PRECIOUS METALS

Endeavour gears up for first Ity gold pour

Endeavour Mining (TSX:EDV) expects to pour first gold at its Ity CIL project in Côte d’Ivoire early in the June quarter, next two months ahead of schedule.

Staff reporter
Ahead of the game: Endeavour is anticipating pouring first gold at Ity two months ahead of schedule

Ahead of the game: Endeavour is anticipating pouring first gold at Ity two months ahead of schedule

Endeavour has started wet commissioning and in preparation for production, ore is expected to be introduced into the process plant milling circuit in the coming days.
 
The total project is now over 97% complete and within budget, with demobilisation of the construction team already begun. 
 
Ity is expected to produce 160,000-200,000 ounces in 2019 at an all-in susatining cost of US$525-590 per ounce, with the bottom-end of production guidance corresponding to the nameplate capacity.
 
CEO Sébastien de Montessus said the company was excited to have started the commissioning phase several months ahead of the initial schedule and was looking forward to the first gold pour.
 
"The start of production at Ity will be a transformative moment for Endeavour. It will become, alongside Houndé, our second flagship mine, and marks the end of several years of large capital-intensive projects which will allow us to focus on cash flow generation and generating returns on our capital employed," he said.
 
Endeavour is also busy with an exploration programme to further demobstarte the potential of Ity. Seven drill rigs are active on the La Plaque target, with the aim of publishing an updated resource in the June quarter.  
 
At C$21.88 (US$16.61), Endeavour's shares have climbed 12% in the past six months.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.