Endeavour Mining Stock Price, News & Analysis

Endeavour Mining announces that the scheme of arrangement to create Endeavour Mining plc as its parent company has become effective. Each shareholder of Endeavour Mining Corporation will receive one share of Endeavour Mining plc for each share they hold. The shares will start trading on the LSE at 8:00 am (BST) on June 14, 2021, and on the TSX at 9:30 am (ET) on June 16, 2021. The stock will trade under the ticker symbol EDV.

Endeavour Mining has announced the appointment of corporate brokers ahead of its London Stock Exchange listing on June 14, 2021. The company has appointed Barclays as its sponsor and Morgan Stanley as a joint corporate broker. In addition, Joh. Berenberg and Stifel will serve as UK and European broking advisers. The listing is expected to enhance Endeavour's capital markets profile, as it does not plan to raise capital during this process. The prospectus related to the admission has been approved by the UK Financial Conduct Authority.

Endeavour Mining hosted a virtual capital markets event on June 7, 2021, detailing its strategy and ESG initiatives. The company announced a commitment to distribute over $500 million to shareholders through a progressive dividend policy, contingent on gold prices remaining above $1,500/oz. A share buyback program has already repurchased $49 million worth of shares. Additionally, Endeavour plans to strengthen its ESG strategy, reflecting its expanded scale following recent acquisitions, with aims for reduced emissions and significant community investments.

Endeavour Mining is set to host a virtual capital markets event on June 7, 2021, ahead of its anticipated listing on the London Stock Exchange on or about June 14, 2021. The event will showcase senior management presentations detailing the company's strategy, competitive edge, and ESG initiatives, followed by a live Q&A. Scheduled to start at 14:00 BST (9:00 EST), attendees can join via a registered webcast or dial-in. Endeavour Mining, the largest pure gold producer in West Africa, operates in several countries and emphasizes responsible mining practices.

Endeavour Mining Corporation announced successful shareholder meetings held on May 25, 2021. All resolutions related to its upcoming listing on the London Stock Exchange (LSE) on June 14, 2021, were approved. The company will not raise capital during this listing. The meeting also confirmed the appointment of Dr. Carmen Letton to the Board, enhancing technical expertise. Shareholder voting showed overwhelming support for the new UK parent company scheme, with 99% in favor. The company expects greater investor access and inclusion in major indices, enhancing its market presence.

Endeavour Mining reported robust Q1-2021 results with a 102% increase in gold production to 347koz and a 3% decrease in All-in Sustaining Costs (AISC) to $868/oz. Adjusted net earnings rose by 111%, reaching $105m or $0.50/share. Operating cash flow before working capital surged 47% to $265m. The company maintains a healthy balance sheet with a 0.16x net debt to adjusted EBITDA ratio. A $60m dividend was paid and share buybacks initiated post-quarter-end. Anticipation builds for a premium listing on the London Stock Exchange in June.

Endeavour Mining Corporation has announced that its 2021 Annual General Meeting (AGM) will take place on May 25, 2021. Alongside the AGM, the company will hold a Court Meeting and an Extraordinary General Meeting regarding its proposed listing on the London Stock Exchange. Shareholders will receive meeting materials by post after April 30, 2021, and proxy forms must be submitted by 9:00 am Toronto time on May 21, 2021. The meetings will be conducted virtually due to the COVID-19 pandemic.

Endeavour Mining (TSX:EDV, OTCQX:EDVMF) will announce its Q1 2021 financial results on May 13, 2021, before the market opens. A conference call and webcast will follow at 8:30 AM ET for discussion and Q&A. Analysts and investors can access the webcast via this link, with dial-in numbers provided for participation. The conference details include timings across various time zones. Playback will be available on Endeavour's website.

Endeavour Mining Corporation has successfully completed a US$200 million investment from La Mancha Holding, issuing 8,910,592 shares at approximately US$22.45 (C$29.36) per share. This investment, part of the Teranga Gold acquisition announced on November 16, 2020, gives La Mancha a 19% stake in Endeavour. The proceeds will be utilized for debt reduction and general corporate purposes. Following the investment, Endeavour has 252,519,830 shares outstanding. The investment was approved by Endeavour shareholders on January 21, 2021.