Endeavour Mining plc T.EDV

Q1 Results

[marben100]

Look quite decent - and EDV looks incredibly cheap against a quarterly operating cashflow of $1.28/share.

Teranga debt taken on (and repaid) was higher than I expected at $443m+$50m to settle a Teranaga offtake agreement. I hope that latter figure is a full and final settlement and not any sort of ongoing cost! [should deduct $27m of cash also acquired with Teranga]. Don't understand how the $332m Teranaga net debt figure, also quoted in the results release, arises given the foregoing figures.

I will also be asking management why they're keeping a cash pile of $868m whilst having $700m drawn on the corporate loan facility.

[marben100]

Watching presentation: $13m of shares bought back in Q2 so far.

[marben100]

Asked management about the large cash pile. Response was that since the quarter end they have paid down $150m of the RCF. Post the London listing Endeavour will be looking at a more comprehensive refinancing package and "cleaning up the balance sheet". During the Q&A it was pointed out that Endeavour was positioning as the "new Randgold" but that whereas Randgold traded

[mercedesman]

Thx for your queries and for reporting the responses here. At the risk of sounding like a certain ignored poster, Sebastian has a ways to go before he could be considered an industry star (maybe personality is a better word)  like Mark... However... I have belieived for some time that Endeavour will become the next Rangold of Africa.  I thnk the style will be different.  More

[marben100]

Very much agree MM - and Sebastien himself acknowledged that he and the company aren't there yet but are seeking to build that reputation. Whilst my CFD positions are relatively short-term (speculating on the impact of the London listing, I'm prepared to sit with my core holding for the long-term as the company executes and build. Unlike some investors, I prefer to get my exposure to the

[Nickphil]

The same strategy here. Holding high-quality dividend-paying producers and holding them for the long run.  Endeavor,  Polyus, Polymetal, and Newmont are my greatest positions.  Curious how many of them are in common.   In the case of the physical metal, I think the Sovereign coin is the best exposure since it broadly recognized and is suitable for smaller transactions in