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Endeavour Mining Reports Q1-2019 Results
ENDEAVOUR REPORTS Q1-2019 RESULTSWell positioned to meet full year 2019 production and AISC guidance; Ity CIL project successfully commissioned 4-months ahead o
About this update from Endeavour Mining Plc
[{"type":"text","content":" ENDEAVOUR REPORTS Q1-2019 RESULTSWell positioned to meet full year 2019 production and AISC guidance; Ity CIL project successfully commissioned 4-months ahead of schedule at full nameplate capacity View News Release in PDF View Presentation OPERATIONAL AND FINANCIAL Highlights (for continuing operations) Q1-2019 performance in line with expectations with a production of 121koz, at an AISC of $877/oz; decreasing following a record Q4-2018 as the Ity heap leach operation ceased in 2018 ahead of the CIL commissioning Well positioned to meet full year 2019 production guidance of 615-695koz and AISC of $760-810/oz, with strong growth starting in Q2-2019: Ity CIL project commissioned in early Q2-2019 and operating at full nameplate capacity Higher process grades expected across the group Continued exploration success with already $15m spent in Q1-2019, over a third of the full-year budget Operating Cash Flow before non-cash working capital amounted to $48m in Q1-2019, or $0.44/share, a decrease of only $5m compared to Q4-2018 despite 53koz fewer ounces produced, due to the planned reduction of stockpiles and a higher gold price Adjusted Net Earnings of $(5)m or $(0.04)/share in Q1-2019 Net Debt of $635m at quarter-end, an expected increase from $536m at year-end 2018, mainly due to the construction spend for the Ity CIL project At quarter-end, Endeavour's available sources of financing and liquidity remained strong at $144m, with minimal capital requirement outstanding as the Ity CIL project began commercial production in early Q2-2019 George Town, May 1, 2019 - Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce its financial and operating results for the first quarter of 2019, with highlights provided in the table below. Table 1: Key Operational and Financial Highlights For Continuing operations (in US$ million unless stated otherwise) QUARTER ENDED Mar. 31, Dec. 31, Mar. 31, Var. Q1-19 vs. Q4-18 2019 2018 2018 PRODUCTION AND AISC HIGHLIGHTS Gold Production, koz 121 174 152 (31%) Realized Gold Price2, $/oz 1,252 1,198 1,293 4% All-in Sustaining Cost1, $/oz 877 707 685 24% All-in Sustaining Margin1,3, $/oz 375 491 601 (24%) CASH FLOW HIGHLIGHTS 1 All-in Sustaining Margin4, $m 45 85 92 (47%) All-in Margin5, $m 22 40 63 (44%) Oper...