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Gold & silver

Endeavour Mining beats gold production guidance for 2021

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 Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) said it produced a record 1.536mln ounces of gold in 2021 at an all-in sustaining cost of around US$880 per ounce, marking a ninth consecutive year of achieving or beating annual guidance.

It produced 390,000 ounces of gold in the fourth quarter of 2021, up 4% over production for the third quarter.

Full year production guidance for 2022 is set at between1.4mln and 1.5mln ounces at all-in costs of between US$890 and US$940 per ounce.

Net cash at year end was US$76mln.

The company declared a dividend payment of US$70mln for the second half of 2021, taking the total payout for the year to US$140mln.

Share buybacks also continue.

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