Endeavour delivers strong quarter on Agbaou start
PERTH (miningweekly.com) – Gold miner Endeavour Mining Corporation has reported a significant increase in gold production during the three months to March, as its Agbaou mine, in Côte d'Ivoire, added to production.
During the first quarter, Endeavour delivered 105 912 oz of gold, compared with the 73 654 oz delivered in the previous corresponding period.
Gold sales for the quarter under review also increased to 111 798 oz, compared with the 71 926 oz sold during quarter ended March 2013.
The Agbaou mine construction was completed at the end of last year, with the mine reaching commercial production in January. Agbaou delivered 24 086 oz of gold during the quarter under review, ahead of expectations.
The Nzema gold mine, in Ghana, delivered a further 28 487 oz during the quarter, which was also an improvement on the previous corresponding quarter, as gold grades improved.
At Youga, in Burkina Faso, Endeavour delivered 19 087 oz of gold, which was lower than the 23 039 oz produced in the previous corresponding period. Endeavour said that less overall material was mined at Youga during the quarter, as mining was occurring at deeper levels.
At Tabakoto, in Mali, gold production during the quarter reached 33 472 oz, compared with the 28 159 oz reported in the March quarter of 2013, with Endeavour saying that the increase in production reflected the increase in throughput at the processing plant.
For the full year, Endeavour expected to produce between 400 000 oz and 440 000 oz, at an all-in sustaining cost of between $985/oz and $1 070/oz.
The company was also advancing its Hounde gold project, in Burkina Faso, which could achieve yearly production of some 178 000 oz over an eight-year life-of-mine, with the project producing a total of 1.44-million ounces.
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