Business
Endeavour Mining Reports Strong FY-2019 Results
2019 production up 6% over 2018 · Net Debt reduced by $132m in H2-2019 · Strong growth expected for 2020 Q4 AND FY-2019 HIGHLIGHTS (for continuing operations) Q
About this update from Endeavour Mining Plc
[{"type":"text","content":"2019 production up 6% over 2018 · Net Debt reduced by $132m in H2-2019 · Strong growth expected for 2020 Q4 AND FY-2019 HIGHLIGHTS (for continuing operations) Q4-2019 production of 178koz at an AISC of $819/oz, remaining fairly flat over Q3-2019 FY-2019 production of 651koz at an AISC of $818/oz, achieving guidance for the 7th consecutive year Operating Cash Flow of $120m or $1.10/share in Q4-2019, up 25% over Q3-2019; Operating Cash Flow for FY-2019 up 20% over FY-2018 to $302m or $2.75/share Following nearly four years of intensive growth-capital investment, Net Debt was reduced by $52m in Q3-2019 and by a further $80m in Q4-2019, marking a decrease of $132m in H2-2019 to reach $528m at year end Healthy Net Debt / Adjusted EBITDA (LTM) of 1.48x at year end after reaching a peak of 2.96x at the end of Q1-2019 Adjusted Net Earnings for Q4-2019 up 13% over Q3-2019 to $37m or $0.34/share; Adjusted Net Earnings for FY-2019 up 39% over FY-2018 to $74m or $0.67/share Group M&I resources increased by 1.2Moz year-on-year to 15.1Moz, net of mine depletion Group P&P reserves remained flat year-on-year at 7.9Moz; increases expected in Q2-2020 with the conversion of the maiden 1Moz Indicated resource for Kari West and Kari Center George Town, March 9, 2020 – Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce its financial and operating results for the fourth quarter and full year 2019, with highlights provided in the table below. Table 1: Key Operational and Financial Highlights For continuing operations only (in US$ million) QUARTER ENDED YEAR ENDED Dec. 31, Sep. 30, Dec. 31, Dec. 31, Dec. 31, Δ 2019 2019 2018 2019 2018 PRODUCTION AND AISC HIGHLIGHTS Gold Production, koz 178 181 174 651 612 +6% Gold Sold, koz 172 185 173 649 612 +6% Realized Gold Price2, $/oz 1,445 1,443 1,198 1,366 1,228 +11% All-in Sustaining Cost1, $/oz 819 803 707 818 744 +10% All-in Sustaining Margin1,3, $/oz 627 639 491 549 484 +13% CASH FLOW HIGHLIGHTS 1 All-in Sustaining Margin4, $m 108 118 85 356 296 +20% All-in Margin5, $m 85 106 66 259 210 +23% Operating Cash Flow Before Non-Cash Working Capital, $m 73 115 53 294 261 +13% Operating Cash Flow Before Non-Cash Working Capital, $/share 0.67 1.05 0.49 2...