EVR - Endeavour Mining - Aussie Stock Forums

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  1. #1
    Make the drill work for YOU springhill's Avatar
    Join Date
    Jun 2007
    Mental Institution

    Default EVR - Endeavour Mining

    No thread on EVR? Unusual for a gold producer not to have a thread, unless you gold bugs are keeping this all to yourselves!

    • Gold production totaled 50,728 ounces for the quarter and totaled 102,691 ounces for the first half, significantly above annualized previous guidance
    • The full year 2012 production guidance has been updated to between 187,000 and 202,000 ounces of gold from 170,000 to 190,000 ounces. Total cash cost per ounce for production from the two mines (excluding royalties and purchased ore) has been updated to $670 to 690 from $645 to 685 previously.
    • Q2 2012 total cash cost (excluding royalties and purchased ore) was $618 per gold ounce produced, which is below prior guidance.
    • H1 Cash margin (revenues from gold sales less cash costs and royalties) of $84.0 million continues on plan to meet our $150 million estimate for the full year (based on a $1,600/oz gold price).
    • Q2 operating cash flow from mine operations was $56.1 million, which, after adjusting for $8.5 million of cash proceeds received in early April for March production, resulted in adjusted operating cash flow of $47.6 million.
    • Adjusted net earnings were $21.4 million or $0.09 per share.
    • During the first half of 2012, the Corporation invested $41.3 million from its operating cash flow into its operations and exploration programs. Of this, $36.1 million was capitalized and $5.2 million was expensed as exploration. These investments in operational improvements and growth include:
    ƒ Sustaining capital at Nzema: $6.0 million
    ƒ Sustaining capital at Youga: $1.7 million
    ƒ Development capital at Nzema $8.9 million
    ƒ Near-mine exploration: $14.6 million
    ƒ Agbaou exploration and development: $7.2 million
    ƒ Regional exploration: $2.9 million
    • At June 30, 2012, the Corporation had cash & equivalents and marketable securities of $143.9 million and continues to hold a 38.5% interest in Namibia Rare Earths Inc. (TSX:NRE) with a market value of $7.1 million. As at June 30, 2012, the Corporation had drawn $100 million of its $200 million corporate loan facility.
    • During Q2 2012, the Agbaou Gold Project in Côte d’Ivoire entered the construction phase, with planned gold production of 103,000 ounces per year at a cash cost of $635 per ounce beginning in Q1 2014.
    • Positive drill results from near-mine targets at Youga and Nzema continue to show good potential for mine life expansion at both operations and Endeavour plans delivery of two Preliminary Economic Assessments (PEAs) by year-end, one from each of the two mining areas. Toward that end, in Q2, the drill program at the Ouaré gold deposit in Burkina Faso was completed and an updated mineral resource estimate in preparation for a PEA has commenced.

    Summary of the transaction:
    • Acquisition of Avion in an all share transaction with each Avion common share exchanged for 0.365 of an Endeavour common share valuing Avion at CDN$0.88 per share or CDN$389 million, using closing prices on the TSX as of August 7, 2012
    • The acquisition will immediately increase Endeavour’s forecast gold production by approximately 50% to 282,000 - 304,000 ounces for 2012
    • Endeavour is providing a US$20 million short term exchangeable loan to Avion (“Bridge Loan”) to restart the Tabakoto mill capacity upgrade, leading to further gold production growth to over 450,000 ounces per year when Agbaou reaches steady state production.
    • Endeavour’s NI 43-101 compliant, attributable Proven and Probable gold reserves will increase by 31% to 2.8 million ounces and Measured and Indicated gold resources increase by 52% to 6.0 million ounces, and Inferred gold resources increase by 167% to 3.3 million ounces
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  2. #2

    Default Re: EVR - Endeavour Mining

    It was Adamus resources prior to it's recent merger.

    However it is still under the radar in many respects and thinly traded.

    Mine site has had a few articles on it - very positive.

    Management seem to be consistently getting it right, and hopefully the purchase of Avion will be seen by the mkt as a positive.

    I hold and with targets at $3 plus, am happy with this stock.

  3. #3

    Default Re: EVR - Endeavour Mining

    EVR showing signs of a strong rebound looking at the technicals. Very large volume at the bottom of a steep sell down. May need to rest for a while but looking possible.
    SkyQuake you have tipped it can you fill us in?

  4. #4

    Default Re: EVR - Endeavour Mining

    There's been a steady Aussie seller for a while. Notice how nearly every single bar has been a red bar for a month!
    Recently though, there has been buying coming in from overseas which is absorbing stock (also the bounce in the US)
    Bit of a tug of war going on.

    As for FA, EVR has relative high production costs, so they're suffering in this environment. Prob a substantial holder dumping stock.
    I believe effort to be a finite resource. Something to be used only when there are no other options available.

  5. #5
    Off into the sunset Country Lad's Avatar
    Join Date
    Jul 2005
    Fulltime travelling

    Default Re: EVR - Endeavour Mining

    A couple of days ago I mentioned buying EVR which had a similar pattern to some of those mentioned by tech & pav.

    Going along nicely and could be a bit more in it.

    Country Lad

    evr 24 Jul 13.gif
    2013 - celebrating 30 years trading and just about getting the hang of it.

  6. #6

    Default Re: EVR - Endeavour Mining

    On January 11th, 2016, Endeavour Mining Limited (EVR) was removed from the ASX's official list at the request of the Company, in accordance with Listing Rule 17.11.

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