Endeavour Mining publishes 2021 sustainability report
Endeavour expects to finalise its decarbonisation strategy this year
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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Endeavour expects to finalise its decarbonisation strategy this year
The miner's adjusted earnings per share, EBITDA, production and cash costs all beat Canaccord's projections
The company posted adjusted net earnings of US$122 million, up 21% year-over-year from $101 million
Analysts at Haywood Securities upped their price target on the leading West-Africa-focused gold miner’s shares by $4 to $50
"We are extremely pleased with both the current performance of Sabodala-Massawa and the definitive feasibility study results announced today, as they demonstrate the asset's potential to be a top tier mine capable of producing in excess of
“We believe that, with US$535mln of FCF and a net cash position, Endeavour is well positioned to pay above this level.”
'Our target price remains predicated on a 50/50 blend of a 1.0x multiple applied to our operating NAVPS estimate plus net debt and other corporate adjustments and a 7.0x multiple applied to 2022E EBITDA,' The Canaccord analysts said
2021 production surged 69% to a record, the gold producer said
The company said the board changes underscore its commitment to pursue the highest standards of corporate governance and alignment with the UK Corporate Governance Code
The west-Africa focused gold miner will receive up to US$25mln plus a 2.5% net smelter return (NSR) royalty for Karma
Fourth quarter output and all-in-sustaining-costs (AISC) of 398,000 ounces and US$900 per ounce, both beat Canaccord's previous estimates, while full-year production of 1.536 million ounces exceeded the top end of guidance (1.365 million to
Endeavour, which owns several high-quality gold mines in West Africa, declared a dividend payment of US$70mln for the second half of 2021
Endeavour has a sizeable portfolio of producing and development assets in West Africa
West Africa's largest gold producer generated 382,000 ounces from across its seven mines in the three months to September 30, up from 244,000 ounces in the year-earlier quarter, at an AISC of US$904 per ounce versus US$906 per ounce in 3Q,
The new revolving facility and the bonds will extend the maturities of the company’s debt to 2025 and 2026 respectively
Discovery costs are forecast to be less than US$25 per oz
Barclays has suggested that inclusion in the FTSE 250 could lead to funds acquiring around 10% of Endeavour's issued share capital
Barclays starts its coverage of the miner with an 'overweight' rating.
Adjusted net profits after tax came in at a robust US$183mln
Endeavour is a significant gold miner in West Africa, with a focus on high-quality assets