“We have commissioned the project and delivered first gold in only 2 years, marking the fourth capital project that we have completed in the last 10 years. All of these have been completed in two years or less, and have been delivered on schedule, on budget and with no lost time injuries. This is a testament to the quality of our projects team and the competitive advantage we have in West Africa,” he added.
The operation is expected to achieve commercial production in late Q2 of this year, ramping up to its nameplate capacity of 1.2 million metric tons annually in Q3. Since the start of wet commissioning in February, approximately 50,000 metric tons of ore have been processed through the project, with operations meeting expectations so far.
The gravity circuit’s first gold pour came on April 18, followed by the first gold pour from the BIOX circuit on April 28.
The Sabodala-Massawa expansion, which began in early 2022, is anticipated to yield incremental production of 1.35 million ounces of gold at an all-in sustaining cost (AISC) of US$576 per ounce over the life of the project.
The mine is comprised of two mining licenses, with Endeavour holding a 90 percent stake in each license, and the government of Senegal holding the remaining interest.
Looking ahead, Endeavour plans to focus on an aggressive exploration program at Sabodala-Massawa, targeting resource-to-reserve conversion and adding near-mine refractory and non-refractory resources.
Proven and probable reserves currently amount to 3.5 million ounces of gold, with measured and indicated resources reaching a figure of 5.4 million ounces.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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