Business
Endeavour Mining Reports Q2 Results
OPERATIONAL AND FINANCIAL HIGHLIGHTS (for continuing operations) Production of 171koz for Q2-2019, up 42% over Q1-2019 following the successful commissioning of
About this update from Endeavour Mining Plc
[{"type":"text","content":"OPERATIONAL AND FINANCIAL HIGHLIGHTS (for continuing operations) Production of 171koz for Q2-2019, up 42% over Q1-2019 following the successful commissioning of the Ity CIL operation while AISC decreased by $87/oz to $790/oz Well positioned to meet full year 2019 production guidance of 615-695koz and AISC of $760-810/oz Strong performance expected in H2-2019 due to benefit of the newly commissioned Ity CIL operation which achieved strong operating results in Q2-2019 with 58koz production at an AISC of $585/oz Operating Cash Flow before non-cash working capital amounted to $57m in Q2-2019, or $0.52/share, an increase of 19% over Q1-2019 Strong exploration focus in H1-2019 with already $39m spent out of the full year budget of $45-50m Adjusted Net Earnings increased to $9m in Q2-2019 or $0.08/share compared to a loss of $(5)m or $(0.04)/share in Q1-2019 Net Debt amounted to $660m at quarter-end, an increase of only $25m over the previous quarter despite investments of $69m, with a Net Debt/Adjusted EBITDA (LTM) ratio of 2.8x and 1.8x based on Q2-2019 annualized At quarter-end, Endeavour’s available sources of financing and liquidity remained strong at $198m, as the RCF was upsized, with minimal capital requirements outstanding George Town, August 1, 2019 – Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce its financial and operating results for the second quarter of 2019, with highlights provided in the table below. Table 1: Key Operational and Financial Highlights (in US$ million) for continuing operations only QUARTER ENDED SIX MONTHS ENDED June 30, Mar. 31, June 30, June 30, June 30, Δ H1-19 2019 2019 2018 2019 2018 vs. H1-18 PRODUCTION AND AISC HIGHLIGHTS Gold Production, koz 171 121 147 292 299 (2%) Realized Gold Price2, $/oz 1,285 1,252 1,257 1,271 1,275 (0%) All-in Sustaining Cost1, $/oz 790 877 780 826 732 +13% All-in Sustaining Margin1,3, $/oz 494 375 478 445 543 (18%) CASH FLOW HIGHLIGHTS All-in Sustaining Margin4, $m 84 45 72 130 165 (22%) All-in Margin5, $m 46 22 52 68 116 (41%) Operating Cash Flow Before Non-Cash Working Capital, $m 57 48 65 105 149 (29%) Cash Flow per Share, $/share 0.52 0.44 0.60 0.96 1.35 (29%) PROFITABILITY HIGHLIGHTS &...