Slide 1: Endeavour Mining: Creating A Premier African Gold Producer
Endeavour Mining Creating A Premier African Gold Producer December 2015 Investor Presentation
Slide 2: Disclaimer & Forward Looking Statements
Disclaimer & Forward Looking Statements Cash cost per ounce and all-in sustaining cash cost per ounce rates, increases in market prices of mining consumables, possible are non-GAAP performance measures with no standard meaning variations in ore reserves, grade or recovery rates; failure of under IFR
Slide 3: Endeavour Overview
Endeavour Overview • A TSX-listed West African intermediate gold producer – 5 producing mines in 4 countries – Group production rate of 580 koz/y – AISC/oz in low-$900s – Attributable 2P reserves of 4.8 Moz1 – Attributable M&I resources of 8.5 Moz plus 2.4 Moz Inferred1 – Attractive pipeline: • Houn
Slide 4: Endeavour Growth through 'Build and Acquire' Strategy
Endeavour Growth through ‘Build and Acquire’ Strategy Houndé: FS in 2013, fully ~800,000 ozs permitted for 2016 construction decision – potential Q4/2017 production Ity Heap Leach: 5th mine, potential to extend to 2019/2020 with definition of additional resources and CIL reserves Agbaou: FS in 2012,
Slide 5: Geographical Positioning of Mines
Geographical Positioning of Mines Houndé Project (after construction) Annual Production (koz) 190 Dakar AISC ($/oz) <725 Expected Life +10 years Bamako Ownership Interest 90% Ouagadougou Tabakoto Mine 2015e Production (koz) 155-165 9m AISC ($/oz)(1) 1,048 Youga Mine Conakry 2015e Production (koz) 60
Slide 6: Overview of Ity
Overview of Ity • Located 480 km northwest of Abidjan with open pit mining and Ity Gold Mine (100% basis) Heap Leach CIL Project2 heap leach ore treatment Stage In production FS underway • Additional resources (some currently slated for Ity CIL) being defined to provide additional feed to extend Hea
Slide 7: One of West Africa's Largest Gold Producers
One of West Africa's Largest Gold Producers Production Incl. Houndé and before Ity CIL CREATING A PREMIER AFRICAN GOLD PRODUCER 7
Slide 8: Houndé Project - Highlights
Houndé Project - Highlights • P&P Reserve1 of 2.1 Moz at 2.1 g/t Houndé General Site Layout Mine, Waste Dumps, and Plant Location • Upfront capital of $270 M, plus owner mining fleet $55 M • Processing plant consists of: − SAG / Ball mill grinding circuit − Gravity / CIL plant − 3.0 Mtpa throughput
Slide 9: Houndé Ranks in the Top Tier of West African Projects
Houndé Ranks in the Top Tier of West African Projects Peer Projects – Project Status, Reserves/Resources and Project IRRs at $1,300 • At $1,200/oz gold price: – AISC/oz of $711 – IRR 27.9% (after tax) – NPV5% $302 M (after tax) • Construction decision in early 2016 Reserves Resources PEA/PFS Feasibi
Slide 10: Endeavour's Team with Strategic Integration
Endeavour's Team with Strategic Integration Executive Team Board of Directors • Neil Woodyer • Michael E. Beckett Chief Executive Officer & Director Chairman • Sébastien de Montessus • Ian Cockerill President & Director Non-executive Director • Adriaan "Attie" Roux • Frank Giustra COO Non-executive
Slide 11: Concluding Comments
Concluding Comments • 5 key objectives for 2015: – Produce 475,000 to 500,000 ounces 9 month 2015 production of 380,000 ounces – Maintain AISC/oz in mid-$900s (guidance range is $930 to $980/oz) 9 month AISC of $917/oz – To be profitable 9 month 2015 net income of $57.2 million – Use free cash
Slide 12: Mineral Reserves as at December 31, 2014
Mineral Reserves as at December 31, 2014 Mineral Reserves - Effective Date as of December 31, 2014; Except Ity, as of July 31, 2015 Proven Probable Proven & Probable Mine/Project Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Gold Price Mt Au g/t (,000's) Mt Au g/t (,000's) Mt Au g/t (,
Slide 13: Mineral Resources as at December 31, 2014
Mineral Resources as at December 31, 2014 Mineral Resources (including Reserves) - Effective Date as of December 31, 2014; Except Ity, as of July 31, 2015 Measured Indicated Measured & Indicated Inferred Lower Mine/Project Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounc
Slide 14: Appendix - Endeavour's Operating Mines: Summary Table
Appendix - Endeavour’s Operating Mines: Summary Table Ity Gold Mine Tabakoto Gold Mine Agbaou Gold Mine Youga Gold Mine (55% Endeavour, 30% Nzema Gold Mine (80% Endeavour, 20% Mali) (85% Endeavour, 10% Côte (90% Endeavour; 10% SODEMI, 10% Côte d’Ivoire, (90% Endeavour, 10% Ghana) (Kofi: 90% Endeavou
Slide 15: Appendix: Q3 2015 and YTD All-in Sustaining Margin and AISC
Appendix: Q3 2015 and YTD All-in Sustaining Margin and AISC Three months ended September 30, 2015 Nine months ended September 30, 2015 US$ M In gold ozs AISC $/oz US$ M In gold ozs AISC $/oz Gold revenue $137.9 123,002 $444.5 377,468 Less: Royalties 6.7 5,933 $54 21.3 18,096 $56 Less: Cash costs for
Slide 16: Appendix: YTD 2015 Cash Cost Detail by Mine
Appendix: YTD 2015 Cash Cost Detail by Mine Agbaou Nzema Tabakoto Youga Total Mining Physicals Total tonnes mined - Open pit 000t 15,331 6,707 6,874 6,249 Total ore tonnes - Open pit 000t 2,065 1,031 374 1,061 Total ore tonnes - Underground 000t - - 794 - Total tonnes milled 000t 1,917 1,337 1,195 7
Slide 17: Appendix - Company Profile
Appendix - Company Profile Share Price (November 27, 2015) Balance Sheet (September 30, 2015) CDN$0.60 Cash position $32 million1 Recent Share Price AUD$0.60 Market Cap CDN$354 million Drawn down from $350 million debt facility $260 million 1 $63 million received from La Mancha in November 2015 Av.
Slide 18: Neil Woodyer, CEO nwoodyer@endeavourmining.com Doug Reddy, EVP Business Development
Neil Woodyer, CEO nwoodyer@endeavourmining.com +377 97 98 7130 Doug Reddy, EVP Business Development dreddy@endeavourmining.com +1 604 609 6114 CREATING A PREMIER AFRICAN GOLD PRODUCER 18