Endeavour Mining ends 2018 in fine form eclipsing production and cost guidance

ENDEAVOUR Mining ended its 2018 financial year in fine form increasing production in the final quarter by 25% – enough to take full year production to 612,000 ounces of gold, 52% better than in 2017 and in excess of guidance.

All-in sustaining costs (AISC) came in at $712/oz, some 13% better than the third quarter and well below the $760 to $810/oz target set down in guidance.

“The first full-year contribution from Houndé, coupled with the successful management of our portfolio, have sustainably decreased our all-in sustaining costs to below our strategic target of $800/oz,” said Sébastien de Montessus, President & CEO of Endeavour.

“2019 is expected to be another strong year as we look forward to the first gold pour at the Ity CIL plant in early Q2 2019, where construction continues to progress ahead of schedule and on budget,” he said. “Meanwhile, we will maintain our aggressive exploration program to build on the significant success achieved thus far.”

Endeavour said that its exploration activity would continue to be strong this year with a company-wide programme of some $45m to $50m having been approved for brownfield and green fields exploration.