merrill Lynch. Please go ahead.

Hey, guys. Thanks for taking question. In the MD&A you said that regarding the asset sale proceeds you kept observed, performed and fulfilled your obligations under the bond indenture with regards to those proceeds. I think it was about %560 million as of the last quarter earnings call that had to be kind of allocated by March of 2016. Can you tell us how you fulfilled and performed those obligations with that cash balance?

I can respond to that question Matthew. So if a take a look at our expenditures for 2015, you'd pick up our capital expenditures, you would look at the hedges that we settled both naturally, as well as the early termination. We also have commitments for capital that we'll be spending fund on for 2016 within six months time period, that’s allowable until we have the indenture. And we also cash collateralized our letters of credit. So when you combine all of those activities we fulfilled those obligations.

Okay. Do you mind giving us a break out of sort of roughly what each of those four buckets, how those add up to the total?

I can certainly do that, following the call, but I would say a large majority of that expenditure is capital.

Okay. For 2015 and 2016?

That’s correct. And if you go through our financial statements and there is lot disclosure on the call today, the settlement after hedges, so all that detail is there as well.

Okay. Great. Thanks. And then lastly, I noticed in your sort of listing up the priorities for 2015 and forward, I didn’t mention you're leveraging as one of those. How closely are you paying attendant to your balance sheet? It looks like leverages has gone up quite significantly over the last year and with your bonds sort of trading the way they are, it seems like a pretty high IRR investment to keep buying some of those back? Is that something that you're interested in pursuing?

I think, again, as we look, we've done historically, we look at our capital allocation and we weigh it against our liquidity and we've got one of the strongest balance sheet over there in the mining’s and metal sector and its because we've been very conscientious of managing our balance sheet in a very prudent way and we will continue to do that.

Okay. Thanks very much.

The next question comes from Dan Rollins of RBC Capital Markets. Please go ahead.

Yes, thanks very much. Thanks for taking the question. Just a couple of different questions, one on Rosebel to start. You've mentioned the potential for the satellite soft rock feed, I know its been a developing story, couple of years they talked about potential heap leaching and that’s seem to have fallen off. But could you give us an update on when we potential could see a resource on some of the softer rock feet from the satellite deposits?

Hi, Dan. I did mention heap leaching, but we actually are continuing to do studies in that area and we've just chosen to - until we actually have something noteworthy to talk about to bring it forward. But we are continuing work in that area. The satellite resources, it’s an ongoing push, the Serotonin [ph] option is – we've had a number of years of – or couple of years of exploration there. We're into some news zones, it looked very, very promising, it’s still early days. So we're still probably a couple years away. In addition to the existing areas that we're looking at, we are doing a lot of work with our partners and the government and looking at some other norm resources, certainly deposits, whether they are ore or not we still need to prove out. But there are some – there is a few significant soft rock deposits out there that we're looking to see if we can bring into the portfolio with the government and then begin mining. The timing on that might be hard to say, we're pushing pretty hard in that regard, but when dealing with governments and third parties it sometimes takes a while.

Okay. Understood. And the agreement you have in place with the government Suriname, one the lower power rate on the expanded land package. There is no expiry that on that option, correct?

No, there is no expiry date. There is an expiry date on the existing mineral lease, I think it’s in the 20, 30s sometime I believe, but we can get the number too. And we can – not yield laterally, but we can apply for an extension to that. So the huge AV sort of attracts that.

Okay. So you continue focus on this offer which you should see some color hopefully next couple of years?

I sure, hope so.

Okay. Perfect. And then just on – just that Sadiola, could you guys maybe I don’t know, if you have the numbers off hand, but could you just give a breakdown of how much of the current reserve at Sadiola is for the existing authorized operation from both tons and ounces? Just trying to get a split, because there is a quite bit thus far included from the Sadiola [ph] project?

Yes. It’s certainly off a little bit, give me a second…

You can offline respond to.

Yes, okay.

And then just to some of the exploration projects, actually quite bit of success in West Africa, how do you see of the project you have right now, which were sort of the top priorities and which ones are you starting to get excited about that could become your next operation in the region?

Well, obviously we're excited about the advances that we've had at both Boto and the new the Diakha discovery, the Boto is a little more advanced in it, we're now moving towards applying for the exploitation permits there which we'll be submitting before the end of the year. In terms of continued upside, certainly we're excited about the new Diakha discovery which remains open as we've indicated in all directions. So we haven’t closed up one off yet and the initial resource is very promising and the grades look interesting. So we're going to keep working on those projects and adding ounces to them for this year and we continue it as Gord mentioned we have been doing work around Sadiola as well and that’s delivered some early results for us and extending the off site mining life there. So we have a number of things that we're working on, that are improving our asset base and certainly our outlook for the future.

Okay. Perfect. And how long that once you submit the permit or get the application for the exploitation permit, what's the typical timeframe there to get clarity on that?

We have to submit I think it’s in November and the notice from the government should come out around March of the following year, that’s what we would expect. They do sometimes suffer from some bureaucratic vagrancy that we'll have to push through but that’s the timing that we're expecting right now.

Okay. Perfect. And just maybe Gord, just at Sadiola, Yatela, is there any significant reclamation liabilities at Yatela, now that’s its coming to an end and as to how much – what's the annual spend there from your equities stake going forward?

There is an outstanding amount, I think it covered off in the MD&A under ARO [ph] The total amount on a 100% basis which were liable to our – I believe is somewhere in the neighborhood of $50 million to $55 million and I think the span right now is I want to say it in the $5 million to $10 million range and we're in that neighborhood.

Okay. And that spend would..

That’s a 100% basis, we're up for half of it.

Okay. And then that spend would be nether off the dividends coming from the JV partner?

Unfortunately not, they are different companies.

Okay. Okay, that’s great. Thank you very much.

This concludes time allocated for questions on today's call. I would now like to turn the conference back over to Bob Tait for any closing remarks.

Thank you, operator. And thank you all for dialing in. If you have any further questions please don’t hesitate to get in touch with me or Laura in the investor relations department. I know you have a lot of calls today. It’s been busy evening for a lot of you. So thank you very much for participating today.

This concludes today's conference call. You may now disconnect your lines. Thank you for participating. And have a pleasant day.