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Endeavour Mining Produces 663,000 Ounces of Gold in Full Year 2017
ENDEAVOUR REPORTS STRONG FY-2017 RESULTS Q4 AND FY-2017 HIGHLIGHTS Houndé's successful commissioning lifted group production by 38% compared with Q3-2017 to 204
About this update from Endeavour Mining Plc
[{"type":"text","content":" ENDEAVOUR REPORTS STRONG FY-2017 RESULTS Q4 AND FY-2017 HIGHLIGHTS Houndé's successful commissioning lifted group production by 38% compared with Q3-2017 to 204koz and decreased group AISC by 13% to $785/oz Full year production up 12% year-over-year to 663koz; AISC down $17/oz to $869/oz, in line with FY 2017 guidance All-in Margin increased by 85% in Q4 over Q3, totalling $162m for the year, in line with FY 2017 guidance Operating Cash Flow before non-cash working capital increased by $58m in Q4 over Q3 due to Houndé start-up, totalling $235m for 2017, representing a 24% YoY increase Net Debt of $232m at year end, up slightly from $221m at the end of Q3, as growth project spend was offset by increased operating cash flow and $30m in net equity proceeds Well positioned to finance growth projects with $323m in available sources of financing and liquidity at year-end, which increased to $503m following the convertible bond issuance which closed in February Adjusted Net Earnings, mainly adjusted for an impairment charge on Tabakoto and a loss on the sale of Nzema, amounted to $66m for the full year, or $0.67/share Group P&P reserves up 2.0Moz year-over-year to 9.1Moz while M&I resources up 2.3Moz to 14.9Moz 2018 OUTLOOK Production expected to increase to 670 - 720koz and AISC to decline to $840 - 890/oz Continued strong focus on internal growth: Ity CIL construction progressing on-budget and on-time; first gold pour expected in mid-2019 Kalana intensive exploration program expected to yield resource update by mid-year with updated feasibility study by year-end Significant exploration investment of $40 - 45m, of which 40% is dedicated to greenfield opportunities George Town, March 13, 2018 - Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce its financial and operating results for the fourth quarter and full year 2017, with highlights provided in the table below. Table 1: Key Operational and Financial Highlights QUARTER ENDED YEAR ENDED Dec. 31, 2017 Sept 30,2017 Dec. 31, 2016 Dec. 31, 2017 Dec. 31,2016 Change PRODUCTION AND AISC HIGHLIGHTS (includes discontinued operations) Total Gold Production, oz 204 148 175 663 592 +12% Realized Gold Price2, $/oz 1,241 1,235 1,177 1,222 1,219 0% All-in Sustaining Cost1, $/...