Suncor Energy: Endeavour Mining Corp

Endeavour Mining Corp - EDV.t is an intermediate gold producer expecting to produce between 535,000 to 560,000 ounces from its four operating mines in Côte d’Ivoire, Mali, Ghana, and Burkina Faso.
The Company has Proven and Probable mineral reserves of 5.8 million ounces and Measured and Indicated mineral resources of 10.2 million ounces.Operates two mines.

On May 2, 2016 the company reported Numbers

"First Quarter 2016 Highlights

Gold production of 132koz, on-track to meet full-year guidance with higher production expected in the upcoming quarters
All-in Sustaining Cost further decreased to $900/oz ($889/oz excluding Youga which was divested end of February), in line with full-year guidance of $870 to $920/oz
All-in sustaining margin up 54% over the previous quarter to $37m, lifted by lower AISC/oz and higher gold prices
Free Cash Flow (before tax, WC & financing costs) of $28m, slightly above guidance
Net debt reduced to $136m at quarter-end from $259m as of March 31, 2015; and further reduced to $71m following the La Mancha $65m anti-dilution cash injection under the True Gold acquisition

George Town, May 2, 2016 - Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce its financial and operating results for the quarter ended March 31, 2016, with highlights provided in the table below.

Table 1: Key Operational and Financial Highlights

All amounts in US$	Q1-2016	Q4-2015	Q1-2015
Gold Production, oz	131,567	136,844	123,744
Realized Gold Price, $/oz	1,192	1,102	1,219
AISC, $/oz	900	934	946
All-in Sustaining Margin, $/oz	292	168	273
All-in Sustaining Margin, $m	37	24	34
Free Cash Flow, $m (before WC, tax & financing costs)	28	12	25
Net Debt At Period End, $m	136	144	259

Neil Woodyer, CEO of Endeavour, stated: “Our first quarter results have met our expectations and we are on track to achieve our objectives for 2016. The Agbaou and Ity mines are delivering excellent performance and the underground Tabakoto mines should gain momentum in the coming quarters.

Our group AISC has continued to decrease, achieving $889/oz from our current operations, which provides a solid cash generation foundation. We have also strengthened our financial position with the cash received from La Mancha following the close of the True Gold transaction.

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