Business
Endeavour Mining reports record Q3 gold production of 88,445 oz and all-in sustaining cost of $1,057/oz
VANCOUVER , Nov. 12, 2013 /CNW/ - Endeavour Mining Corporation ("Endeavour" or the "Corpo...
About this update from Endeavour Mining Plc
[{"type":"text","content":"\n\n\nVANCOUVER, Nov. 12, 2013 /CNW/ - Endeavour Mining Corporation (\"Endeavour\" or the \"Corporation\") (TSX:\n EDV) (ASX: EVR) (OTCQX: EDVMF) announces record gold production of\n 88,445 ounces in Q3/2013, representing a 17% increase over Q2/2013,\n with the increase driven by the Tabakoto mill expansion.  In addition\n to production growth, cost reduction measures continued to take effect\n with the all-in sustaining cost decreasing to $1,057 per ounce sold in\n Q3/2013 compared to $1,086 per ounce for the nine months ended\n September 30, 2013.\n\n\n(All amounts in US dollars unless otherwise indicated)\n\n\nQ3/2013 Financial and Operating Highlights\n\n\n\nGold production was 88,445 ounces, which compares to 75,421 ounces in\n Q2/2013\n\n\n\n\nGold sold was 90,997 ounces for a mine cash margin of $35.4 million, and\n after corporate costs, sustaining capital and near-mine exploration\n expenses the all-in sustaining margin was $25.0 million (21% margin).\n See Table 1 for details\n\n\n\n\nThe all-in sustaining cost per ounce sold (\"AISC\") was $1,057, which is\n inclusive of cash costs per ounce sold of $869.  See Table 1 for AISC\n details and Table 2 for detailed cash cost by mine\n\n\n\n\nEndeavour invested $43.1 million in new mine construction, development\n and exploration, as detailed in Table 3, which includes $31.5 million\n for Agbaou construction\n\n\n\n\nAgbaou continues on schedule with the completion of the 91 kV overhead\n power line installation and the start of mining activities. \n Endeavour's fourth mine is on-plan for commercial production in Q1/2014\n\n\n\n\nAdjusted net loss of $2.1 million or $0.00 per share\n\n\n\n\nAs of September 30, 2013, Endeavour had cash and cash equivalents of\n $119.4 million with long-term debt of $300 million drawn from the\n corporate facility.  In addition, cash proceeds of $17 million was\n received after quarter end from the completed Finkolo sale\n\n\n\n\nDuring the quarter, Endeavour increased its corporate facility to $300\n million, with an additional $50 million available on completion of\n Agbaou\n\n\n\n\n\n\n\nFinancial Statements and related MD&A will be available on SEDAR, the\n ASX website, OTC Markets website, and in the Investor Relations section\n of Endeavour's website www.endeavourmining.com.\n\n\nIn order to access the Corporat...