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Endeavour Mining Reports Strong Q4 Results; Full Year Guidance Achieved
Q4 Highlights Successful Houndé mine start-up lifted group production by 38% over Q3-2017 to 204koz and decreased group AISC by 13% to circa $784/oz Group All-i
About this update from Endeavour Mining Plc
[{"type":"text","content":"Q4 Highlights Successful Houndé mine start-up lifted group production by 38% over Q3-2017 to 204koz and decreased group AISC by 13% to circa $784/oz Group All-in Sustaining Margin increased by nearly 70% over Q3-2017 to $83m and the All-in Margin also increased by nearly 70% to $57m FY-2017 Highlights Production up 14% over the prior year to 663koz, attaining the top half of 630 - 675koz guidance AISC down $15/oz over the prior year to circa $869/oz, well within guidance range of $850 - 895/oz Net Debt increased from $221m to $233m since the previous quarter-end due to growth project spend 2018 OUTLOOK Production expected to increase to 670 - 720koz and AISC to decline to $840 - 890/oz Continued strong focus on internal growth: Ity CIL construction progressing on-budget and on-time; first gold pour expected in mid-2019 Kalana intensive exploration program and updated feasibility study underway to prepare for next project after Ity CIL Significant exploration investment of $40 - 45m, of which 40% dedicated to greenfield opportunities George Town, January 23, 2018 - Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce its preliminary financial and operating results for the fourth quarter and full year 2017, with highlights provided in the table below. Table 1: Preliminary Key Operational and Financial Highlights QUARTER ENDED year ENDED Dec. 31, 2017 Sept 30,2017 Dec. 31, 2016 Dec. 31, 2017 Dec. 31,2016 Var. Gold Production, oz 204 148 175 663 584 +14% Realized Gold Price1, $/oz 1,222 1,235 1,205 1,221 1,240 (1%) All-in Sustaining Cost, $/oz 784 906 855 869 884 (2%) All-in Sustaining Margin2, $/oz ~438 329 350 ~353 356 (1%) All-in Sustaining Margin3, $m ~83 49 55 ~231 191 +21% All-in Margin4, $m ~57 34 42 ~160 142 +13% Net Debt At Period End, $m 233 221 25 233 25 n.a. 1Realized Gold Price inclusive of Karma stream; 2Realized Gold Price less AISC per ounce; 3Net revenue less All-in Sustaining Cost;4Net revenue less All-in Sustaining Costs and Non-Sustaining capital Sébastien de Montessus, President & CEO, stated: \"Our strong performance in Q4 was driven by the successful start-up of Houndé which decreased our all-in sustaining costs below $800 for the first time in Endeavour's history. In 2017, we continued to deliver agains...