It’s a double whammy of good news from Endeavour Mining that has my attention this week.
The TSX-listed West African gold miner recently posted positive pre-feasibility study (PFS) results for both its Fetekro (Côte d’Ivoire) and Kalana (Mali) projects, both of which confirm Endeavour’s high quality organic growth pipeline.
Fetekro PFS shows potential for +200 kozpa production at low all in sustainable cost (AISC) over a 10-year mine life based on current reserves of 2.1 Moz. It will have an average annual production of 209 koz at AISC of $838/oz.
Meanwhile, Kalana PFS shows potential for 150 kozpa production at low AISC over a 11-year mine life based on current reserves of 1.8 Moz. Annual production will be 150koz at AISC of $901/oz.
Attractive opportunities lie ahead
Speaking after the announcement, Sebastien de Montessus, president and CEO said, “The positive studies confirm the compelling nature of our two most advanced projects and reinforce our focus on organic growth. 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.
“From 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.”
The company will now progress the definitive feasibility studies for both projects, which it expects to announce in late 2021 for Fetekro and in early 2022 for Kalana.
Endeavour Mining already has a solid track record of operational excellence, project development and exploration in West Africa. Now with Fetekro and Kalana, it is well poised to deliver on two more successful projects.