EDV blows it again! WAY too much info packed into one News Release! ...............
Can't these guys string this tuff out over 2 weeks? But look at this - These parts of the EDV news really STINKS!
endeavourmining.com.
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Update on Near-term Production Growth Projects
Tabakoto Gold Mine, Mali - Expansion to be Completed in Q1 2013
Agbaou Gold Mine, Côte d'Ivoire - Currently in Construction
Houndé Gold Project, Burkina Faso - PEA Completed, Infill-drilling Underway, Feasibility Study Commenced
Mine-life Extensions
Ouaré - PEA Results in an Attractive Potential Addition to Extend Youga Life
Nzema Sulphides - PEA Completed, Potential to Extend Nzema Life upon Depletion of Oxide Reserves
Financing Activities
In December 2012 Endeavour took the following steps to maximize short and medium term exposure to the gold price:Eliminated the company's 2013 gold hedge positions, comprising 12,132 ounces at Tabakoto and 10,000 ounces at Nzema for a cost of $17.3 million; as a result, 100% of Endeavour's 2013 gold production will be sold at spot prices.
Accumulated a holding of 27,000 ozs of gold bullion ($45.2 million at a current spot price of $1,675/oz), which partially offsets the remaining hedge positions in 2014 to 2016.Endeavour also fully repaid the $28.2 million balance of the credit facility with Bank Atlantique Mali which had been used by Avion to advance the Tabakoto mill expansion in 2011.
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I mean REALLY????
Exceed production guidance?
Growth plans?
3 PEAs
Extending mine life on existing mines?
Getting rid of hedges? |
