Endeavour Mining to increase production in 2020
Higher precious metal prices helped. Adjusted net earnings for FY-2019 were up 39% over FY-2018 to $74 million or 67 cents a share.
Operating cash flow for FY-2019 was up 20% over FY-2018 to $302 million or $2.75 a share.
Costs climbed in 2019. All-in-sustaining costs were $818 per ounce, up 10% from the year prior. The company said it faced a higher strip ratio, lower recovery rates, and higher unit mining costs.
In 2020 the company forecasts higher production and lower costs. Group production is expected to increase to 680-740koz in 2020 at an AISC of $845-895/oz.
At Endevour's Ity Mine production will be between 235,000 to 255,000 ounces in with a AISC of $630-675/oz.UPDATED: Story updated to report group outlook.