Business
Endeavour Mining Closes Sale of Non-core Finkolo JV and Receives $16 Million Cash
VANCOUVER , Oct. 28, 2013 /CNW/ - Endeavour Mining Corporation (TSX:EDV, ASX:EVR, OTCQX...
About this update from Endeavour Mining Plc
[{"type":"text","content":"\n\n\nVANCOUVER, Oct. 28, 2013 /CNW/ - Endeavour Mining Corporation (TSX:EDV, ASX:EVR, OTCQX:EDVMF) announces\n it has closed the main portion of the previously announced sale of its\n non-core 40% interest in the Finkolo Joint Venture in Mali to Resolute\n Mining Limited (ASX:RSG) for net proceeds of approximately $16 million\n in cash (after payment of applicable capital gains taxes). A further\n payment of $3 million is expected upon the transfer of one remaining\n area to Resolute. By mutual agreement, the closing date for the Finkolo\n transaction had been extended several times to allow for satisfaction\n of all transfer approvals from the State of Mali. \n\n\nAbout Endeavour Mining Corporation\n\n\nEndeavour is a gold producer delivering growth.  Endeavour owns three\n gold mines producing more than 300,000 ounces per year in Mali, Ghana\n and Burkina Faso.  Endeavour's annual gold production is forecast to\n exceed 400,000 ounces per year during 2014, including the start-up of\n production at the Agbaou Gold Mine in Cote d'Ivoire scheduled for Q1\n 2014.  In addition, a January 2013 PEA shows potential for\n approximately 150,000 ounces per year from the Houndé Project in\n Burkina Faso, which is being assessed by a feasibility study during\n 2013.\n\n\nEndeavour Mining Corporation is listed on the TSX (symbol EDV) and ASX\n (symbol EVR), and also trades on the OTCQX (symbol EDVMF).\n\n\nOn behalf of Endeavour Mining Corporation\n\n\nNeil WoodyerChief Executive Officer\n\n\nThis news release contains \"forward-looking statements\" including but\n not limited to, statements with respect to Endeavour's plans and\n operating performance, the estimation of mineral reserves and\n resources, the timing and amount of estimated future production, costs\n of future production, future capital expenditures, and the success of\n exploration activities. Generally, these forward-looking statements can\n be identified by the use of forward-looking terminology such as\n \"expects\", \"expected\", \"budgeted\", \"forecasts\" and \"anticipates\".\n Forward-looking statements, while based on management's best estimates\n and assumptions, are subject to risks and uncertainties that may cause\n actual results to be materially different from those expressed or\n implied by such forward-looking statements, including but not...