logo-loader
TSX:EDV

Endeavour Mining Corp

Receive alerts
Market:
TSX
Market Cap:
$5.73 billion
Price
35.13 CAD
Change
-1.51%
52 weeks high
38.98
52 weeks low
15.68

OUR STRATEGY

Endeavour is a West African gold producer focused on developing and operating a portfolio of high quality low-cost, long-life mines. Endeavour adopts an active portfolio management approach to focus on high quality assets with an investment criteria based on capital allocation efficiency and return on capital employed. With its technical teams all based in proximity to its mines, Endeavour has built a solid track record of exploration, development and operation in the highly prospective Birimian greenstone belt.

Endeavour operates four mines across Côte d’Ivoire (Agbaou and Ity) and Burkina Faso (Houndé, Karma), which are expected to produce 615-695koz at an AISC of $760-810/oz in 2019. Its ongoing five-year exploration program aims to discover 10-15Moz of gold by 2021 which represents more than twice the reserve depletion during the period.

 
Birimian Greenstone Belt
GROUP OVERVIEW
 
 
PRODUCTION:
670-720kozin 2018
ALL-IN SUSTAINING COSTS:
$840 - 890/ozin 2018
P+P RESERVES:
9.1Moz
M+I RESOURCES:
14.9Moz
EMPLOYEES:
4,000
EXPLORATION TENEMENTS:
10,090km²

CLEAR PATH TO +800KOZ PRODUCTION AND AISC <$800/OZ

 

EXECUTIVE MANAGEMENT

SÉBASTIEN DE MONTESSUS , CEO & PRESIDENT
Mr. de Montessus is CEO and the President of Endeavour Mining. He was previously the Chief Executive Officer of the La Mancha Group since 2012, and under his leadership La Mancha doubled its production through optimization efforts before undergoing a portfolio restructuring, which enabled the Sawiris family to become the main shareholder of Evolution Mining, a leading Australia gold miner, and of Endeavour Mining in November 2015. Mr. de Montessus was previously a member of the Executive Board and Group Deputy CEO of AREVA Group (a world leader in nuclear energy) and CEO of AREVA Mining (uranium). Mr. de Montessus was a Board member of Evolution Mining, between 2015 and 2018, and of ERAMET, a world leader in alloying metals, between 2010 and 2012.

Before joining AREVA in 2002, Mr. de Montessus was an investment banker at Morgan Stanley in London (M&A and Equity Capital Markets). Mr. de Montessus is a business graduate from ESCP-Europe Business School in Paris.


LOUIS IRVINE , EXECUTIVE VP, CHIEF FINANCIAL OFFICER
Mr. Irvine has more than 24 years of experience in the mining industry with extensive expertise in finance, accounting, treasury, strategy and business development. He has held a number of executive finance roles at leading international mining companies including BHP Billiton (CFO Carbon Steel Materials), Xstrata (CFO Xstrata Copper), and Anglo American (CFO Copper Business). He joins Endeavour from Anglo American where he enjoyed a six-year tenure as Executive Head of Strategy and Business Development for Base Metals, and before that as the company’s Chief Financial Officer for Copper. He is a qualified chartered accountant who started his career at Deloitte.


MARK MORCOMBE , CHIEF OPERATING OFFICER
Mr. Morcombe has more than 25 years of experience in the mining industry with extensive expertise in leading safety, environment, mine planning, cost and productivity initiatives. Prior to joining Endeavour, Mark was Chief Operating Officer of Centamin Plc, operator of the Sukari Mine in Egypt, since joining in January 2018. Before this, he held the same role at Acacia Mining, which operates three mines in Tanzania. From late 2010 to April 2016 he held several senior roles at AngloGold Ashanti, including Senior Vice President, Planning and Business Development, followed by more than three years as SVP Ghana, leading the Obuasi gold mine turnaround project. He holds a degree in Mining Engineering from the Western Australian School of Mines.


PATRICK BOUISSET , EXECUTIVE VP EXPLORATION & GROWTH
Mr. Bouisset has more than 30 years of experience in mining and oil and gas exploration and has been the Executive Vice President of Exploration since November 2015. Prior to joining Endeavour, he was Executive Vice President Exploration and New Ventures of La Mancha. He spent more than 20 years overseas during his career with Total, where he was in charge of all its exploration activities in Africa. He joined Areva in 2007 as Vice President Geoscience of its Business Group. For six years, as a member of the executive committee of Areva Mines, he led worldwide exploration activities and managed all of its not yet producing subsidiaries. He was also board member of numerous affiliates.

Mr. Bouisset holds a master’s degree in Geology from Orleans University, and graduated from ESEM and ENSPM. He was a board member of the French National School of Geology (Nancy).


MORGAN CARROLL , EXECUTIVE VP CORPORATE FINANCE & GENERAL COUNSEL
Mr. Carroll has spent over 15 years in mining finance and advisory. His experience spans a wide angle, including initially practising as a mining lawyer at a large multinational law firm in New York and London, corporate and investment banking within a number of US and European banks, and several years advising on base metals, precious metals, and oil and gas deals. During his career he has been involved in numerous prominent financings for mining assets in Africa, Latin America and the Russian Federation. His areas of focus are corporate and project finance, debt and equity capital markets, M&A, joint ventures, Board-level governance and corporate development. Having joined the company in 2008, he has been involved in the evolution of Endeavour as a mining company since inception of the strategy.

Mr. Carroll is a graduate of Trinity College Dublin (LL.B, Ling. Germ.), the University of London (LL.M), is admitted as an Attorney in the State of New York, and as a Solicitor in England & Wales.


HENRI DE JOUX , EXECUTIVE VP PEOPLE AND IT
Henri de Joux joined the team in October 2016 with extensive knowledge and experience in the HR, legal and financial fields. Before joining the team Henri served as chief financial officer and chief strategy officer of Business France, a company promoting export and capital investments with presence in over 70 countries. Prior to this he served as Group deputy General Secretary and company secretary of France Telecom-Orange, in charge of governance, public affairs, real estate, insurance, group policies and supervising support functions throughout the organization. He has also served various positions within the Telecom-Orange Group, specifically in the field of mergers and acquisitions. Mr De Joux previously held a position as a Director of Mobinil Telecommunications and Jordan Telecom, and was Member of the Supervisory Board at Telekomunikacja Polska SA. In addition to holding a law degree, Mr. de Joux is a graduate of the EM Lyon Business School. He is an Auditor at the Institute of Higher National Defence Studies (IHEDN).

 

PASCAL BERNASCONI , EXECUTIVE VP PUBLIC AFFAIRS, CSR, AND SECURITY
Mr. Bernasconi previously served as SVP Public Affairs at Endeavour for two years after joining from La Mancha Group where he was General Manager of Société des Mines d’Ity since 2013. Mr. Bernasconi has significant experience managing complex environments in different countries and cultures. He began his career in the nuclear industry with COGEMA and AREVA where he managed a large nuclear site in France for 5 years before moving to Areva’s mining operations, in Kazakhstan and in Niger.

Mr. Bernasconi holds a PhD in Physics and Chemistry from Université Nancy 1 and holds a diploma in finance controlling.

BOARD OF DIRECTORS

ALISON BAKER, NON-EXECUTIVE DIRECTOR

Alison Baker is a chartered accountant with over 25 years’ experience in providing audit, capital markets, advisory and assurance services. Alison has extensive emerging markets experience in the energy and mining sectors, having previously led the UK and EMEA Oil & Gas practice at PricewaterhouseCoopers and prior to that the UK Energy, Utilities and Mining Assurance practice at Ernst & Young. She is currently a non-executive director and Audit Committee Chair at FTSE250 listed companies KAZ Minerals plc and Helios Towers plc, the leading independent telecommunications tower company in Africa, and senior independent director and Audit Committee Chair at Rockhopper Exploration plc. She is a qualified chartered accountant of the Institute of Chartered Accountants of England and Wales and earned a Bachelor of Science in mathematical sciences from Bath University.

Skills and expertise: Strategy & Leadership, Metals & Mining, Finance, Accounting, International Business


MICHAEL E. BECKETT, CHAIRMAN, NON-EXECUTIVE DIRECTOR
Michael E. Beckett has more than 40 years experience in the mining sector and he has been involved in the development of some of the largest gold mines in the world in Africa and Papua New Guinea; iron ore mines in West Australia; industrial minerals in the Ukraine, Russia and Indonesia; and platinum mines in South Africa. As a former chair off Ashanti Goldfields Ltd. and former Managing Director of Consolidated Gold Fields plc, Mr. Beckett has extensive knowledge of mining in Africa. Mr. Beckett is a non-executive Director of International Hotels Investment Ltd., Northam Platinum Ltd., Orica Ltd., Petroamerica Oil Corporation and The Egypt Trust Ltd.


OLIVIER COLOM, NON-EXECUTIVE DIRECTOR
Olivier Colom is a former French diplomat and diplomatic adviser to President Nicolas Sarkozy, with extensive experience of African affairs. At the French Foreign Office, he helped to reform France’s development aid programme before specialising in European Union affairs, notably economic, financial, budgetary and agricultural affairs. After serving as a diplomat in Oslo and London, where he was seconded to the office of UK Prime Minister Tony Blair in 2005-2006, he joined the French President’s staff at the Elysée Palace in 2007. In his role as diplomatic advisor and deputy “Sherpa” to President Nicolas Sarkozy, he was responsible for international economic matters, climate change negotiations, development aid and global governance reform, as well as preparations for international summits including the G20, G8, United Nations and French-speaking nations. From 2013 to 2016, he was a member of the Edmond de Rothschild Group’s Executive Committee, holding first the position of international adviser and then of Secretary General. Mr. Colom is currently the chairman of OC Advisory. He is a graduate of the National School of Administration and the Institute of Political Studies in Paris, and holds a degree in General Public Law (Sorbonne) and a master degree in International Law from Paris X University.


LIVIA MAHLER, NON-EXECUTIVE DIRECTOR
Livia Mahler has significant experience in corporate governance having sat on a number of Audit and Compensation committees. Ms. Mahler is currently an independent director and Chair of the Compensation Committee and member of the Audit Committee at Ivanhoe Mines (TSX:IVN) and is President and Chief Executive Officer of Computational Geosciences Inc. Computational Geosciences provides geophysical data processing services to the mining and oil & gas industries. Ms. Mahler previously served on the Audit and Compensation committees of Diversified Royalty Corp. (TSX:DIV), Turquoise Hill Resources Ltd. (NYSE/TSX:TRQ) and DuSolo Fertilizers Inc. (TSX.V:DSF). Ms. Mahler’s background also includes 20 years of venture capital experience where she invested in technology companies and was widely recognized for her strategic insights into the Canadian venture industry. Ms. Mahler received a Bachelor of Science degree from the Hebrew University of Jerusalem and an MBA from the University of British Columbia.
 

WAYNE MCMANUS, NON-EXECUTIVE DIRECTOR
Wayne McManus has extensive work experience in the private banking sector, providing accounting and wealth management services for high net worth clients. He has an LLM in taxation, a JD, and an MBA and has more than 20 years of academic experience in the accounting field. He is a Certified Public Accountant, holds the Chartered Financial Analyst designation and is a member of the CFA Institute.

Mr. de Montessus is CEO and the President of Endeavour Mining. He was previously the Chief Executive Officer of the La Mancha Group since 2012, and under his leadership La Mancha doubled its production through optimization efforts before undergoing a portfolio restructuring, which enabled the Sawiris family to become the main shareholder of Evolution Mining, a leading Australia gold miner, and of Endeavour Mining in November 2015. Mr. de Montessus was previously a member of the Executive Board and Group Deputy CEO of AREVA Group (a world leader in nuclear energy) and CEO of AREVA Mining (uranium). Mr. de Montessus was a Board member of Evolution Mining, between 2015 and 2018, and of ERAMET, a world leader in alloying metals, between 2010 and 2012.

Before joining AREVA in 2002, Mr. de Montessus was an investment banker at Morgan Stanley in London (M&A and Equity Capital Markets). Mr. de Montessus is a business graduate from ESCP-Europe Business School in Paris.


NAGUIB SAWIRIS, NON-EXECUTIVE DIRECTOR
Mr. Sawiris is Chairman of the advisory board of La Mancha, Chairman of the Board of Orascom TMT Investments S.à r.l., and Executive Chairman and Chief Executive Officer of Orascom Telecom Media and Technology Holding S.A.E. The Sawiris Family have substantial interests in the telecom, construction and fertiliser, cement, real estate and hotel development industries and other businesses. Mr. Sawiris founded Orascom Telecom Holding and developed it into a leading regional telecom player until a merger with Vimpelcom Ltd created the world’s sixth largest mobile telecommunications provider.

Mr. Sawiris has received a number of honorary degrees, industry awards and civic honors, including the “Legion d’honneur” the highest award given by the French Republic for outstanding services rendered to France, the Honor of Commander of the Order of the “Stella della Solidarietà Italiana”, the prestigious “Sitara-e-Quaid-e-Azam” award for services rendered to the people of Pakistan in the field of telecommunication, investments and social sector work. Mr. Sawiris serves on a number of additional Boards, Committees and Councils including the Advisory Committee to the NYSE Board of Directors, the International Advisory Board to the National Bank of Kuwait, the Egyptian Council for Foreign Affairs and the Arab Thought Foundation. Mr. Sawiris holds a diploma of Mechanical Engineering with a Masters in Technical Administration from the Swiss Federal Institute of Technology Zurich ETH Zürich and a Diploma from the German Evangelical School, Cairo, Egypt.

CONTACT INFORMATION

GENERAL ENQUIRIES

INVESTOR RELATIONS

Martino De Ciccio
VP Strategy & Investor Relations
+44 203 011 2719
[email protected]

 

MEDIA INQUIRIES

DFH Public Affairs in Toronto
John Vincic, Senior Advisor
+416 206 0118
[email protected]

 

Brunswick Group LLP in London
Carole Cable, Partner
+44 7974 982 458
[email protected]

PROCUREMENT

Supply Manager
[email protected]

 

HUMAN RESOURCES

OFFICES

Corporate Office
5 Young Street
London
United Kingdom W8 5EH
+44 203 011 2723

 

Operations Office
Hotel Palm Club
Croisement Boulevard Latrille et 
rue du Lycée Technique
Abidjan
Côte d'Ivoire 08 BP 872
Abidjan, Côte d'Ivoire
+225 22 48 99 00

 

Executive Office
Monte-Carlo Palace, Bureau 76 
7 Boulevard des Moulins
Monaco 98000
+377 9798 7130
+377 9798 7131

Registered Office
c/o Walkers Corporate Limited
Cayman Corporate Centre, 27 Hospital Road
George Town, Grand Cayman
Cayman Islands KY1-9008
+345 943 3100
+345 945 4757

 

SHAREHOLDER INFORMATION

LISTINGS AND SECURITY IDENTIFIERS

Name Listing ISIN
Ordinary Shares EDV on TSX KYG3040R1589

SHARE CAPITAL AS OF 31 MARCH 2019

Issued Shares 109,918,066
Fully Diluted Shares 109,940,077