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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.
On October 14, 2021, Endeavour Mining PLC received a notification from BlackRock, Inc., declaring its interests in the company as of October 13, 2021. BlackRock's total voting rights in Endeavour Mining increased to 11.92%, comprising 10.82% from direct voting rights and 1.10% from financial instruments such as securities lending. This reflects a slight decrease from a previous holding of 12.01%. The notification indicates a significant acquisition, suggesting BlackRock's ongoing confidence in Endeavour Mining's potential.
Endeavour Mining plc has disclosed a significant acquisition transaction involving La Mancha Investments SARL, closely associated with Director Naguib Sawiris. On October 7, 2021, La Mancha acquired 10,000,000 debt instruments at a price of 98.913 USD each, totaling 9,891,300 USD. This transaction was executed on the GEM Market of Euronext Dublin. The notification highlights the ongoing investment interests of the company's key stakeholders in alignment with its growth strategy.
On October 6, 2021, Endeavour Mining PLC revealed a notification from BlackRock, Inc. regarding its interest in the company as of October 5, 2021. BlackRock acquired a total of 12.44% voting rights, comprised of 11.33% through shares and 1.11% via financial instruments. This represents a decrease from their previous holding of 12.64%. The notice pertains to regulatory requirements for significant changes in ownership stakes, indicating BlackRock's ongoing investment strategy in Endeavour Mining.
Endeavour Mining has announced the purchase of 17,000 ordinary shares at a price of 1,659.31140 GBp each on October 6, 2021, as part of its previously announced buy-back program from Stifel Nicolaus Europe Limited. Following this transaction, there will be 248,979,887 ordinary shares in issue. The total voting rights will remain at this figure, applicable for shareholder calculations under FCA's Disclosure Guidance. These developments are part of Endeavour's strategic initiatives aimed at enhancing shareholder value.
Endeavour Mining plc has announced the pricing of its US$500 million fixed-rate senior notes due 2026, part of a refinancing strategy. The notes carry a 5.00% annual interest rate and will be settled by October 14, 2021. Proceeds will repay a US$370 million bridge term loan and a US$130 million drawn under its revolving credit facility. Additionally, the company has secured a US$500 million unsecured revolving credit facility with lower interest rates for more flexibility. This move aims to extend the company's debt maturities to 2025 and 2026.
Endeavour Mining will release its Q3 2021 financial results on November 11, 2021, ahead of the LSE market opening. A conference call and webcast will follow on the same day at 8:30 am ET / 1:30 pm GMT to discuss the results. Interested analysts and investors can access the webcast through a provided link and participate via dial-in numbers. To ensure attendance, a calendar reminder can be added.
Endeavour Mining announces the purchase of 22,100 ordinary shares at a fixed price of 1,663.69810 GBp on October 5, 2021. This transaction is part of its ongoing buy-back program initiated on June 15, 2021. After canceling the repurchased shares, the total number of ordinary shares issued will be 248,996,887, which will serve as the denominator for shareholder calculations regarding their interests under the FCA's regulations. No shares will be held in treasury following this transaction.
Endeavour Mining announced its total voting rights in accordance with the UK FCA's rules. As of 6pm on 30 September 2021, the company had 249,128,987 ordinary shares issued, with 110,000 shares held in treasury, resulting in a total of 249,018,987 voting rights. The company has also issued 4,450,000,000 deferred shares without voting rights, intended for a future capital reduction.
Shareholders should utilize the total voting rights figure for interest notifications under FCA regulations.
Endeavour Mining plc announces a $500 million offering of fixed-rate senior notes due 2026. Proceeds will be used to repay a $370 million bridge loan and $130 million from an existing revolving credit facility. Additionally, the company will enter a new revolving credit facility, potentially increasing from $500 million to $650 million for general corporate purposes. This strategic move aims to improve financial flexibility and reduce debt costs. Endeavour is a leading gold producer in West Africa, committed to responsible mining and community sustainability.
Endeavour Mining targets the discovery of 15-20 million ounces of indicated resources over the next five years at an average cost of less than $25/oz. Near-mine exploration will extend the life of core assets beyond ten years, while greenfield exploration aims to identify at least one new standalone project. The group expects to discover over 2.5Moz of indicated resources in 2021 alone. Key mining areas include Sabodala-Massawa, Houndé, and Ity, with significant potential for resource growth.