Gold producer Endeavour Mining reports adjusted net earnings of $70M in Q1; reiterates 2023 guidance

- Endeavour Mining today reported Q1 2023 production from continuing operations of 300,838 ounces of gold, a decrease of 16% compared to Q1 2022, as FY 2023 production is weighted towards H2 2023.

According to a press release, all-in sustaining costs from continuing operations amounted to $1,022/oz in Q1 2023, up 21% compared to Q1 2022, primarily due to a combination of lower production volumes and higher operating costs partially due to increased cost of fuel and consumables. Endeavour also reported that its Q1 2023 revenue amounted to $590.6 million, a decrease of 14% compared to $688.9 million in Q1 2022 which was predominantly driven by lower sales volumes.

Adjusted EBITDA amounted to $279.1 million for Q1 2023, a decrease of $111.6 million compared to Q1 2022, which was primarily driven by lower revenue and increased operating expenses, exploration costs, and share based compensation.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Indigenous company says battery recycling could ease mining tensions between First Nations, OntarioThree Fires Group said greater emphasis on recycling could help ease tensions over mining claims between Ontario and First Nations. Read on.
Source: calgaryherald - 🏆 64. / 52 Read more »

Barrick CEO Bristow rails against Ottawa’s interference in Canadian mining industryBarrick’s Mark Bristow says it is impossible to exclude China from the minerals and metals industry
Source: globeandmail - 🏆 5. / 92 Read more »