EDV.to/edvmf +.02 to C$.63
Endeavour making steady progress towards becoming a 500K/yr producer and reducing costs.
VANCOUVER , April 9, 2015 /CNW/ - Endeavour Mining Corporation ("Endeavour" or the "Corporation") (EDV.TO) (EVR.AX) (EDVMF) announces gold production of 124,000 ounces during Q1 2015, which represents a strong start towards full year production guidance of 475,000 to 500,000 ounces. All-in sustaining costs per ounce for Q1 2015 are estimated to be near the mid-point of the guidance range of $930 to $980 .
Neil Woodyer , CEO, stated
"We are still finalizing our costs for Q1 2015, but the current AISC/oz estimate for the group is near the middle of the $930 to $980 guidance range. Our best performance comes from the Agbaou Mine with mine-level AISC/oz estimated below $600 during Q1 2015, which compares to $621 during 2014. Our most important cost improvement is at the Tabakoto Mine with mine-level AISC/oz estimated at approximately $1,150 during Q1 2015, which compares to $1,335 during 2014. Overall, we are very pleased with the production of 124,000 ounces, the continued outstanding performance at Agbaou, and the downward AISC trend at Tabakoto as it moves toward its guidance range for the year."
Table 1: Q1 2015 Gold Production (in ounces)
Agbaou
Youga
Tabakoto
Nzema
Total
Q1 2015
45,322
17,868
33,574
26,979
123,743
The preliminary Q1 2015 production and other financial information in this new release are approximate figures and may differ from the final results included in the Q1 2015 financial statements and MD&A.
About Endeavour Mining Corporation
Endeavour is a Canadian-based intermediate gold mining company producing 500,000 ounces per year from four mines in West Africa. Endeavour is focused on effectively managing its existing assets to maximize cash flow as well as pursuing organic and strategic growth opportunities that benefit from its management and operational expertise.
On behalf of Endeavour Mining Corporation
Neil Woodyer
Chief Executive Officer
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