Endeavour Announces Q2 Production Results, Updates Guidance

Endeavour Mining Corporation (TSX:EDV) announced the production results for the second quarter of 2012, producing a total of 102,691 ounces of gold. The company updated its full year 2012 production guidance as a result of such a strong H1 performance, to between 187,000 and 202,000 ounces of gold.

 

As quoted in the press release:

Production results for the second quarter ending June 30, 2012 include 27,863 ounces from the Nzema mine and 22,865 ounces from the Youga mine for total gold production of 50,728 ounces (see Table 1). Nzema cash costs (excluding purchased ore ounces) were in the range of $620-640 per ounce and Youga’s cash costs were in the range of $590-610 per ounce.

Neil Woodyer, CEO of Endeavour, commented:

We are pleased to deliver above-guidance production results from our two mines for the first half of 2012. Our strong performance to date has allowed us to increase our production guidance for the year by about 8%. Given our focus on growth, the most important result of expanding production is increasing cash flow, which funds exploration, potential acquisitions and development, including construction of our third mine, now underway.

Click here to read the full press release.