Endeavour Mining Plc · TSX:EDV
Endeavour Mining — Endeavour Financial — Q3 2010 Earnings Presentation
14 slides from Endeavour Mining's earnings presentation, May 13, 2010
Slide 1: Management Presentation: Financial Results for Third-Quarter ended March 31, 2010
Management Presentation May 13, 2010 Financial Results for Third‐Quarter ended March 31, 2010 A gold investment company TSX‐Listed, Symbol EDV
Slide 2: Introduction
Introduction Neil Woodyer Bill Koutsouras Chief Executive Officer Executive VP & CFO Stephen Roberts Director – Investor Relations & Business Development This presentation may contain forward‐looking information relating to the future performance of Endeavour Financial. Forward‐looking information,
Slide 3: Endeavour is a gold investment company
Endeavour is a gold investment company Endeavour’s primary business is making active strategic investments in gold producing companies 88% of our capital strategically invested in Crew Gold and Etruscan Resources Endeavour also has a merchant banking business that offers financial advice and s
Slide 4: Endeavour's gold strategy
Endeavour’s gold strategy We target listed gold producing companies with quality assets but with financial or strategic issues We deploy specialized skills and financial resources to create growth plans and improve share values The ultimate creation of an intermediate‐sized producer will drive
Slide 5: Endeavour's gold investments
Endeavour’s gold investments • Endeavour has made two gold‐strategy investments o We own 55.0% of Etruscan Resources (TSX, symbol EET) o We own 43.21% of Crew Gold (TSX & Oslo, symbol CRU) • Endeavour’s two gold‐strategy companies have combined: o Annual production of c.330,000 ozs (80,000 ozs EET,
Slide 6: Recent financial performance highlights
Recent financial performance highlights • For the nine months ended March 31, 2010: o Revenue of US$323.6 million, 79% generated by Gold strategy o Net income of US$277.6 million, or US$2.88 per share • As at March 31, 2010: VALUE o Gold strategy investments: US$454 million o General merchant bankin
Slide 7: Gold Strategy is generating earnings
Gold Strategy is generating earnings 78% of expenses are a direct function of profitability Gold Strategy bonus only paid on realization ENDEAVOUR FINANCIAL 7
Slide 8: Gold Strategy is our core asset value
Gold Strategy is our core asset value General Merchant Banking Investments 12% Gold Strategy Investments 88% ENDEAVOUR FINANCIAL 8
Slide 9: Gold Strategy is building share value
Gold Strategy is building share value • 191% growth in net tangible asset value over last 12 months, from US$165 million to US$479 million ENDEAVOUR FINANCIAL 9
Slide 10: Book value per share – updated to May 11, 2010
Book value per share – updated to May 11, 2010 ENDEAVOUR FINANCIAL 10
Slide 11: Gold Strategy is building share price momentum
Gold Strategy is building share price momentum Endeavour invests in Crew Endeavour Endeavour invests in Etruscan share price is building positive momentum ENDEAVOUR FINANCIAL 11
Slide 12: Endeavour has a committed management team
Endeavour has a committed management team • Neil Woodyer, CEO, has signed on for a minimum of three additional years • Exclusive agreement with Fiore (Frank Giustra) has been extended for an additional 3 year term expiring April 2013 • Professional staff have long‐term incentives with deferred bonus
Slide 13: Concluding Comments
Concluding Comments • We are a gold investment company o First two investments have been successful and demonstrate our strategy • Endeavour’s underlying assets have a current market value of over US$400 million, as compared to our current market capitalization of US$234 million o Share price is bui
Slide 14: APPENDIX: Endeavour Share Capital
APPENDIX: Endeavour Share Capital As of May 11, 2010 Issued & Outstanding Shares: 97,515,613 Options 9,154,000, average strike CDN$2.47 Warrants 32,487,501, average strike CDN$2.50 Fully Diluted: 139,634,403 Current Share Price: CDN$2.45 (as of May 11, 2010) Market Cap: US$234 million Domi