Endeavour reports strong first-quarter results
London- and Toronto-listed Endeavour Mining has reported a strong start to the year, building on momentum from 2025 with another solid quarter of operational performance and record financial results.
The company says it remains on track to meet its production guidance of between 1.09-million and 1.27-million ounces of gold, at an all-in sustaining cost (AISC) of between $1 600/oz and $1 800/oz.
The company notes that first-quarter production of 282 000 oz is equivalent to about 26% of the low-end of the guided range, with increased production expected
in the second half of this year at the at Houndé and Mana mines, in Burkina Faso, and at the Ity mine, in Côte d’Ivoire, positioning the group well to achieve the full-year production guidance.
First quarter AISC amounted to $1 834/oz, an increase of $187/oz over the previous quarter.
Endeavour CEO Ian Cockerill says the company’s strong operational delivery, combined with continued strength in the gold price, translated into record adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) of $880-million and record free cash flow of $613-million, equivalent to $2 176/oz, for the quarter under review.
He says this cash generation supported further improvement in the company’s balance sheet, which now stands at $405-million of net cash.
“Our financial strength gives us flexibility to simultaneously start construction at the Assafou project, in Côte d’Ivoire, and deliver on our sector leading shareholder returns programme.
“We expect to significantly exceed our minimum commitment for the year, and at prevailing gold prices, we could more than double it, supported by over $54-million of supplemental share buybacks completed already this year,” Cockerill says.
