Business
Endeavour Mining Declares Commercial Production at Houndé Project in Burkina Faso
HIGHLIGHTS Commercial production declared more than 2 months ahead of schedule following the rapid construction and ramp-up periods, with nameplate capacity ach
About this update from Endeavour Mining Plc
[{"type":"text","content":"HIGHLIGHTS Commercial production declared more than 2 months ahead of schedule following the rapid construction and ramp-up periods, with nameplate capacity achieved within weeks following the introduction of ore into the mill Construction was completed $15 million below the initial $328 million budget Performance trial testing was completed with all key metrics (including process rates, mill availability, and recovery rates) above design parameters Mining activities are progressing well with nearly 3-months of feed already stockpiled and positive grade reconciliation against the resource model being achieved No Lost-Time-Injury occurred over the 7-million manhours worked over the construction period Hounde is expecetd to produce between 30,000-35,000 ounces at an AISC of $550-600/oz for Q4-2017 Exploration drilling has discovered several high-grade satelite mineralizations, for which results are expected to be published in the coming weeks Abidjan, October 31, 2017 - Endeavour Mining Corporation (TSX:EDV) (OTCQX:EDVMF) (\"Endeavour\") (\"the Company\") is pleased to announce that the construction of its Houndé Project in Burkina Faso has been completed $15 million below its initial capital budget with commercial production being declared more than two months ahead of schedule as a stable nameplate capacity was achieved within weeks from first ore being introduced into the plant on September 25, 2017. Sébastien de Montessus, President & CEO, stated: \"We are extremely proud to declare commercial production ahead of schedule, below-budget, and most importantly at full nameplate capacity with all key metrics ahead of the assumptions set out in the feasibility study. I would like to acknowledge the hard work and dedication of our integrated project team led by Jeremy Langford, our COO & EVP Projects, which has successfully designed and delivered the project over the past 4 years from feasibility through to commercial production. As demonstrated by its very low All-In-Sustaining Costs of below $600/oz, Hounde is expected to immediately start contributing to the Group's free cash flow generation. After unlocking value by successfully bringing the project into production, we now look forward to quickly creating further value through our exploration program.\" The Houndé Mine began processing...