24 Feb Endeavour completes PFS for two advanced gold projects in West Africa
Endeavour Mining has underlined its prospects for organic growth after completing a positive pre-feasibility study (PFS) for its two most advanced gold projects in West Africa.
The Fetekro project in Côte d’Ivoire has the potential to be a future cornerstone mine for Endeavour, the company said, with potential to produce 200,000 ounces of gold a year over a 10-year mine life. The TSX-listed miner has invested US$20 million in exploration at Fetekro over the past three years.
Meanwhile, the PFS suggests that the Kalana project in Mali has potential for 150,000 ounces of gold a year over an 11-year mine life, with low all in sustaining costs. Endeavour purchased Kalana for around $120 million in 2017 and has since overhauled the geological model at the project.
The robust results from the study on both projects will pave the way for definitive feasibility studies in early 2022, whilst allowing for further opportunities to optimise and expand projects through exploration and engineering.
Endeavour’s president and CEO Sebastien de Montessus said: “The positive studies announced today confirm the compelling nature of our two most advanced projects and reinforce our focus on organic growth.
“Together with a number of earlier stage projects, Endeavour now has an attractive pipeline of opportunities, each of which will compete for capital with the goal of generating strong returns across operations, projects and exploration.”