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Endeavour Mining adds three million ounces of gold to resource inventory in 2021

Monday, January 17, 2022 5:33

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Endeavour Mining Corporation said it added three million measured and indicated ounces of gold to its resource inventory in 2021, exceeding a target of 2.5mln ounces.

An additional 900,000 was added in the inferred category, mainly at the Ity project.

Discovery costs were US$16 per ounce, a somewhat nebulous measure in the industry, but nevertheless interesting to set against the current gold price of over US$1,800 per ounce.

Measured and indicated resources on the Lafigué deposit, on the Fetekro property, were boosted by 18% to 2.9mln ounces, helping to justify an increase in planned output.

Separately, the company continued with its share buyback programme, making another on market purchase at the end of last week.

Story by ProactiveInvestors

Source: https://www.proactiveinvestors.com/companies/news/971287/endeavour-mining-adds-three-million-ounces-of-gold-to-resource-inventory-in-2021-971287.html

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