The press release issued on 2 August 2023 in London, Endeavour Mining presents the operational and financial results for the first semester of 2023 for the group. The press release sets out the results for each mine. At 30 June 2023, Endeavour Mining operated 4 mines in Burkina Faso, including Boungou and Wahghion, which were sold to Lilium Mining on 30 June 2023 for a total consideration expected to exceed 303 $ million.
At Boungou, production fell between the first and second trimester, from 19,000 ounces to 14,000 ounces, due to lower milled ore and lower grades. Bonngou was also impacted by delays in the supply chain. Production costs rose from 1,252$/oz to 2,147$/oz between the first and second trimester due to the lower volume of gold sold and higher processing costs as a result of downtime.
At Wahgnion, production fell from 39,000 ounces in the first trimester to 30,000 ounces in the second trimester due to lower ore processed, lower average grades processed and slightly lower recoveries. Production costs increased from 1,354$/oz in the first trimester to 1,817$/oz in the second trimester due to lower volumes of gold sold and increased sustaining capital associated with stripping activities in the Nogbele North pit, in addition to management’s focus on the sale to Lilium.
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Mines Actu Burkina
