We will now progress the Definitive Feasibility Studies for both projects, which we expect to announce in late 2021 for Fetekro and in early 2022 for Kalana.”ġ Based ona gold price of $1,500/oz. Having purchased Kalana for approximately $120 million in 2017, the project now has an NPV 5% of approximately $330 million at a gold price of $1,500/oz, despite the overhaul of the geological model which incorporates more conservative assumptions.įrom a broader ESG standpoint, in accordance with our aim to reduce our carbon footprint, both projects have low forecast emissions intensity, in line with our current operations, as well as the opportunity to benefit from renewable energy, either in the form of a solar plant at Fetekro, or from the Malian grid for Kalana which has a significant portion powered by renewables. Our $20 million investment in exploration at Fetekro over the past three years has generated significant returns as we now have a project with an NPV 5% of approximately $480 million at a gold price of $1,500/oz.Īt Kalana, we have outlined a project with annual production of 150,000 ounces over at least 10 years with very attractive economics.
Together with a number of earlier stage projects, Endeavour now has an attractive pipeline of opportunities, each of which will compete for capital with the goal of generating strong returns across operations, projects and exploration.Īt Fetekro, our exploration efforts have resulted in the discovery of a project with the potential to become a cornerstone mine with annual production of +200,000 ounces at low all in sustaining costs over at least 10 years while boasting robust economics. Sebastien de Montessus, President and CEO said: “The positive studies announced today confirm the compelling nature of our two most advanced projects and reinforce our focus on organic growth. The robust PFS results confirm that both projects justify moving forward to the Definitive Feasibility Study (“DFS”) stage, which will now commence.
George Town, Febru– Endeavour Mining (TSX: EDV) (OTCQX:EDVMF) is pleased to announce that it has recently completed a positive Pre-Feasibility Study (“PFS”) for both its Fetekro and Kalana projects as part of its focus on organic growth opportunities. Robust economics with after-tax NPV 5% of $331m with IRR of 49% based on a $1,500/oz gold priceĭFS on each project will now commence, with further opportunities to optimize and expand the projects through exploration and engineering Kalana PFS shows potential for 150kozpa production at low AISC over long mine life:ġ1-year mine life based on current reserves of 1.8MozĪverage annual production of 150koz at AISC of $901/oz
Robust economics with after-tax NPV 5% of $479m and IRR of 33%, based on a $1,500/oz gold price Positive PFS results for both Fetekro and Kalana Projects confirm Endeavour’s high quality organic growth pipelineįetekro PFS shows potential for +200kozpa production at low AISC over long mine life:ġ0-year mine life based on current reserves of 2.1MozĪverage annual production of 209koz at AISC of $838/oz ENDEAVOUR REPORTS POSITIVE PFS RESULTS FOR BOTH FETEKRO AND KALANA, CONFIRMING STRONG ORGANIC GROWTH PIPELINE