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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 June 21, 2022, Endeavour Mining plc was notified by BlackRock, Inc. regarding its shareholding interests in the company as of June 20, 2022. BlackRock's acquisition resulted in a total voting rights percentage of 11.55%, consisting of 10.91% from direct shares and 0.64% from financial instruments. This marks a slight decrease from the previous holding of 11.68%. The notification is part of regulatory compliance for significant shareholdings. The full details of the voting rights and share distribution were disclosed in accordance with reporting obligations.
Endeavour Mining announced the purchase of 12,800 ordinary shares at CAD 27.15 each on 24 June 2022 as part of its buy-back program initiated on 17 March 2022. Following this transaction, the company will have 248,435,261 ordinary shares in circulation with no shares held in treasury. This buy-back activity aims to enhance shareholder value and may influence voting rights calculations under the FCA's rules.
Endeavour Mining announces the renewal of its share buyback program following shareholder approval at the AGM on June 7, 2022. The agreement, managed by Stifel Nicolaus Europe Limited, allows for independent trading decisions under specific parameters. The shares repurchased are intended for cancellation, in compliance with applicable regulations. This initiative aims to enhance shareholder value and reflects Endeavour's commitment to responsible capital management.
Endeavour Mining announced its total voting rights as of 6 PM on May 31, 2022. The company reported an issued ordinary share capital of 247,956,054 ordinary shares, with 100,000 shares held in treasury pending cancellation.
Thus, the total number of voting rights was 247,856,054. Shareholders can use this figure for determining if they need to notify any interest changes under the FCA's rules.
Endeavour Mining plc announced that all resolutions were passed during its Annual General Meeting (AGM) on May 24, 2022. The CEO, Sébastien de Montessus, acknowledged Michael Beckett for his contributions upon retirement and welcomed new board members Venkatakrishnan Srinivasan and Ian Cockerill. Notably, the Directors’ Remuneration Policy saw over 90% support, while the annual report on directors' remuneration received only 70% support, prompting further shareholder engagement. The total issued shares were 248,646,262, with a 79.79% voting turnout.
On May 17, 2022, Endeavour Mining received a notification from BlackRock detailing its interests in the company as of May 13, 2022. BlackRock reported holding 11.5% of voting rights attached to shares, amounting to 28,505,624 shares. Additionally, 0.34% of voting rights are held through financial instruments, totaling 862,782 rights. These adjustments mark a decrease from its previous position, which was 12.23%. This update is crucial for investors as it reflects changes in significant shareholders and their impact on the company's governance.
On May 20, 2022, Endeavour Mining announced the purchase of 100,000 ordinary shares at a price of CAD 28.07 each from Stifel Nicolaus Europe Limited. The transaction, part of a buy-back program initiated on March 17, 2022, will result in the cancellation of these shares, leaving 248,332,362 ordinary shares in issue. This figure represents the total voting rights available to shareholders, which is crucial for compliance with the FCA's Disclosure Guidance and Transparency Rules.
Endeavour Mining has announced its total voting rights as part of compliance with the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rule 5.6. As of April 30, 2022, the company’s issued share capital consisted of 247,933,704 ordinary shares, with 113,900 shares held in treasury. Thus, the total number of voting rights is 247,819,804, which shareholders can use to determine their interest notification obligations.
Endeavour Mining reports strong Q1-2022 results, producing 357koz of gold at an AISC of $848/oz, a 14% increase in production compared to Q1-2021. Adjusted net earnings rose to $122m, up 21%, while operating cash flow increased by 23% to $299m. The net cash position improved by $90m to $167m. The company continued its shareholder returns program, paying out $70m in dividends and repurchasing $31m in shares. With ongoing expansions and exploration initiatives, Endeavour remains well-positioned to meet its FY-2022 guidance of 1,315-1,400koz.
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