Endeavour Mining Reports 2012 All-In Margin of $130 Mln and Updates 2013 Outlook; Gained 5%, Moved From Near Year Lows Wednesday
Endeavour Mining Corporation (EDV.TO), which gained 5% and moved further away from near a year low $1.45 on Wednesday, announced strong financial and operational results for 2012 with production of 310,778 ounces of gold, including full 2012 production from the Tabakoto Mine. Endeavour acquired the Tabakoto Mine (and the Hounde and Kofi projects) on October 18, 2012, which requires Endeavour's audited financial results to include only the 75 day operating period from October 18 to December 31, 2012 for Tabakoto. For 2012, Endeavour's all-in sustaining cash cost per ounce produced was US$1,077 leading to an all-in sustaining margin of $130 million. The guidance range for 2013 all-in sustaining cash cost per ounce is $1,055 to $1,155 which includes revised cash cost guidance ranges for the Nzema and Tabakoto mines.
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