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Endeavour Mining Reports Strong FY-2018 Results
ENDEAVOUR REPORTS STRONG FY-2018 RESULTS View Presentation Q4 AND FY-2018 HIGHLIGHTS(for continuing operations) Q4-2018 production up 25% over Q3-2018 to 174koz
About this update from Endeavour Mining Plc
[{"type":"text","content":" ENDEAVOUR REPORTS STRONG FY-2018 RESULTS View Presentation Q4 AND FY-2018 HIGHLIGHTS(for continuing operations) Q4-2018 production up 25% over Q3-2018 to 174koz and AISC down 14% to $707/oz FY-2018 production up 52% over the prior year to 612koz, beating the top end of the 555-590koz guidance FY-2018 AISC down $25/oz over the prior year to $744/oz, well below the guidance range of $760-810/oz All-in Margin up $17m in Q4 over Q3 to $40m; FY-2018 up 80% over 2017 to $184m Operating Cash Flow before non-cash working capital of $53m or $0.49/share in Q4; FY-2018 up 64% over 2017 to $261m or 2.43/share Adjusted Net Earnings up from $(1)m in Q3 to $16m in Q4 or $0.15/share, amounting to $0.49/share for FY-2018 Net Debt of $536m at year end, up from $232m at the end of 2017, due to the accelerated construction of Ity CIL project Group M&I resources up 0.9Moz year-over-year to 14Moz; P&P reserves down 0.6Moz to 8Moz as 1Moz Kari Pump maiden Indicated resource is expected to be converted to reserves by mid-year 2019 OUTLOOK FY-2019 production expected to increase to 615-695koz and AISC expected to remain low at $760-810/oz Ity CIL construction progressing on-budget and ahead of schedule with the first gold pour expected in early Q2-2019 Significant exploration investment of $45-50m, mainly focused on our Houndé and Ity flagship mines George Town, March 5, 2019 - Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce its financial and operating results for the fourth quarter and full year 2018, with highlights provided in the table below. Table 1: Key Operational and Financial Highlights QUARTER ENDED YEAR ENDED For continuing operations Dec. 31, Sep. 30, Dec. 31, Dec. 31, Dec. 31, Variance (in US$ million) 2018 2018 2017 2018 2017 PRODUCTION AND AISC HIGHLIGHTS Gold Production, koz 174 139 151 612 403 +52% Realized Gold Price2, $/oz 1,198 1,161 1,228 1,228 1,199 +2% All-in Sustaining Cost1, $/oz 707 820 649 744 769 (3%) All-in Sustaining Margin1,3, $/oz 490 341 581 484 436 +11% CASH FLOW HIGHLIGHTS 1 All-in Sustaining Margin4, $m 85 46 81 296 171 +73% All-in Margin5, $m 40 23 57 184 102 +80% Operating Cash Flow Before Non-Cash Working Capital, $m&nb...