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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.
Endeavour Mining plc has appointed Srinivasan Venkatakrishnan as Chair and Ian Cockerill as Senior Independent Director, effective May 24, 2022. Venkat succeeds Michael Beckett, who is retiring after 12 years. These appointments reflect Endeavour's commitment to high corporate governance standards, aligning with the UK Corporate Governance Code. Venkat, an industry veteran with over 30 years of experience, aims to build on the company's success, while Cockerill brings extensive operational experience from his previous roles in major mining firms.
Endeavour Mining plc announced the purchase of 85,000 ordinary shares at a price of CAD 31.32 each on March 15, 2022, through Stifel Nicolaus Europe Limited. Following the cancellation of these shares, Endeavour will have no treasury shares, leaving 249,094,793 shares outstanding, which shareholders can use for interest calculations under FCA rules. This buyback is part of a previously announced program from June 15, 2021.
Endeavour Mining has successfully closed the sale of its 90% interest in the non-core Karma mine in Burkina Faso to Néré Mining for up to $25 million plus a 2.5% NSR royalty. The deal aligns with Endeavour's strategy of focusing on high-margin assets. The initial payment of $10 million has been received, with additional payments contingent on gold prices. Following this sale, Endeavour has adjusted its 2022 production guidance from 1,400-1,500koz to 1,315-1,400koz and reduced its AISC guidance by $10/oz.
Endeavour Mining plc announced the repurchase of 100,000 ordinary shares at a price of 32.49 CAD per share on 10 March 2022. This share buyback is part of the company's ongoing buy-back program initiated on 15 June 2021. Following the cancellation of these shares, Endeavour Mining will have 249,074,543 ordinary shares remaining in issue, impacting the total voting rights.
On February 23, 2022, Endeavour Mining received notification from BlackRock, Inc. regarding its voting rights in the company as of February 22, 2022. BlackRock reported holding a total of 10.67% in voting rights, with 10.02% from shares and 0.65% from financial instruments. The updated position reflects an increase from a previous holding of 10.01%. This notification is part of regulatory requirements for major holdings and is crucial for investors tracking BlackRock's influence on Endeavour Mining's governance.
Endeavour Mining has announced its total voting rights as of 6pm on February 28, 2022. The issued ordinary share capital stands at 248,573,756 shares, with 110,900 shares held in treasury pending cancellation. Consequently, the total voting rights available to shareholders is 248,462,856 shares. This information is crucial for shareholders as it serves as the denominator for calculating their interest notifications under the FCA's Disclosure Guidance and Transparency Rules.
Endeavour Mining announced the purchase of 55,300 ordinary shares on 7 March 2022, executed through Stifel Nicolaus Europe Limited. The shares were bought at a price of CAD 33.52 each, marking the lowest, highest, and volume-weighted average price for this transaction. Following this repurchase, the total number of ordinary shares in circulation will be 248,939,793. This buyback is part of the company's ongoing share repurchase program initiated on 15 June 2021.
Endeavour Mining announced the purchase of 165,000 ordinary shares on March 4, 2022, as part of its ongoing buy-back program started on June 15, 2021. The shares were acquired at a uniform price of 33.15 CAD each. Post-cancellation, the company will have no shares in treasury, resulting in 248,995,093 shares outstanding, which will inform shareholders for Disclosure Guidance under FCA rules. This strategic move aims to boost shareholder value and reflects the company's commitment to sustainable practices in West Africa.
Endeavour Mining announced the purchase of 15,000 ordinary shares at a price of 34.32 CAD per share on 3 March 2022. Following the cancellation of these shares, the company will have 249,160,093 ordinary shares in issue, leading to the same number of total voting rights. This transaction is part of the company's ongoing buyback programme initiated on 15 June 2021.
Endeavour Mining plc has announced the application for the listing of 799,000 ordinary shares on the London Stock Exchange. This move is subject to approval by the Financial Conduct Authority and is expected to be effective on March 2, 2022. The shares will be issued following the exercise of certain Taurus Warrants, with the new shares ranking equally with existing shares. Endeavour is recognized as one of the world's prominent gold producers and is committed to sustainable mining practices.
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