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Endeavour Mining: A shining West-Africa gold producer

Last updated: 03:27 05 Mar 2024 EST, First published: 11:00 24 Mar 2021 EDT

Snapshot

  • Endeavour and Fresnillo well bid as gold hits record highs
  • Endeavour’s huge gold discovery at Tanda-Iguela shines a spotlight on Cote D’Ivoire
  • Endeavour Mining gets double upgrade after management shock
  • Endeavour Mining Exploration EVP lays out plans for Tanda-Iguela
Endeavour Mining Corp -

About the company

Endeavour Mining PLC is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Cote d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa. A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour is listed on the London and Toronto Stock Exchanges, under the symbol EDV.

How it is doing

05 Mar 2024

Precious metals stocks were bid higher in early trade as the spot gold price continued to hover around its all-time high at $2,119 (up $5.50), driven by hopes of a US interest rate cut this summer after disappointing economic data.

The surge, reaching new peaks after weeks of steady gains, reflects investor optimism for the Federal Reserve's potential rate reduction in June.

This optimism, along with ongoing geopolitical and economic uncertainties, has bolstered gold's appeal as a safe-haven asset.

Despite traditional challenges in high-interest-rate environments, falling Treasury yields and a weaker dollar have made gold more attractive.

27 Feb 2024

Endeavour Mining said wet commissioning has started at the Sabodala-Massawa Expansion Project in Senegal with the first gold pour expected in early May.

In 2024, the operation is expected to produce between 360-400koz of gold at all-in-sustaining costs of between US$750-850/oz.

22 Jan 2024

Endeavour Mining expects production in the current year (2024) to rise by around 18% due to an expansion of the Sabodala-Massawa mine and the new Lafique project coming on stream.

Production from ongoing mines totalled 1.07m oz of gold in 2023, said the Africa-focused miner, with the fourth-quarter output flat at 280,000oz.

Insight: Endeavour’s huge gold discovery at Tanda-Iguela shines a spotlight on Cote...

07 Dec 2022

The mining spotlight fell again on Cote D’Ivoire last week, after Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF), the West African gold mining specialist, announced a three million ounce discovery there at its Tanda-Iguela property.

It’s not the first big discovery to be made in Ivory Coast.

What the brokers say

25 Jan 2024

Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) has received a double upgrade from analysts at Liberum, who rate the business’s new chief executive highly enough to predict the gold producer will continue its recent good run.

Liberum believes a Trump re-election in the US will result in elevated global war and trade tensions, with associated inflation risk, and make the gold mining sector even more of a hot bed of M&A.

Endeavour Mining is likely to remain in the spotlight, having fallen sharply following the shock termination of Sébastien de Montessus as chief executive, but the broker sees the likelihood of a bid as low.

What management says

07 Dec 2023

Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) Executive Vice President of Exploration Jono Lawrence visits the Proactive London studio to speak with Thomas Warner about the top-10 global gold producer's exploration efforts.

Endeavour operates four mines across Senegal, Côte d'Ivoire, and Burkina Faso. The Tanda-Iguela property in Côte d’Ivoire continues to be Endeavour’s largest exploration focus, with over 226km of drilling completed on the property since late 2021, 168km of which has been completed during YTD 2023.

Lawrence gives more detail about progress as Tanda-Iguela, where a 303% increase in indicated ounces led to a significant 4.5 million ounce yield. This achievement is part of Endeavour's strategy to establish tier-one assets and expand its exploration portfolio. He says that a key factor in Endeavour's rapid progress is its ability to mobilize resources quickly, thanks to its extensive network in West Africa.

Endeavour Mining Exploration EVP lays out plans for Tanda-Iguela

Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) Executive Vice President of Exploration Jono Lawrence visits the Proactive London studio to speak with Thomas Warner about the top-10 global gold producer's exploration efforts. Endeavour operates four mines across Senegal, Côte d'Ivoire,...

on 12/07/2023