Endeavour Successfully Exceeds Production Guidance

 

GEORGE TOWN - Sebastien de Montessus, President & CEO of Endeavour Mining reported, "Our strong performance across all of our mines in Q4 capped a successful year for Endeavour during which we beat our production guidance and ended with AISC lower than the guided range while maintaining a strong safety record. The first full-year contribution from Hounde, coupled with the successful management of our portfolio, have sustainably decreased our all-in sustaining costs to below our strategic target of $800/oz.

2019 is expected to be another strong year as we look forward to the first gold pour at the Ity CIL plant in early Q2, where construction continues to progress ahead of schedule and on budget. Meanwhile, we will maintain an aggressive exploration program to build on the significant success achieved thus far.

Over the past two years, we have diligently worked to transform our portfolio, investing nearly $1 billion into the business. Once Ity CIL commences production, we expect to enter a period of sustained strong free cash flow generation with a continued focus on return on capital employed. In line with this approach, we have optimized our business plans with a greater emphasis on free cash flow metrics and intend to release working capital from the available low-grade stockpiles.

2019 is a pivotal year as the efforts we have made thus far are expected to generate significant growth in 2020 and beyond - Ity CIL will benefit from a full-year's production and Hounde from the newly discovered high-grade Kari Pump deposit.”

The company’s address is 9 A, Elmshorn, Schleswig-holstein 25337.