Business
Endeavour Mining reports gold production of 255,000 ozs and $20m debt payment in July
VANCOUVER , July 8, 2015 /CNW/ - Endeavour Mining Corporation ("Endeavour" or the "Corpo...
About this update from Endeavour Mining Plc
[{"type":"text","content":"\n\nVANCOUVER, July 8, 2015 /CNW/ - Endeavour Mining Corporation (\"Endeavour\" or the \"Corporation\") (TSX:EDV) (ASX:EVR) (OTCQX:EDVMF) announces record gold production of 131,165 ounces during Q2 2015 and half year production of 254,909 ounces. Endeavour ended Q2 2015 with cash balances totalling $52 million. Based on the strong results in Q2 2015, a $20 million principal payment was made earlier today to further reduce the drawn amount on the revolving credit facility to $260 million. \n\nNeil Woodyer, CEO, stated\n\n\"With great performance from our mines so far this year, we expect to achieve the upper end of our 475,000 to 500,000 ounce gold production guidance range for 2015.  AISC per ounce will be reported in the Q2 2015 financial results to be released in late July, however, it is expected that our savings trend will continue and Q2 2015 will be below our Q1 2015 cost of $946 and below our full-year $930 to $980 guidance range as we benefit from favourable foreign exchange rates and fuel cost savings.  These savings have contributed to the Tabakoto Mine achieving less than $1,000 AISC/oz in Q2 2015.\"\n\nTable 1: H1 2015 Gold Production (in ounces)\n\n\n\n\n\nAgbaou\n\n\nYouga\n\n\nTabakoto\n\n\nNzema\n\n\nTotal\n\n\n\nQ1 2015\n\n\n45,322\n\n\n17,868\n\n\n33,574\n\n\n26,979\n\n\n123,743\n\n\n\nQ2 2015\n\n\n40,509\n\n\n18,241\n\n\n39,574\n\n\n32,842\n\n\n131,166\n\n\n\nHalf-year total\n\n\n85,831\n\n\n36,109\n\n\n73,148\n\n\n59,821\n\n\n254,909\n\n\nThe preliminary Q2 2015 production and other financial information in this news release are approximate figures and may differ from the final results included in the Q2 2015 financial statements and MD&A.\n\nAbout Endeavour Mining Corporation\n\nEndeavour is a Canadian-based intermediate gold mining company producing 500,000 ounces per year from four mines in West Africa.  Endeavour is focused on effectively managing its existing assets to maximize cash flow as well as pursuing organic and strategic growth opportunities that benefit from its management and operational expertise.\n\nOn behalf of Endeavour Mining Corporation\n\nNeil WoodyerChief Executive Officer\n\nThis news release contains \"forward-looking statements\" including but not limited to, statements with respect to Endeavour's plans and operating performance, the estimation of mineral reserves...