Endeavour Q4-2024 production increased by 92koz, 34% over Q3-2024
Endeavour reports that Q4-2024 production increased by 92koz or 34% over Q3-2024, to 363koz following increased production at all mines. Production increased due to higher grades processed in line with the mine sequences, as previously guided, and higher throughput following the end of the regional wet season, as well as the ramp up of the Sabodala-Massawa Expansion and the Lafigué growth projects.
Q4-2024 total cash costs (“TCC”) decreased by $148/oz or 13% over Q3-2024 to approximately ~$980/oz due to lower costs at Houndé, Mana and Lafigué largely due to higher gold sales as well as lower underground mining costs at Mana. This was partially offset by slightly higher costs at Ity due to increased mining unit costs as haulage distances increased.
Q4-2024 all-in sustaining costs (“AISC”) decreased by $147/oz or 11% over Q3-2024 to approximately $1,140/oz due to lower costs at Houndé, Mana and Lafigué. This was partially offset by slightly higher costs at Ity due to increased sustaining capital associated with plant upgrades, and at Sabodala-Massawa due to increased sustaining capital associated with fleet replacements.
FY-2024 production amounted to 1,103koz, in line with the previously disclosed outlook and slightly below the guided 1,130 – 1,270koz range, due to lower than guided production from Sabodala-Massawa. FY-2024 AISC amounted to approximately $1,220/oz, in line with the previously disclosed outlook, and above the top end of the guided $955 – $1,035/oz range, due to underperformance at Sabodala-Massawa (+$137/oz), higher royalty costs (+$51/oz) associated with the prevailing higher gold price ($2,418/oz realised gold price vs $1,850/oz guided gold price) and low grid power availability during H1-2024 (+$27/oz), which was partially offset by lower than expected costs at Lafigué due to lower stripping costs
