Endeavour Mining plc T.EDV

Alternate Symbol(s): EDVMF

Metals & Mining Gold

Endeavour Mining plc is a United Kingdom-based senior gold producer with operating assets across Senegal, Cote d’Ivoire and Burkina Faso. The Company has a portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa. It operates mines that include Hounde Mine, Ity Mine, Mana Mine and Sabodala-Massawa Mine. The Hounde Mine is located approximately 250 kilometers (kms) southwest of Ouagadougou, the capital city of Burkina Faso. The Hounde Mine is owned by the Company (90%) and Government of Burkina Faso (10%). It owns approximately 85% of Ity Mine, which is located 480 kms northwest of Abidjan in southern Cote d'Ivoire. The Mana Mine is located approximately 200 kms west of Ouagadougou, the capital of Burkina Faso. The Sabodala-Massawa Mine is approximately 640 kms southeast of Dakar, the capital of Senegal. It owns approximately 80% of the Lafigue project. Its other projects include Kalana, Bantou and Nabanga.

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Endeavour Mining plc

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Comment by marben100on Jun 01, 2016 10:28am

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Post# 24922880

RE:RE:Founder leaving?

I read this move as bringing Endeavour more firmly under the control of Naguib Sawiris - as de Montessus is his "man from La Mancha" (to coin a phrase! :0)). I do wonder/suspect whether there was some disagreement between Neil and Naguib, causing Neil to relinquish the previous chairing role he was expected to move into. NW was certainly well rewarded in 2015, with total compensation of $6.8m, including $3.75m as compensation for the change in control of the company.

Not sure the market will like this much - but any negative impact likely to be outweight by a nice bounce in the gold price today!

Cheers,
Mark

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