Endeavour Mining plc T.EDV

Endeavour to Launch Expansion of Sabodala-Massawa

[Betteryear2]

HIGHLIGHTS:

• Robust DFS economics support the expansion of Sabodala-Massawa by supplementing the current 4.2Mtpa CIL plant with a 1.2Mtpa BIOX® plant to process the high-grade refractory ore from the Massawa deposits
• Expansion is expected to yield incremental production of 1.35Moz at a low AISC of $576/oz over the life of the BIOX® Expansion Project
• Lifts Sabodala-Massawa to top tier status with an expected average annual production of 373koz per year over the next 5 years at an average AISC of $745/oz
• Low-capex intensive brownfield expansion given upfront capital requirement of $290m, expected to be self funded by the existing Sabodala-Massawa operation
• Robust after-tax IRR of 72% and NPV5% of $861m with a quick 1.4-year payback period, as the expansion generates $200m of incremental annual free cash flow during its first 5 years, at $1,700/oz gold
• Construction will commence in Q2-2022 with first gold pour from the BIOX® plant expected in early 2024
• Significant upside potential as the DFS does not include the conversion of the previously announced discovery of 709koz of M&I resources
• Endeavour remains on track to discover its target of 2.3Moz to 2.7Moz of Indicated resources at Sabodala-Massawa over the 2021-2025 period

London, 4 April, 2022 Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) ("Endeavour" or the "Group" or the "Company") is pleased to announce that it will soon launch the construction of its Sabodala-Massawa expansion in Senegal, supported by the recently completed Definitive-Feasibility Study (“DFS”).

Endeavour to Launch Expansion of Sabodala-Massawa; DFS Confirms Its Potential to Become Top Tier Gold Mine

 

 

[marben100]

Whilst this is not quite as good as I had been hoping for (was hoping for closer to 500koz), the London market seems happy, with the shares currently up 5% on volume of ~150k shares traded, so far. Hope Canada is equally happy & doesn't knock the price back once the Toronto market opens. Cheers, Mark

[galnakon]

Unfortunately, EDV.L has lost -5.4% frn its high of the day. I guess the sellers will put the price in the red.

[galnakon]

Great news for the company and gold up. Still the stock close in the red. Just hopeless.

[RONNIE111]

Pretty obvious now that someone, some fund, my bet being Blackrock, is selling a large %  of their holding.  They do it on the TSX.  And they are mostly doing it on positive days for gold, or EDV, so that they can sell at around the present price.  And they only sell what the market will take up without the price dropping much.   At some point they will be done with

[theCurse]

I nibbled a bit today.  Missed the sub 30 last week but probably just impatient.  Started adding back to my explorer last week (MOZ) as i have mentioned on this board, i look at this guy "Jack Chan"...he finally gave the green light to gold.  I think his normal signals said as much weeks ago but hesitant to call because of geopolitical reasons.   His signals

[galnakon]

Completely agree. Very obvious. Another day, another red day. EDV.TO is now in the red, while gold is running higher and GDX +1.7%. What a shame.