Endeavour Mining
Primary ticker: TSX:EDV, LSE:EDV
Stage of development: Exploration, Development, Production
Primary minerals: Gold
Project to promote: Sabadola-Massawa, Lafigue, Hounde, Ity
Project location: Senegal, Côte d’Ivoire, and Burkina Faso
Website: www.endeavourmining.com
Endeavour Mining is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Côte d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.
A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour is admitted to listing and to trading on the London Stock Exchange and the Toronto Stock Exchange, under the symbol EDV.
Cash: USD$252M
Debt: USD$834M
Major shareholders:
La Mancha – 19.7%
BlackRock Investment Management (UK) Ltd. – 9.7%
Van Eck Associates Corp. – 8.9%
Tablo Corp. – 6.3%
Franklin Advisers, Inc. – 1.5%
Management Ownership – Approx 1%
Financials
Management Profile
Ian Cockerill – Chief Executive Officer
Ian Cockerill was appointed Chief Executive Officer of Endeavour in January 2024, having joined the Board as Senior Independent Director in 2022 and been Deputy Chair since September 2023. He has nearly 50 years of experience in the global natural resources industry, having previously been Chief Executive Officer at Gold Fields Ltd, and Chief Executive Officer at AngloCoal, a subsidiary of the Anglo American group.
He holds a BSc (Hons) degree in Geology from London University, an MSc in Mineral Production management from the Royal School of Mines and the AMP from Templeton College Oxford. Mr Cockerill was the former Chair of the BlackRock World Mining Trust and also of Polymetal Plc. He was the former lead independent director of Ivanhoe Mines Ltd and a non-executive director of Orica Ltd.
Jack Garman – Investor Relations Manager
What is your rationale for taking part in 121 Mining Investment?
It is part of our ongoing IR program to maintain visibility and market support.
What recent news would you like to highlight to investors attending?
11 Dec 2024 ENDEAVOUR ANNOUNCES POSITIVE PFS RESULTS FOR
ASSAFOU PROJECT IN CÔTE D’IVOIRE
7 Nov 2024 ENDEAVOUR REPORTS Q3-2024 RESULTS: Adjusted EBITDA of $317m • Free Cash Flow of $97m;Shareholder returns paid of $229m
13 Sept 2024 Endeavour achieves commercial production at BIOX expansion and Lafigué growth projects
2 July 2024 ENDEAVOUR ACHIEVES FIRST GOLD POUR AT LAFIGUÉ MINE IN CÔTE D’IVOIRE
Constructed in only 21 months · Delivered on budget and ahead of schedule · Investment phase completed
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Robust shareholder returns program
6 Months:
Continuing to expand resources at Sabodala-Massawa, Ity, Hounde and Tanda-Iguela
12 Months:
Complete DFS @ Assafou
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
We’re proactively managing geo-political risk in West Africa, inflationary pressure across the business and we are still managing through the COVID-19 pandemic. We’ve tried to lock in long-term contracts with suppliers to offset inflationary pressure. We have strong relationships with governments at all levels in the countries that we operate.
What do you think makes your company such a compelling investment?
Consistent operational performance, strong healthy balance sheet, robust shareholder returns program.
What are the top 3 key investor takeaways?
1. One of the world’s largest gold producers that has met or beat guidance for eleven consecutive years
2. We have a robust shareholder returns program
3. We have an industry-leading organic growth pipeline