Endeavour looks forward to an ‘even stronger’ fourth-quarter performance

Endeavour Mining's Ity mine in Côte d’Ivoire

Endeavour Mining's Ity mine in Côte d’Ivoire

9th November 2023

By: Creamer Media Reporter


Font size: - +

London- and Toronto-listed Endeavour Mining delivered its strongest quarterly performance this year in the third quarter ended September 30, producing 281 000 oz at an all-in sustaining cost (AISC) of $967/oz.

“On the operational front, in light of the efforts made over the first half of the year, our third quarter saw the strongest performance so far this year, and we expect the fourth-quarter performance to be even stronger, which positions us well to meet full-year production guidance for the eleventh consecutive year and maintain our status as one of the lowest cost gold producers in the sector,” president and CEO Sebastien de Montessus says.

The company’s mines in Burkina Faso and Côte d’Ivoire delivered a combined 792 000 oz of gold for the nine months to September 30.

Endeavour expects to meet its full-year guidance of between 1.06-million and 1.14-million ounces of gold at an AISC of between $895/oz and $950/oz.

Revenue increased to $530-million in the third quarter, on the back of higher gold sales, while adjusted net earnings for continuing operations increased to $69.5-million.

The gold miner reports that its growth projects also remain on track, with capital expenditure (capex) of $292.5-million spent in the year-to-date out of planned capex of $400-million for the full year.

“Looking ahead, we expect 2024 to be a strong year for Endeavour, as the brownfield expansion of Sabodala-Massawa and the Lafigué development project both remain on budget and on track to be commissioned next year,” De Montessus says.

The Sabodala-Massawa expansion is due to start up in the second quarter of next year and the Lafigué project in the third quarter.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online



SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...


Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?







sq:0.211 0.245s - 90pq - 2rq
1: United States
Subscribe Now
2: United States