Photo by: Duane Daws
PERTH (miningweekly.com) – Dual-listed gold miner Endeavour Mining has reported a solid third quarter of production, with the miner telling shareholders on Wednesday that it was near 83% along the road to achieving its full-year production guidance of between 400 000 oz and 440 000 oz of gold
During the three months to September, Endeavour produced 117 612 oz of gold, which was slightly below the 122 517 oz produced in the June quarter.
The Agbaou mine, in Cote d’Ivoire, delivered 43 428 oz of gold during the quarter under review, while the Youga mine, in Burkina Faso, delivered 18 432 oz. The Tabakoto mine delivered 30 866 oz, while Nzema, in Ghana, delivered 24 886 oz.
CEO Neil Woodyer pointed out that on a year-to-date basis, the Agbaou, Nzema and Youga mines were all ahead of their mid-point production guidance, while the Tabakoto mine was behind its full-year production target, and would be the company’s focus during the ongoing ramp-up of the Segala underground mine.
“With the above-guidance production performance of the group so far this year, we expect to exceed the upper-end of our gold production guidance range in 2014,” Woodyer said.
The company was expected to deliver its cash cost results for the quarter by mid-November, but Woodyer said that it was expected that group all-in sustaining costs would be similar to those achieved in the second quarter.