Business
Endeavour Mining Delivers 324,275 oz in 2013 and Forecasts 400,000 to 440,000 oz in 2014
EDV: Toronto Stock Exchange EVR: Australian Securities Exchange VANCOUVER , Jan...
About this update from Endeavour Mining Plc
[{"type":"text","content":"\n\n\nEDV: Toronto Stock Exchange\nEVR: Australian Securities Exchange\n\n\n\nVANCOUVER, Jan. 29, 2014 /CNW/ - Endeavour Mining Corporation (\"Endeavour\" or the \"Corporation\")\n (TSX:EDV) (ASX:EVR) (OTCQX:EDVMF) announces 2013 gold production of\n 324,275 ounces which includes 6,132 ounces from the new Agbaou Mine.\n For 2014, Endeavour is providing gold production guidance of 400,000 to\n 440,000 ounces at an all-in sustaining cost per ounce of $985 to\n $1,070.  At $1,250 gold price and using mid-guidance values for gold\n production, royalties, cash costs, corporate G&A and sustaining\n capital, Endeavour is expecting to generate an AISC margin of\n approximately $95 million.\n\n\n(All amounts in US dollars unless otherwise indicated)\n\n\n2013 Operating Highlights:\n\n\n\nRecord gold production of 324,275 ounces (2013 guidance: 315,000 to\n 330,000 ounces)\n\n\nAll-in sustaining cost estimated at under $1,100 per ounce (2013\n guidance: $1,055 to $1,155)\n\n\nExceptional safety record at all mining operations\n\n\nConstruction of Agbaou completed with the first gold pour in November\n 2013, well ahead of the original Q1/2014 schedule.  Commercial\n production was declared on January 27, 2014\n\n\nExpansion of the Tabakoto Mill with design capacity of 4,000 tpd\n achieved in June 2013\n\n\nA positive Feasibility Study was delivered for the Houndé Gold Project\n in Burkina Faso, with gold production of 180,000 ounces per year at an\n all-in sustaining cost of under $800 per ounce. Houndé is currently in\n the permitting stage\n\n\n\n\nNeil Woodyer, CEO, stated\n\n\n\"2013 was a successful year with production of over 324,000 ounces from\n our three mines and our newly constructed Agbaou mine that poured its\n first gold in November.  Agbaou achieved commercial production during\n January 2014 and we are very pleased to report it was constructed for\n less than our $160 million budget.  \n\n\nDuring 2014, we are forecasting cash costs of $775 to $825 per ounce and\n AISC of $985 to $1,070 per ounce.  Our 2014 AISC cost definition\n includes all underground development expenses as \"sustaining capital\"\n at Tabakoto and at Segala from mid-2014 once commercial stoping ore\n production is achieved.  Our 2014 guidance range represents an\n approximate 10% improvement as compared to 20...