logo-loader
viewEndeavour Mining Corp

Endeavour Mining gains on improved Q2 production, expects to hit top end of 2014 guidance

goldbullein350_53c69d97a5bc6.jpg

Endeavour Mining's (TSE:EDV) (ASX:EVR) (OTCQX:EDVMF) shares rallied on Wednesday after the gold miner reported strong second quarter production, saying it expects to hit the upper end of its forecast for full year output.

The Canadian gold miner, which produces more than 400,000 ounces per year from four mines in West Africa, said it produced 122,517 gold ounces in the second quarter, up from 105,912 ounces in the first quarter. 

Each of Endeavour's four mines either achieved or exceeded key operating parameters, according to the Vancouver-based company's statement released late Tuesday.

"Agbaou and Nzema are performing above expectations and Tabakoto is now positioned to have a strong second half of 2014 as we are ramping up ore production from the new Segala underground mine," said CEO Neil Woodyer in the release. 

"With the solid performance from our mines so far this year, we consider that we will be at the upper end of our 400,000 to 440,000 ounce gold production guidance range for 2014."

Endeavour also said it expects its second quarter all-in sustaining costs per ounce will be improved as compared to $1,059 an ounce in the first quarter. All-in and cash costs will be reported in the company's full second quarter financial results in August. 

Shares of the West Africa-focused gold miner added almost 8 percent to 95 Canadian cents as of 11:20am ET on Wednesday in Toronto.

Quick facts: Endeavour Mining Corp

Price: 33.18 CAD

TSX:EDV
Market: TSX
Market Cap: $3.68 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Endeavour Mining Corp named herein, including the promotion by the Company of Endeavour Mining Corp in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Endeavour Mining's head of exploration and growth details his 2019 ambitions

Patrick Bouisset, executive vice president of exploration and growth at Endeavour Mining  Corporation (TSE:EDV), speaks to Proactive's Andrew Scott while in London. The miner has five operating mines in the Birimian greenstone belt - in the Ivory Coast, it has the Agbaou and Ity...

on 24/5/19

2 min read