Endeavour Mining reports Q2 all-in sustaining cost of $1,038/oz

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[{"type":"text","content":"\n\n\nVANCOUVER, Aug. 14, 2013 /CNW/ - Endeavour Mining Corporation (\"Endeavour\" or the \"Corporation\")\n (TSX:EDV, ASX:EVR, OTCQX:EDVMF) announces Q2/2013 gold production of\n 75,421 ounces and an all-in sustaining margin of $25.4 million.  The\n all-in sustaining cost was $1,038 per ounce sold, down from $1,083 per\n ounce in Q1, as cost reduction measures began to take effect. \n\n\n(All amounts in US dollars unless otherwise indicated)\n\n\nQ2/2013 Financial and Operating Highlights\n\n\n\nGold production was 75,421 ounces\n\nGold sold was 73,004 ounces for a mine cash margin of $30.7 million\n (equivalent to 22,157 ounces of gold), and after corporate costs,\n sustaining capital and near-mine exploration expenses generated an\n all-in sustaining margin of $25.4 million (equivalent to 18,307 ounces\n of gold or a 25% margin). See Table 1 for details\n\nTotal cash cost per ounce sold was $890. See Table 2 for details\n\nIncluding royalties, corporate costs, sustaining capital and near-mine\n exploration, the all-in sustaining cost per ounce sold was $1,038.  See\n Table 3 for details\n\nEndeavour invested $59.0 million in new mine construction, development\n and exploration, as detailed in Table 4, which included $40.4 million\n for Agbaou construction\n\nAdjusted net loss of $11.6 million or $0.03 per share\n\nThe reported net loss for Q2/2013 included an after-tax non-cash\n impairment charge of $225.4 million, largely as a result of recording a\n $141.8 million charge associated with the Nzema Mine.  Earlier in the\n year, a PEA study on the Nzema Sulphides indicated that additional\n sulphide resources needed to be identified before proceeding with any\n further studies.  The decision to defer further sulphides exploration,\n combined with the recent decline in gold price, has led to this\n impairment charge at Nzema.  The drop in the gold price has also led to\n an after-tax, non-cash impairment charge of $24.7 million at the Youga\n Mine and $5.6 million associated with non-core exploration properties.\n The impairment charge also included $53.3 million of goodwill.\n\nAs of June 30, 2013, Endeavour had cash and cash equivalents of $62.2\n million with long-term debt of $200 million drawn from a corporate\n facility\n\nSubsequent to quarter end, Endeavour increased its corporate facility to\n...

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