London-listed Endeavour Mining has exceeded its production guidance for the 2021 financial year and set a new output record at 1.53-million ounces.
The company also comfortably met its all-in sustaining cost (AISC) guidance at $880/oz and has adjusted its expectation for AISC for this year to between $890/oz and $940/oz.
The company has set its production guidance for this year at between 1.4-million and 1.5-million ounces.
Meanwhile, Endeavour ended 2021 with $76-million in cash, despite absorbing $330-million worth of net debt for its Teranga subsidiary after acquisition and paying $268-million in shareholder returns during the year.
CEO and president Sebastien de Montessus says 2021 was another successful year for Endeavour, in which it delivered against all its objectives, including a shareholder returns programme and investing in exploration.
He says the company has entered this year with considerable momentum and expects to deliver another strong year.
Earlier this month, Endeavour stated that 2021 had been its strongest year for exploration yet, adding three-million ounces of measured and indicated resources to its flagship mines Ity, Houndé and Sabodala-Massawa, located in Côte d'Ivoire, Burkina Faso and Senegal, respectively.
Meanwhile, the company has confirmed that its Houndé mine operations and supply chains remain unaffected by the prevailing political situation in Burkina Faso. This follows after reported gunfire in several barracks in the country, including two in the capital Ouagadougou.
Edited by: Chanel de Bruyn
Creamer Media Senior Deputy Editor Online
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