Name of the Project
Lafigué gold project.

Location
On the Fetekro property, in Côte d’Ivoire.

Project Owner/s
Endeavour Mining.

Project Description
Lafigué has proven and probable reserves of 49.8-million tonnes grading 1.69 g/t gold.

The Lafigué deposit is amenable to conventional openpit, drill-and-blast mining, which will be undertaken by contractors.

The openpit will be developed in six stages, with a maximum mining capacity of 55-million tonnes a year.

The mine will produce an average of 203 000 oz/y over a 12.8-year mine life.

Ore mining will occur in three to four flitches, selectively using smaller loading equipment to decrease dilution.

Diesel excavators and trucks will be used for loading and haulage, with a fleet comprising 400 t class face shovels to load 180-t-capacity dump trucks for waste mining, and 200 t class excavators to load 180-t-capacity dump trucks for ore mining.

Ore will be processed through a four-million-tonne-a-year processing plant, based on only a fresh ore feed. The operation will involve two-stage crushing followed by a high-pressure grinding roll and ball milling circuit.

New infrastructure will be added to support mining, processing and waste management on the mining licence, including 6.6 km of internal roads, a 32 km power transmission line, emergency diesel generators, and additional site facilities and accommodation for staff. In addition, space has been allocated to the north of the existing processing plant to potentially incorporate a solar power facility in the future.

Potential Job Creation
About 1 550 jobs are expected to be created during production.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate, of $664-million and an internal rate of return of 25% at a $1 500/oz gold price, with a payback of 3.9 years.

Capital Expenditure
The project has an upfront capital cost of $448-million.

Planned Start/End Date
Construction started early in the fourth quarter of 2022.

The project’s construction is on budget and ahead of schedule with operations expected to start in the second quarter of 2024, rather than the third quarter of 2024.

Latest Developments
Endeavour reported in January 2024 that construction activities were well advanced with the crushing area, ball mills, high-pressure grinding rolls installation, carbon-in-leach tanks and the elution area all nearing completion.

Process plant engineering and drafting were complete and delivery of all the project shipments more than 95% complete, with all key items on site.

Site infrastructure, including the gold room, dry screening building and conveyor truss had been pre-assembled ahead of concrete pouring, to reduce erection time, and is expected to be erected in the first half of 2024. The site camp facility is nearly completed, with the completed buildings in use since December 2023.

The 225 kV power substation is complete with the Dabakala switchyard and overhead power lines successfully energised during December 2023.

Electrical works on site are also progressing to plan with underground high-voltage cable installation advancing on schedule. Tailings storage facility (TSF) earthworks are complete and the high-density polyethylene lining of the TSF is well advanced.

Mining equipment mobilisation has advanced well, with mining activities starting during the quarter ended December 31, 2023, with about 2.9-million tonnes of material moved.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Endeavour Mining, tel +44 203 011 2723 or email info@endeavourmining.com.