Endeavour Mining boosts Houndé mine's resource base by an additional 554,000 gold ounces
The added ounces, which fall under the higher-confidence measured and indicated category, bring Houndé’s total resource base to 4.5 million gold ounces
Company
TSE:EDV
Endeavour Mining is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Côte d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets. A member of the World Gold Council, the company is committed to the principles of responsible mining and delivering meaningful value to people and society.
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The added ounces, which fall under the higher-confidence measured and indicated category, bring Houndé’s total resource base to 4.5 million gold ounces
Indicated resources grew to 7.9 million tons at 2.7 grams per ton (g/t) gold for 689,000 ounces and inferred resources came in at 800,000 tons at 2.1 g/t gold for 52,000 ounces
The company received a mining permit extension from the Burkina Faso government to cover the full Kari area, which hosts the Kari Pump, Kari West and Kari Center discoveries
The offering was made at a price of C$30.27 per share, a 44% premium to the share price prior to the SEMAFO acquisition announcement in March
The Endeavour board is now 44% represented by women, says the group, while director Alison Baker was also named chair of the audit committee
On May 26, Endeavour reported that its shareholders had voted “overwhelmingly” in favour of the deal
The deal brings together six mines with strong cash flow into one portfolio, the opportunity to optimize assets, and a growth pipeline
The report examines Endeavour's progress toward the Responsible Gold Mining Principles established by the World Gold Council
The group operates the Agbaou and Ity mines in Côte d’Ivoire and the Houndé and Karma mines in Burkina Faso
Endeavour will match the funds to result in a donation of C$1 million, which when added to previous spending on community initiatives, brings the miner’s total donation to C$6 million
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A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
The deal brings together six mines with strong cash flow into one portfolio, the opportunity to optimize assets, and a growth pipeline
The firm enacted a business continuity plan for its four operations across Côte d’Ivoire and Burkina Faso, including a mandatory 14-day quarantine for any new arrivals
The miner is focused on West Africa and operates four mines across Côte d’Ivoire and Burkina Faso
Alison Baker is currently a non-executive director and audit committee chair at KAZ Minerals and Helios Towers
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
La Plaque has a maiden proved and probable reserve of 5.5 Mt at 2.34 g/t of gold for 415,000 ounces
It achieved output guidance in 2019 for the seventh year in a row, at 651,000 ounces of gold, up 6% from 2018
The Canadian miner said the quality of information received ahead of its offer deadline had been " insufficient" for it to be confident in proceeding with its merger efforts
As revealed on December 3 this year, Endeavour lodged an all-share bid for the miner