Slide 1: Management Presentation
Management Presentation November 8, 2011 Results for the Third Quarter ended September 30, 2011 Endeavour Mining November 7, 2011 :: 1
Slide 2: Introduction
Introduction Neil Woodyer Christian Milau Chief Executive Officer Executive VP & CFO David Laing Stephen Roberts Senior VP, Operations Senior VP, Investor Relations This presentation may contain forward-looking information relating to the future performance of Endeavour Mining. Forward-looking infor
Slide 3: Q3 2011 Highlights
Q3 2011 Highlights • RECORD QUARTER with 24,047 ozs produced in Q3 Production • 65,678 ozs produced during 9 months ended September 30, 2011 • No lost time injuries (“LTI”) or reportable environmental incidents HSE • Operated free of LTI for a total of [893] days-equivalent • Cash Cost of $592 per o
Slide 4: Q3 2011 – Financial Highlights
Q3 2011 – Financial Highlights Gold Production (ozs) * Cash Cost of $602 per oz produced in 9 months ended Sept 30, 2011* * Excludes royalties, refining, freight and non-cash adjustments Endeavour Mining – Results for the Third Quarter ended September 30, 2011 4
Slide 5: Q3 2011 – Financial Highlights
Q3 2011 – Financial Highlights EARNINGS FROM OPERATIONS Q3 2011 Q2 2011 Q1 2011 Q3 2010 Gold sold 22,845 ozs 24,697 ozs 19,395 ozs 24,004 ozs US$ millions Gold revenue $38.0 $36.0 $26.1 $28.3 Operating expenses $13.6 $16.8 $13.9 $14.3 Earnings from mine operations $19.3 $14.9 $8.4 $9.9 Realized loss
Slide 6: Q3 2011 – Financial Highlights
Q3 2011 – Financial Highlights FINANCIAL POSITION September 30, Per Endeavour 2011 Share (US$/sh) 1 Cash and cash equivalents $181 million $1.58 Marketable securities $19 million $0.17 38.5% stake in Namibia Rare Earths $16 million $0.14 (market value) Long-term debt nil $0.00 Total, Cash, Equivalen
Slide 7: Q3 2011 – Operating Highlights
Q3 2011 – Operating Highlights OPERATING HIGHLIGHTS Q3 2011 Q2 2011 Q1 2011 Tonnes milled (‘000 tonnes) 246 234 212 Milled grade (g/t) 3.24 2.93 3.30 Gold recovery (%) 94.4% 92.4% 93.3% Gold produced (ounces) 24,047 21,575 20,056 Gold sold (ounces) 22,845 24,697 19,394 13,911 at 15,278 at 10,326 at
Slide 8: Youga – Monthly Performance Trends
Youga – Monthly Performance Trends Q3 2011 Q3 2011 Endeavour Mining – Results for the Third Quarter ended September 30, 2011 8
Slide 9: Delivering on 2011 Guidance
Delivering on 2011 Guidance 9 months 2011 Full Year 2011 Actual Guidance Gold Produced (ozs) 65,678 84,000 Cash Cost per Ounce Produced* $602 $610 to $650 • On track to deliver full-year production and cost guidance • Currently developing 2012 budget & guidance * Excludes royalties, refining, freigh
Slide 10: Exploration Activity Update - Youga
Exploration Activity Update - Youga Youga Mine and Exploration Targets • Aggressive 2011 exploration campaign to extend mine life to 2017 and beyond • 12 targets within 3 km of Youga mill and inside the mining permit • Exploration results to date anticipated to extend mine life by +2 years, with fur
Slide 11: Exploration Activity Update - Ouaré
Exploration Activity Update - Ouaré • Deposit approximately 40km from Youga mill • Current Inferred mineral resource 4.7Mt at 2.1g/t1 • Drilling to increase resource and upgrade resource classification • Aug 3, 2011 News Release: First 4,376m of the planned 25,000m program • Intersections include 8.
Slide 12: Agbaou Gold Project, Côte d'Ivoire
Agbaou Gold Project, Côte d’Ivoire • August 3, 2011 Press Release • Six target areas of new mineralization (Red ovals on figure) • September 12, 2011 News Release • All results from 7,000 metre infill programs received • Intersections include 10m at 10.9 g/t and 12m at 7.5 g/t • Four additional targ
Slide 13: Highlights of Merger with Adamus Resources
Highlights of Merger with Adamus Resources • A transformative transaction for two junior gold producers • Two operating mines with ~$165M cash margin in 20121 • Near-term production growth to reach 250,000 ozs/year • Pipeline for West African exploration and development: +10,000 km2 • Integration of
Slide 14: Merger with Adamus Resources
Merger with Adamus Resources • Endeavour shareholder meeting scheduled for November 25, 2011 • Information Circular was mailed October 28, 2011 • Shareholders should have, or will receive shortly • If any assistance required – please contact us, or Kingsdale Shareholder Services Inc. North America T
Slide 15: Outlook
Outlook Growth and creation of Shareholder value Completion of Merger with Adamus during December 2011 As market focuses on value – potential for significant re-rating Strategy to significantly increase gold production by end-2013 Build mine at Agbaou Extend Youga Mine Life Optimize Nz