First gold expected in late-June * Project ahead of schedule and on budget * 94% project completion HIGHLIGHTS:
- Wet commissioning of the processing plant is now underway with overall construction activities 94% complete
- Project remains on budget with first gold pour expected in late-June; a quarter earlier than initially scheduled
- Ore stockpiles stand at 1.6Mt at 1.30g/t gold for 65koz, with over 14.4Mt of material mined since Q4-2023
- Lafigue is expected to produce between 90-110koz of gold at a sector leading AISC of between
- 92% national workforce on site with over 10% of the workforce from the local community
Lafigue is a great example of our strong track record of organic value creation. The project was discovered through our own ambitious exploration programme for a cost of
With the commissioning of the Lafigue project now underway and first gold production at the Sabodala-Massawa BIOX® expansion achieved in early Q2 this year, Endeavour is well positioned to successfully execute its growth strategy, completing the current phase of investment, and transitioning to a more cash flow generative phase. We will continue to support our operations, optimisation initiatives and exploration, while we re-focus our capital allocation priorities on de-levering our balance sheet and increasing our commitment to shareholder returns."
Wet commissioning of the crushing, milling and CIL circuits at the Lafigue processing plant are underway, with first ore delivered to the crushing and milling circuits on 24 May. Mining equipment mobilisation has fully advanced and mining activities continue to accelerate according to schedule with 14.4Mt of material moved since mining activities commenced in Q4-2023. Ore stockpiles currently stand at 1.6Mt of ore grading 1.30 g/t gold containing 65koz.
Initial growth capital expenditure for the project is
The addition of the Lafigue mine to Endeavour's portfolio, is expected to add average annual production of 203koz at an AISC of
Endeavour remains focussed on building local talent, and during the project construction, up to 3,000 employees and contractors were on site, 92% of whom were Ivorian nationals, with over 10% from the local community. Endeavour launched a partnership with the
ABOUT THE LAFIGUÉ PROJECT
The Lafigue permit is located towards the northern end of the Birimian aged Oume-Fetekro greenstone belt, in north-central
Endeavour began exploration on the Fetekro property in
Construction of the Lafigue project in
As at
Given the strong exploration potential, Endeavour is targeting the discovery of 1.5 - 2.0 Moz of Indicated resources across the Lafigue mining permit and the wider Fetekro exploration permit area over the 2021 to 2025 period at a discovery cost of
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Endeavour Mining is one of the world's senior gold producers and the largest in
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For more information, please visit www.endeavourmining.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements, other than statements of historical fact, are "forward-looking statements". Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", and "anticipates".
Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to international operations; risks related to general economic conditions and credit availability, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Endeavour operates. Although Endeavour has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Please refer to Endeavour's most recent Annual Information Form filed under its profile at www.sedar.com for further information respecting the risks affecting Endeavour and its business.
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