Endeavour Mining plc T.EDV

Endeavour trucks attacked: 6 killed

[marben100]

See this from Reuters

Unidentified armed men killed six gendarmes and wounded seven others in an attack on a convoy of vehicles returning from a gold mine owned by Endeavor Mining in the east of the country, authorities said on Monday.

 

The convoy of empty fuel trucks the gendarmes were protecting was ambushed at around 13:30 GMT on Sunday on a stretch of road between Sakoani and Matiacoali, Burkina Faso's gendarmerie said in a statement...

...The tankers were travelling from Boungou mine, which is owned and operated by London and Toronto-listed Endeavour Mining.

Sad to see. I expect EDV will have to make an announcement. This news explains why EDV stock is down today.

Mark

[mercedesman]

Yes.  Sad to see. The Boungou Mine is the old Semafo mine that has had a history of trouble. Hopefully Endeavour and the entire mining industry can impress upon the Governemt of BF that they need a strong military presence & response in order to protect the entire industry (and the tax revenues it provides)...especially towards the east end of the country. Fortunately most of EDV's

[marben100]

Yup. Fortunately Boungou represented < 10% of Q2 production. Any former Semafo shareholders should be rather pleased that they're benefitting from a much more diverse mine portfolio now - their stock would have been hammered by this news, far more than EDV's has been.

[mercedesman]

You just never know with country risk and diversification. Secretly I was bummed that the proposed Centamin takeover (with a prolific mine in Egypt) by EDV fell through a while ago...thinking more country diversification would be a good thing for EDV. But then Centamin had operational issues with their mine. Their stock had a high of $ 3.66 In August 2020, and now trades at $ 1.67.   

[marben100]

Good news! In the absence of a statement from Endeavour I reached out to their investor relations to ask about this incident. They have now provided a very comprehensive response. Most importantly, no Endeavour staff or contractors were injured in this incident, which appears to have been targeted specifically against Burkinabe security forces. Boungou operations are unaffected. I have