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Endeavour Mining plc T.EDV

Alternate Symbol(s):  EDVMF

Endeavour Mining plc is a United Kingdom-based multi-asset gold producer focused in West Africa. The Company has five operating assets consisting of the Hounde and Mana mines in Burkina Faso, the Ity and Lafigue mines in Cote d’Ivoire, and the Sabodala-Massawa mine in Senegal, two greenfield development projects (Assafou and Kalana) in Cote d’Ivoire and Mali and a portfolio of exploration assets on the highly prospective Birimian Greenstone Belt across Burkina Faso, Cote d’Ivoire, Senegal, and Guinea. The Hounde mine is located in the northern part of the highly prospective Hounde Greenstone Belt, approximately 60 kilometers (km) south of the Mana mine. The Ity mine is located in western Cote d'Ivoire, 480 km west-northwest from Abidjan, in the prefecture of Zouan-Hounien. 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.


TSX:EDV - Post by User

Comment by marben100on Jan 14, 2021 6:27pm
311 Views
Post# 32302733

RE:RE:RE:Dividend anybody ?

RE:RE:RE:Dividend anybody ?Did no one spot this bit in the announcement?: "Following a strong performance in Q4-2020, this first dividend payment coincides with Endeavour having achieved its strategic goal of reaching a net cash position by year-end." Given that net debt at the end of Q3 was US$175m, that means at least $175m of real positive cashflow in Q4 alone. Net debt after the Teranaga merger will therefore be < $100m, allowing for the $200m La Mancha cash injection and the $60 dividend payout (but before Q1 cash generation).

Given the rate of cash generation (increased further by the TGZ merger), I expect that the $250m net cash target should be hit around the middle of this year. :0) Obviously that assumes that the gold price stays somewhere around current levels.
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