Announcement Date: 2022-04-04
Announcement Type: Feasibility Study
Announcement Code: NI43-101
Company name: Endeavour Mining Corp.
Project name: Sabodala-Massawa
Location: Senegal
Commodities: Gold
Highlight: DFS results incl. post-tax NPV (5%) of US$538M & IRR of 51% at US$1500/oz Au
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: London, 4 April, 2022 Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (“Endeavour” or the “Group” or the “Company”) is pleased to announce that it will soon launch the construction of its Sabodala-Massawa expansion in Senegal, supported by the recently completed DefinitiveFeasibility Study (“DFS”). The DFS recommends the expansion of the Sabodala-Massawa complex by supplementing the current 4.2Mtpa Carbon-in-leach (“CIL”) plant with a 1.2Mtpa BIOX® plant to process the high-grade refractory ores from the Massawa Central Zone and Massawa North Zone deposits (“Expansion Project”), with first gold production expected in early 2024. Sébastien de Montessus, President and CEO of Endeavour Mining, said: “We are extremely pleased with both the current performance of SabodalaMassawa and the Definitive Feasibility Study results announced today, as they demonstrate the asset’s potential to be a top tier mine capable of producing in excess of 400,000 ounces per year at an industry-leading AISC.
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