Business
Endeavour Mining Reports Q3 Gold Production of 49,468 Ozs And $40.7 Million of Operating Cashflow
VANCOUVER, Nov. 14, 2012 /CNW/ - Endeavour Mining Corporation ("Endeavour" or the "Corp...
About this update from Endeavour Mining Plc
[{"type":"text","content":"\n\n\n\n\n\n\n\n\nVANCOUVER, Nov. 14, 2012 /CNW/ - Endeavour Mining Corporation (\"Endeavour\" or the \"Corporation\")\n (TSX:EDV, ASX:EVR, OTCQX:EDVMF) announces strong financial and\n operational results for the third quarter of 2012, including operating\n cash flow from Youga and Nzema mine operations of $40.7 million and\n production of 49,468 ounces of gold. The third quarter results do not\n include results from the Tabakoto mine, acquired via the Avion\n transaction subsequent to quarter end. \n\n\n\n\n\nNeil Woodyer, CEO, stated\n\n\n\"Our Nzema and Youga mines have delivered another strong quarter of\n production and cash flow, with our 9 month production totaling over\n 152,000 ounces and generating $121 million of operating cash flow. Now\n that we have completed the Avion acquisition and added a third mine,\n Tabakoto, our full year 2012 gold production is expected to be\n approximately 300,000 ounces and our growth pipeline has expanded. We\n plan to complete the Tabakoto mill expansion during the first half of\n 2013, which is expected to increase Tabakoto gold production to\n approximately 150,000 ounces per year.  In addition, Agbaou has\n achieved its first construction milestone as concrete pouring began\n this month.  The Agbaou mine is on schedule to contribute an additional\n 100,000 ounces per year from early 2014.\" \n\n\n\n\n\n\n\n\n(All amounts in US dollars unless otherwise indicated)\n\n\nQ3/Nine months 2012 Financial and Operational Highlights\n\n\nGold production at Youga and Nzema totaled 49,468 ounces for the third\n quarter and a total of 152,159 ounces were produced during the nine\n months ended September 2012\n\nTotal cash cost1 (excluding royalties) was $644 per ounce produced at Youga and Nzema\n for the third quarter and for the nine months ended September 2012 was\n $667 per ounce\n\nOperating cash flow from Youga and Nzema mine operations was $40.7\n million for the third quarter and totaled $121.2 million for the nine\n months ended September 2012\n\nYouga and Nzema remain on target to deliver full year production of\n approximately 200,000 ounces within total cash cost1 guidance of $670 to $690 per ounce (cost guidance excludes production\n from Nzema purchased ore which has a cash cost of approximately 58% of\n spot gold price).\n\nAdjusted net earnings were $18.4 million or $...