ENDEAVOUR MNG PLC - EDVMF STOCK NEWS

Endeavour Mining announced the first gold pour from its Lafigué mine in Côte d'Ivoire on June 28, 2024. The project was delivered on budget and a quarter ahead of schedule, only 21 months after construction began. Lafigué is expected to produce 90-110koz of gold in FY-2024 at an AISC of $900-975/oz, increasing to approximately 200koz in FY-2025. The mine has a nameplate capacity of 4.0Mtpa and is expected to achieve commercial production in Q3-2024. This marks Endeavour's fifth successful project built in West Africa in the last decade, highlighting their competitive advantage in the region. The company now enters a phase of increased free cash flow generation, de-levering, and enhanced shareholder returns.

Endeavour Mining announced its Q2-2024 results. Highlights include gold production of 251koz at an AISC of $1,287/oz and adjusted EBITDA of $249m, up 17% from Q1-2024. Adjusted net earnings were $3m, while operating cash flow was $258m. The company maintains a stable net debt of $835m.

Shareholder returns include a declared $100m dividend for H1-2024 and $20m in share buybacks. The updated policy promises a minimum $435m in dividends for 2024 and 2025.

Operationally, H1-2024 production amounted to 470koz, with both Sabodala-Massawa BIOX® Expansion and Lafigué expected to ramp up by Q3-2024. Exploration efforts saw $56m spent.

The company is on track to meet its FY-2024 production guidance but expects AISC to be at the top end of the range. Significant improvements in power availability in Q3 will support a stronger H2 performance.

Endeavour Mining plc (EDVMF) received a notification from BlackRock, Inc. regarding its holdings in the company as of July 24, 2024. The notification indicates that BlackRock's total position in Endeavour Mining has increased to 13.39% of voting rights, up from the previous 13.38%. This includes 12.02% of voting rights attached to shares and 1.37% through financial instruments. The total number of voting rights held by BlackRock in Endeavour Mining is now 32,831,312. The change in holdings crossed a reportable threshold on July 24, 2024, and was notified to the issuer on July 25, 2024.

Endeavour Mining has announced a significant change in shareholding. On July 11, 2024, BlackRock, Inc. informed Endeavour that it crossed a major threshold on July 10, 2024. The current holding is 13.41% of voting rights, a slight decrease from the previous 13.65%. This includes 12.03% through direct shares and 1.38% through financial instruments. BlackRock, Inc.'s complex ownership structure is highlighted, involving various subsidiaries globally. The notification provides insight into BlackRock's investment strategy and its impact on Endeavour's ownership landscape.

Endeavour Mining (LSE: EDV, TSX: EDV, OTCQX: EDVMF) is set to release its Q2 and half-year 2024 financial results on July 31, 2024, before the London Stock Exchange opens. Management will host a conference call and webcast on the same day at 8:30 am EST/1:30 pm BST to discuss the financial results. Participants can join the webcast via a provided link and ask questions by registering for the conference call. The event's playback will be available on Endeavour's website. This announcement is important for investors anticipating financial performance insights.

Endeavour Mining announces its total voting rights as of June 28, 2024. The issued ordinary share capital comprises 244,802,597 ordinary shares of US$0.01 each. There are no shares held in treasury pending cancellation, resulting in a total of 244,802,597 voting rights. Shareholders can use this figure for calculations to determine notifications needed under the FCA's Disclosure Guidance and Transparency Rules.

Endeavour Mining achieved its first gold pour at the Lafigué mine in Côte d’Ivoire on June 28, 2024, ahead of schedule and on budget. The mine's construction was completed in just 21 months. Lafigué is expected to reach commercial production and ramp up to 4.0Mtpa capacity by Q3 2024, with an initial annual production forecast of 90-110koz of gold at an AISC of $900-975/oz for FY 2024. Production is anticipated to increase to 200koz in FY 2025. The project marks Endeavour's fifth successful build in West Africa over the past decade. CEO Ian Cockerill highlighted that this milestone reflects the company’s competitive advantage in the region. The project cost $31 million to discover, with a low capital intensity of approximately $150/oz of M&I resources.

Endeavour Mining has announced that wet commissioning at the Lafigué project in Côte d’Ivoire is now underway, with construction at 94% completion.

The project is on budget and a quarter ahead of schedule, with the first gold pour expected in late June.

Ore stockpiles currently stand at 1.6 million tonnes at 1.30 g/t gold, totaling 65,000 ounces. The Lafigué mine is projected to produce 90,000-110,000 ounces of gold in FY-2024 at an AISC of $900-975 per ounce.

The project has incurred $369.9 million of its $448 million initial capital expenditure, with 97% of the budget already committed.

Endeavour has focused on local employment, with 92% of the workforce being Ivorian nationals, and has partnered with the Ivorian government to provide technical skills training to local youth.

On June 25, 2024, Endeavour Mining announced that BlackRock, Inc. notified it of a change in its voting rights. As of June 24, 2024, BlackRock holds 11.92% direct voting rights and 1.73% through financial instruments, totaling 13.65%, a slight decrease from the previous 13.69%. This notification follows an update in BlackRock’s holdings due to acquisitions or disposals of voting rights. The detailed breakdown includes a total of 29,212,117 direct voting rights and 4,130,596 through financial instruments. BlackRock’s holdings are structured through multiple controlled entities, contributing to the cumulative voting rights. The notification was completed on June 25, 2024, and originated from BlackRock’s regulatory reporting team in London.