Endeavour Mining PLC on Thursday announced that its Lafigue gold project in the Ivory Coast is ‘ahead of schedule and on budget’.
The gold and silver miner, which boasts projects across West Africa, said wet commissioning of the processing plant at Lafigue is now underway. Construction activities are 94% complete.
Endeavour Mining said it expects the first gold pour in late June, having initially anticipated this in the third quarter. The company expects Lafigue to produce between 90,000 and 110,000 ounces of gold in financial 2024, at a ‘sector-leading’ all-in sustaining cost of between $900 and $975 per ounce.
‘Lafigue is set to become another cornerstone asset in Endeavour’s portfolio,’ commented Chief Executive Officer Ian Cockerill, who added that the project ‘is a great example of our strong track record of organic value creation’.
He continued: ‘With the commissioning of the Lafigue project now underway and first gold production at the Sabodala-Massawa BIOX expansion achieved in early Q2 this year, Endeavour is well positioned to successfully execute its growth strategy, completing the current phase of investment, and transitioning to a more cash flow generative phase.’
Endeavour Mining shares were up 1.7% at 1,702.00 pence on Thursday morning in London.
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