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Endeavour Mining CEO donates 30% of salary to COVID-19 response

The chief executive of Africa-focused gold producer Endeavour Mining, Sébastien de Montessus, has donated 30% of his base salary for the next three months to support COVID-19 health initiatives in communities in which the company operates, including Burkina Faso, Mali and Ivory Coast.
Endeavour Mining CEO donates 30% of salary to COVID-19 response Endeavour Mining CEO donates 30% of salary to COVID-19 response Endeavour Mining CEO donates 30% of salary to COVID-19 response Endeavour Mining CEO donates 30% of salary to COVID-19 response Endeavour Mining CEO donates 30% of salary to COVID-19 response

Endeavour Mining says all operations such as Ity, in Ivory Coast, continue as normal, albeit with enhanced safety measures

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Other members of management and the board have agreed to a similar measure, which would be matched by Endeavour for a total donation of US$1 million.

The funds will be deployed by Endeavour's community relations and medical teams to source medical equipment for local community health centres and provide financial support to families and schools impacted by a loss of income due to COVID-19. Endeavour's total COVID-19 community contribution is said to be $6 million.

"The world is currently facing an unprecedented challenge fighting COVID-19 and dealing with the economic, social and health consequences that have arisen. Beyond financial aid, we have leveraged our global supply chain, broader network and medical expertise to obtain key medical supplies to bolster the national authorities' response," said de Montessus.

Endeavour said all operations continued at normal levels with gold shipments and sales ongoing, albeit with increased health and safety measures which is being monitored by an epidemiologist special advisor to Endeavour. It said the few employees who previously tested positive for COVID-19 had successfully recovered, and it had not had any new reported cases.

Endeavour continues to guide for 2020 production of 680,000-740,000pz at AISC of $845-$895/oz.

Endeavour shares (EDV:TSX) are up 28% over the past 12 months at C$24.69, capitalising it at $2.7 billion (US$1.9 billion).

 

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