The Investment Doctor • Wed, Nov. 5
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- Endeavour Mining performed much better with an AISC of $991/oz with its newest mine being the driving force.
- I was expecting a decent result, but the quarter was better than I expected, despite the high AISC at Tabakoto.
- I would be interested in Endeavour Mining at this point, but the company should now focus on reducing its net debt position.
Update: Endeavour Mining Beats My Expectations - And How
- Endeavour Mining surpasses my production expectations, and will very likely beat its production guidance.
- This is a very positive surprise, and I'm impressed by the new Yagbaou mine.
- Based on my expected cost and production guidance, Endeavour Mining is a bargain if you believe gold won't fall below $1200/oz.
- Endeavour Mining finds more gold literally next to its open pits at the Agbaou project.
- This is a very nice surprise, as the potential to extend the mine life has now been confirmed.
- As Endeavour isn’t exactly a small-scale mining company, the influence of these drill results on the company as a whole will remain limited.
Endeavour Mining: Could This Pink Sheet's Investors 'Strike Gold'?
- Endeavour Mining Corporation, a difficult-to-analyze pink sheet, may be a diamond in the rough.
- The company has posted erratic numbers and negative returns, but steadily rising revenues and impressive operating cash flow save the day.
- This gold mining junior boasts a small, select portfolio of producing mining assets, and aggressively continues to add to them, fostering rapid growth.
- As a gold producer, it compares favourably with competitors in the all-important criterion of AISC, and its mines contain gold of acceptable ore grades.
- Recent poor earnings are overshadowed by several facts and figures suggesting that the company is in good health and is in the ascendant.
- Endeavour Mining produced more ounces at a lower cost in Q2 2014.
- The company will very likely hit the mid-range of its official cost guidance and the upper end of its production guidance.
- The development pipeline is starting to look empty, and I expect Endeavour to make another Africa-focused acquisition shortly.
A Long Term Growth Strategy In West Africa: Endeavour Mining
- Endeavour Mining is a low cost West African gold producer, with very strong and experienced management and board of directors.
- The share is trading below peer average multiples, but this extra "African discount" is probably caused by the Mali conflict and the reputation of Côte d'Ivoire.
- The company has an excellent growth profile, and aims to go from 320,000 oz gold in 2013, via 420,000 oz in 2014 to 580,000-620,000 oz gold in 2016-2017.
- Commercial production at the Agbaou mine in Cote d'Ivoir has been reached.
- Further growth can be expected from the Hounde project in Burkina Faso.
- A strong first quarter has been logged.
- The Tabakoto mine in Mali remains a concern.
Endeavour Mining - Building A Very Nice Production Profile
Exposure To Country Risk: Endeavour Mining EditionItinerant • May. 6, 2013
Endeavour Financial: A Massively Undervalued Gold Investor
Aug. 8, 2012, 11:02 AMEndeavour Mining (EDVMF.PK -14.6%) agrees to buy Avion Gold (AVGCF.PK +27.8%) for $389M, or $0.88/share, a 57% premium to Tuesday's closing price in Toronto. Endeavour says the deal will boost 2012 gold output by ~50%, much of it in West Africa; it now expects to produce 282K-304K oz. of gold this year. | Comment!
EDVMF vs. ETF Alternatives
Endeavour is a gold producer delivering growth. Endeavour owns four gold mines producing more than 400,000 ounces per year in Mali, Ghana, Burkina Faso, and Cote dIvoire. In addition, in November 2013 a Feasibility Study for the Hounde Project in Burkina Faso was completed showing potential for... More
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