Construction Of Lalique Project On Fetekro Property

ABIDJAN - Endeavour Mining plc has launched the construction of the Lafigue Project on the Fetekro property in Côte d’Ivoire, following completion of a robust Definitive Feasibility Study (DFS).

Sebastien de Montessus, President and CEO, said, “We are very pleased to launch the construction of Lafigue as it will become another cornerstone mine for Endeavour while continuing to enhance our geographic diversification. Lafigue is expected to improve the quality of our portfolio, given its attractive production profile of approximately 200,000 ounces per year at an industry-low AISC of $871 per ounce over its initial 12.8-year mine life, with robust project economics. Moreover, we are excited by its exploration potential as we have confirmed mineralization at several targets in close proximity to the Lafigue deposit.

We are ideally positioned to launch the construction of Lafigue, given our net cash position, the continued strong performance of our operations, and our success in de-risking the Sabadola-Massawa Expansion with a significant portion of the capital already committed on-budget. Moreover, we are seeing reduced inflationary pressures and favorable foreign exchange rates compared to earlier in the year.

In line with our capital allocation framework, we are committed to delivering strong shareholder returns in the form of dividends and share buybacks while we continue to invest in our business by pursuing the most attractive growth opportunities.”