Breaking News: Endeavour’s Assafou Project in Côte d’Ivoire Receives Glowing PFS Results!
Description:
ENDEAVOUR ANNOUNCES POSITIVE PFS RESULTS FOR ASSAFOU PROJECT IN CÔTE D’IVOIRE $1,526m NPV (5%) and IRR of 28% at $2,000/oz • 329kozpa at AISC of $892/oz over first 10 years HIGHLIGHTS: PFS confirms Assafou’s potential to become a tier 1 asset for Endeavour PFS highlights 329kozpa production at AISC of $892/oz over first 10 years: 15-year mine life based on maiden reserve of 4.1Moz Robust project economics with after-tax NPV ( 5%) of $1,526m and IRR of 28%, at a $2,000/oz gold price Initial capital of $734m based on a 5Mtpa design nameplate capacity with a similar processing plant configuration as the nearby Lafigué mine 90% resource to reserve conversion with defined maiden reserves of 72.8Mt at 1.76g/t for 4.1Moz Indicated resources of 73.6Mt at 1.95g/t for 4.6Moz based on a drilling cutoff in October 2023, with over 70,000 metres of drilling completed subsequently Further resource expansion and definition at Assafou, and satellite deposits in close proximity to Assafou, is expected to be incorporated into the DFS Given the high-quality project and attractive economics, the DFS will now commence with completion expected between late 2025 and early 2026 Abidjan , 11 December 2024 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (“Endeavour”, the “Group” or the “Company”) is pleased to announce that it has recently completed a positive Pre-Feasibility Study (“PFS”) for the Assafou-Dibibango (“Assafou”) project on the Tanda-Iguela property in Côte d’Ivoire. The PFS results meet Endeavour’s strategic targets and confirm Assafou’s potential to be a tier 1 asset, which justifies advancing the project to the Definitive Feasibility Study (“DFS”) stage.
How Will This Affect Me?
The positive PFS results for the Assafou project in Côte d’Ivoire can potentially lead to increased job opportunities, economic growth, and infrastructure development in the region. As the project moves forward to the DFS stage, there may be potential investment opportunities for individuals interested in the mining industry or sustainable development in emerging markets like Côte d’Ivoire.
How Will This Affect the World?
The successful development of the Assafou project can have a ripple effect on the global gold market and mining industry. Increased gold production from the project could contribute to meeting worldwide demand for the precious metal and potentially influence global gold prices. Furthermore, the environmentally responsible practices and sustainable mining techniques implemented in the project could set new standards for future mining projects worldwide.
Conclusion:
The positive PFS results for Endeavour’s Assafou project in Côte d’Ivoire are a significant milestone for the company and a promising development for the mining industry in the region. With the potential to become a tier 1 asset, the Assafou project showcases the strategic vision and commitment of Endeavour Mining plc towards sustainable development and economic growth in Côte d’Ivoire.
