30th Jan 2025 10:54
(Correcting amount of 2024 full-year dividend.)
(Alliance News) - Endeavour Mining PLC on Thursday noted higher production in 2024, and raised its final dividend, despite climbing debt.
The London-based mining company focused on West African gold produced 1.10 million ounces of the mineral during 2024, compared to 1.07 million ounces the year prior.
The company set its 2024 dividend per share at 98 US cents, up 21% from 81 cents in 2023. This resulted from a "record" second-half dividend per share of 57 US cents, up 39% from 41 US cents a year prior.
Endeavour's shares were up 2.2% to 1,575.00 pence each on Thursday morning in London.
The gold miner claimed to end 2024 in a "strong" position, despite reporting net debt at December 31 of USD732 million, a 32% rise from USD555 million at the end of 2023.
Endeavour estimated a leverage ratio below 0.60x at December 31, down from 0.77x at September 30. The company maintained it was on track to meet its long-term target ratio of below 0.50x leverage.
For 2025, Endeavour's production guide is between 1.10 million and 1.26 million ounces of gold. This reflects up to 15% growth on 2024's 1.10 million ounces. The company expected growth to be evenly distributed across its various sites in Burkino Faso, Senegal and the Ivory Coast.
By Holly Munks, Alliance News reporter
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