Endeavour Targets Discovery of 12-15 Million Ounces of Resources Over The Next 5 Years2 Dec 2025 07:24
From their RNS this morning:
'Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (“Endeavour” or the “Group” or the “Company”) is pleased to announce its exploration outlook for the next five years, which targets the discovery of 12 – 15 million ounces (Moz) of mineral resources at a cost of less than $40 per ounce.... Our exploration programme seeks to replace production depletion and extend mine lives at our core assets, while also discovering new greenfield projects both within our current land packages and in new, highly fertile, immature gold provinces, where we can leverage local partnerships to support the discovery of tier 1 gold deposits.
While we see significant opportunities across our brownfield portfolio, we are encouraged by the potential to add additional standalone cornerstone greenfield deposits to our pipeline. We are targeting assets with over 3Moz of high grade resources that are capable of producing at least 300koz of annual production at sector leading all-in sustaining costs, with mine-life visibility of more than 10 years.'
https://www.londonstockexchange.com/news-article/EDV/endeavour-targets-discovery-of-12-15-million-ounces-of-resources-over-the-next-5-years/17353101
With a target of less than $40 an ounce it shows the size of the potential budget to go beyond the initial $25m JV if Endeavour needs 'to fund and complete a NI 43-101 compliant Pre-Feasibility Study ("PFS") to earn a further 10%, bringing its total interest to 80%.'
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