our global future when the river runs dry

OUR GLOBAL FUTURE WHEN THE RIVER RUNS DRY FULL
OUR GLOBAL FUTURE WHEN THE RIVER RUNS DRY FREE

Having reached a Net Cash position by year-end, marking a reduction in net debt by nearly $600 million over the course of 2020, we are pleased to be paying our first dividend in the coming days. Looking ahead to 2021, our focus will be the integration of the Teranga assets and progressing our organic growth pipeline. In spite of the challenges presented by the global pandemic, we are proud to have achieved our annual production and AISC guidance for the eighth consecutive year.

OUR GLOBAL FUTURE WHEN THE RIVER RUNS DRY FULL

Sebastien de Montessus, President and CEO, commented: “2020 was a transformational year for Endeavour as we consolidated our position in West Africa and this is reflected in the strong operational and financial performance across our portfolio, particularly in the record fourth quarter which saw the full benefits from the integration of the SEMAFO assets and the ramp-up of the high grade Kari Pump deposit at Houndé. George Town, Janu– Endeavour Mining (TSX: EDV) (OTCQX:EDVMF) is pleased to announce its preliminary financial and operating results for the fourth quarter and full year 2020, with highlights provided in the table below.

OUR GLOBAL FUTURE WHEN THE RIVER RUNS DRY FREE

Strong focus in 2021 on free cash flow generation and on building optionality by progressing our organic growth pipeline with PFS on Fetekro and Kalana due in Q1-2021 and targeting DFS for the Sabodala-Massawa plant expansion in Q4-2021Ĭontinued strong focus on exploration with 2021 exploration budget of $55-60m Net Cash position of ~$70m achieved at year-end, marking a Net Debt reduction of ~$245m during Q4-2020 and ~$600m during FY-2020įirst dividend announced, payment on February 5, 2021, with shareholder return program expected to be augmented once a Net Cash position of $250m is reachedĢ021 annual production guidance of 915-1,010koz at AISC of $900-950/oz, which factors in the recently announced Agbaou sale and will be updated following the completion of the Teranga transaction Record consolidated FY-2020 production of 908koz, a 39% increase over FY-2019, while AISC increased by 5% to ~$860/ozĮighth consecutive year of achieving annual guidance, reaching the top end of production and low end of AISC guidance, in spite of the global COVID-19 pandemic Record Q4-2020 production of 344koz, a 41% increase over Q3-2020 while AISC decreased by 15% to ~$770/oz

Our global future when the river runs dry