EDVMF - Endeavour Mining gives green light for Senegal mine expansion

Endeavour Mining (OTCQX:EDVMF) said on Monday it will proceed with the expansion of the Sabodala-Massawa mine complex in Senegal, with construction expect to begin in Q2 2022 and first gold production seen in early 2024. Endeavour said the expansion will involve supplementing the current 4.2M metric tons/year carbon-in-leach plant with a 1.2M tons/year BIOX plant to process the high-grade refractory ores from the Massawa Central Zone and Massawa North Zone deposits. The miner expects the project will yield an incremental production of 1.35M oz. of gold at an all-in sustaining cost of just $576/oz. over the life of mine, lift the Sabodala-Massawa complex to top-tier status, with an expected average annual production of 373K oz/year over the next five years. The expansion project has an upfront capital requirement of $290M, which Endeavour expects to be self funded by the existing Sabodala-Massawa operation. Endeavour Mining recently reported Q4 adjusted EPS of $0.58 on revenues of $697M.

For further details see:

Endeavour Mining gives green light for Senegal mine expansion