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Interview: Endeavour’s CEO Sebastien de Montessus on M&A, the “magic box” and creating a Top Ten gold miner
A pit at Endeavour Mining’s Ity gold mine in Côte d’Ivoire. Credit: Endeavour Mining.
Endeavour Mining (TSX: EDV; US-OTC: EDVMF) has become a Top Ten global gold producer since announcing two major acquisitions last year – Semafo and Teranga Gold. It is now the largest gold producer in West Africa with a production base across six mines in three countries, and has the largest exploration portfolio in the region, with a development pipeline of six greenfield projects. Last year Endeavour produced 908,000 oz. gold, up 39% year-on-year, at all-in sustaining costs of US$860 per ounce, and announced its first-ever dividend. In less than 18 months it also reduced its net debt position by over US$660 million, ending 2020 with a cash position of US$70 million. This year the company’s priority is to unlock value organically through mine life extensions