Mr. Doug Reddy reports
ENDEAVOUR MINING REPORTS Q3 GOLD PRODUCTION OF 125,000 OZ AND 380,000 OZ FOR 9 MONTHS
Endeavour Mining Corp. had gold production of 124,893 ounces during the third quarter of 2015 and nine-month production of 379,802 ounces. For the nine months, the Agbaou, Nzema and Youga mines are all ahead of the midpoint of their production guidance ranges. Nzema maintained its production levels despite a temporary drop in the grade of the purchased ore. The Tabakoto mine experienced several extreme rainfalls in the latter part of the quarter. This affected overall operation, in particular production from the North and South sections of the Tabakoto underground mine, reducing the grade of the material delivered to the mill and dropped production below targeted levels.
Neil Woodyer, chief executive officer, stated: "Group production from the mines continues to be at the high end of production guidance. AISC per ounce will be reported in the Q3 2015 financial results to be released in November, and it is expected that AISC will continue to be below our full-year $930-to-$980 guidance range."
QUARTERLY AND NINE-MONTH 2015 GOLD PRODUCTION
(in ounces)
Agbaou Youga Tabakoto Nzema Total
Q1 2015 45,323 17,868 33,574 26,979 123,744
Q2 2015 40,508 18,241 39,574 32,842 131,165
Q3 2015 43,802 17,313 36,373 27,405 124,893
Nine-month total 129,633 53,422 109,521 87,226 379,802
The preliminary third quarter 2015 production and other financial information in this news release are approximate figures and may differ from the final results included in the third quarter 2015 financial statements and management's discussion and analysis.
Special meeting of shareholders
On Sept. 21, 2015, Endeavour Mining announced it had entered into a long-term partnership, subject to shareholder approval, with La Mancha Holding Sarl, a privately held gold investment company held by the Sawiris family group. This partnership builds on the company's respective successes in the Ivory Coast to secure Endeavour Mining's platform for growth in Africa. The company mailed a notice of meeting and management information circular to its shareholders of record as of Oct. 1, 2015, in preparation for its special meeting of shareholders to be held on Nov. 5, 2015.
Endeavour Mining's board of directors recommends that shareholders vote in favour of the share issuance resolution. Shareholders who require assistance with voting or have questions regarding the meeting may contact the company's proxy solicitation agent, Laurel Hill Advisory Group, at 1-877-452-7184 toll-free in North America, or call collect outside North America at 416-304-0211, or by e-mail at assistance@laurelhill.com.
Qualified persons
Adriaan (Attie) Roux, PrSciNat, Endeavour Mining's chief operating officer, is a qualified person under NI 43-101, and has reviewed and approved the technical information related to mining operations in this news release.
We seek Safe Harbor.
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