31st Jul 2025 11:29
(Alliance News) - Endeavour Mining PLC on Thursday reported a surge in profit for the first half of 2025 as gold production and realised prices ticked up.
The London-based gold producer in West Africa said pretax profit multiplied to USD759 million in the six months that ended June 30, from USD63 million a year prior.
Revenue from continuing operations was near-double the previous year at USD2.05 billion, compared to USD1.03 billion. Revenue was slightly lower in the second quarter than the first. It decreased to USD1.01 billion in three months to June 30 from USD1.04 billion in the three months to March 31.
Endeavour Mining produced 647,000 ounces of gold in the half-year, 38% higher than 470,000 ounces the previous year. All-in sustaining costs were USD1,281 per ounce, up 4% from USD1,237.
During the six-month period, the average realised gold price rose to USD2,953 per ounce from USD2,167 per ounce on-year.
Endeavour Mining declared a "record" first-half dividend of 62 US cents per share, up 51% from 41 cents in 2024.
Poduction is on track to meet full-year guidance of between 1.1 million and 1.3 million ounces of gold, with an all-in-sustaining-costs range of USD1,150 to USD1,350 per ounce. In 2024, total production came to 1.1 million ounces at an AISC of USD1,218 per ounce.
"We are very pleased with the operational performance we have delivered from our expanded portfolio and our ability to convert that performance into cash flow. Our high-margin, long-life operations, coupled with our exciting organic growth pipeline positions us well to continue delivering against our strategic objectives," commented Chief Executive Ian Cockerill.
Endeavour expects to complete a definitive feasibility study for the Assafou mine in Ivory Coast by early 2026, noting "the permitting process is well advanced". According to pre-feasibility results released by the company in December, Assafou has the potential to produce 329,000 ounces of gold annually for the first ten years at AISC of USD892 per ounce.
Endeavour Mining shares were up 1.7% at 2,372.00 on Thursday morning in London.
By Holly Munks, Alliance News reporter
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