Endeavour Mining

Endeavour Mining (LSE: EDV)

Currency in GBP

Last close As at 21/09/2023

GBP16.38

▲ −21.00 (−1.27%)

Market capitalisation

GBP3,991m

Overview
Price performance
Financials
Research
Sector insights
Thematics

Following its acquisitions of SEMAFO and Teranga, Endeavour Mining (EDV) has become one of the top 10 major gold producers globally, with six mines in Côte d’Ivoire, Burkina Faso and Senegal plus a portfolio of development projects, all in the West African Birimian greenstone belt.

In line with EDV’s strategy, the recent divestment of Boungou and Wahgnion supports growth of larger, lower AISC and longer life assets, such as the Lafigué greenfield project and the Sabodala-Massawa BIOX expansion. EDV aims to reinvest in organic growth throughout FY23 via the BIOX expansion (NPV US$861m) and Lafigué greenfield projects (NPV US$477m). After discovering 11.4Moz indicated gold resources during its FY16–21 exploration plan, the company has launched a second plan to find a further 15–20Moz by FY26, focusing on the new Tanda-Iguela prospect. Our most recent analysis valued Endeavour at US$36.73/share.

Latest Insights

Metals & Mining |
Update

17.05.23

Endeavour Mining — A strong year ahead

Metals & Mining |
Update

18.04.23

Endeavour Mining — Rising gold prices begin to feed through

Metals & Mining |
Update

17.03.23

Endeavour Mining — Pursuing growth opportunities in 2023

Metals & Mining |
Update

01.02.23

Endeavour Mining — Meeting guidance for 10th consecutive year

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Sector

Metals & Mining

Equity Analyst

Lord Ashbourne

Director, Energy & Resources

Key Management

Jack Garman

IR manager
Joanna Pearson

CFO
Martino De Ciccio

VP Strategy & Investor Relations
Sebastien de Montessus

President and CEO
Srinivasan Venkatakrishnan

Chairman

Balance Sheet

Forecast net debt (US$m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	3.9	(14.6)	(2.2)
Relative	(1.5)	(15.8)	(6.8)
52 week high/low	2184.0p/1461.0p

Financials

Following the divestment of non-core assets Boungou and Wahgnion, EDV has updated its FY23 guidance from 1,325–1,425koz to 1,060–1,135koz, with all-in sustaining cost (AISC) improving to US$895–950/oz (cf US$940–995/oz, previously). Q223 financial results suggest its performance is set to be weighted towards H223, as previously guided. As such, EDV remains on track to achieve FY23 guidance.