Endeavour delivers strong PFS results for Fetekro and Kalana
(Kitco News) - Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) today announced that it has recently completed a positive pre-feasibility study (“PFS”) for both its Fetekro (Côte d’Ivoire) and Kalana (Mali) projects.
The company said that Fetekro PFS shows potential for average annual production of 209koz of gold at AISC of $838/oz over 10-year mine life based on current reserves of 2.1Moz. The project’s PFS delivers robust economics with after-tax NPV5% of $479m and IRR of 33%, based on a $1,500/oz gold price.
Kalana PFS shows potential for average annual production of 150koz of gold at AISC of $901/oz over 11-year mine life based on current reserves of 1.8Moz. The project’s PFS demonstrates strong economics with after-tax NPV5% of $331m with IRR of 49% based on a $1,500/oz gold price.
Endeavour added that strong PFS results confirm that both projects justify moving forward to the definitive feasibility study, which will now commence, with further opportunities to optimize and expand the projects through exploration and engineering.
Endeavour Mining is one of the world’s top ten senior gold producers and the largest in West Africa, with operating assets across Senegal, Cote d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.