Endeavour Mining (TSE:EDV)

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Re: Endeavour Mining (TSE:EDV)

Postby Pixel8r » Thu Sep 20, 2012 7:54 pm » Safari 6.0 Safari 6.0  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

Capitalist_Pig wrote:I was a mouseclick away from buying, but then remembered to do something sensible first, and give the financials the once over -

(b) On December 16, 2008 the Corporation was notified of a claim filed against it by Gold
Reserve Inc. (“Gold Reserve”) in the Ontario Superior Court of Justice. Gold Reserve’s
claim against the Corporation arises out of an Advisory Agreement pursuant to which the
Corporation agreed to provide financial advisory services to Gold Reserve...

Does this make any difference to you CP. I still think they are an even more interesting buy currently, check out the production.

Image

Endeavour Mining Announces Full And Final Settlement With Gold Reserve

Vancouver, September 20, 2012 -- Endeavour Mining Corporation ("Endeavour") (TSX:EDV, ASX:EVR, OTCQX:EDVMF) reported today that it has reached a settlement agreement with Gold Reserve Inc. ("Gold Reserve") (TSXV:GRZ) whereby, in exchange for a full and final settlement of all the claims between the parties and without any admission as to liability, Endeavour will pay CAD$1.5 million to Gold Reserve.

On December 16, 2008 Gold Reserve brought a claim for US$500 million in damages, in addition to US$50 million in punitive damages, against Endeavour's financial advisory business and a co-defendant. Endeavour filed a statement of defence and counterclaim on August 19, 2009. On June 16, 2010, Gold Reserve amended the Statement of Claim and reduced the damages claimed against the defendants to US$150 million plus US$50 million in punitive damages. Endeavour sold its financial advisory business at the end of 2011.
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Re: Endeavour Mining (TSE:EDV)

Postby Capitalist_Pig » Fri Sep 21, 2012 5:34 pm » Google Chrome 21.0.118 Google Chrome 21.0.118  Windows Seven 64 bits Windows Seven 64 bits  Screen Resolution: 1152 x 864 1152 x 864

I realize now why I couldn't buy. Something was stopping me. I was finding any excuse not to buy ... The chart was not acting right. Just a volatile sideways drift.

I will watch it closely. I would rather buy at $2.25, than at $1.80.

I put the money into Ghana bases Golden Star Resources (GSS). More than happy with the performance.
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Re: Endeavour Mining (TSE:EDV)

Postby Ziknik » Thu Sep 27, 2012 12:39 pm » Opera 12.00 Opera 12.00  Linux Linux  Screen Resolution: 480 x 762 480 x 762

When are we (EDV) voting on the AVR takeover?

As an AVR shareholder, I was emailed a notification to vote - but I've already sold my AVR and can't use the voting form
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Re: Endeavour Mining (TSE:EDV)

Postby Pixel8r » Thu Sep 27, 2012 1:16 pm » Safari 6.0.1 Safari 6.0.1  Mac OS X Mac OS X  Screen Resolution: 1920 x 1200 1920 x 1200

Ziknik wrote:When are we (EDV) voting on the AVR takeover?

As an AVR shareholder, I was emailed a notification to vote - but I've already sold my AVR and can't use the voting form

The two shareholder meetings are expected to occur on or about October 12, 2012
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Re: Endeavour Mining (TSE:EDV)

Postby Ziknik » Thu Sep 27, 2012 9:38 pm » Opera 12.01 Opera 12.01  Windows Seven 64 bits Windows Seven 64 bits  Screen Resolution: 1600 x 900 1600 x 900

Pixel8r wrote:The two shareholder meetings are expected to occur on or about October 12, 2012

Have you had a voting notification? If not, please let me know if you get one. I've not had anything from EDV yet. I will be voting YES if I get a chance.
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Re: Endeavour Mining (TSE:EDV)

Postby Pixel8r » Fri Sep 28, 2012 9:39 am » Safari Mobile 6.0 Safari Mobile 6.0  iPhone iPhone  Screen Resolution: 320 x 568 320 x 568

Ziknik wrote:
Pixel8r wrote:The two shareholder meetings are expected to occur on or about October 12, 2012

Have you had a voting notification? If not, please let me know if you get one. I've not had anything from EDV yet. I will be voting YES if I get a chance.

As it is a Canadian stock in an ISA I can't vote :(
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Re: Endeavour Mining (TSE:EDV)

Postby Ziknik » Fri Sep 28, 2012 2:51 pm » Opera 12.00 Opera 12.00  Linux Linux  Screen Resolution: 480 x 762 480 x 762

Pixel8r wrote:
Ziknik wrote:
Pixel8r wrote:The two shareholder meetings are expected to occur on or about October 12, 2012

Have you had a voting notification? If not, please let me know if you get one. I've not had anything from EDV yet. I will be voting YES if I get a chance.

As it is a Canadian stock in an ISA I can't vote :(

My shares are also in an ISA :(
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Re: Endeavour Mining (TSE:EDV)

Postby Ziknik » Wed Oct 17, 2012 9:59 pm » Opera 12.10 Opera 12.10  Linux Linux  Screen Resolution: 480 x 762 480 x 762

Deal done

www.equities.com/news/headline-story?dt ... t=material

Endeavour Mining Corporation ("Endeavour") (TSX:EDV, ASX:EVR, OTCQX:EDVMF) announces shareholder approval for the acquisition of Avion Gold Corporation ("Avion") (TSX:AVR, QTCQX:AVGCF) announced on August 7, 2012. Endeavour held a special meeting of its shareholders earlier today and 93.8% of the votes cast were in favour of the resolution approving the acquisition.

Avion also held a special meeting of its securityholders today and 99.5% of the votes cast were in favour of the acquisition by Endeavour. The acquisition is expected to complete on or about 18 October, 2012 (subject to final court approval and other customary closing conditions) and will result in Avion becoming a subsidiary of Endeavour.
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Re: Endeavour Mining (TSE:EDV)

Postby Pixel8r » Sat Nov 10, 2012 10:37 am » Safari 6.0.1 Safari 6.0.1  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

Endeavour Mining are progressing to become a mid tier miner, which should bring a higher valuation that mid tier miners attract. Here is a link to their latest presentation PDF and a couple of interesting charts from it.

Canaccord Genuity Natural Resources Conference, Oct. 16, 2012

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Re: Endeavour Mining (TSE:EDV)

Postby Capitalist_Pig » Tue Nov 13, 2012 11:23 am » Internet Explorer 8 Internet Explorer 8  Windows Seven 64 bits Windows Seven 64 bits  Screen Resolution: 1317 x 823 1317 x 823

Something which struck me, is that there is 32.5million Warrants with a strike price of $2.50, expiring February 14th 2013.

For Net proceeds of $86million.

I do not think it is any coincidence the stock see's heavy selling around $2.5.
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Re: Endeavour Mining (TSE:EDV)

Postby Pixel8r » Wed Nov 14, 2012 10:11 pm » Safari 6.0.1 Safari 6.0.1  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

Endeavour Mining Reports Q3 Gold Production of 49,468 Ozs and $40.7 Million of Operating Cashflow

Vancouver, November 14, 2012 - Endeavour Mining Corporation ("Endeavour" or the "Corporation") (TSX:EDV, ASX:EVR, OTCQX:EDVMF) announces strong financial and operational results for the third quarter of 2012, including operating cash flow from Youga and Nzema mine operations of $40.7 million and production of 49,468 ounces of gold. The third quarter results do not include results from the Tabakoto mine, acquired via the Avion transaction subsequent to quarter end.

Neil Woodyer, CEO, stated

    "Our Nzema and Youga mines have delivered another strong quarter of production and cash flow, with our 9 month production totaling over 152,000 ounces and generating $121 million of operating cash flow. Now that we have completed the Avion acquisition and added a third mine, Tabakoto, our full year 2012 gold production is expected to be approximately 300,000 ounces and our growth pipeline has expanded. We plan to complete the Tabakoto mill expansion during the first half of 2013, which is expected to increase Tabakoto gold production to approximately 150,000 ounces per year. In addition, Agbaou has achieved its first construction milestone as concrete pouring began this month. The Agbaou mine is on schedule to contribute an additional 100,000 ounces per year from early 2014."

(All amounts in US dollars unless otherwise indicated)

Q3/Nine months 2012 Financial and Operational Highlights

  • Gold production at Youga and Nzema totaled 49,468 ounces for the third quarter and a total of 152,159 ounces were produced during the nine months ended September 2012
  • Total cash cost1 (excluding royalties) was $644 per ounce produced at Youga and Nzema for the third quarter and for the nine months ended September 2012 was $667 per ounce
  • Operating cash flow from Youga and Nzema mine operations was $40.7 million for the third quarter and totaled $121.2 million for the nine months ended September 2012
  • Youga and Nzema remain on target to deliver full year production of approximately 200,000 ounces within total cash cost1 guidance of $670 to $690 per ounce (cost guidance excludes production from Nzema purchased ore which has a cash cost of approximately 58% of spot gold price).
  • Adjusted net earnings were $18.4 million or $0.08 per share for the third quarter
  • During the nine months ended September 30, 2012, the Corporation invested $61.9 million from its operating cash flow into its operations and exploration programs. Of this, $54.9 million was capitalized and $7.0 million was expensed as exploration. These investments in operational improvements and growth include:

    • Sustaining capital at Nzema: $7.4 million
    • Sustaining capital at Youga: $2.2 million
    • Development capital at Nzema: $13.1 million
    • Nzema & Youga "near-mine" exploration: $11.6 million
    • Nzema sulphides project: $5.3 million
    • Agbaou feasibility study (completed June 2012): $4.5 million
    • Agbaou 2012 "near-pit design" exploration: $4.0 million
    • Agbaou construction spending: $9.4 million
    • Regional exploration: $4.3 million
  • At September 30, 2012, the Corporation had cash & equivalents and marketable securities of $130.5 million, which includes $100 million drawn from the $200 million corporate debt facility.
  • Production from the newly acquired Tabakoto mine will be included in Endeavour's fourth quarter results for the operating period of October 18, 2012 to December 31, 2012.
...
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Re: Endeavour Mining (TSE:EDV)

Postby Pixel8r » Wed Nov 14, 2012 10:41 pm » Safari 6.0.1 Safari 6.0.1  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

Earnings per share in Q3 $0.08, production from Tabakoto being included in Q4 almost doubling current 2012 production from 152,159 to 300,000.

EDV is trading at an amazing P/E. Taking Q3 eps as full year puts them on PE of 6.78, going to be amazing when Tabakoto production gets included in Q4. :D
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Re: Endeavour Mining (TSE:EDV)

Postby Pixel8r » Tue Jan 22, 2013 3:09 pm » Safari 6.0.2 Safari 6.0.2  Mac OS X Mac OS X  Screen Resolution: 1920 x 1200 1920 x 1200

Endeavour exceeding expectations again, I wonder how long it is going to take before mr market wakes up to this well managed company. Good to see that they have cleared the hedge positions acquired from the companies bought. :clap:

Endeavour Mining Delivers 310,000 Oz Gold Production Exceeding 2012 Guidance And Provides 2013 Forecast

Vancouver, January 22, 2013 - Endeavour Mining Corporation ("Endeavour" or the "Corporation") (TSX:EDV, ASX:EVR, OTCQX:EDVMF) announces total annual production for 2012 of 310,778 ounces of gold exceeding the 2012 production guidance range of 282,000 to 304,000 ounces. For 2013, Endeavour expects gold production in the range of 310,000 to 345,000 ounces at a cash cost per ounce (excluding royalties) of $790 to $830, with all gold sold at spot prices due to recent de-hedging transactions. Additional near-term production growth of over 100,000 ozs per year is expected from the Agbaou Gold Mine which is currently in construction (Q1 2014 completion). A recently completed Preliminary Economic Assessment (PEA) shows potential for 160,000 ozs per year from the Houndé Gold Project (Burkina Faso) in 2016.

(All amounts in US dollars unless otherwise indicated)
Neil Woodyer, CEO, stated

"2012 was a strong year of growth for your company. We continued to increase the scale of the business with the successful acquisition of Avion in October 2012, and we delivered above guidance gold production for the quarter and the year.

Agbaou construction is on schedule for completion in Q1 2014 with commitments to date on-track at 46% of budget. Expansion of the Tabakoto mill is progressing on schedule for completion by the end of Q1 2013, with ramp-up in the following quarter.

We are also pleased to be rapidly advancing the Houndé Gold Project with a significant increase in the Indicated mineral resource to 1.46 million ounces and Inferred mineral resource of 749,000 ounces, the positive PEA announced today, and the anticipated completion of a Feasibility Study led by Lycopodium in Q4 2013.

Endeavour is now producing gold at a rate of over 300,000 ounces per year from three mines - a significant increase compared to 82,400 ounces produced from only one mine in 2010. The expansion of Tabakoto and start of production at Agbaou are anticipated to add an additional approximately 150,000 ounces per year, with Houndé potentially adding a further 160,000 ounces of production per year, bringing Endeavour to over 550,000 ounces from five mines in 2016.

During 2013 we will be focused on realizing this growth from our existing assets with a $195 million capital program, and $32 million of exploration and feasibility study programs. In addition to Agbaou construction, the Tabakoto expansion, and the capital needs of Nzema and Youga, this will include the completion of a cost reduction and profit improvement plan at Tabakoto, completion of the access development at Segala, and focused exploration on Tabakoto and Kofi.

We anticipate that, at current market prices, we can fund our planned capital expenditure program over the next 3 to 4 years, including Houndé, from current financial resources. In view of changing market conditions, and changes and updates to our project development and implementation plans as they evolve and mature, we must maintain our financial flexibility and liquidity. We believe that this can and should be achieved by expanding our bank credit facilities rather than accessing the equity markets.

We have also maximized the company's exposure to the gold price in 2013 by eliminating the 2013 hedge positions at Tabakoto and Nzema in December 2012."
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Re: Endeavour Mining (TSE:EDV)

Postby Pixel8r » Sat Feb 23, 2013 12:11 am » Safari 6.0.2 Safari 6.0.2  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

Gold producer Endeavour flags plans to pay dividends in gold

BY:PAUL GARVEY From: The Australian February 07, 2013 2:30PM

DUAL-LISTED gold producer Endeavour Mining Corp has flagged a radical plan to pay dividends in the form of gold rather than cash, as the company looks for ways to buck the underperformance plaguing gold equities.

Endeavour chief executive Neil Woodyer told The Australian on the sidelines of the Mining Indaba forum in Cape Town that the move to offer physical gold could help bridge the gap in performance between the gold price and gold stocks.

“We can’t pay a dividend while we’re borrowing money, but when we do, we will pay it in gold,” Mr Woodyer said. “People will love it. They could take it in cash if they wanted to, but we produce gold and that should be our currency.”

Toronto-listed Endeavour merged with Australian-listed Adamus Resources in 2011. That and subsequent deals have seen Endeavour establish a portfolio of gold mines in Mali, Ghana and Burkina Faso supporting 300,000 ounces a year of production, which the company is aiming to lift to 550,000 ounces by 2016...
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Re: Endeavour Mining (TSE:EDV)

Postby Pixel8r » Wed Mar 27, 2013 11:28 pm » Safari 6.0.3 Safari 6.0.3  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

Endeavour Mining Reports 2012 All-In Margin of $130 Million and Updates 2013 Outlook

Vancouver, March 27, 2013 - Endeavour Mining Corporation ("Endeavour" or the "Corporation") (TSX:EDV, ASX:EVR, OTCQX:EDVMF) announces strong financial and operational results for 2012 with production of 310,778 ounces of gold, including full 2012 production from the Tabakoto Mine. Endeavour acquired the Tabakoto Mine (and the Houndé and Kofi projects) on October 18, 2012, which requires Endeavour's audited financial results to include only the 75 day operating period from October 18 to December 31, 2012 for Tabakoto. For 2012, Endeavour's all-in sustaining cash cost per ounce produced was $1,077 leading to an all-in sustaining margin of $130 million. The guidance range for 2013 all-in sustaining cash cost per ounce is $1,055 to $1,155 which includes revised cash cost guidance ranges for the Nzema and Tabakoto mines.
(All amounts in US dollars unless otherwise indicated)

2012 Financial and Operating Highlights
  • 2012 gold production, adjusted for the partial year inclusion of Tabakoto, was 220,462 ounces
  • 2012 gold sold, adjusted for the partial year inclusion of Tabakoto, was 218,887 ounces, which generated a mine cash margin of $179 million (equivalent to 107,366 ounces of gold), and after corporate costs, sustaining capital and near-mine exploration expenses generated an all-in sustaining margin of $130 million (equivalent to 78,038 ounces of gold)
  • Total cash cost per ounce produced was $767
  • Including royalties, corporate costs, sustaining capital and near-mine exploration, the all-in sustaining cash cost per ounce produced in 2012 was $1,077. See Table 2 for calculation details
  • The all-in sustaining margin was 36%
  • During 2012, Endeavour invested $106 million in new mine construction, development and exploration, as detailed in Table 1, leading to free cash flow of $24.7 million after all operating and development activities
  • Adjusted net earnings were $35.8 million or $0.13 per share for the year
  • As of December 31, 2012, Endeavour had cash and cash equivalents of $105.9 million and 27,000 ounces of gold ($45.2 million) with long-term debt of $200 million drawn from a corporate facility
  • Endeavour's attributable proven and probable mineral reserves have increased to a total of 2.5 million ounces and attributable measured and indicated resources (inclusive of reserves) totaled 6.4 million ounces, plus 2.6 million ounces inferred. See Tables 6 and 7 for mineral reserve and resource details.

Neil Woodyer, CEO, stated

"2012 was another successful year of delivering on operational guidance while also achieving significant growth for our company. Our Nzema and Youga mines produced 200,476 ounces exceeding our guidance range of 180,000 to 192,000 ounces at a cash cost per ounce of $701 compared to a guidance range of $670 to $690.

In October 2012, we acquired our third operating mine -- Tabakoto in Mali, and two attractive projects -- Houndé in Burkina Faso and Kofi in Mali. In our view, Tabakoto was underperforming due to a lack of working capital, poor management structures, overuse of contractors, and excessive site staffing levels. We closed the Avion corporate office in Toronto in November and redirected Tabakoto mine management to report to Endeavour's COO and senior operations team in Accra. In December, we started a major restructuring initiative which has included a 20% reduction in site staff levels during Q1 2013, the termination of the open pit mining contractor in January 2013, and the implementation of cost budgeting and mine reporting systems which were inadequate under previous management. During the 75 day post-acquisition stub period, Tabakoto produced 19,985 ounces at a cash cost per ounce of $1,250, and with the restructuring now underway, cash costs at Tabakoto have started to improve significantly during January and February 2013.

During 2013 we expect to increase gold production from our three mines to between 310,000 and 345,000 ounces with growth coming from the nearly-complete mill expansion at Tabakoto, while focusing on managing our costs. As a result of slower than expected access to the higher grade ore at Nzema's Adamus pits, we have revised our 2013 cash cost guidance at Nzema to $850 to $900 per ounce. In addition, we are increasing our 2013 cash cost guidance for Tabakoto to $880 to $920 per ounce due to the time lag for implementing and realizing the benefit of the cost savings measures. Overall, our gold production guidance remains unchanged.

Based on mid-guidance production and revised cash costs and assuming a $1,600 gold price, during 2013 we expect to generate approximately $160 million of all-in sustaining margin, after all operating costs, royalties, sustaining capital, corporate and near-mine exploration expenses.

Agbaou construction is on schedule with all major construction contracts and the mining contract awarded in line with the budget. Approximately 65% of the total construction cost has been committed with production on schedule for Q1 2014.

The Houndé project, in Burkina Faso, is in feasibility study and has the potential to add to our production in 2016, and Kofi has exciting exploration potential to round off our future growth profile.

Endeavour is pleased to improve the transparency and understanding of financial performance for our shareholders as well as for our government partners by reporting all-in sustaining cash costs and margins. During 2012, we sold 218,887 ounces of gold and after all operating costs, royalties, sustaining capital, corporate and near-mine exploration expenses we had $130 million remaining for a 36% margin. We then invested $106 million in new mine development and exploration, for free cash flow of $25 million in the year. Endeavour is in a rapid internal growth period with high quality development projects -- it's important we focus on managing costs and optimizing our current operations and development projects."
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Re: Endeavour Mining (TSE:EDV)

Postby Pixel8r » Wed Mar 27, 2013 11:35 pm » Safari 6.0.3 Safari 6.0.3  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

Good to see Endeavour using "all-in sustaining cash costs" for reporting now, would be good to see other miners do the same. :clap:
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Re: Endeavour Mining (TSE:EDV)

Postby Pixel8r » Sun Mar 31, 2013 12:59 pm » Safari 6.0.3 Safari 6.0.3  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

Endeavor Mining's CEO Discusses Q4 2012 Results - Earnings Call Transcript

Neil Woodyer - Chief Executive Officer

Thank you operator and thank you ladies and gentlemen for joining us. With me on the phone is, Attie Roux our Chief Operating Officer and Christian Milau, our CFO. If I can take you page four to look at the 2012 recent highlights. We had a successful year delivering on performance. Nzema, Youga, and Tabakoto in total, for the full year, produced 311,000 ounces against the guidance of 282,000 to 300,000 ounces.

Our two mines that we had for the full year Nzema and Youga produced 200,000, exceeding the guidance by about 10,000 ounces. The cash costs for the year was at $701 compared to our guidance that we gave of $670 to $690.

We completed the acquisition of Avion in fourth quarter, which added the Tabakoto Mine and two very attractive projects, Houndé and Kofi. We got the mill expansion back underway very quickly after the acquisition and it’s nearly complete now and we expect to ramp it up in April.

In December, we moved into a major reorganization, restructuring program at Tabakoto as we believe it was underperforming due mainly to the lack of working capital, poor management structures, the overuse of contractors, and excessive site staffing...
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Re: Endeavour Mining (TSE:EDV)

Postby Pixel8r » Thu Jul 18, 2013 5:11 pm » Safari 6.0.5 Safari 6.0.5  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

This is worth a read for those in EDV;

Endeavour Mining was recently featured in the July 2013 issue of Business Excellence magazine based on an interview with our CEO, Neil Woodyer, in which he gave an update on operations and discussed Endeavour's outlook.


http://www.endeavourmining.com/i/pdf/Endeavour_Africa_Mining_Aug-13_Business_Excellence_Magazine.pdf
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Re: Endeavour Mining (TSE:EDV)

Postby Pixel8r » Wed Aug 14, 2013 10:40 pm » Safari 6.0.5 Safari 6.0.5  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

Endeavour Mining Reports Q2 All-In Sustaining Cost of $1,038/Oz

Vancouver, August 14, 2013 - Endeavour Mining Corporation ("Endeavour" or the "Corporation") (TSX:EDV, ASX:EVR, OTCQX:EDVMF) announces Q2/2013 gold production of 75,421 ounces and an all-in sustaining margin of $25.4 million. The all-in sustaining cost was $1,038 per ounce sold, down from $1,083 per ounce in Q1, as cost reduction measures began to take effect.

(All amounts in US dollars unless otherwise indicated)

Q2/2013 Financial and Operating Highlights

  • Gold production was 75,421 ounces
  • Gold sold was 73,004 ounces for a mine cash margin of $30.7 million (equivalent to 22,157 ounces of gold), and after corporate costs, sustaining capital and near-mine exploration expenses generated an all-in sustaining margin of $25.4 million (equivalent to 18,307 ounces of gold or a 25% margin). See Table 1 for details
  • Total cash cost per ounce sold was $890. See Table 2 for details
    Including royalties, corporate costs, sustaining capital and near-mine exploration, the all-in sustaining cost per ounce sold was $1,038. See Table 3 for details
  • Endeavour invested $59.0 million in new mine construction, development and exploration, as detailed in Table 4, which included $40.4 million for Agbaou construction
  • Adjusted net loss of $11.6 million or $0.03 per share
  • The reported net loss for Q2/2013 included an after-tax non-cash impairment charge of $225.4 million, largely as a result of recording a $141.8 million charge associated with the Nzema Mine. Earlier in the year, a PEA study on the Nzema Sulphides indicated that additional sulphide resources needed to be identified before proceeding with any further studies. The decision to defer further sulphides exploration, combined with the recent decline in gold price, has led to this impairment charge at Nzema. The drop in the gold price has also led to an after-tax, non-cash impairment charge of $24.7 million at the Youga Mine and $5.6 million associated with non-core exploration properties. The impairment charge also included $53.3 million of goodwill.
  • As of June 30, 2013, Endeavour had cash and cash equivalents of $62.2 million with long-term debt of $200 million drawn from a corporate facility
  • Subsequent to quarter end, Endeavour increased its corporate facility to $300 million, with an additional $50 million available on completion of Agbaou. As of July 31, Endeavour had drawn down the incremental $100 million for a cash balance of over $150 million
"Money is Gold, and nothing else"
(As John Pierpont Morgan once stated under oath before the USCongress and the Pujo Commission in 1912)
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Re: Endeavour Mining (TSE:EDV)

Postby Pixel8r » Sun May 25, 2014 11:02 pm » Safari 7.0.3 Safari 7.0.3  Mac OS X Mac OS X  Screen Resolution: 1680 x 1050 1680 x 1050

"Money is Gold, and nothing else"
(As John Pierpont Morgan once stated under oath before the USCongress and the Pujo Commission in 1912)
User avatar
Pixel8r
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Joined: Fri Dec 04, 2009 4:16 pm
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