Endeavour Mining plc T.EDV

RE:RE:New Press Release - Endeavour Reports Q2-2024 Results

[1966Mustang]

EDV is my worst performer too, other than Victoria Gold.  These are part of a basket of gold stocks though so neither of these poor performers are the end of the world.  My attitude is to keep dollar cost averaging all of them, enjoying the ride, and I am banking on EDV to do some derious catch up as gold rises over the years. 

If EDV is causing you stress you shoud sell so that you can sleep at night IMO.  It looks like EDV will be buying back and paying out even more than before so don't expect the EPS to sky rocket any time soon. 

I think that it is time that you move on galnakon, don't you?  For your own sake, and for the love of your sanity, sell EDV, buy something you like, and then smell the summer flowers.  Life is too short bud. Whiners are losers.

Here is to better luck with your choices.

By Christian Moess Laursen

Endeavour Mining plans to increase its shareholder payout for this year and the next as it moves to focus more heavily on cash generation to capitalize on high gold prices.

The London- and Toronto-listed gold miner outlined Wednesday a new shareholder returns policy as it moves away from a focus on investments.

It now plans to pay a minimum dividend of $210 million and $225 million in 2024 and 2025, respectively, supplementing additional dividends and share buybacks, as long as the gold price remains at least $1,850 an ounce, it said.

Its previous returns program included a minimum dividend of $125 million, $150 million and $175 million for 2021, 2022 and 2023, respectively.

As part of its focus on improving current operations, it appointed Djaria Traore as executive vice president of operations and ESG and Martin White as vice president and chief technical officer.

Both will assume the duties of Mark Morcombe, current executive vice president and chief operating officer, who is leaving the company after five years.

Meanwhile, Morgan Carroll--currently executive vice president of corporate finance--was named executive vice president and chief commercial officer.

The changes will take effect Thursday.

Gold prices have surged nearly 19% this year amid rate-cut hopes and safe-haven demand, currently sitting at around $2,462 an ounce.

This provided a boon to Endeavour's second-quarter results, as the West Africa-focused miner delivered higher volumes of gold sales after digging out 15% more gold in the quarter compared with the first quarter.