IAMGOLD Corp (IAG) 2022 Q3 法說會逐字稿

Thank you for standing by. This is the conference operator. Welcome to the IAMGOLD Third Quarter 2022 Operating and Financial Results Conference Call and Webcast. As a reminder, all participants are in listen-only mode and the conference is being recorded. (Operator Instructions)

謝謝你的支持。這是會議接線員。歡迎來到 IAMGOLD 2022 年第三季度運營和財務業績電話會議和網絡廣播。提醒一下，所有與會者都處於只聽模式，會議正在錄製中。 （操作員說明）

I would now like to turn the conference over to Graeme Jennings, VP, Investor Relations and Corporate Communications for IAMGOLD. Please go ahead, Mr. Jennings.

我現在想將會議轉交給 IAMGOLD 的投資者關係和企業傳播副總裁 Graeme Jennings。請繼續，詹寧斯先生。

Thank you, operator, and welcome everyone to the IAMGOLD third quarter 2022 operating and financial results conference call. Today joining me on the call are Maryse Belanger, Chair of the Board and Interim President and CEO; Maarten Theunissen, Interim Chief Financial Officer; Bruno Lemelin, Senior Vice President, Operations & Projects; Craig MacDougall, Executive Vice President, Growth; and Tim Bradburn, Senior Vice President, General Counsel and Corporate Secretary.

謝謝運營商，歡迎大家參加 IAMGOLD 2022 年第三季度運營和財務業績電話會議。今天和我一起參加電話會議的有董事會主席兼臨時總裁兼首席執行官 Maryse Belanger；臨時首席財務官 Maarten Theunissen； Bruno Lemelin，運營與項目高級副總裁； Craig MacDougall，增長執行副總裁；高級副總裁、總法律顧問兼公司秘書蒂姆·布拉德伯恩 (Tim Bradburn)。

Our remarks on this call will include forward-looking statements. Please refer to the cautionary statement included in the presentation under the heading cautionary statement regarding forward-looking information and be advised that the same cautionary language applies to our remarks during the call. Non-GAAP measures will also be referenced on the call and we direct you to review the cautionary statement included in the presentation and the reconciliations of these measures included in our most recent MD&A, each under the heading non-GAAP financial measures. With respect to the technical information to be discussed, please refer to the information in the presentation under the heading qualified person and technical information. The slides referenced on this call can be viewed on our website.

我們對此次電話會議的評論將包括前瞻性陳述。請參閱演示文稿中有關前瞻性信息的警告聲明標題下的警告聲明，並請注意，相同的警告語言適用於我們在電話會議期間的言論。非 GAAP 措施也將在電話會議上提及，我們指示您查看演示文稿中包含的警告聲明以及我們最近的 MD＆A 中包含的這些措施的調節，每一項都在非 GAAP 財務措施的標題下。關於要討論的技術信息，請參閱演示文稿中合格人員和技術信息標題下的信息。可以在我們的網站上查看本次電話會議中引用的幻燈片。

I will now turn the call over to our Chair and Interim President and CEO, Ms. Maryse Belanger.

我現在將把電話轉給我們的主席兼臨時總裁兼首席執行官 Maryse Belanger 女士。

Thank you, Graeme. Good morning, everyone, and thank you for joining us today. IAMGOLD reported another strong quarter building on operational and productivity initiatives put in place earlier in the year. Based on the exceptional performance of our operating teams, we forecast that 2022 production will exceed the top end of our guidance. Consequently, we increased our production guidance for the year to between 650,000 and 705,000 ounces, up from 570,000 to 640,000 ounces as previously guided. On behalf of the Board and the executive team, we applaud the tireless efforts of the IAMGOLD team for their continued commitment to operating safely, responsibly and consistently. The Cote Gold project saw a significant ramp-up in activity and is advancing well. It is following the schedule and cost rebase line provided to the market in the summer.

謝謝你，格雷姆。大家早上好，感謝您今天加入我們。 IAMGOLD 在今年早些時候實施的運營和生產力舉措的基礎上報告了另一個強勁的季度。基於我們運營團隊的出色表現，我們預測 2022 年的產量將超過我們指導的上限。因此，我們將今年的產量指引從之前指引的 570,000 至 640,000 盎司提高到 650,000 至 705,000 盎司。我們代表董事會和執行團隊，對 IAMGOLD 團隊的不懈努力表示讚賞，因為他們繼續致力於安全、負責任和始終如一地運營。 Cote Gold 項目的活動顯著增加，並且進展順利。它遵循夏季提供給市場的時間表和成本調整線。

Currently, Cote is over 64% complete and is nearing peak manpower capacity with approximately 1,500 workers at site. The site recently celebrated 6.9 million hours without a long-term injury, which is a testament to the safety commitment, skills and dedication of the Cote Gold team. Financially, the company took a significant step in addressing its funding requirement for the Cote Gold project with the announcement of the sale of our interest in the Rosebel Mine Complex to Zijin Mining for $360 million in cash and $40 million in assumed liabilities. The transaction also showed the strong support from our lenders as they provided consent to release Rosebel from their security package. The remaining funding alternatives are well advanced and we expect to be able to provide further updates in the fourth quarter.

目前，Cote 已完成 64% 以上，並接近人力峰值，現場約有 1,500 名工人。該站點最近慶祝了 690 萬小時無長期傷害，這證明了 Cote Gold 團隊的安全承諾、技能和奉獻精神。在財務方面，公司宣布以 3.6 億美元現金和 4000 萬美元承擔的負債將我們在 Rosebel Mine Complex 的權益出售給紫金礦業，從而在解決 Cote Gold 項目的資金需求方面邁出了重要一步。該交易還顯示了我們的貸方的大力支持，因為他們同意將 Rosebel 從他們的安全包中釋放出來。其餘的資金替代方案進展順利，我們希望能夠在第四季度提供進一步的更新。

I am 100% confident in our ability to address the near-term challenges in order to [develop] Cote on its updated schedule for initial production early in 2024. Our goal remains the same to be a leading high margin gold producer and we will better position IAMGOLD as a more resilient and agile company. Now starting with health and safety. Our performance continues to improve and trends below our annual targets with a days away, restricted and transferred with a range of 0.27 and total recordable injury rate of 0.72. Ensuring all of our employees go home safe after every shift is fundamental and core to our business. Every gold ounce produced has to be done safely. In the third quarter, IAMGOLD reported 184,000 ounces of attributable production, achieving the highest quarter of production in over 2.5 years.

我對我們解決近期挑戰的能力有 100% 的信心，以便 [開發] Cote 在 2024 年初的初始生產的更新時間表上。我們的目標仍然是成為領先的高利潤黃金生產商，我們會做得更好將 IAMGOLD 定位為一家更具彈性和敏捷性的公司。現在從健康和安全開始。我們的表現繼續改善並且低於我們的年度目標，離場、限制和轉移的天數範圍為 0.27，可記錄的總傷害率為 0.72。確保我們所有員工在每次輪班後安全回家是我們業務的基礎和核心。生產的每一盎司黃金都必須安全生產。第三季度，IAMGOLD 報告了 184,000 盎司的權益產量，實現了 2.5 年來最高的季度產量。

This outperformance was driven by record production at Essakane, steady performance from Rosebel and early signs of operating improvements at Westwood. The strong production results and sales volumes translated to cash cost of $1,126 per ounce sold and all-in sustaining cost of $1,559 per ounce sold. We have seen continued cost pressure from inflation though these pressures stabilized during the third quarter of 2022 relative to the first half of the year. Further, the impacts of these cost pressures on mining and processing costs were partially mitigated through the production performance of our operations. Based on the strong operating performance this year, the company expects that annual production will exceed the top end of the previous guidance range of 570,000 to 640,000 ounces and is revising its guidance upward to between 650,000 and 705,000 ounces.

這一優異表現得益於 Essakane 的創紀錄產量、Rosebel 的穩定表現以及 Westwood 運營改善的早期跡象。強勁的生產業績和銷量轉化為每售出 1,126 美元的現金成本和每售出 1,559 美元的總維持成本。我們已經看到通貨膨脹帶來的持續成本壓力，儘管這些壓力在 2022 年第三季度相對於上半年趨於穩定。此外，這些成本壓力對採礦和加工成本的影響已通過我們運營的生產績效得到部分緩解。基於今年強勁的經營業績，公司預計年產量將超過之前 570,000 至 640,000 盎司指導範圍的上限，並將其指導上調至 650,000 至 705,000 盎司。

The primary driver of this increase is at Essakane where we have increased guidance to 410,000 to 430,000 ounces, up from 360,000 to 385,000 ounces previously. We also adjusted guidance on cost with all-in sustaining cost forecast to be below original expectations coming in between $1,600 to $1,650 per ounce sold, down from the original $1,650 to $1,690 per ounce. As noted on the prior slide, we are seeing continued cost pressures from external market forces, which are shown to stabilize and have been partially mitigated through our operating performance. Further, we continue to see benefits from our oil and foreign exchange hedges. For example this year, we have a 80% hedge ratio on WTI and a 71% ratio on Brent contracts at price points between $38 and $65 per barrel. These hedges further insulated us from rising cost in the first 9 months of the year.

這一增長的主要驅動力是在 Essakane，我們將指導從之前的 360,000 到 385,000 盎司增加到 410,000 到 430,000 盎司。我們還調整了成本指引，總維持成本預測低於最初的預期，從最初的每盎司 1,650 美元至 1,690 美元降至每盎司 1,600 美元至 1,650 美元。正如上一張幻燈片所指出的，我們看到外部市場力量帶來的持續成本壓力，這些壓力已顯示穩定，並已通過我們的經營業績得到部分緩解。此外，我們繼續從我們的石油和外匯對沖中獲益。例如今年，我們對 WTI 的對沖比率為 80%，對價格在每桶 38 美元至 65 美元之間的布倫特原油合約的對沖比率為 71%。這些對沖進一步使我們免受今年前 9 個月成本上升的影響。

I will now turn it over to Maarten to walk us through financial review.

我現在將把它交給 Maarten 來引導我們完成財務審查。

Thank you, Maryse, and good morning. The following are some key highlights of our third quarter financial results. Gold revenues in the third quarter totaled $343 million for a year-to-date total of just over $1 billion. The average realized sales price for gold for the quarter was $1,690 per ounce and that includes the impact of delivering 37,500 ounces at $1,500 per ounce under our 2019 Prepay Arrangement. We have 37,500 ounces remaining to be delivered in the fourth quarter under the Prepay Arrangement. Adjusted EBITDA came in at $103 million for the quarter and exclude the $74 million after tax noncash impairment charge recognized to align the carrying value of the Rosebel cash generating unit with the sales price of the asset as well as the impact of unrealized non-hedged derivatives and foreign exchange losses mainly due to the impact of the weakening Canadian dollar on the cash balances held in Canadian dollar. Year-to-date adjusted EBITDA was $350.6 million.

謝謝你，瑪麗斯，早上好。以下是我們第三季度財務業績的一些主要亮點。第三季度黃金收入總計 3.43 億美元，年初至今總收入略高於 10 億美元。本季度黃金的平均實現銷售價格為每盎司 1,690 美元，其中包括根據我們的 2019 年預付款安排以每盎司 1,500 美元的價格交付 37,500 盎司的影響。根據預付款安排，我們還有 37,500 盎司要在第四季度交付。本季度調整後的 EBITDA 為 1.03 億美元，不包括為使 Rosebel 現金產生單位的賬面價值與資產銷售價格以及未實現的非對沖衍生品的影響保持一致而確認的 7400 萬美元稅後非現金減值費用匯兌損失主要是由於加元走弱對加元持有的現金餘額的影響。年初至今調整後的 EBITDA 為 3.506 億美元。

The company reported a third quarter net loss of $129.1 million and an adjusted net loss of $13.7 million or $0.03 per share bringing the adjusted earnings year-to-date to $6.1 million or $0.01 per share. The adjustments mainly relate to the noncash impairment charge in Rosebel and the foreign exchange differences previously mentioned. Operating cash flow before changes in working capital was $108.8 million for the quarter and $336.6 million for the year-to-date. And mine site free cash flow increased to $59.2 million in the quarter and totals $189.3 million for the year-to-date. In terms of our financial position, we ended the quarter with approximately $536 million in cash and cash equivalents and short-term investments and we had approximately $107 million available under our credit facility after drawing down $380 million year-to-date and accounting for the letters of credit in the amount of $19.3 million issued under the credit facility as collateral for certain surety bonds issued as environmental indemnities.

該公司報告第三季度淨虧損 1.291 億美元，調整後淨虧損 1370 萬美元或每股 0.03 美元，使調整後的年初至今收益達到 610 萬美元或每股 0.01 美元。調整主要與 Rosebel 的非現金減值費用和前面提到的外匯差異有關。本季度營運資金變動前的運營現金流為 1.088 億美元，年初至今為 3.366 億美元。本季度礦場自由現金流增至 5920 萬美元，今年迄今總計 1.893 億美元。就我們的財務狀況而言，我們在本季度結束時擁有約 5.36 億美元的現金和現金等價物以及短期投資，在年初至今提取 3.8 億美元並考慮到在信貸機制下發行價值 1,930 萬美元的信用證，作為作為環境賠償而發行的某些擔保債券的抵押品。

Taken together, this translates to approximately $637 million in total liquidity at quarter-end. Of note, $238 million of our cash and cash equivalents entailed by Cote Gold and Essakane as the Cote Gold JV requires its joint venture partners to fund in advance 2 months of future expenditures and at Essakane, the company uses dividends and intercompany loans to repatriate funds from its operations and the timing of dividends is usually in the second and third quarter of every year. As a result, we typically hold between USD200 million and USD250 million of cash on our balance sheet for normal course business purposes. At the end of the third quarter, the remaining attributable spend to complete the construction of the Cote Gold project is estimated to be between USD1 billion and USD1.1 billion.

總而言之，這意味著季度末的總流動資金約為 6.37 億美元。值得注意的是，我們的現金和現金等價物中有 2.38 億美元由 Cote Gold 和 Essakane 承擔，因為 Cote Gold JV 要求其合資夥伴提前為 2 個月的未來支出提供資金，而在 Essakane，公司使用股息和公司間貸款來匯回資金從其經營情況來看，分紅的時間通常在每年的二、三季度。因此，我們通常在資產負債表上持有 2 億美元至 2.5 億美元的現金用於正常課程業務。截至第三季度末，完成 Cote Gold 項目建設的剩餘權益支出估計在 10 億美元至 11 億美元之間。

Based on information currently available and prevailing market conditions, we continue to expect that IAMGOLD will require additional liquidity in 2023 in addition to the proceeds expected to be received from the sale of Rosebel to complete the construction of the project. The company is actively pursuing various alternatives to increase its liquidity and capital resources, including the options listed here. The funding alternatives are advancing well and we expect to be able to provide an update later in the fourth quarter. It is worth highlighting that the strategic review of our development and exploration assets in the Bambouk region of West Africa is active and ongoing and we will provide further updates in due course.

根據目前可用的信息和現行市場狀況，我們繼續預計 IAMGOLD 將在 2023 年需要額外的流動性，除了預期從出售 Rosebel 中獲得的收益以完成項目的建設。公司正在積極尋求各種替代方案來增加其流動性和資本資源，包括此處列出的選項。資金替代方案進展順利，我們預計能夠在第四季度晚些時候提供更新。值得強調的是，我們對西非 Bambouk 地區的開發和勘探資產的戰略審查正在積極進行中，我們將在適當的時候提供進一步的更新。

Thank you, Maarten. Now look on the operations. I will talk first about Essakane. Essakane achieved its highest quarter of production ever reporting attributable gold production of 115,000 ounces. The mine continues to benefit from the higher grade mineralization in the lower portion of the phase 4 pit with higher amounts of coarse gold. Mining activity of 12.6 million tonnes increased from the prior quarter as mining operation resumed at full capacity in September thanks to an easing of supply chain challenges in country and abroad. Mill throughput increased in the third quarter to 3 million tonnes benefiting from improved grind size and a higher plant availability at 93%. Head grades were reported at 1.5 grams per tonne and recoveries at 90%, remaining at the same level as seen in the second quarter. As announced subsequent to quarter-end, there were political developments in Burkina Faso with a change of leadership within the military led government.

謝謝你，馬丁。現在看看操作。我會先談談Essakane。 Essakane 實現了有史以來最高的季度產量，報告的可歸屬黃金產量為 115,000 盎司。該礦繼續受益於 4 期礦坑下部更高品位的礦化，粗金含量更高。由於國內外供應鏈挑戰的緩解，採礦活動在 9 月份恢復了滿負荷運轉，因此採礦活動比上一季度增加了 1260 萬噸。第三季度磨機產量增加到 300 萬噸，這得益於研磨尺寸的改進和工廠可用性的提高，達到 93%。據報導，原礦品位為每噸 1.5 克，回收率為 90%，與第二季度保持相同水平。正如季度末宣布的那樣，布基納法索的政治發展出現了變化，軍方領導的政府領導層發生了變化。

All IAMGold personnel were safe and the Essakane operation continues to operate as per the business plan. The company continues to take proactive measures to ensure the safety and security of our in-country personnel and we continue to adjust protocols and activity levels at site according to the security situation. As we look to the end of the year, we have increased our production guidance for Essakane to between 410,000 and 430,000 ounces, up from 360,000 to 385,000 ounces previously. Essakane is well positioned to have its best production year ever and that's the best year on record. We are continuing to review the positive reconciliation between head grades and the updated block model while we are also executing on targeted operational improvements. Recent initiatives focused on increasing mill throughput and recovery with improved blast fragmentation and enhanced gravity circuit recoveries through the planned addition of a double deck screen.

IAMGold 的所有人員都安全了，Essakane 的運營繼續按照業務計劃進行。公司繼續採取積極措施確保我們國內人員的安全和保障，我們繼續根據安全情況調整現場的協議和活動水平。展望年底，我們已將 Essakane 的生產指導從之前的 360,000 至 385,000 盎司增加到 410,000 至 430,000 盎司。 Essakane 處於有利地位，可以創造有史以來最好的生產年度，而且這是有記錄以來最好的一年。我們將繼續審查首級和更新後的區塊模型之間的積極協調，同時我們也在執行有針對性的運營改進。最近的舉措側重於提高磨機產量和回收率，通過計劃增加雙層篩網改進爆破破碎和增強重力迴路回收率。

Now turning to Rosebel. Operationally, the turnaround at Rosebel has continued with Q3 attributable production of 50,000 ounces. This is the fifth progressive quarter of higher production as a result of the infrastructure improvements initiated at the end of last year and the new life of mine plan announced earlier this year document a roadmap to return Rosebel to being a 300,000 ounces plus producer by 2025. Subsequent to quarter-end on October 18, the company announced that it had entered into a definitive agreement with Zijin Mining Group to sell its interest in the Rosebel mine for total consideration of $401 million with cash consideration of $360 million and the assumption of $41 million of liabilities related to equipment leases. When we initiated our strategic review process for Rosebel, our goal was to find a new owner committed to the future of the Rosebel complex and who would make the necessary investments in the operation and place it on a path for long-term success.

現在轉向羅斯貝爾。在運營方面，Rosebel 的轉機仍在繼續，第三季度的權益產量為 50,000 盎司。由於去年年底開始的基礎設施改進和今年早些時候宣布的新礦山計劃記錄了到 2025 年將 Rosebel 恢復為 300,000 盎司以上生產商的路線圖，這是產量增加的第五個季度。在 10 月 18 日季度末之後，公司宣布已與紫金礦業集團達成最終協議，以總對價 4.01 億美元出售其在 Rosebel 礦的權益，其中現金對價 3.6 億美元，假設 4100 萬美元與設備租賃相關的負債。當我們啟動對 Rosebel 的戰略審查流程時，我們的目標是找到一個致力於 Rosebel 綜合體未來的新所有者，他將對運營進行必要的投資並使其走上長期成功的道路。

Rosebel has been an important contributor to IAMGOLD and we are pleased that a company with the capabilities and reputation of Zijin, a leading global mining company, will be taking over this operation for the benefit of all stakeholders. The transaction is expected to close in the first quarter of 2023 or earlier subject to some regulatory approvals. With the exceptional diligence and efforts of our Rosebel employees and management, Rosebel is expected to produce 175,000 to 200,000 ounces, up from our prior guidance of 155,000 to 180,000 ounces. Cost pressures remain in Surinam as the country is heavily exposed to the US dollar and a net importer of goods though oil prices continue to be partially mitigated by our existing hedge program. On Westwood, gold production was 19,000 ounces in the quarter as a result of higher volumes of underground ore at a higher grade and higher tonnages from the Grand Duc satellite open pit.

Rosebel 一直是 IAMGOLD 的重要貢獻者，我們很高興一家擁有全球領先礦業公司紫金的能力和聲譽的公司將接管這項業務，以造福所有利益相關者。該交易預計將在 2023 年第一季度或更早完成，但需獲得一些監管部門的批准。憑藉我們 Rosebel 員工和管理層的非凡勤奮和努力，Rosebel 預計將生產 175,000 至 200,000 盎司，高於我們之前指導的 155,000 至 180,000 盎司。蘇里南的成本壓力依然存在，因為該國嚴重暴露於美元和商品淨進口國，儘管我們現有的對沖計劃繼續部分緩解油價。在韋斯特伍德，本季度的黃金產量為 19,000 盎司，這是由於 Grand Duc 衛星露天礦的高品位地下礦石產量增加和噸位增加所致。

Lateral development in the third quarter was 951 meters, lagging from the previous quarter due to continued labor constraints and lower mechanical availability of underground equipment. However, underground rehabilitation progress at the planned rate despite challenging ground conditions and impacts from supply chain challenges. Underground mining activity in the third quarter focused on accessing additional stope sequences in the Eastern Zones to supplement the recently opened higher grade Western and Central Zones in order to secure multiple ore faces, which will allow for simultaneous exploitation underpinning the 2023 production plan. As a result of the improvements seen in Q3 and expectations for Q4, we raised the bottom end of our production guidance to 65,000 to 75,000 ounces, up from 55,000 to 75,000 ounces previously.

第三季度的橫向開發為 951 米，由於持續的勞動力限制和地下設備的機械可用性較低，落後於上一季度。然而，儘管具有挑戰性的地麵條件和供應鏈挑戰的影響，地下修復仍在按計劃進行。第三季度的地下採礦活動主要集中在東部地區的額外採場序列，以補充最近開放的更高品位的西部和中部地區，以確保多個礦面的安全，這將允許同時開採，支持 2023 年的生產計劃。由於第三季度的改善和對第四季度的預期，我們將生產指導的底端從之前的 55,000 至 75,000 盎司上調至 65,000 至 75,000 盎司。

Now turning to Cote Gold. The project has made significant progress over the last few months. Progress rates are currently at peak levels in line with the updated project plan. The site is currently near capacity with approximately 1,500 workers. I visited that site a couple weeks ago and I have to commend the project management team for diligence and focus to keep everyone on task. As of September 30, the company's estimated attributable remaining project spend to complete construction and bring Cote Gold into production is $1 billion to $1.1 billion net of leases and working capital. It is worth noting considering current market that this estimate also assume a Canadian to US exchange rate of 1.25 to 1 so any further strength in the US dollar provides a benefit to Cote Gold's construction cost are our contracts and expenses are Canadian dollar denominated.

現在轉向Cote Gold。該項目在過去幾個月取得了重大進展。根據更新的項目計劃，進度目前處於最高水平。該站點目前已接近滿負荷運轉，約有 1,500 名工人。幾週前我訪問了那個網站，我不得不讚揚項目管理團隊的勤奮和專注，讓每個人都專注於任務。截至 9 月 30 日，該公司估計用於完成建設和將 Cote Gold 投入生產的剩餘項目支出為 10 億至 11 億美元，扣除租賃和營運資金。值得注意的是，考慮到當前市場，該估計還假設加拿大對美國的匯率為 1.25 比 1，因此美元的任何進一步走強都會為 Cote Gold 的建築成本帶來好處，因為我們的合同和費用是以加元計價的。

The company is putting in additional Canadian dollar foreign exchange hedges in addition to its existing hedges to increase exposure to current rates over the construction period. The project at the end of September was 64.2% complete with monthly project advancements estimated to be approximately 3% to 4% per month during this peak construction period. Detailed engineering is now 100% complete so all focus is on execution and mechanical installation. Key progress milestones in the third quarter include ramp-up of structural, mechanical and piping activities in the processing plant with the ball mill now mounted on the reception cradle and the pump box set in place. Significant progress on the tailings management facility, water realignment channel, publishing pan dam and other volume management infrastructure dams. The handover and assembly of the Autonomous Control Room, completion of the primary crusher concrete to the 409 elevation with just 1 more vertical lift remaining and concrete foundations for the HPGR/secondary crusher, screening building and fine ore bins handed over to SMPEI contractors.

除了現有的對沖之外，該公司還增加了加元外匯對沖，以增加施工期間對當前利率的敞口。該項目在 9 月底完成了 64.2%，在此施工高峰期，每月項目進度估計約為每月 3% 至 4%。詳細工程現已 100% 完成，因此所有重點都放在執行和機械安裝上。第三季度的主要進展里程碑包括加工廠的結構、機械和管道活動的增加，球磨機現在安裝在接收支架上，泵箱安裝到位。尾礦管理設施、調水渠、出版盤壩等容積管理基礎設施大壩建設取得重大進展。自主控制室的移交和組裝，初級破碎機混凝土完成至 409 標高，僅剩 1 個垂直升降機和 HPGR/二級破碎機的混凝土基礎，篩選建築物和粉礦倉移交給 SMPEI 承包商。

So Cote Gold continues to track well to the updated project schedule towards initial production in early 2024. IAMGOLD and our partner Sumitomo are aligned and focused on building Cote safely on time and to the current scope and budget. At this time, the critical path for the project continues to be through the processing plant and all teams are focused on ensuring outdoors work has been executed to facilitate mechanical installation within the plant once the winter season hits. The company cautions that potential further disruption including without limitation caused by COVID-19, the Ukraine war, weather, potential labor disruption and the tight labor market could continue to impact the timing of activities, availability of workforce, productivity and supply chain and logistics and consequently could further impact the timing of actual commercial production and project cost.

因此，Cote Gold 繼續很好地跟踪更新後的項目時間表，以在 2024 年初實現初始生產。IAMGOLD 和我們的合作夥伴住友商事保持一致，並專注於按時安全地按照當前範圍和預算建設 Cote。目前，該項目的關鍵路徑仍然是通過加工廠，所有團隊都專注於確保執行戶外工作，以便在冬季到來時促進工廠內的機械安裝。該公司警告說，潛在的進一步中斷包括但不限於由 COVID-19、烏克蘭戰爭、天氣、潛在的勞動力中斷和緊張的勞動力市場造成的可能繼續影響活動的時間、勞動力的可用性、生產力和供應鏈以及物流和因此可能進一步影響實際商業生產的時間和項目成本。

Now right next to Cote, Gosselin. At the end of last year we announced an initial resource for the Gosselin deposit, which is located immediately adjacent to Cote. Gosselin contains 3.4 million ounces of measured and indicated resources and an additional 1.7 million ounces of inferred resources. Notably, Gosselin has only been drilled to have the depth of Cote and is open along strike and at depth. This year we conducted a 16,000-meter diamond drill campaign targeting further delineation of the modeled resource and extension of the mineralization zone outside the resource boundaries. Results of this program will be reported once it's complete. It is worth reminding everyone that the Cote Gold life of mine plan as defined today is based on mineral reserves of 7.2 million ounces contained within the Cote deposit.

現在就在 Cote 旁邊，Gosselin。去年年底，我們宣布了緊鄰 Cote 的 Gosselin 礦床的初始資源。 Gosselin 包含 340 萬盎司的測量和指示資源以及另外 170 萬盎司的推斷資源。值得注意的是，Gosselin 的鑽探深度僅為 Cote，並且沿走向和深度開放。今年，我們開展了 16,000 米的金剛石鑽探活動，旨在進一步描繪模擬資源並將礦化帶擴展到資源邊界之外。該計劃的結果將在完成後報告。值得提醒大家的是，今天定義的 Cote Gold 礦山壽命計劃是基於 Cote 礦床中 720 萬盎司的礦產儲量。

Taken together, Cote and Gosselin have a total of 13.5 million ounces in measured and indicated results. We firmly believe that Cote Gold is not just a project, but the start of a new mining district and there is significant upside to be uncovered as there has been minimal historical exploration targeting these Cote, Gosselin installed intrusion-hosted deposits within our 596 square kilometer land package.

綜合起來，Cote 和 Gosselin 的測量和指示結果總計為 1350 萬盎司。我們堅信，Cote Gold 不僅僅是一個項目，而是一個新礦區的開始，並且由於針對這些 Cote 的歷史勘探極少，Gosselin 在我們 596 平方公里的範圍內安裝了侵入式託管礦床，因此有顯著的上行空間有待發掘土地包。

With that update, I would like to pass the call back to the operator for Q&A.

通過該更新，我想將電話轉回給接線員進行問答。

(Operator Instructions) Our first question comes from Tanya Jakusconek with Scotiabank.

（操作員說明）我們的第一個問題來自加拿大豐業銀行的 Tanya Jakusconek。

Great. Maryse, Maarten, thank you for the insights. Maryse, can I ask a couple of things? I have 3 questions. So I'm going to start number one on inflationary pressures. I want to get an understanding are you starting to see any easing of inflation in your costs in either labor and/or diesel and/or consumables? Just are you starting to see that ease a little bit? That's my first question.

偉大的。 Maryse，Maarten，謝謝你的見解。瑪麗斯，我能問幾件事嗎？我有 3 個問題。因此，我將從通貨膨脹壓力的第一位開始。我想了解您是否開始看到勞動力和/或柴油和/或消耗品成本的通貨膨脹有所緩解？只是你開始看到一點點輕鬆了嗎？這是我的第一個問題。

Tanya, if you don't mind, I'll answer the question. We have seen sharp increases like our peers in the first half of the year with inflation for oil type costs and oil linked commodities such as our grinding media. In Q3 we started seeing those costs plateau so we have not seen further increases, but the costs remain elevated at those levels that we saw in Q2.

Tanya，如果你不介意，我會回答這個問題。今年上半年，我們看到像我們的同行一樣急劇增長，因為石油類型成本和與石油相關的商品（如我們的研磨介質）的通貨膨脹。在第三季度，我們開始看到這些成本趨於平穩，因此我們沒有看到進一步增加，但成本仍然保持在我們在第二季度看到的水平。

Okay. All right. And where would you -- so you're seeing it mainly in diesel and other consumables related to fuel, petrochemicals and other?

好的。好的。你會在哪裡——所以你主要在柴油和其他與燃料、石化產品和其他相關的消耗品中看到它？

Yes. And items like steel grinding media that requires energy to produce.

是的。以及需要能量才能生產的鋼鐵研磨介質等物品。

Okay. Nothing in labor.

好的。沒有任何勞動。

No.

不。

Okay. My second question again is another technical question, which has to do with the reserves. I'm just interested to understand what exactly is happening at Essakane that you're getting this positive block model reconciliation on the grade. Like what do you think is happening with this complex geology? And my second part would be as you look at your reserves in year-end 2022, are you thinking about adjusting the gold price upward to reflect these additional or higher costs? I don't know, Maarten, you or Maryse on that one.

好的。我的第二個問題又是另一個技術問題，與儲備有關。我只是想了解 Essakane 到底發生了什麼，你在成績上得到了這種積極的塊模型和解。比如你認為這種複雜的地質情況會發生什麼？我的第二部分是，當您查看 2022 年底的儲備時，您是否正在考慮上調金價以反映這些額外或更高的成本？我不知道，Maarten，是你還是 Maryse。

Okay. I'll take the question on Essakane. We've added few consecutive months of positive reconciliation at Essakane. It is linked to really coarse gold in the Phase 4 pit and that coarse gold in fact seems to report directly to gravity. So we have great benefits from that. And we are into process of validating our block model and further, we are now drilling and trying to better understanding the type of mineralization and what's going on. So I would suspect next quarter we would be able to provide more visibility to what we see Essakane adapt. And talking about cost and all of the technical aspects, we are not seeing any changes to our kind of grade at Essakane.

好的。我會回答關於 Essakane 的問題。我們在 Essakane 增加了連續幾個月的積極和解。它與第 4 階段礦坑中的粗金有關，而粗金實際上似乎直接與重力有關。所以我們從中受益匪淺。我們正在驗證我們的區塊模型，而且我們現在正在鑽探並試圖更好地了解礦化類型和正在發生的事情。所以我懷疑下個季度我們將能夠提供更多關於我們看到 Essakane 適應的可見性。談到成本和所有技術方面，我們沒有看到 Essakane 的等級有任何變化。

Maryse, what about the company itself for 2022 year-end?

Maryse，公司本身在 2022 年年底怎麼樣？

Sorry, Tanya, would you please repeat?

抱歉，Tanya，請你重複一遍好嗎？

I guess it was just you're only left with really Westwood so it's an underground operation. That's fine, I just answered my own question there. So my last question, if I could, was just on the additional liquidity that you're looking to put in place by year-end. You mentioned that the Boto and exploration is well advanced. I thought my understanding was that you wanted to get all of that drilling done and then sort of get additional like a resource and/or other before that would be sold. Does it appear that you can get all of this done before year-end to give us an update in Q4?

我想這只是你只剩下真正的韋斯特伍德所以這是一個地下行動。沒關係，我只是在那裡回答了我自己的問題。所以我的最後一個問題，如果可以的話，只是關於你希望在年底前實施的額外流動性。你提到博托和探索進展順利。我想我的理解是你想完成所有的鑽探，然後在出售之前獲得額外的資源和/或其他資源。您是否可以在年底前完成所有這些工作，以便在第 4 季度向我們提供更新？

Tanya, so our discussions with the various bodies is commercially sensitive. But what I think we can say is that for these assets, we continue to make sure that we get the value for the asset as part of the sales process and that it's not a prior sale. So we are looking closely at the proceeds and the underlying value that bodies are offering for it.

Tanya，所以我們與各個機構的討論具有商業敏感性。但我認為我們可以說的是，對於這些資產，我們將繼續確保我們在銷售過程中獲得資產的價值，而不是之前的銷售。因此，我們正在密切關注機構為其提供的收益和潛在價值。

Okay. So you feel you could get this done in Q4?

好的。所以你覺得你可以在第四季度完成這件事？

Yes.

是的。

Okay. And then I noticed in your language in your release that you removed joint ventures off as one of your options -- joint venture partnerships. We had mentioned these on previous calls. So we're still looking to keep 100% of Essakane and Westwood. Is that a fair statement?

好的。然後我注意到在您發布的語言中，您刪除了合資企業作為您的選擇之一 - 合資企業夥伴關係。我們在之前的電話中提到過這些。所以我們仍然希望保留 100% 的 Essakane 和 Westwood。這是一個公平的說法嗎？

Yes, it is, Tanya.

是的，是的，坦尼婭。

Okay. And then my last question just on this funding gap. Just once we sell or get value for Boto and other exploration, would you put your picking order as options on royalties and streams as preferred option to debt and/or equity? I'm just trying to understand the ranking of the remaining funding.

好的。然後是關於資金缺口的最後一個問題。一旦我們出售或獲得 Boto 和其他勘探的價值，您是否會將您的選擇訂單作為特許權使用費和流的選項作為債務和/或股權的首選？我只是想了解剩餘資金的排名。

So we are looking at the options with the various solutions in the capital structure and it's a trade-off between the cost of capital and the permanency of solutions. So we have not decided a picking order. We are looking through the various options with that competitive tension between the cost of capital and the permanency of the solutions.

因此，我們正在研究資本結構中各種解決方案的選擇，這是資本成本與解決方案持久性之間的權衡。所以我們還沒有決定揀貨順序。我們正在考慮資本成本和解決方案持久性之間的競爭緊張局勢的各種選擇。

I guess I'll stay tuned. Do you think you will have the full funding so including your other option in addition to the sale of Boto and other by year-end?

我想我會繼續關注。您是否認為您將獲得全部資金，以便在年底前包括除了出售 Boto 和其他產品之外的其他選擇？

Yes, we will be able to communicate this to the market before year-end.

是的，我們將能夠在年底前向市場傳達這一信息。

Okay. That's good. Congratulations on the progress.

好的。那挺好的。祝賀你的進步。

The next question is from Anita Soni with CIBC World Markets.

下一個問題來自 CIBC World Markets 的 Anita Soni。

First question, you mentioned the amount of cash that is held between Essakane and Cote. Could you give us a breakout of that? I think it's probably -- it's critical to my thinking in terms of how much is actually put ahead for the Cote construction already.

第一個問題，你提到了 Essakane 和 Cote 之間持有的現金數量。你能給我們一個突破嗎？我認為這可能——就我已經為 Cote 建設實際預付了多少資金而言，這對我的思考至關重要。

So Anita, the way that the Cote spending or cash cost work is we have to provide 2 months of funding, but the cash cost is on the beginning of the month. So at the end of the month, we have approximately 1 month of expenditures remaining and then we need to fund on the next day. So we see it as 2 months of cash. I would say that it's roughly 50-50 of that amount that we've included in the MD&A.

所以 Anita，Cote 支出或現金成本的工作方式是我們必須提供 2 個月的資金，但現金成本是在月初。所以在月底，我們還有大約 1 個月的剩餘支出，然後我們需要在第二天提供資金。所以我們將其視為 2 個月的現金。我會說這大約是我們在 MD&A 中包含的數量的 50-50。

Okay. So 50-50 between Essakane and how long does it take you to upstream cash from Essakane to go into Cote?

好的。那麼 Essakane 之間的 50-50 和你從 Essakane 到 Cote 的上游現金需要多長時間？

It doesn't take us long at all. However, we only can do it in a certain window and that window is normally Q2 and Q3. So that's why the cash balance build up in Q4 and Q1 and then we start repatriating cash again in that window.

它根本不需要我們很長時間。但是，我們只能在某個窗口中執行此操作，而該窗口通常是 Q2 和 Q3。這就是為什麼現金餘額在第四季度和第一季度增加，然後我們在那個窗口再次開始匯回現金。

Okay. And then as I look to just a minor point, but going into Q4 the guidance for the year at Essakane would imply a weaker quarter so somewhere around the range I think it was about 85,000 ounces or so. And you did mention that you'd be focusing on stripping to prepare yourself for the grade profile in 2023 and 2024. So is that accurate my assumption that you'd be focused more on stripping and less on delivering ore to the mill at Essakane in Q4?

好的。然後我只關註一個小問題，但進入第四季度，Essakane 的年度指導將意味著一個較弱的季度，所以我認為大約在 85,000 盎司左右。你確實提到你將專注於剝離，為 2023 年和 2024 年的品位概況做好準備。所以我的假設是否準確，即你將更多地關注剝離而不是將礦石運送到位於 Essakane 的工廠Q4？

Anita, thanks for the question. First of all, we do expect grades to normalize closer to reserve grades in the fourth quarter. We also expect the mill to be processing 100% hard rock as opposed to a combination of saprolite and hard rock. And also we have noted the security situation in the country. That's putting a bit of pressure on our people. The situation is managed. But at this point, I would rather be a little conservative when it comes to Essakane.

安妮塔，謝謝你的提問。首先，我們確實希望等級在第四季度正常化，接近儲備等級。我們還預計該磨機將加工 100% 的硬岩，而不是腐泥土和硬岩的組合。我們也注意到該國的安全局勢。這給我們的員工帶來了一些壓力。情況得到控制。但在這一點上，在談到 Essakane 時，我寧願保守一點。

Okay. And then just moving backwards to the funding gap in the Bambouk package of assets. I believe you carry it on the balance sheet right now for about $258 million. Is that an accurate assumption of the value that you're trying to achieve when you sell that or is there something else that we should be thinking about?

好的。然後倒退到 Bambouk 一攬子資產中的資金缺口。我相信您現在將其計入資產負債表，約為 2.58 億美元。這是對您在出售時試圖實現的價值的準確假設，還是我們應該考慮的其他事情？

Anita, thanks for the question. It is very commercially sensitive at this stage in our process and we cannot comment on value. That is not our carrying value of these assets on our balance sheet. For Boto, it's closer to $80 million.

安妮塔，謝謝你的提問。在我們流程的這個階段，它在商業上非常敏感，我們無法對價值發表評論。這不是我們資產負債表上這些資產的賬面價值。對於博託來說，它接近 8000 萬美元。

No, I meant the package of assets, all of them together were $258 million I thought, but Boto itself is $80 million you said?

不，我的意思是資產包，我認為它們加起來是 2.58 億美元，但你說 Boto 本身是 8000 萬美元？

So the other assets is exploration assets and we don't -- we expense our exploration expenditures so we don't have significant value on the balance sheet. But value of the carrying -- accounting carrying value is not represented of the value of the package in our view.

因此，其他資產是勘探資產，而我們不是——我們將勘探支出支出為費用，因此我們在資產負債表上沒有重大價值。但賬面價值——在我們看來，會計賬面價值並不代表包裝的價值。

(Operator Instructions) The next question is from Lawson Winder with Bank of America.

（操作員說明）下一個問題來自美國銀行的 Lawson Winder。

Thank you for the update. On the African asset sales, I just wanted to sort of drill down a little bit more on your previous comment. So when you say you expect to have some sort of announcement with regard to the strategic alternatives for West Africa by the end of Q4, do you mean for Boto plus the 2 smaller exploration stage assets?

謝謝你的更新。關於非洲資產出售，我只是想更深入地了解您之前的評論。因此，當您說您希望在第四季度末發布有關西非戰略選擇的某種公告時，您是指 Boto 加上 2 個較小的勘探階段資產嗎？

Yes, it would be for the package. It would be for the 3 properties, yes.

是的，這將用於包裹。是的，這將用於 3 個屬性。

And is the idea that they would all be sold together as a package or could there be multiple buyers for each of those assets within that package?

是將它們作為一個包一起出售，還是可以有多個買家購買該包中的每項資產？

They could be sold separately, 2 of them, 3 of them together. It really depends on where we see the value and where we can create some value for the company. So no definitive answer yet on this and it's still work in progress.

它們可以單獨出售，2 個，3 個一起出售。這實際上取決於我們在哪裡看到價值以及我們可以在何處為公司創造價值。因此，目前還沒有明確的答案，它仍在進行中。

Okay. Got it. And then just on Rosebel, with the higher guidance, I mean I think it's great that you're getting the benefit of that improved guidance. What I want to understand will there be any sort of adjustments upon closing as a result of that higher guidance or will IAMGOLD be able to fully benefit from that?

好的。知道了。然後就在 Rosebel 上，有了更高的指導，我的意思是我認為你能從改進的指導中獲益真是太好了。我想了解的是，由於更高的指導，關閉時是否會有任何形式的調整，或者 IAMGOLD 是否能夠從中充分受益？

So for Rosebel, the purchase price is $360 million would not be adjusted based on the agreement, but there is certain working capital adjustments that will be made based on the standard working capital. And the company also receives the cash on the balance at the time of the sale. So if there is overperformance, it could result in an increase in proceeds. In our negotiations, we have shared these forecasts with the purchaser as well. So it's in line with what they are seeing as well.

所以對於Rosebel來說，3.6億美元的收購價格不會根據協議進行調整，但是會根據標準的營運資金進行一定的營運資金調整。並且公司也收到出售時餘額上的現金。因此，如果業績超標，可能會導致收益增加。在我們的談判中，我們也與買方分享了這些預測。所以這也符合他們所看到的。

Okay. And then just going to Essakane with the CapEx now running at -- sorry for this $75 million of sustaining CapEx. And if you look into 2023 I mean and even beyond, is that kind of the correct level for maintaining that operation?

好的。然後就去 Essakane，資本支出現在正在運行——對於這 7500 萬美元的維持資本支出感到抱歉。如果你展望 2023 年，我的意思是甚至更遠，那是維持該操作的正確水平嗎？

We are currently working on the budget, Lawson, right now. I think it's too early to tell. There will be some stripping to be to be done in 2023 and 2024 for sure. But again to give you the best level of the capital for the coming years, we are actually finalizing our budgets.

我們目前正在製定預算，勞森，現在。我認為現在下結論還為時過早。肯定會在 2023 年和 2024 年進行一些剝離。但再次為您提供未來幾年的最佳資本水平，我們實際上正在最終確定我們的預算。

Okay. We'll stay tuned for that. And then just finally I'm not sure if, Maryse, you can provide any color on the search for a permanent CEO. Is there sort of any sense of timing at this point?

好的。我們將繼續關注。最後，我不確定，Maryse，你是否可以提供有關尋找永久 CEO 的任何顏色。在這一點上有什麼時機感嗎？

Well, the CEO search is active and ongoing and the Board has been conducting an extensive process because we really want to find the right candidate for the job. And I would say in terms of timing, we'd expect to be able to make an announcement before the end of the year.

好吧，CEO 搜尋工作正在積極進行中，董事會一直在進行廣泛的過程，因為我們真的很想找到合適的人選。我會說，就時間而言，我們希望能夠在今年年底之前發佈公告。

We have a follow-up question from Anita Soni with CIBC World Markets.

CIBC World Markets 的 Anita Soni 提出了後續問題。

Can I just get I guess some color, I'm sure I could probably find in the technical report if I looked, but the working capital requirements that you would have for Cote sort of leading up into the commercial production declaration early 2024. Could you give me a ballpark number of what you're looking at there?

我能猜出一些顏色嗎，我相信如果我看的話我可能會在技術報告中找到，但是你對 Cote 的營運資金要求有點導致 2024 年初的商業生產聲明。你能給我一個你在那裡看的大概數字？

The technical report does have information in there I think. What is important because it's an unincorporated joint venture, we will continue to have to fund 2 months of expenditures going forward and then each partner gets the gold credits back. So the working capital is included in the cost assumptions for the construction period, but also included in the technical report once it's in operation. So from a IAMGOLD perspective, we need to continue to fund the cash costs for the ongoing cash outflows of the project.

我認為技術報告中確實包含信息。重要的是，因為它是一家非法人合資企業，我們將繼續為未來 2 個月的支出提供資金，然後每個合作夥伴都能收回金幣。因此，營運資金包含在建設期的成本假設中，但一旦投入運營，也會包含在技術報告中。因此，從 IAMGOLD 的角度來看，我們需要繼續為項目持續現金流出的現金成本提供資金。

The next question is from Sean Wondrack with Deutsche Bank.

下一個問題來自德意志銀行的 Sean Wondrack。

Just the first question. I believe you provide a liquidity bridge on Slide 9. Your cash balance went up about $130 million quarter-over-quarter. Can you just describe what exactly drove that? Sorry if I missed it.

只是第一個問題。我相信您在幻燈片 9 上提供了一個流動性橋樑。您的現金餘額環比增加了約 1.3 億美元。你能描述一下究竟是什麼驅動了它嗎？對不起，如果我錯過了。

We drew down on our credit facility at the end of September and that was to assist us to make the cash call for Cote at the beginning of October. We also drew down a bit more and for a bit longer period to take advantage of savings in an increasing interest rate environment. So we drew down more on the facility than we needed in the short term.

我們在 9 月底動用了我們的信貸額度，這是為了幫助我們在 10 月初為 Cote 籌集現金。我們還提取了更多和更長的時間，以在利率上升的環境中利用儲蓄。因此，我們在短期內動用了比我們需要的更多的設施。

Okay. That makes sense. And then as I take a look at your income statement, it does appear that exploration and SG&A expense both came down a little bit. Is this a fair run rate to use moving forward?

好的。這就說得通了。然後，當我查看您的損益表時，勘探和 SG&A 費用確實有所下降。這是一個合理的運行率嗎？

We are working through our updated plans and budget process and we would be giving an update on that in our guidance. So I don't think we're in a position to say that that is our run rate. And we're also kind of looking at our exploration expenditures and levels based on what happens with the asset disposition of exploration assets in West Africa for example as well. So we just need to complete our assessment of our planned activities.

我們正在研究更新後的計劃和預算流程，我們將在我們的指南中對此進行更新。所以我認為我們不能說這是我們的運行率。我們也在某種程度上根據西非勘探資產的資產處置情況來研究我們的勘探支出和水平。因此，我們只需要完成對計劃活動的評估。

Understood. And then is there any concern out there around the Rosebel sale closing? Anything in particular that could slow the closing or gives you any pause with it?

明白了。那麼 Rosebel 的銷售結束是否有任何擔憂？有什麼特別的事情會減慢關閉速度或讓您停下來嗎？

At this point no, there's nothing that gives me pause. We have the normal regulatory requirements and we are proceeding through those. As a matter of fact, I'm on my way to Surinam today with the Zijin representatives to do a joint visit and it's really just about customary regulatory approvals at this point.

在這一點上，沒有，沒有什麼讓我停下來。我們有正常的監管要求，我們正在處理這些要求。事實上，我今天正和紫金代表一起去蘇里南進行聯合訪問，目前只是常規的監管審批。

This concludes the time allocated for questions. I'd like to hand the conference back over to Maryse Belanger for closing remarks.

分配給問題的時間到此結束。我想將會議交還給 Maryse Belanger 作閉幕詞。

Thank you very much, operator. And thanks to everyone for joining us this morning and for your continued engagement with IAMGOLD. As always, should you have any additional questions, please do not hesitate to reach out to myself or Graeme Jennings if you would like to set up a meeting. Thank you all and have a great day.

非常感謝你，接線員。感謝大家今天早上加入我們，並感謝您繼續與 IAMGOLD 互動。與往常一樣，如果您有任何其他問題，請隨時與我本人或 Graeme Jennings 聯繫，以便安排會面。謝謝大家，祝你有美好的一天。

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

今天的電話會議到此結束。您可以斷開線路。感謝您的參與，祝您度過愉快的一天。