Saturday, May 31, 2025

Latest

Endeavour Mining Sells Karma Mine For $25 Million, 2.5% NSR, Lowers Production Guidance

Endeavour Mining (TSX: EDV) announced this morning the sale of 90% of its interest in Karma mine in Burkina Faso. The transaction is reportedly in exchange for $25.0 million and a 2.5% net smelter return royalty.

The sale is made to Néré Mining, a Burkina Faso-based mining consortium, which the firm said was a “key consideration in the sale process”. The 10% equity not held by Endeavour was owned by the state of Burkina Faso.

“The sale of our non-core Karma mine to Néré Mining is in line with our strategy of actively managing our portfolio to focus management efforts on high margin, long-life and low all-in sustaining cost, core assets,” said CEO Sébastien de Montessus.

Under the terms of the agreement, the cash payment is scheduled in that $10.0 million was paid upfront prior to closing, $5.0 million to be paid after six months, and the contingent $10.0 million to be paid after 12 months based on a sliding scale tied to the average spot gold price at the time of payment.

The firm also gets a 2.5% NSR royalty on all ounces produced in excess of 160,000 ounces.

Following the sale, the company lowered its 2022 production guidance to 1.315 – 1.4 million gold ounces from 1.4 – 1.5 million ounces.

Endeavour Mining last traded at $33.53 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

Endeavour Mining Offers $500 Million Senior Notes, Secures $500 Million Revolving Credit

Endeavour Mining (TSX: EDV) this morning announced the launch of its senior notes offering. The firm...

Friday, October 1, 2021, 10:30:00 AM

Former Endeavour CEO Stands To Lose $29 Million After Being Fired

Sébastien de Montessus, the former President and Chief Executive Officer of Endeavour Mining (TSX: EDV),...

Friday, January 19, 2024, 09:47:00 AM

Endeavour Mining Q4 Earnings: Cash Flow Isn’t Everything

If you want a sign that the markets are looking weak lately, perhaps take a...

Saturday, March 15, 2025, 03:40:00 PM

Endeavour Mining Reports “Record” Free Cash Flow, Wider Net Loss In Q4 2024

Endeavour Mining (TSX: EDV) has released its full-year and Q4 2024 financial and operational results....

Saturday, March 8, 2025, 09:25:00 AM

Endeavour Mining Sees Adjusted EBITDA Climb To $398 Million In Q1

Endeavour Mining (TSX: EDV) this morning reported its first quarter financial results. Gold production during...

Thursday, May 5, 2022, 08:43:29 AM