On October 13 in Vancouver British Columbia, Endeavour Mining Corp. released that gold production of 124,893 ounces during the third quarter of 2015 and nine-month production of 379,802 ounces. Endeavour Mining Corporation is listed on the Toronto Stock Exchange (symbol EDV) and the Australian Securities Exchange (symbol EVR). It also trades on the OTCQX (symbol EDVMF).
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 Endeavour Mining Corporation, 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)
| Agbaou | Youga | Tabakoto | Nzema | Total | |
|---|---|---|---|---|---|
| Q1 2015 | 45,323 | 17,868 | 33,574 | 26,979 | 123,744 |
| Q2 2015 | 40,508 | 18,241 | 39,574 | 32,842 | 131,165 |
| Q3 2015 | 43,802 | 17,313 | 36,373 | 27,405 | 124,893 |
| 9 month total | 129,633 | 53,422 | 109,521 | 87,226 | 379,802 |
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.
On Sept. 21, 2015, Endeavour Mining announced it had entered into a long-term partnership, subject to shareholder approval, with La Mancha Holding Sarl, a privately held gold investment company held by the Sawiris family group. This partnership builds on the company's respective successes in the Ivory Coast 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 Oct. 1, 2015, in preparation for its special meeting of shareholders to be held on Nov. 5, 2015.
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 the company's 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 e-mail at assistance@laurelhill.com.
Qualified persons
Adriaan (Attie) Roux, PrSciNat, 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.
Source : Endeavour Mining
