Endeavour Mining Corporation Reports Group Gold Production for the Fourth Quarter and Full Year Ended December 31, 2016; Reports Net Debt for the Year Ended December 31, 2016; Provides Production Guidance for the Year 2017
For the year 2016, gold production was 583,712 ounces compared with 516,646 ounces a year ago. Free cash flow (before growth projects, WC, tax and financing cost) was $135 million compared with $85 million a year ago.
For the year ended December 31, 2016, the company reported net debt decrease from $144 million to $25 million.
For the year 2017, Gold production expected to increase to 600-640koz, excluding Houndé, and AISC expected to decrease further to $860-905/oz. Free Cash Flow (before growth projects, WC, tax and financing cost) expected to increase to $150 million, based on the 2016 realized gold price of circa $1,240/oz.