Slide 1: Management Presentation
Management Presentation March 21, 2011 Financial Results for Six Months ended December 31, 2010 A gold company TSX‐Listed, Symbol EDV
Slide 2: Introduction
Introduction Neil Woodyer Bill Koutsouras Chief Executive Officer Executive VP & CFO Dr Sally Eyre Dr. Stephen Roberts Senior VP, Operations Senior VP, Investor Relations This p presentation mayy contain forward‐looking f g information f relating g to the ffuture performance of Endeavour Mining. For
Slide 3: 2010 - Delivering on our Gold Strategy
2010 ‐ Delivering on our Gold Strategy GOLD PRODUCTION AND CASHFLOW Youga operations stabilized during 2010 ‐ steady state 82 400 ounces in 2010 82,400 84,000 ounces at $600 cash cost forecast for 2011 2011 mine operating cashflow at $1,350 gold is ~$32 million (after sustaining capex of $
Slide 4: Endeavour's Financial Reporting Period
Endeavour’s Financial Reporting Period Endeavour has changed its fiscal year end from June 30 to December 31 to better align its financial reporting period with its gold producer peers Current financial results are for the six month period ended December 31, 2010 Additionally: Etruscan acquisi
Slide 5: Youga Operational Highlights – 6 months to December 31, 2010
Youga Operational Highlights – 6 months to December 31, 2010 Over the full 6 month period: 467,000 tonnes of ore mined at an average grade of 3.09 g/t Gold production of 44,407 ozs, up 16% from same period in 2009 Gold sales of 47,366 ozs, up 30% from same period in 2009 Total cash cost of $
Slide 6: Financial Highlights – 6 months ended December 31, 2010
Financial Highlights – 6 months ended December 31, 2010 For the 112 day period from Sept 11 to Dec 31, 2010 Gold production of 27,174 ozs Gold sales of 28,796 ozs 18,486 oz at $1,363 (spot sales) 10,310 10 310 oz at $700 (hedge delivery) Operating cashflow from mine operations of $12.7 m
Slide 7: Youga Mine: Key Performance Metrics
Youga Mine: Key Performance Metrics 6 month Gold Production Cash Cost per Ounce Steady state & optimizations 16% Improvement I t 17% Improvement I t Steady state & optimizations 44,407 42,000 ozs ozs 38,356 $750 ozs $622 $600 + royalties 6 months ended Dec 6 months ended Dec 2011e 6 months months* 6
Slide 8: Summary – Statement of Earnings
Summary – Statement of Earnings For the 6 Months Ended December 31, 2010 US#039;000 Gold Revenue (112 days) $37,954 112 days from Youga Realized loss on hedge (6 731) (6,731) Mine operating expenses (18,488) Cash flow from mine operations (112 days) 12,735 Depreciation and depletion (11,064) Non cash i
Slide 9: Summary – Balance Sheet
Summary – Balance Sheet As of December 31, 2010 US#039;000 ASSETS Cash & Equivalents $167,300 Marketable Securities 37,149 204,449 Receivables & Other Current Assets 33,979 Mining Interests 221,024 Intangible Assets & Goodwill 51 626 51,626 Historic, from Advisory acquisition in 2007 Historic Net Asset
Slide 10: Youga Gold Belt - $10 million 2011 Campaign, 17 Targets
Youga Gold Belt ‐ $10 million 2011 Campaign, 17 Targets Zerbogo Permits 2 drill targets Bitou Permits Youga Mine Permits 3 drill targets 12 drill targets E N D E A V O U R M I N I NG 10
Slide 11: Agbaou Gold Project: Drilling Program Underway
Agbaou Gold Project: Drilling Program Underway • Engineering & technical studies underway to refine and optimize feasibility study ($4 $ million budget) • 20,000m drilling program in progress Photos taken Feb 2011 E N D E A V O U R M I N I NG 11
Slide 12: Summary
Summary Gold Production Operations stabilized during 2010, now steady state 84 000 ozs at $600/oz for 2011 84,000 “Free” operating cash flow of $32 million at $1,350/oz gold price (after sustaining capex of $4 million and $23 million in cashflow foregone from hedge) Value generation from e