Endeavour Mining, a London-based gold-mining company, announced that its gold production for the fourth quarter of the year met expectations and projected further growth.
Fourth Quarter Production
During the fourth quarter, Endeavour Mining produced 280,000 ounces of gold, which remained consistent with the previous quarter. The all-in sustaining cost (AISC) per ounce was approximately $936.
Annual Gold Production for 2023
The company's annual gold production for 2023 was slightly lower compared to the previous year, reaching 1.07 million ounces. On a continuing basis, the AISC was $964 per ounce, or 1.17 million ounces on a total basis. This production aligned with the company's guidance of 1.06 million to 1.135 million ounces for continuing production.
Outlook for 2024
Endeavour Mining has provided guidance for its gold production in 2024. The projected range is between 1.13 million to 1.27 million ounces with several project start-ups planned for the second quarter of the year. The AISC is expected to be in the range of $955 to $1,035 per ounce.
In addition to its successful production results, Endeavour Mining plans to distribute $100 million in dividends for the second half of the year, bringing the total dividend for the year to $200 million.
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