Uncategorized

Endeavour Mining reports record 2021 results, net income up 130% – Kitco NEWS

Kitco News
Share this article:
Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here!
(Kitco News) – Endeavour Mining (TSX: EDV) today reported record gold production from all operations of 1,536koz in 2021, beating the top end of the guided 1,365-1,495koz range, due to out-performance at the Houndé, Ity, Sabodala-Massawa and Mana mines.
The company said that its 2021 all-in sustaining costs (“AISC”) amounted to $885/oz, achieving the guided $850-900/oz range in spite of inflationary pressures, and added that 2021 was “ninth consecutive year of achieving or beating annual production and AISC guidance.”
The company’s revenue in 2021 increased by 95% to $2,778 million compared to 2020 due to the acquired Wahgnion and Sabodala-Massawa mines, as well as the inclusion of the Boungou and Mana mines for the full year in 2021.
Net earnings attributable to shareholders were $221 million in 2021, up 130% compared to 2020 ($96 million).
The company’s full year 2021 dividend was $140 million, representing $15 million more than the minimum committed dividend of $125 million for the year. FY2022 minimum committed dividend set at $150 million “with strong potential for supplemental shareholder returns.”

President and CEO Sebastien de Montessus commented, “2021 was a very successful year for Endeavour during which we delivered against all our objectives. Our strong operating performance generated $1.2 billion in operating cash flow which has allowed us to deliver robust shareholder returns while improving our net cash position.”
Following the divestment of the non-core Karma mine, Endeavour said it has updated its production and AISC guidance for its continuing operations. As a result, the company’s updated 2022 guidance for continuing operations amounts to 1,315-1,400koz at an AISC of $880-930/oz.
Endeavour is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Cote d’Ivoire and Burkina Faso and a portfolio of advanced development projects and exploration assets in the prospective Birimian Greenstone Belt across West Africa.
For Kitco News
Interactive Chart
Kitco
Connect
Tools
We appreciate your feedback.
How can we help you? 1 877 775-4826
Drop us a line

source

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button