EDVMF - Endeavour Mining Non-GAAP EPS of $0.88 revenue of $1B

2023-08-02 03:07:15 ET

• Endeavour Mining press release ( OTCQX:EDVMF ): 1H Non-GAAP EPS of $0.88.
• Revenue of $1B (-9.1% Y/Y), due to a decrease in gold sales from 583koz in H1-2022 to 521koz in H1-2023 lower gold sales volumes, partly offset by a higher realised gold price for H1-2023 of $1,923 per ounce compared to $1,870 per ounce for H1-2022.
• Royalties decreased from $64.7 million in H1-2022 to $61.5 million in H1-2023 due to lower gold sales.
• Exploration costs increased from $15.1 million in H1-2022 to $27.0 million in H1-2023 largely due to the increased expense at the Tanda-Iguela property, which was discovered in Q4-2022.
• Net comprehensive earnings from continuing operations decreased by $37.6 million from $154.2 million in H1-2022 to $116.6 million in H1-2023. The decrease in earnings is largely driven by lower earnings from mine operations due to lower production at the Houndé and Mana mines and higher operating expenses.

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