Endeavour further streamlines its organizational structure and appoints new CFO
(Thomson Reuters ONE) -
Endeavour further streamlines its organizational structure and appoints new CFO
View News Release in PDF Format
George Town, October 4, 2016 - Endeavour Mining Corporation
(TSX:EDV)(OTCQX:EDVMF) is pleased to announce the appointment of Vincent Benoit
to the newly created position of Executive Vice President, Chief Financial
Officer and Corporate Development effective November 1, 2016. Mr. Benoit was
formerly Executive Vice President Strategy and Business Development. In his
enhanced role, Mr. Benoit will oversee finance, strategy, corporate development
and investor relations.
Ota Hally, current Chief Financial Officer, will remain with Endeavour until
December 31, 2016 to support Mr. Benoit and help facilitate a seamless
transition in his expanded role.
Douglas Bowlby, Executive Vice President Corporate Development, and Richard
Thomas, Executive Vice President Technical Services, have also stepped down from
their roles and will not be replaced.
Endeavour's leadership team will now be comprised of six executives compared to
ten at the beginning of the year. As part of its optimization efforts, the
Company is also announcing the relocation of its corporate functions from its
Vancouver, Paris, and Monaco offices to a new Corporate Office in London. This
follows the recently completed relocation of the Company's Operations Office
from Accra (Ghana) to Abidjan (Côte d'Ivoire), where Attie Roux (COO), Jeremy
Langford (EVP, Projects), Patrick Bouisset (EVP, Exploration and Growth) and
their teams are now based, allowing for more collaboration and proximity to our
core West African operations.
Sébastien de Montessus, President and CEO, stated:
"These executive and organizational changes are consistent with our efforts to
rationalize and streamline Endeavour's organizational structure and reinforce
the focus of the company on our operations and the highly prospective
exploration package we hold in West Africa. Our leadership team is now leaner
and more cost efficient, with the right expertise and track-record necessary to
develop Endeavour into a premier African gold producer.
I am pleased to have an accomplished executive such as Vincent Benoit move into
his new role, and I am confident that his financial acumen and experience in
large companies will be instrumental in increasing our efficiency across the
business.
On behalf of the Company, I would like to thank Doug, Ota and Richard for their
exceptional dedication and contribution to Endeavour over the past years, and
wish them all the best for the future."
The executive team reporting to Sébastien de Montessus (CEO & President) will
now be comprised of Attie Roux (Chief Operating Officer), Jeremy Langford (EVP,
Projects), Patrick Bouisset (EVP, Exploration and Growth), Morgan Caroll (EVP,
Corporate Finance & General Counsel) and Vincent Benoit (EVP, Chief Financial
Officer and Corporate Development).
About Vincent Benoit
Mr. Benoit is a seasoned executive, with more than 25 years of corporate
finance, investor relations and M&A experience in the mining, energy and telecom
sectors. He joined Endeavour as Executive Vice President Strategy and Business
Development in November 2015 following the transaction with La Mancha. While at
La Mancha from 2013 to 2015, he was Executive Vice President, Strategy &
Business Development where he successfully led the group's portfolio
restructuring which repositioned La Mancha as a leading private mining investor
through strategic alliances formed with Evolution Mining Ltd. and Endeavour
Mining. Previously, as EVP Mergers & Acquisitions at Orange, he was responsible
for the development of the group's African footprint, its European portfolio
restructuring, and forming strategic partnerships. At Orange, he was also Head
of Strategy & Investor Relations. Mr. Benoit held previously held various
finance positions including with Areva, Bull Information System, and PwC. He
holds a business degree from ESC-Bordeaux Business School and is a Chartered
Accountant.
About Endeavour Mining Corporation
Endeavour Mining is a TSX-listed intermediate gold producer, focused on
developing a portfolio of high quality mines in the prolific West-African
region, where it has established a solid operational and construction track
record.
Endeavour is ideally positioned as the major pure West-African multi-operation
gold mining company, operating 5 mines in Côte d'Ivoire (Agbaou and Ity),
Burkina Faso (Karma), Mali (Tabakoto), and Ghana (Nzema). In 2016, it expects to
produce between 575koz and 610koz at an AISC of US$870 to US$920/oz. Endeavour
is currently building its Houndé project in Burkina Faso, which is expected to
commence production in Q4-2017 and to become its flagship low-cost mine with an
average annual production of 190koz at an AISC of US$709/oz over an initial 10-
year mine life based on reserves. The development of the Houndé project is
expected to lift Endeavour's group production +900kozpa and decrease its average
AISC to circa $800/oz by 2018, while exploration aims to extend all mine lives
to +10 years.
Contact Information
Martino De Ciccio DFH Public Affairs in Toronto
VP - Strategy & Investor Relations John Vincic
+33 (0)1 70 38 36 95 (416) 206-0118 x.224
mdeciccio(at)endeavourmining.com jvincic(at)dfhpublicaffairs.com
Brunswick Group LLP in London
Carole Cable, Partner
+44 7974 982 458
ccable(at)brunswickgroup.com
Endeavour Mining | Executive Office | Bureau 76, 7 Boulevard des Moulins,
Monaco 98000
This news release contains "forward-looking statements" including but not
limited to, statements with respect to Endeavour's plans and operating
performance, the estimation of mineral reserves and resources, the timing and
amount of estimated future production, costs of future production, future
capital expenditures, and the success of exploration activities. Generally,
these forward-looking statements can be identified by the use of forward-looking
terminology such as "expects", "expected", "budgeted", "forecasts", and
"anticipates". Forward-looking statements, while based on management's best
estimates and assumptions, are subject to risks and uncertainties that may cause
actual results to be materially different from those expressed or implied by
such forward-looking statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Please refer to Endeavour's most recent
Annual Information Form filed under its profile at www.sedar.com for further
information respecting the risks affecting Endeavour and its business.
View News Release in PDF Format:
http://hugin.info/171882/R/2046648/764882.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Endeavour Mining Corporation via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 04.10.2016 - 14:10 Uhr
Sprache: Deutsch
News-ID 498670
Anzahl Zeichen: 8413
contact information:
Town:
George Town, Grand Cayman
Kategorie:
Business News
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