Endeavour Achieves First Gold Pour At Sabodala-Massawa Expansion - Seite 2

With the Sabodala-Massawa expansion successfully commissioned, we are now focussed on delivering the Lafigué project in the coming weeks, a full quarter ahead of schedule. The successful launch of both the Sabodala-Massawa expansion and the Lafigué project will further improve the quality of the portfolio, adding low-cost production and extending mine life visibility. The completion of the two projects underpins our transition to a more cash flow generative phase, from the second half of the year, when we will focus on enhancing shareholder returns and de-levering our balance sheet, as we continue to execute on our strategy.”

Since the start of wet commissioning on 27 February 2024, approximately 50,000 tonnes of ore have been processed through the BIOX Expansion, with the processing plant operating in line with expectations. The first gold pour from the gravity circuit was completed on 18 April 2024 and yielded approximately 112 ounces of gold, the first gold pour from the BIOX circuit was completed on 28 April 2024 and yielded approximately 612 ounces. The BIOX Expansion is expected to achieve commercial production in late Q2-2024 and ramp up to its stable nameplate capacity of 1.2Mtpa, in Q3-2024 

Figure 1: First gold pour from the BIOX circuit pictured at the Sabodala-Massawa BIOX Expansion project

Figure 2: Lawrence Manjengwa, Vice President and Head of Operations at Sabodala-Massawa, pictured with the first gold bar from the BIOX circuit at the Sabodala-Massawa BIOX Expansion

SABODALA-MASSAWA EXPLORATION PROGRAMME

At Sabodala-Massawa, 2.3 – 2.7Moz of Indicated resources discoveries are being targeted over the 2021 to 2025 period, of which 1.0Moz has already been discovered. This year an aggressive $21.0 million exploration program, totalling approximately 126,000 meters of drilling, has been planned with the aim of converting existing resources into reserves and delineating additional refractory and non-refractory resources across the Sabodala and Massawa mining permits, in addition to the recently acquired Niamaya exploration permit to the northeast of Sabodala-Massawa complex. The Niamaya permit is located within close proximity to the processing plant and increases the size of the Sabodala-Massawa exploration package by 43km² to 1,272 km².