Welcome to our dedicated page for ENDEAVOUR MNG PLC news (Ticker: EDVMF), a resource for investors and traders seeking the latest updates and insights on ENDEAVOUR MNG PLC stock.
Endeavour Mining Corporation (EDVMF) is a leading intermediate gold producer operating four mines in West Africa. With a strong track record of production, the company focuses on sustainable growth, operational excellence, and responsible mining practices. Endeavour's recent achievement includes the successful delivery of its first gold in just two years, on budget and on schedule. The company's commitment to safety is evident through zero Lost Time Incidents (LTIs) with over 3.5 million man-hours worked. Endeavour Mining is dedicated to delivering shareholder value, as seen in its Shareholder Returns Programme and non-core asset divestment strategy.
On January 24, 2023, Endeavour Mining announced the purchase of 95,000 ordinary shares as part of its ongoing buy-back program initiated on March 17, 2022. The shares were acquired at a volume weighted average price of 1,951.97 GBp, with the lowest price at 1,913.00 GBp and the highest at 2,012.00 GBp. After cancellations, the company will have 246,153,077 ordinary shares outstanding, impacting total voting rights for shareholders. This move reinforces Endeavour Mining's strategy to enhance shareholder value amidst market conditions.
Endeavour Mining achieved strong financial performance in FY-2022, producing 1.4Moz of gold with an all-in sustaining cost (AISC) of ~$928/oz. The company declared a H2-2022 dividend of $100 million, totaling $200 million for FY-2022, which is 33% above minimum commitments. A share buyback program totaled $99 million, reflecting robust cash flow and a financial position of $121 million net cash. FY-2023 guidance estimates production of 1,325-1,425koz with an AISC of $940-995/oz. Endeavour continues to invest in organic growth projects with $370 million budgeted for capital expenditures in FY-2023, including expansions and exploration efforts.
On January 10, 2023, Endeavour Mining plc received a notification from BlackRock, Inc. regarding its increased shareholding. As of January 9, 2023, BlackRock holds 12.04% of Endeavour Mining's voting rights, up from the previous 11.68%. The acquisition included 29,641,964 voting rights, with 28,610,544 representing direct holdings and 1,020,936 through securities lending. The notification reflects a continued interest from BlackRock in the mining sector, demonstrating their confidence in Endeavour Mining's prospects.
On December 13, 2022, Endeavour Mining plc announced the purchase of 29,000 ordinary shares at a price of 1,720.78 GBp each through Stifel Nicolaus Europe Limited. Following this buyback, the company will have 246,539,171 ordinary shares in circulation, with no shares held in treasury. This transaction is part of a buy-back program initiated on March 17, 2022. The transaction aligns with Endeavour's commitment to optimizing shareholder value.
Endeavour Mining announced its total voting rights as of 30 November 2022, in compliance with the UK FCA's Disclosure Guidance. The company reported an issued ordinary share capital of 245,935,263 ordinary shares with no shares held in treasury. This total represents the number of voting rights available to shareholders for calculating their interest in the company.
Endeavour Mining is recognized as one of the largest gold producers in West Africa, with a strong commitment to responsible mining and sustainability.
Endeavour Mining announced a significant 17% increase in the Measured and Indicated (M&I) resources at its Ity mine, totaling 99Mt at 1.62 g/t Au, equating to 5.2Moz. This increase is attributed to successful drilling that confirmed the continuity of the mineralized system encompassing seven deposits, with further exploration expected in 2023. The company aims to discover between 3.5-4.5Moz of Indicated resources by 2025, having already identified 2.0Moz in the past two years. The Ity mine continues to exceed production guidance, showcasing Endeavour's commitment to long-term growth.
Endeavour Mining has announced a 17% increase in the Measured and Indicated (M&I) resources at its Ity mine, rising to 5.2 million ounces of gold. The updated resource estimates total 99 million tonnes at 1.62 g/t Au. Key findings include confirmed extensions of existing deposits and new discoveries, bolstering future resource delineation plans. Endeavour is on track to meet its goal of identifying an additional 3.5 to 4.5 million ounces of indicated resources by 2025, with production guidance set to exceed annual targets of 255,000 to 270,000 ounces.
Endeavour Mining plc announced a transaction by Non-Executive Director Srinivasan Venkatakrishnan on 14 November 2022. Venkatakrishnan acquired 6,000 ordinary shares at a price of £16.71 per share, totaling £100,260. This notification is a standard disclosure regarding transactions by individuals with managerial responsibilities, reflecting the ongoing commitment and confidence of board members in the company's performance.
Endeavour Mining reports strong Q3-2022 results, achieving production of 343koz at an all-in sustaining cost (AISC) of $960/oz, contributing to 1,045koz year-to-date at an AISC of $920/oz. The company is on track to meet its FY-2022 guidance of 1,315-1,400koz at an AISC of $880-930/oz. Net earnings for Q3-2022 total $58m ($0.23/sh), with a cash position of $833m at quarter-end. A $100m dividend was paid in H1-2022, enhancing shareholder returns alongside a share buyback programme totaling $75m this year.
On November 7, 2022, Endeavour Mining received a notification from Van Eck Associates regarding their holdings as of November 4, 2022. Van Eck now holds 10.06% of voting rights, an increase from 9.99%. The notification covers various Van Eck funds, including the VanEck Gold Miners ETFs. The total number of voting rights amounts to 245,885,760. This acquisition reflects the growing investment interest in Endeavour Mining from Van Eck, signifying potential confidence in the company's future prospects.
FAQ
What is the current stock price of ENDEAVOUR MNG PLC (EDVMF)?
What is the market cap of ENDEAVOUR MNG PLC (EDVMF)?
Where is Endeavour Mining Corporation located?
What is Endeavour Mining Corporation's focus?
What recent achievement has Endeavour Mining Corporation made?
How does Endeavour Mining Corporation prioritize safety?
What strategy does Endeavour Mining Corporation employ for shareholder value?
What is the core business of Endeavour Mining Corporation?
How does Endeavour Mining Corporation ensure operational excellence?
What is Endeavour Mining Corporation's commitment to responsible mining practices?
What sets Endeavour Mining Corporation apart in the mining industry?
How can I stay updated on Endeavour Mining Corporation's latest news?
