Endeavour MiningCorp. said May 2 that it produced 131,567 ounces of gold during thefirst quarter, higher than the 123,744 ounces recorded in the corresponding periodin 2015.
The all-in sustaining cost improved to US$900 per ounce fromUS$946 per ounce, notably due to the addition of the low-cost Ity mine, and cost reductions at and Tabakoto.
The company is on track to meet its full-year of 535,000 ounces to 560,000 ouncesof gold at all-in sustaining costs of US$870 per ounce to US$920 per ounce as productionis expected to increase in the upcoming quarters with stronger performance expectedfrom the Tabakoto and Nzemamines.
For the quarter, the company's net earnings attributable to shareholdersfell to US$1 million from US$9 million, due to the acquisition costs for as well as higher operatingand corporate costs for the first full quarter of operating Ity.
As of March 31, net debt stood at US$136 million, down from US$259million a year ago. This number was further reduced to US$71 million following theLa Mancha US$65 million anti-dilution cash injection under the of True Gold Mining Inc.