Endeavour Mining - Pursuing growth opportunities in 2023
Endeavour closed a strong FY22 with production of 1,400koz, achieving the top end of the guided 1,315–1,400koz range, while all-in sustaining costs (AISC) amounted to c US$928/oz, within the guided range of $880–930/oz. This marks the 10th consecutive year in which the company has either achieved or exceeded both its production and AISC cost guidance. In light of its positive performance, Endeavour boasted adjusted net earnings of US$65m, or US$0.26/share in Q422, totalling US$405m, or US$1.63/share for FY22. The company looks set to reinvest in organic growth throughout FY23 via the Sabodala-Massawa expansion and Lafigué greenfield project construction, while committing to various exploration projects. FY22 results follow recent announcements about FY23 production guidance, which is broadly comparable to FY22 at 1,325–1,425koz, AISC of US$940–995/oz and H222 dividend payments of US$100m confirming a total dividend of $200m in FY22, 33% above its minimum committed level of US$150m.
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