Endeavour Mining Results Presentation Deck
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SABODALA-MASSAWA,
SENEGAL
Lowest AISC achieved since acquiring the mine
Q1-2022 vs Q4-2021 INSIGHTS
> Production decreased from 105koz in Q4-2021 to
96koz in Q1-2022 primarily due to the lower average
grade milled and slightly lower recoveries and mill
throughput.
> Mining was focussed on the Sofia North, Sofia Main
and the Sabodala pits, whilst activity at the Massawa
Central Zone is ramping up. Tonnes milled decreased
slightly due to an increased proportion of fresh ore
from the Sofia Main and Sofia North pits in the feed,
which was partially offset by continued high mill
availability. Average grade milled decreased due to a
lower proportion of high grade ore from the Sofia Main
pit and a higher proportion of ore from the Sofia North
pit.
> AISC decreased from $592 per ounce in Q4-2021 to
$578 per ounce in Q1-2022 largely due to sustaining
capital timing compounded with slightly higher unit
mining and processing costs.
OUTLOOK
>
> Sabodala-Massawa is on track to produce between
360-375koz in FY-2022 at an AISC of $675-725/oz.
In Q1-2022 mining activities started at the Massawa
CZ, where activities will continue for the rest of the
year.
Production and AISC
Production, koz
75koz
$749/oz
Q1-2021
AISC, US$/oz
For The Period Ended
Tonnes ore mined, kt
Total tonnes mined, kt
Strip ratio (incl. waste cap)
Tonnes milled, kt
Grade, g/t
Recovery rate, %
PRODUCTION, KOZ
Total cash cost/oz
AISC/OZ
96koz
$637/oz
Q2-2021
Key Performance Indicators¹
106koz
$655/oz
Q3-2021
Q1-2022
1,708
12,076
6.07
1,054
3.10
89
96
448
578
105koz
$592/oz
Q4-2021
Q4-2021
1,719
12,789
6.44
1,081
3.41
90
105
458
592
ENDEAVOUR
MINING
(1) For comparative purposes, performance indicators, excluding costs, include the pre-acquisition period from 1 January 2021 to 10 February 2021. Costs are from the post-acquisition period commencing
February 10 2021.
96koz
$578/oz
Q1-2022
Q1-2021
1,622
10,713
5.62
1,027
2.48
90
75
564
749
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