Sees Lafatigue project delivered in coming weeks (Il Sole 24 Ore Radiocor) - London, 29 Apr - The London-listed gold miner Endeavour Mining announced the first gold pour from the Sabodala-Massawa Biox Expansion project in Senegal took place on April 18, marking the delivery of the project "on schedule and on budget with no lost time injuries." Ian Cockerill, the CEO, said "we have commissioned the project and delivered first gold in only 2 years, marking the fourth capital project that we have completed in the last 10 years. All of these have been completed in two years or less, and have been delivered on schedule, on budget and with no lost time injuries." At the Sabodala-Massawa Biox Expansion "we expect to achieve nameplate capacity in Q3-2024 driving stronger production at lower all-in sustaining costs through the year, sustaining the Sabodala-Massawa complex's industry leading cost profile," he added.

He added that the group is now focused on delivering the Lafigue project in the coming weeks, a full quarter ahead of schedule.

"The completion of the two projects underpins our transition to a more cash flow generative phase, from the second half of the year, when we will focus on enhancing shareholder returns and de-levering our balance sheet, as we continue to execute on our strategy,' Cockerill commented.

The Biox Expansion is expected to achieve commercial production late in the second quarter and ramp up to its stable nameplate capacity of 1.2 million tonnes a year in the third quarter, the company said.

AAA-Web

(RADIOCOR) 29-04-24 16:18:02 (0455) 5 NNNN