Endeavour Mining Corporation (TSX:EDV) (ASX:EVR) (OTCQX:EDVMF) announces gold production of 124,893 ounces during Q3 2015 and 9 month production of 379,802 ounces.
For the nine-months, the Agbaou, Nzema and Youga mines are all ahead of the mid-point of their production guidance ranges. Nzema maintained its production levels despite a temporary drop in the grade of the purchased ore.
The Tabakoto mine experienced several extreme rain falls in the latter part of the quarter. This affected overall operation, in particular production from the North and South sections of the Tabakoto underground mine, reducing the grade of the material delivered to the mill and dropped production below targeted levels.
Neil Woodyer, CEO, stated
“Group production from the mines continues to be at the high end of production guidance. AISC per ounce will be reported in the Q3 2015 financial results to be released in November, and it is expected that AISC will continue to be below our full-year $930 to $980 guidance range.”
Table 1: Quarterly and 9 months 2015 Gold Production (in ounces)
The preliminary Q3 2015 production and other financial information in this news release are approximate figures and may differ from the final results included in the Q3 2015 financial statements and MD&A.
Special Meeting of Shareholders
On September 21, 2015, Endeavour Mining announced it had entered into a long-term strategic partnership, subject to shareholder approval, with La Mancha Holding S.àr.l., a privately-held gold investment company held by the Sawiris family group. This partnership builds on our respective successes in Côte d’Ivoire to secure Endeavour Mining’s platform for growth in Africa. The Company mailed a notice of meeting and management information circular to its shareholders of record as of October 1, 2015 in preparation for its special meeting of shareholders to be held on November 5, 2015.
The Endeavour Mining’s Board of Directors recommends that shareholders vote IN FAVOUR of the Share Issuance Resolution. Shareholders who require assistance with voting or have questions regarding the meeting may contact our proxy solicitation agent, Laurel Hill Advisory Group, at 1-877-452-7184 Toll Free in North America, or call collect outside North America at 416-304-0211, or by email at [email protected]
Adriaan “Attie” Roux, Pr.Sci.Nat, Endeavour Mining’s Chief Operating Officer, is a Qualified Person under NI 43-101, and has reviewed and approved the technical information related to mining operations in this news release.
About Endeavour Mining Corporation
Endeavour Mining is a Canadian-based intermediate gold mining company producing 500,000 ounces per year from four mines in West Africa. Endeavour Mining 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
Chief Executive Officer
This news release contains “forward-looking statements” including but not limited to, statements with respect to Endeavour Mining’s plans and operating performance, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs of future production, future capital expenditures, and the success of exploration activities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “expects”, “expected”, “budgeted”, “forecasts” and “anticipates”. Forward-looking statements, while based on management’s best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to international operations; risks related to general economic conditions and credit availability, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Endeavour Mining operates. Although Endeavour Mining has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Please refer to Endeavour Mining’s most recent Annual Information Form filed under its profile at www.sedar.com for further information respecting the risks affecting Endeavour Mining and its business.