ENDEAVOUR Mining PLC. (EDVMF: OTCQX International) | Endeavour Reports FY-2024 Preliminary Results; Announces Record H2-2024 Dividend
Endeavour Mining plc released preliminary financial and operating results for Q4 and FY 2024:Key Highlights:
- FY 2024 production: 1,103,000 ounces at AISC of ~$1,220/oz
- Q4 2024 production: 363,000 ounces at AISC of ~$1,140/oz
- Record H2 2024 dividend of $140 million announced
- Total FY 2024 shareholder returns of $277 million
- Net debt reduced to $732 million, leverage ratio below 0.60x
- FY 2025 production guidance: 1,110,000 – 1,260,000 ounces at AISC of $1,150-1,350/oz
Operational Performance:
- Production increased across all mines in Q4 compared to Q3
- Sabodala-Massawa underperformed in 2024 but initiatives underway to improve
- Lafigué mine successfully ramped up production in H2 2024
- Assafou project PFS completed, showing potential for 329,000 oz/year production
Financial Position:
- Year-end net debt of $732 million, down $102 million from Q3
- Available liquidity of $614 million
- On track to reach leverage target of 0.5x in near term
2025 Outlook:
Focus on deleveraging and increasing shareholder returns
Up to 15% production growth expected
Sustaining capital to increase, non-sustaining to decrease
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