Endeavour Mining announces positive feasibility study for Houndé Gold Project in Burkina Faso

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[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Nov. 6, 2013 /CNW/ - Endeavour Mining Corporation (\"Endeavour\") (TSX:EDV, ASX:EVR,\n OTCQX:EDVMF) announces the results of a positive NI 43-101 compliant\n Feasibility Study (\"FS\") of its Houndé Gold Project, an open pit gold\n mine with an initial life of mine (\"LOM\") of over 8 years.  The FS will\n be presented to the government of Burkina Faso as part of the on-going\n permitting process.  \n\n\n(All amounts in US dollars unless otherwise indicated)\n\n\nHoundé FS Highlights, on a 100% basis, include:\n\n\nAverage annual production of 178,000 gold ozs per year over an 8.1 year\n LOM, with total LOM production of 1.44 million ozs.\n\n\nAn average gold recovery of 93.3% via a SAG/ball mill (SABC) grinding\n circuit followed by gravity/CIL plant capable of treating 3.0 million\n tonnes per annum (Mtpa) of ore (nameplate capacity: 9,000 tpd).\n\n\nOwner operated open pit mining and Proven and Probable reserve of 25\n million tonnes with an average grade of 1.95 g/t Au.\n\n\nInitial start-up capital of $315 million (including working capital,\n import duties, and contingency). LOM sustaining capital of $62 million,\n and $26 million of rehabilitation and closure costs.\n\n\nForecast LOM direct cash cost of $636/oz (excluding royalties) and\n all-in sustaining cost of $775/oz (including royalties and\n rehabilitation and closure).\n\n\nThe project yields, on an after-tax basis:\n\n\n \n\n\n \n\n\nAt $1,300/oz Gold Price (Base Case)\n\n\nAt $1,500/ozGold Price(Sensitivity)\n\n\nNPV 0%\n\n\n$ million\n\n\n$364\n\n\n$593\n\n\nNPV 5%\n\n\n$ million\n\n\n$230\n\n\n$408\n\n\nIRR\n\n\n% \n\n\n22.4%\n\n\n33.4%\n\n\n\n\n\nNeil Woodyer, CEO, stated\n\n\n\"Houndé is a strong gold project with potential to produce approximately\n 180,000 ozs per year at an all-in sustaining cost of under $800 per\n ounce.  At a $1,300 gold price, Houndé has an attractive after-tax IRR\n of 22% illustrating strong cash flow generation.  The project also\n benefits from excellent infrastructure, our current Agbaou mine\n building expertise, and our Burkina Faso operating experience at\n Youga.  While work continues on obtaining the Houndé mining permit, we\n are evaluating how best to integrate Houndé into Endeavour's production\n growth plans.\"\n\n\nManagement Co...

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