Endeavour Mining Stock Price, News & Analysis

Endeavour Mining notified the market of disposals by Chief Executive Sébastien de Montessus and PDMR Joanna Pearson on January 23 and January 20, 2023, respectively. Montessus sold 159,311 tracker shares in Endeavour Gold Corporation at £20.1912 each, totaling £3.2 million, while Pearson disposed of 21,401 shares at a price of CAD 33.14, amounting to CAD 709,000. Both transactions occurred outside a trading venue. The Legal Entity Identifier (LEI) for Endeavour Mining is 529900NI5MXQ91GHXR07.

Endeavour Mining plc has announced a block listing of 950,000 ordinary shares on the London Stock Exchange (LSE), subject to approval by the Financial Conduct Authority. The new shares, expected to trade from 25 January 2023, are being reserved for the Company’s share incentive plans, which include the Executive Performance Share Plan and Employee Performance Share Unit Plan. Once issued, these shares will have the same rights as existing shares.

On January 24, 2023, Endeavour Mining announced the purchase of 95,000 ordinary shares as part of its ongoing buy-back program initiated on March 17, 2022. The shares were acquired at a volume weighted average price of 1,951.97 GBp, with the lowest price at 1,913.00 GBp and the highest at 2,012.00 GBp. After cancellations, the company will have 246,153,077 ordinary shares outstanding, impacting total voting rights for shareholders. This move reinforces Endeavour Mining's strategy to enhance shareholder value amidst market conditions.

Endeavour Mining achieved strong financial performance in FY-2022, producing 1.4Moz of gold with an all-in sustaining cost (AISC) of ~$928/oz. The company declared a H2-2022 dividend of $100 million, totaling $200 million for FY-2022, which is 33% above minimum commitments. A share buyback program totaled $99 million, reflecting robust cash flow and a financial position of $121 million net cash. FY-2023 guidance estimates production of 1,325-1,425koz with an AISC of $940-995/oz. Endeavour continues to invest in organic growth projects with $370 million budgeted for capital expenditures in FY-2023, including expansions and exploration efforts.

On January 10, 2023, Endeavour Mining plc received a notification from BlackRock, Inc. regarding its increased shareholding. As of January 9, 2023, BlackRock holds 12.04% of Endeavour Mining's voting rights, up from the previous 11.68%. The acquisition included 29,641,964 voting rights, with 28,610,544 representing direct holdings and 1,020,936 through securities lending. The notification reflects a continued interest from BlackRock in the mining sector, demonstrating their confidence in Endeavour Mining's prospects.

On December 13, 2022, Endeavour Mining plc announced the purchase of 29,000 ordinary shares at a price of 1,720.78 GBp each through Stifel Nicolaus Europe Limited. Following this buyback, the company will have 246,539,171 ordinary shares in circulation, with no shares held in treasury. This transaction is part of a buy-back program initiated on March 17, 2022. The transaction aligns with Endeavour's commitment to optimizing shareholder value.

Endeavour Mining announced its total voting rights as of 30 November 2022, in compliance with the UK FCA's Disclosure Guidance. The company reported an issued ordinary share capital of 245,935,263 ordinary shares with no shares held in treasury. This total represents the number of voting rights available to shareholders for calculating their interest in the company.

Endeavour Mining is recognized as one of the largest gold producers in West Africa, with a strong commitment to responsible mining and sustainability.

Endeavour Mining announced a significant 17% increase in the Measured and Indicated (M&I) resources at its Ity mine, totaling 99Mt at 1.62 g/t Au, equating to 5.2Moz. This increase is attributed to successful drilling that confirmed the continuity of the mineralized system encompassing seven deposits, with further exploration expected in 2023. The company aims to discover between 3.5-4.5Moz of Indicated resources by 2025, having already identified 2.0Moz in the past two years. The Ity mine continues to exceed production guidance, showcasing Endeavour's commitment to long-term growth.

Endeavour Mining has announced a 17% increase in the Measured and Indicated (M&I) resources at its Ity mine, rising to 5.2 million ounces of gold. The updated resource estimates total 99 million tonnes at 1.62 g/t Au. Key findings include confirmed extensions of existing deposits and new discoveries, bolstering future resource delineation plans. Endeavour is on track to meet its goal of identifying an additional 3.5 to 4.5 million ounces of indicated resources by 2025, with production guidance set to exceed annual targets of 255,000 to 270,000 ounces.