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Endeavour Mining plc T.EDV

Alternate Symbol(s):  EDVMF

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.


TSX:EDV - Post by User

Comment by marben100on Dec 22, 2021 10:00am
269 Views
Post# 34254065

RE:Burkina Faso security

RE:Burkina Faso securitySecurity issues in BF are nothing new. A strong part of the rationale for Endeavour's takeover of Semafo was that the larger group would be more influential with government and Endeavour had better security protocols.

The threat around the Boungou mine is extreme - and Endeavour has put in place security measures to meet it, e.g. flying workers in and out, rather than using roads.

Thanks for highlighting the government resignations - I hadn't spotted that story: https://foreignpolicy.com/2021/12/15/violence-sahel-burkina-faso/

Under LSE rules, Endeavour is required to make a news release if operations are significantly affected, so it's safe to assume that they're not - at least for now.

The terrorist/instability threat in West Africa is a factor that will tend to make Endeavour's shares trade at a discount to those of miners operating in safer jurisdictions. However, it's a trade-off between the quality of resources available in West Africa vs the security and political risk. So far, Endeavour has shown itself to be well capable of managing those risks.

Cheers,
Mark
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