Endeavour Mining

Financials:

Primary ticker: TSX:EDV, LSE:EDV
Stage of development: Exploration, Development, Production
Primary minerals: Gold
Project location: Senegal, Cote d’Ivoire and Burkina Faso
Website: www.endeavourmining.com

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 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 listed on the Toronto Stock Exchange and the London Stock Exchange, under the symbol EDV.


Cash:
 USD$760M
Debt: USD$70M


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%

Management Profile

Patrick Bouisset – Executive VP Exploration & Growth
Patrick Bouisset joined Endeavour Mining as the Executive Vice President of Exploration in November 2015, with over 30 years of experience in mining and oil and gas exploration.
 
Prior to joining Endeavour Mining, he was Executive Vice President Exploration and New Ventures of La Mancha and before that, Vice President of Geoscience for Areva’s Business Group. For six years, as a member of the executive committee of Areva Mines, he led worldwide exploration activities and managed all of its not yet producing subsidiaries. Before joining Areva in 2007, he spent more than 20 years overseas during his career with Total, leading all of the company’s exploration activities in Africa.
 
Patrick holds a master’s degree in Geology from Orleans University.

What is your rationale for taking part 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?

Jan 24 2022 Endeavour Beats 2021 Full Year Guidance; Announces H2-2021 Dividend of $70m
 
Jan 17 2022 Endeavour Achieves Record Annual Discoveries With Addition of 3.0Moz of M&I and 0.9Moz of Inferred Resources

What are your key goals for the next 3, 6 and 12 months?

3 Months:
Mar 17 2022 Q4 and Full-Year Results for 2021
Q4-2021 Sabodala-Massawa Completion of Phase 1 plant upgrades

6 Months:
Q1-2022 Sabodala-Massawa Completion of Definitive Feasibility Study for Phase 2
Q1-2022 Fetekro Completion of Definitive Feasibility Study
Q1-2022 Shareholder Returns H2-2021 dividend
Q1-2022 Kalana Completion of Definitive Feasibility Study

12 Months:
FY-2022 production guidance of 1,400-1,500koz at AISC of $890-940/oz, in line with outlook provided during June 2021 investor day
FY-2022 target dividend of $150M to be supplemented with share buybacks if gold price remains above US$1500/oz

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. And we have stringent COVID-19 protocols in place.

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 nine consecutive years
2. We have a robust shareholder returns program
3. We have an industry-leading organic growth pipeline