trending Market Intelligence /marketintelligence/en/news-insights/trending/sufuyja3-hvu2wxr7uxhbw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

Endeavour Mining starts construction at Houndé gold project

5 Quant Research Traps to Avoid

IFRS 9: Time is Running Out for Insurance Companies to Comply

Wind Power by the Numbers: U.S., Canada and Mexico

Measuring The Wireline Digital Divide In The US


Endeavour Mining starts construction at Houndé gold project

Endeavour MiningCorp. said April 11 that it started construction at its 90%-owned gold project in BurkinaFaso, following board approval.

"Once in production, [Houndé] will become our flagship low-costmine and will rank amongst West Africa's top tier cash generating mines," saidCEO Neil Woodyer, who noted that the project is fully funded.

Construction is estimated to take 18 months to complete, withgold pour expected in the fourth quarter of 2017.

The project is expected to deliver average production of 190,000ounces per year over a 10-year mine life at all-in sustaining cost of US$709 perounce. Houndé is an open pit mine with a 3.0 million-tonnes-per-annum gravity circuit/carbon-in-leachplant.

Initial CapEx stands at US$328 million, inclusive of US$47 millionfor the owner-mining fleet.

Using a gold price of US$1,250 per ounce and a discount rateof 5%, Houndé's posttax net present value is at US$342 million, and internal rateof return is at 32%. Payback is in 2.2 years.

Houndé hosts proven and probable reserves containing 2.1 millionounces of gold within 30.6 million tonnes grading 2.11 g/t of gold.

Endeavour receivedthe final permit to develop and operate the project in February 2015.