Breaking News: Endeavour’s Assafou Project in Côte d’Ivoire Receives Glowing PFS Results!
Description:
Endeavour Mining plc is thrilled to announce the positive Pre-Feasibility Study (“PFS”) results for the Assafou project located in Côte d’Ivoire. The project has demonstrated an impressive Net Present Value (NPV) of $1,526 million (5%) and an Internal Rate of Return (IRR) of 28% at a gold price of $2,000 per ounce.
Highlights:
The PFS highlights the potential of Assafou to become a tier 1 asset for Endeavour, showcasing a projected production of 329,000 ounces per annum at an All-In Sustaining Cost (AISC) of $892 per ounce over the first 10 years of operation. With a 15-year mine life based on a maiden reserve of 4.1 million ounces, the project boasts robust economics, including an after-tax NPV (5%) of $1,526 million and an IRR of 28%.
The initial capital investment for the project is estimated at $734 million, based on a 5 million tonnes per annum design nameplate capacity with a similar processing plant configuration to the neighboring Lafigué mine. The PFS also reveals a 90% resource to reserve conversion, with defined maiden reserves of 72.8 million tonnes at 1.76 grams per tonne for 4.1 million ounces.
Further resource expansion and definition at the Assafou project, as well as satellite deposits in close proximity, are expected to be incorporated into the Definitive Feasibility Study (“DFS”). The DFS is set to commence with completion anticipated between late 2025 and early 2026.
In conclusion, the Assafou project in Côte d’Ivoire has shown promising results in the PFS, positioning it as a high-quality asset with attractive economics for Endeavour Mining plc.
Impact on Me:
The positive PFS results for the Assafou project in Côte d’Ivoire could potentially impact me by contributing to Endeavour’s overall financial performance and growth prospects. As an investor, this could present an opportunity for potential returns and portfolio diversification.
Impact on the World:
The successful development of the Assafou project has the potential to stimulate economic growth and create job opportunities in Côte d’Ivoire. Additionally, the project could help establish the country as a key player in the global gold mining industry, contributing to sustainable development and prosperity.
Conclusion:
Endeavour’s Assafou project in Côte d’Ivoire has achieved outstanding results in the Pre-Feasibility Study, demonstrating its potential to become a significant asset for the company. With strong project economics and resource reserves, the project is poised for success as it advances to the Definitive Feasibility Study stage. This milestone not only benefits Endeavour Mining plc but also has the potential to have a positive impact on the local economy and the global mining industry as a whole.
