Endeavour Receives an In-Principle Agreement from the Government of Côte d'Ivoire to Increase its Ity Ownership to 80%
(Thomson Reuters ONE) -
ENDEAVOUR RECEIVES AN IN-PRINCIPLE AGREEMENT FROM THE GOVERNMENT OF COTE
D'IVOIRE TO INCREASE ITS ITY OWNERSHIP TO 80%
View News Release in PDF Format
George Town, March 22, 2017 - Endeavour Mining Corporation
(TSX:EDV)(OTCQX:EDVMF) confirms it has received an in-principle agreement from
the Government of Cote d'Ivoire to increase its stake in the Ity mine from 55%
to 80%.
The Cabinet meeting held this morning by the President of Cote d'Ivoire, his
Excellency M. Ouattara, approved the in-principal agreement for SODEMI, the
state-owned mining company, to sell a 25% shareholding in the Ity mine to
Endeavour. Following the transaction, the Ity mine would be 80%-owned by
Endeavour, 10% by the Drogba Group and 10% by the government of Cote d'Ivoire.
The commercial terms of the transaction remain to be finalized.
CONTACT INFORMATION
Martino De Ciccio DFH Public Affairs in Toronto
VP - Strategy & Investor Relations John Vincic, Senior Advisor
+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
ABOUT ENDEAVOUR MINING
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 2017, it expects to
produce between 600koz and 640koz at an AISC of US$860 to US$905/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.
Corporate Office: 5 Young St, Kensington, London W8 5EH, UK
View News Release in PDF Format:
http://hugin.info/171882/R/2089917/789075.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: 22.03.2017 - 20:27 Uhr
Sprache: Deutsch
News-ID 531977
Anzahl Zeichen: 3448
contact information:
Town:
George Town, Grand Cayman
Kategorie:
Business News
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"Endeavour Receives an In-Principle Agreement from the Government of Côte d'Ivoire to Increase its Ity Ownership to 80%"
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