Q2 2024 Endeavour Mining plc Earnings Call Transcript
Key Points
- Endeavour Mining PLC (EDVMF) remains on track to achieve its production guidance for the 12th consecutive year.
- The company announced a new shareholder returns policy, pledging to return at least $435 million in dividends over 2024 and 2025.
- Endeavour Mining PLC (EDVMF) successfully delivered first gold at the Sabodala-Massawa BIOX expansion and Lafigue mine on budget and on schedule.
- The company has made significant progress in its exploration program, advancing resource to reserve conversion at key mines.
- Endeavour Mining PLC (EDVMF) received an improved Sustainalytics score, ranking it as the highest gold producer in the sector for ESG performance.
- All-in sustaining costs are expected to be near the top end of the range due to lower-than-expected power availability and higher royalty costs.
- Production at Sabodala-Massawa is expected to be below the low end of the guidance range, with costs above the top end due to lower-than-expected grade non-refractory ore.
- The company faced higher tax expenses, impacting net earnings and adjusted net earnings.
- Endeavour Mining PLC (EDVMF) experienced lower grid power availability in Cote d'Ivoire and Burkina Faso, leading to increased self-generated power costs.
- The departure of key executives, including the COO and EVP Exploration, may pose challenges in maintaining operational continuity.
Hello, everyone, and welcome to Endeavour's Quarter 2 and Half Year Results Webcast. Before we start, please note our usual disclaimer. On the call today, I'm joined by Ian Cockerill, our CEO; Guy Young, our CFO; and Mark Morcombe, our COO. Today's call will follow our usual format. Ian will first go through the highlights of our results. Guy will present the financials, and Mark will walk you through our operating results by mine. Before handing back to Ian for his closing remarks. We will then open the line up for questions. With that, I will now hand over to Ian.
Thank you, Jack, and hello to everyone joining us on the call today. I'm pleased to report that during my first half year as Chief Executive Officer, we are continuing to deliver against our strategic objectives. On the operational side, we remain on track to achieve our production guidance for the 12th consecutive year, with all-in sustaining costs expected
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