VANCOUVER, March 6, 2014 /CNW/ - Endeavour Mining Corporation ("Endeavour" or the "Corporation") (TSX:EDV) (ASX:EVR) (OTCQX:EDVMF) announces that its Agbaou Gold Mine has completed the first two months of 2014 having achieved an average daily milling rate at 115% of plan and delivered gold production of 18,375 ounces representing 133% of plan.
Agbaou Operating Highlights during January and February 2014
| | Two months
ended
February 28,
2014
Actual | Two months
ended
February 28,
2014
Budget | Variance |
Safety & Environment
Lost time injuries | Nil | Nil | |
Processing
Ore milled (t)
Average daily milling rate (tpd)
Head grade (g/t)
Contained gold (oz)
Metallurgical recovery (%)
Gold recovered (oz) | 322,655
5,469
1.83
18,962
97%
18,375 | 281,207
4,766
1.65
14,918
92%
13,769 | 115%
133% |
Note: Commercial production was declared on January 27, 2014
Neil Woodyer, CEO, stated
"After a tremendous amount of hard work on the part of the entire team, we are delighted by the strong start at Agbaou that has outperformed all of our key metrics. Agbaou has quickly achieved and sustained design capacity and is fully ramped up, and Agbaou is now a significant cash flow generator.
Qualified Persons
Adriaan "Attie" Roux, Pr.Sci.Nat, Endeavour's Chief Operating Officer, is a Qualified Person under NI 43-101, and has reviewed and approved the technical information related to mining operations in this news release.
About Endeavour Mining Corporation
Endeavour is a Canadian-based gold mining company producing over 400,000 ounces per year from four mines in West Africa. Endeavour is focused on effectively managing its existing assets to maximize cash flow as well as pursuing organic and strategic growth opportunities that benefit from its management and operational expertise.
On behalf of Endeavour Mining Corporation
Neil Woodyer
Chief Executive Officer
This news release contains "forward-looking statements" including but not limited to, statements with respect to Endeavour's plans and operating performance, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs of future production, future capital expenditures, and the success of exploration activities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts" and "anticipates". Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to international operations; risks related to general economic conditions and credit availability, actual results of current exploration activities, unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables, possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Endeavour operates. Although Endeavour has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Please refer to Endeavour's most recent Annual Information Form filed under its profile at www.sedar.com for further information respecting the risks affecting Endeavour and its business.
SOURCE Endeavour Mining Corporation
