Endeavour Mining Reports 2012 All-In Margin of $130 Million and Updates 2013 Outlook

About this update from Endeavour Mining Plc

[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, March 27, 2013 /CNW/ - Endeavour Mining Corporation (\"Endeavour\" or the \"Corporation\")\n (TSX:EDV, ASX:EVR, OTCQX:EDVMF) announces strong financial and\n operational results for 2012 with production of 310,778 ounces of gold,\n including full 2012 production from the Tabakoto Mine.  Endeavour\n acquired the Tabakoto Mine (and the Houndé and Kofi projects) on\n October 18, 2012, which requires Endeavour's audited financial results\n to include only the 75 day operating period from October 18 to December\n 31, 2012 for Tabakoto.  For 2012, Endeavour's all-in sustaining cash\n cost per ounce produced was $1,077 leading to an all-in sustaining\n margin of $130 million.  The guidance range for 2013 all-in sustaining\n cash cost per ounce is $1,055 to $1,155 which includes revised cash\n cost guidance ranges for the Nzema and Tabakoto mines.\n\n\n(All amounts in US dollars unless otherwise indicated)\n\n\n2012 Financial and Operating Highlights\n\n\n\n2012 gold production, adjusted for the partial year inclusion of\n Tabakoto, was 220,462 ounces\n\n\n\n\n2012 gold sold, adjusted for the partial year inclusion of Tabakoto, was\n 218,887 ounces, which generated a mine cash margin of $179 million\n (equivalent to 107,366 ounces of gold), and after corporate costs,\n sustaining capital and near-mine exploration expenses generated an\n all-in sustaining margin of $130 million (equivalent to 78,038 ounces\n of gold)\n\n\n\n\nTotal cash cost per ounce produced was $767\n\n\n\n\nIncluding royalties, corporate costs, sustaining capital and near-mine\n exploration, the all-in sustaining cash cost per ounce produced in 2012\n was $1,077.  See Table 2 for calculation details\n\n\n\n\nThe all-in sustaining margin was 36%\n\n\n\n\nDuring 2012, Endeavour invested $106 million in new mine construction,\n development and exploration, as detailed in Table 1, leading to free\n cash flow of $24.7 million after all operating and development\n activities\n\n\n\n\nAdjusted net earnings were $35.8 million or $0.13 per share for the year\n\n\n\n\nAs of December 31, 2012, Endeavour had cash and cash equivalents of\n $105.9 million and 27,000 ounces of gold ($45.2 million) with long-term\n debt of $200 million drawn from a corporate facility\n\n\n\n\nEndeavour's attributable proven and probable mineral reserve...

More updates from Endeavour Mining Plc