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Endeavour Mining plc reports developments tied to its West African gold mining portfolio, including operating results, production guidance, project development and exploration activity. The company is a senior gold producer with operating assets in Senegal, Côte d’Ivoire and Burkina Faso, and a portfolio of advanced development projects and exploration assets in the Birimian Greenstone Belt.
Recurring company announcements also cover capital returns and UK market disclosure obligations, including transactions in own shares, total voting rights, major shareholding notifications and director or PDMR shareholding notices. Updates may also address governance, sustainability and stakeholder matters associated with its mining operations and exchange listings.
Endeavour Mining plc announced the block listing of 835,268 ordinary shares in respect of the maturity of US$330 million convertible senior notes. The application has been submitted to the Financial Conduct Authority and the London Stock Exchange for these New Shares to be listed on 15 February 2023. This comes as the company elected to settle the principal amount in cash, while any contingent premiums will be settled in shares. Once issued, these shares will rank pari passu with existing shares.
Endeavour Mining announced the repurchase of 40,000 ordinary shares at a price of 1,902.00 GBp each as part of its ongoing buy-back program initiated on March 17, 2022. The transaction occurred on February 10, 2023, through investment firm Stifel Nicolaus Europe Limited. Following this buyback, Endeavour will not hold any treasury shares, maintaining a total of 246,639,155 ordinary shares in issue, which serves as the denominator for shareholder interest notifications under FCA regulations. This share repurchase reflects the company's commitment to enhancing shareholder value.
Endeavour Mining plc announced a notification regarding a transaction by Mark Morcombe, the Chief Operating Officer. The notification pertains to the release of shares under the Executive Performance Share Unit Plan, totaling 89,961 ordinary shares. The transactions occurred on 13 January 2023 and 30 January 2023, with no monetary value assigned to the shares. The shares were released outside a trading venue. This transaction is part of standard equity compensation practices for senior management.
Endeavour Mining plc has announced its total voting rights as of January 31, 2023, in accordance with the UK FCA's regulations. As of the specified date, the company’s issued ordinary share capital consists of 246,679,155 ordinary shares with 70,000 shares held in treasury pending cancellation. The total number of voting rights stands at 246,609,155. This figure is crucial for shareholders to determine if they need to notify changes in their interests under the FCA's Disclosure Guidance and Transparency Rules.
Endeavour Mining, a leading gold producer in West Africa, is committed to sustainable and responsible mining practices.
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.