JOHANNESBURG (miningweekly.com) – TSX-listed Endeavour Mining has exceeded its 2015 production guidance, CEO Neil Woodyer announced this week.
Endeavour’s five mines, which included the Ity mine since November, produced 517 948 oz of gold in 2015, exceeding the targeted guidance of between 475 000 oz and 500 000 oz.
In addition to increasing production by 11% year-on-year, the group cut its all-in sustaining costs (AISC) by 8% to within the 2015 guidance range of $930/oz to $980/oz.
Endeavour increased its gold production guidance for 2016 to between 575 000 oz and 600 000 oz with a AISC of $875/oz to $925/oz.
The group’s cash balance as at December 31, 2015, was $110-million, while net debt had been reduced by 44% to $143-million.
Edited by: Creamer Media Reporter
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