Endeavour Mining - EDVMF STOCK NEWS

Endeavour Mining Corporation has announced that its 2021 Annual General Meeting (AGM) will take place on May 25, 2021. Alongside the AGM, the company will hold a Court Meeting and an Extraordinary General Meeting regarding its proposed listing on the London Stock Exchange. Shareholders will receive meeting materials by post after April 30, 2021, and proxy forms must be submitted by 9:00 am Toronto time on May 21, 2021. The meetings will be conducted virtually due to the COVID-19 pandemic.

Endeavour Mining (TSX:EDV, OTCQX:EDVMF) will announce its Q1 2021 financial results on May 13, 2021, before the market opens. A conference call and webcast will follow at 8:30 AM ET for discussion and Q&A. Analysts and investors can access the webcast via this link, with dial-in numbers provided for participation. The conference details include timings across various time zones. Playback will be available on Endeavour's website.

Endeavour Mining Corporation has successfully completed a US$200 million investment from La Mancha Holding, issuing 8,910,592 shares at approximately US$22.45 (C$29.36) per share. This investment, part of the Teranga Gold acquisition announced on November 16, 2020, gives La Mancha a 19% stake in Endeavour. The proceeds will be utilized for debt reduction and general corporate purposes. Following the investment, Endeavour has 252,519,830 shares outstanding. The investment was approved by Endeavour shareholders on January 21, 2021.

Endeavour Mining (TSX:EDV, OTCQX:EDVMF) reported record financial results for FY-2020, highlighting a 148% increase in operating cash flow and a significant net debt reduction of $603 million, achieving a net cash position of $75 million. Q4-2020 saw record gold production of 344koz, a 41% increase over the previous quarter, while all-in sustaining costs (AISC) decreased by 11% to $803/oz. Adjusted net earnings surged 368% to $345 million for the full year. The company plans a buyback program and aims for a premium listing on the London Stock Exchange.

Endeavour Mining Corporation announces approval for a Normal Course Issuer Bid (NCIB) to repurchase up to 12,172,871 ordinary shares, representing 5% of its outstanding shares. The NCIB, effective from March 22, 2021 to March 21, 2022, aims to enhance shareholder value and support dividend policies. The average daily trading volume is noted at 661,069 shares, allowing daily repurchases of up to 165,267 shares. Endeavour has initiated an automatic share purchase plan to facilitate these transactions efficiently.

Endeavour Mining has raised its 2021 production guidance by 50% to between 1.4 and 1.5 million ounces, following the integration of the Sabodala-Massawa and Wahgnion mines. The all-in sustaining cost (AISC) guidance has decreased to $840 - $890 per ounce, down by $40. The exploration budget is also increased by 40% to between $70 to $90 million, focusing on new and existing assets. The Phase 1 expansion of the Sabodala-Massawa mine is expected to complete by year-end, with a Definitive Feasibility Study for Phase 2 also underway.

Endeavour Mining has reported positive Pre-Feasibility Study (PFS) results for both the Fetekro and Kalana projects, signaling strong organic growth. The Fetekro project shows potential for over 200,000 ounces per annum with a low all-in sustaining cost (AISC) of $838/oz and an after-tax NPV of $479 million based on a $1,500/oz gold price. Similarly, the Kalana project could yield 150,000 ounces per year at an AISC of $901/oz and an NPV of $331 million. Both projects indicate robust economics and aim to advance to the Definitive Feasibility Study (DFS) phase.

Endeavour Mining announced the completion of its acquisition of Teranga Gold Corporation, creating a top 10 global gold producer. The deal involved issuing 0.47 Endeavour shares for each Teranga share, totaling approximately 78.77 million shares. Endeavour now holds 243 million shares outstanding, integrating Teranga’s Sabodala-Massawa and Wahgnion mines into its West African platform. The acquisition aims to enhance shareholder value through strategic initiatives and upcoming listing on the London Stock Exchange.

Endeavour Mining announced on February 3, 2021, that it has received all necessary regulatory approvals for its acquisition of Teranga Gold Corporation, initially revealed on November 16, 2020. The closing of the acquisition is expected around February 8, 2021. Written confirmation from the Minister of Innovation, Science and Industry affirmed approval under the Investment Canada Act, and Teranga obtained final court approval on January 29, 2021. Additionally, a US$200 million investment by La Mancha will close during the quarter at a premium price.