Endeavour Mining Launched Lafigue Gold Mine Construction

SEATTLE (Scrap Monster): Endeavour Mining-one of the largest West African gold producers, announced that it has launched the construction of Lafigue gold mine project on the Fetekro property in Cote d’Ivoire. This follows successful completion of a robust Definitive Feasibility Study (DFS).

According to the company, the DFS has further reiterated the company’s assumption that the mine has the potential to turn out to be a cornerstone asset for the company in the region. It expects the mine to produce 203koz of gold per annum at a comparatively lower AISC of $871 per oz over its initial mine life of 12.8 years. Also, the company projects an after-tax IRR of 21% and NPV5% of $477 million, based on a gold price of $1,500 per oz.

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Meantime, the construction is already underway, with first gold production expected by Q3 2024.

Sebastien de Montessus, President and CEO, Endeavour Mining noted that the construction of Lafigue will help the company to enhance its geographic diversification and improve the quality of its portfolio. The confirmation of mineralization at several targets close by the Lafigue deposit adds significantly to the exploration potential of the project, he noted.

Endeavour Mining targets a discovery of 1.5 – 2.0 Moz of Indicated resources across the Fetekro exploration permit area over the period from 2021 to 2025.