Endeavour Mining Corporation
Endeavour Mining Corporation
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West African producer Endeavour Mining has achieved its 10th consecutive year of achieving or beating guidance, producing 1.4Moz gold at AISC of about $US928/oz for FY2022.
The result compares with 1.436Moz at $882/oz a year earlier and its guidance of 1.32-1.4Moz at $880-930/oz.
President-CEO Sebastien de Montessus says its strong production performance and optimisation initiatives kept its costs on guidance despite the industry-wide inflationary pressures. Endeavour ended the year with net cash of $121M ($76M).
Mali's transitional government has signed into law the establishment of state-owned mining company Société de Recherche et d'Exploitation Minière du Mali, aiming to increase its resources sector revenue.
"The Malian state is going to enter the mining sector, there is space for everyone," mines ministry secretary-general Soussourou Dembelé told Reuters.
Sorem SA will be fully funded by the state to explore and develop mines, although no details have been released on the value or likely projects.
West African-focused producer Endeavour Mining will conduct a comprehensive internal investigation into the death of a contractor of injuries suffered during blasting at its 85%-owned Ity openpit gold mine in Côte d’Ivoire.
Mining operations were temporarily halted following the incident, but have now resumed. Processing activities continued.
West African gold producer Endeavour Mining has named Australian engineer Lycopodium to provide engineering and procurement plus project management services for its Sabodala-Massawa expansion project in Senegal.
The expansion will supplement the current 4.2Mtpa CIL operation of Senegal's largest producing gold mine, with a 1.2Mtpa BIOX plant to process high-grade refractory ores from the Massawa deposits and raise average production to 373,000ozpa at AISC of $745/oz over 5 years.
Six people have been killed and two more wounded in an attack by unidentified gunmen on a convoy from Endeavour Mining’s Boungou gold mine in eastern Burkina Faso.
An army statement said the attack was targeted at a relief column of five support vehicles who were sent to the aid of the main convoy, which had been stuck in mud for several days, Reuters reported. The attack began after the vehicles became separated from a security detail.
Endeavour Mining expects to begin construction of its Sabodala-Massawa gold operation expansion in Senegal in Q2 22 to supplement the current 4.2Mtpa carbon-in-leach plant with a 1.2Mtpa BIOX® plant to process high-grade refractory ores from the Massawa Central Zone and Massawa North Zone deposits.
West Africa-focused gold miner Endeavour Mining has lifted its Dec 2022 year (FY/CY 22) net profit to $US221M, up 130% on the previous year, on record production of 1.53Moz, well up on the previous year’s 908,000oz.
The result was on a string of successes, including adjusted net earnings up 79% to $577M, EBITDA up 115% to $1,139M, adjusted EBITDA to $1,506M, up 95%, and operating cash Flow 65% better to $1,175M.
International miners active in Burkina Faso say they are closely monitoring the evolving political situation in the West African country following the Jan 24 military coup that toppled President Roch Kaboré.
Like others, Canadian miner IAMGOLD says its long-lived 90%-owned Essakane mine 330km NE of Ouagadougou is continuing to operate unaffected, personnel are safe and its supply chains have not been impacted.
West Africa-focused gold miner Endeavour Mining has posted record production for the Dec 2021 year (FY/CY 21) of 1.53Moz, well up on the previous year’s 908,000oz, meeting or exceeding guidance for the 9th consecutive year.
West Africa-focused gold miner Endeavour Mining has had a good June 2021 qtr (Q2 21) with net earnings jumping to $US127M from Q1 21’s $87M on gold production up to 409,000oz from 347,000oz and nicely on track to meet top half FY/CY 21 guidance of 1.36Moz-1.49Moz at AISC $850oz-$900oz.