Endeavour is maintaining SEMAFO's non-sustaining capital expenditure guidance on Mana and Boungou, and therefore expects the FY-2020 Pro Forma Group amount to stand at $60 million. Welcome to the Endeavour Silver Corp. Third Quarter 2020 Financial Results Conference Call. Minimal work was done in H1-2020 as the Côte d'Ivoire exploration efforts were concentrated on Ity and Fetekro. In addition, the Group has also taken a number of proactive steps, including: Assessing the supply chain with a focus on ensuring continuity of supply in a range of scenarios. For more information, please visit Right now, the timeline is what we have in the TFS, but subject to any additional work, we do in the FS, in the feasibility study. If you've got a couple hundred people coming through the gate, it takes quite a bit to get them all checkout and evaluated. These measures are presented as they can provide useful information to assist investors with their evaluation of the SEMAFO's and the pro forma performance. It is a prequel to the long-running Inspector Morse and, like that series, is set primarily in Oxford. The H1-2020 Group exploration spend was $36.0 million, comprising of 234,866 meters drilled. We grow customer bases to ensure our clients realize strong returns. Yes. For a discussion regarding the company’s use of Non-GAAP Measures, please see "note regarding certain measures of performance" in the MD&A. Find Ford Endeavour (2016-2019) Sales Figures/ Statistics for 20 month by month at AutoPortal.com. 12/21: VANGOLD MINING: to Acquire El Cubo Mine and Mill from Endeavour Silver Corp: AQ. It's been a great quarter. Refer to the non-GAAP measure section of the MD&A. Studies are underway with the aim of publishing a Preliminary Economic Assessment (“PEA”) on Fetekro and a Preliminary Feasibility Study (“PFS”) on Kalana during H2-2020. It actually is really good. Perfect. This was mainly attributable to the negative non-cash working capital variance of $28 million compared to the positive $9 million variance in Q1-2020 (details in note 8 above), coupled with  a $17 million decrease in revenue as a result of 25koz fewer gold sold, a $17 million outflow related to gold collar fees and settlements, and an $12 million increase in taxes paid. If you're using a speakerphone, please pick up your handset before pressing any keys. That's actually really good how are you guys play off of one another. Just any colour you can give us. Sustaining capital spend for FY-2020 is expected to amount to approximately $8.0 million (of which $3.4 million has been incurred in H1-2020), an increase compared to the initial FY-2020 guidance of $4.0 million due to increased waste extraction following the change in the mine plan. I mentioned already our balance sheet cash was up 47% to just shy of $45 million, and working cap is up in the $54 million range up 21% year-on- year. Thanks, Heiko. Very informative. Endeavour Silver : Dual Listed Endeavour Silver Agrees to Sell El Cubo Mine in Mexico to VanGold for US$15 Million Should you need assistance during the conference call, you may signal an Operator by pressing star, and zero. Ultimately, we spent almost $1 million, a little bit more than $1 million this quarter than what we had planned. Company VAT Number: GB344692676 Sustaining and non-sustaining capital spends for FY-2020 are expected to amount to approximately $49.0 million and $10.0 million, respectively. Mining unit costs increased from $2.66 to $2.76 per tonne mined due to mining more fresh material at a deeper elevation in the North and South pits. In addition, other targets such as Dohoun and Sia/Sianikoui are expected to be tested. Company VAT Number: GB344692676 Meanwhile, sales figures of the Ford Endeavour in November 2019 were 724 units. Tonnes stacked are expected to remain fairly stable outside of the rainy season. We're very conservative in that standpoint. George Town, August 5, 2020 – Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce its financial and operating results for the second quarter and half year 2020, with highlights provided in table 1 and 2 below. The campaign, which offers assured gifts and prizes worth up to Rs 5 lakh, is valid on the automaker's entire product line-up, including the Ford Figo, Ford Aspire, Ford Freestyle, Ford EcoSport and Ford Endeavour, and will be operational till December 6. Management will host a conference call and webcast on Wednesday August 5, at 8:30am Toronto time (ET) to discuss the Company's financial results. Moving on to our press release this morning. As expected, AISC increased due to the processing of lower grade stockpiles in the period. Adjusted Net Earnings is a Non-GAAP measure. Tonnes of ore mined decreased mainly due to the impact of higher rainfall and lower equipment productivity as mining focused on the fresh material zones. CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION. Both these amounts include the impact of the Karma stream, amounting to 10,000 ounces sold in H1-2020 and 10,938 in H1-2019, at 20% of spot prices. As such, Houndé’s performance was better than initially anticipated. Endeavour is also maintaining SEMAFO's production and AISC guidance on Mana and Boungou, and therefore expects the FY-2020 Pro Forma Group production to amount to 995—1,095koz in 2020 at an AISC of $865—915/oz. We just, as you know, awarded the feasibility study work to win consultants and there's starting out. 12/18: ENDEAVOUR SILVER: Dual Listed Endeavour Silver Agrees to Sell El Cubo Mine in M.. MT. SEMAFO cash amount excludes restricted cash related to the transaction. The AISC remained flat as lower sustaining capital spend offset higher unit mining, processing and G&A costs and increased royalties. The non-GAAP information should not be viewed as a substitute for, or superior to, other data prepared in accordance with GAAP. As initially guided, the proportion of fresh ore is expected to remain high for the remainder of the year as the pits become deeper whilst processed grades and recovery rates are expected to remain stable. SEMAFO classified sustaining capital expenditures which are required to maintain existing operations and capitalized stripping. The FY-2020 non-sustaining mine capital expenditure was mainly H1-2020 weighted, with only 35% of the remaining capital spend to be incurred in the second half of the year. By. November 6, 2020 by Clare Burnett. As such, production during the quarter was slightly impacted. Certain line items in the table above are NON-GAAP measures. Using this website is considered consent. In the wake of the smooth integration process, I wish the combined company and its people every success.". Endeavour expects stronger cash flow generation in the second half of the year due to higher production, lower non-sustaining spend, lower exploration spend, the benefit of higher gold prices and the expiry of its gold collar program (with a cap of $1,500/oz for half its production) at the end of June 2020. Again, high-level short answer yes. If we hit this throughput tonnage, we should be around that if not a little bit lower, if we can get to 1,200 tonnes per day. The current P/S ratio for Endeavour Silver as of September 10, 2020 is . Throughput steady, gold grades on plan. Table 6: Ity CIL Quarterly Performance Indicators, Table 7: Ity CIL Half Yearly Performance Indicators, Table 8: Houndé Quarterly Performance Indicators, Table 9: Houndé Half Yearly Performance Indicator, Table 10: Agbaou Quarterly Performance Indicators, Table 11: Agbaou Half Yearly Performance Indicators, Table 12: Karma Quarterly Performance Indicators, Table 13: Karma Half Yearly Performance Indicators, Table 12: Mana Quarterly Performance Indicators, Table 13: Mana Half Yearly Performance Indicators, Table 16: Boungou Quarterly Performance Indicators, Table 17: Boungou Half Yearly Performance Indicators, Amounts include expensed, sustaining, and non-sustaining exploration expenditures. Twitter. In H1-2020, $12.0 million was spent, comprised of nearly 85,000 meters drilled, with eight rigs active over the greater Ity area. At least 15,000 meters of drilling are planned for the remainder of 2020. Ore tonnes stacked increased due to the benefit of the recently completed conveyor and stacking system upgrades. 12/18: ENDEAVOUR SILVER BRIEF: Agrees to Sell El Cubo Mine in Guanajuato, Mexico to Va.. MT. It's nice to hear the whole team chiming in on an answer to singular question. Endeavour for CRM is a Microsoft Gold Partner for Cloud, CRM & ERP Business Applications focusing on Change Management, implementations, upgrades, development, data analytics, training, and support for Dynamics 365 CRM, on-premise Dynamics CRM, and integration to Dynamics 365 Business Central, Azure, Power Apps, and Office 365. Please note that you are now entering a website directly or indirectly maintained by a third party (the "External Site") and that you do so at your own risk. Do you think we can get below $100 per tonne figure? Sustaining and non-sustaining capital spends for FY-2020 remain unchanged compared to SEMAFO’s published guidance, and are expected to amount to approximately $70.0 million and $2.0 million, respectively (of which $28.8 million and $0.3 million were incurred in H1-2020, respectively). 12515542. Ford Endeavour 2.0-litre diesel video review. Further details by asset are provided in the above mine sections. First of all, I would like to welcome Don Gray to the group. Mining activity is expected to continue at the Kao North pit and GG1 throughout the remainder of the year. As detailed in the table below, the FY-2020 non-sustaining mine capital expenditure guidance for Endeavour's mines is expected to increase from $42 million (as per initial guidance) to $55 million. Q2-2020 production for Endeavour's assets amounted to 149Koz, a decrease over Q1-2020, due to a lower production at Ity and Karma. Well, the good news is that at these low prices, we are getting a lot of inbound inquiries about a sale. Production remained steady as increased tonnes milled offset the lower recovery rate while processed grades remained flat. I'll get back in queue. Endeavour Silver Corp. (NYSE:EXK)’s Major holders. George Town, August 5, 2020 – Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce its financial and operating results for the second quarter and half year 2020, with highlights provided in table 1 and 2 below. At Bolanitos, we'll look at whether or not we can bring some of the lower-grade resources into the mine plant, but that's probably the only impact. Thank you very much, Galena and again, welcome, everybody to this. Please click on the prices below to go directly to the corresponding product page in the store. Thank you very much. Should we assume similar grades to Q3, which are obviously very high? YoY sales are down -11%, as compared to 724 units sold in November last year. We are very pleased with the progress made to integrate the SEMAFO assets within our well-established West African operating model, which is now largely complete. We took a one-year break from drilling Parral, which is intended to follow Terronera in our development pipeline, but I think it's safe to assume that there will be aggressive drilling programs on both Terronera and Parral next year. Following the outbreak of COVID-19 pandemic, a large portion of the underground mining team was placed in a 14-day quarantine as a preventive measure. Sustaining capital spend for FY-2020 is expected to amount to approximately $9.0 million (of which $2.7 million has been incurred in H1-2020), a decrease compared to the initial FY-2020 guidance of $13.0 million due to less mining maintenance required following the transfer to contract mining. In early March 2020, Endeavour put in place a business continuity plan to mitigate the risks and potential impact of the global COVID-19 pandemic, which has three levels of response: Level 1, which the Group is currently operating under, involves a range of preventative measures including temperature checks, restricted access to sites, social distancing, increased hygiene standards and mandatory quarantine periods for employees arriving in-country, while otherwise continuing operations as normal. For example, through the first nine months of 2020, silver made up around 25% of Coeur's sales. The All-In Sustaining Margin for H1-2020 increased compared to the corresponding period of 2019 due to increased gold sales and increased realized gold price (described in Notes 1 and 2) which was partially offset by a higher cash costs, royalties and sustaining mining capital spend. It's our smallest mine. Net cash flow from operating activities for H1-2020 was $183 million, up $98 million compared to H1-2019. As shown in the table below, the Pro Forma FY-2020 exploration spend is expected to amount to $45-50 million, inclusive of the SEMAFO assets. Ford Endeavour 2020 Engine. M&A, restructuring and asset sale activities in Q2-2020 include an inflow $10 million related to the sale of mining equipment, in addition to $2 million received for associated spares, to the newly appointed contactor miner at Karma and a $7 million outflow associated to advisory fees for the SEMAFO transaction. We've got lots of work to do, but we're finally into the final feasibility process. The Group consolidated amounts will be based on production and AISC commencing July 1, 2020, for the SEMAFO acquired assets. Guanacevi, our largest mine, has by far the biggest impact on our financial performance. Just want to roll in to the caravan park, unhook your caravan and be ready to relax? Some of the indicators used by Endeavour in this press release represent non-IFRS financial measures. Continued strong safety record for the Group, with a low Lost Time Injury Frequency Rate (“LTIFR”) of 0.21 for the trailing 12 months. WhatsApp. Please go ahead. We hope it's going to come down in Q4. Operating Cash Flow Per Share is a Non-GAAP measure. Endeavour Mining Corporation (“EDV”) has no control over the External Site, any data or other content contained therein or any additional linked websites. Enquires E: info@endeavourlondon.co.uk. The integration planning process was launched with the SEMAFO team after the transaction announcement in March 2020 and implemented on transaction close. Net income or earnings came in at a positive $0.5 million compared to almost $7 million loss a year-ago. Inflow mainly related to the decrease in stockpiles, GIC and consumables at Ity and Houndé offset by an increase in GIC at Karma. I mean because that's─I don't want to say free money, but it's certainly good cash flow if you get paid back. In addition, a waste stripping campaign commenced at the Kao North pit. While the nominal amount for H2-2020 is higher than that of H1-2020, due to higher expected production, it is expected to remain similar on a per ounce basis. Twitter. We were affected by significant rainfall in the rain season in Q3. We've got, I. think, one of the best outlooks in the sector with leverage to cash flow, not only from higher metal prices but falling costs. Production in the quarter was just shy of a million ounces of silver and 10,000 ounces of gold for. Please go ahead. Karma is expected to achieve the bottom end of its full year 2020 production guidance range of 100,000 - 110,000 ounces and the middle of its AISC guidance range of $980 - $1,050 per ounce. All-in sustaining cost represents the total cash cost plus sustainable capital expenditures and stripping costs presented per ounce sold. The 2020 estimates are for Endeavour Silver Corp. earnings to decrease by -267.1%, but the outlook for the next 5-year period is at 0% per year. In addition, several other nearby targets have also been identified. Gold sales decreased by 25Koz in Q2-2020 compared to Q1-2020 as a result of lower production at the Ity, Karma and Agbaou mines. Any update there on timeline to making a construction decision? Staying with the analyst view, there is a consensus estimate of $174.28 Million for the company’s annual revenue in 2020. This concludes the question-and-answer session. The bad news is that it doesn't really change, the higher prices don't really change the amount of ounces in the ground. By clicking “Accept” you acknowledge and agree that neither EDV nor third party provider Virtua Research, Inc. (“Virtua) is responsible, or accepts or assumes any responsibility or liability whatsoever for, the content, the data or the technical operation of the Linked Site. During the quarter, 1,636 meters of development were completed at Siou compared to 2,053 meters during Q1-2020. Agbaou is expected to achieve the bottom half of its full year 2020 production guidance range of 115,000—125,000 ounces and the middle of its AISC guidance range of $940—$990 per ounce. Rights which we take for granted today were won through years of tireless endeavour by campaigners. Very good. I mean, ultimately our depreciation is high. Figures presented and disclosed relating to SEMAFO operations represent classifications and calculations performed using consistent historical SEMAFO methodologies. As described in the Outlook Section on page 21, Endeavour remains on track to achieve its Group production and AISC guidance, despite the COVID-19 pandemic, as it expects a higher grade profile in H2-2020. Maybe back into the $80 to $90 range? In 2018, Endeavour issued a $330 million convertible note, maturing in February 2023. Thank you, Operator. As of September, we've resumed drilling on a number of very interesting undrilled veins at Terronera to try and continue boosting the resources there. The other aspect is the El Curso concessions that we leased from Ocampo. The Net Debt / Adjusted EBITDA ratio for Endeavour improved slightly over the quarter, decreasing from 1.06 times to 1.00 times mainly due to a slightly higher LTM adjusted EBITDA. For a discussion regarding the company’s use of Non-GAAP Measures, please see "note regarding certain measures of performance" in the MD&A. Work with Endeavour Consulting marketing consultancy to take your tourism business to the next level. Last but not least, El Compas is pretty much on plan. Cash settlements on hedge programs in H1-2020 includes a $5 million fee for the gold collar program and $20 million for its associated settlements, and an inflow of $7 million related to short-term forward sales in Q1-2020. The collar expired at the end of June 2020 with the final payment on the collar due to early Q3-2020. « 2019 | 2020 | 2021 » See also. Increased mainly due to a $7 million increase in VAT receivables at Houndé and a $5 million short-term loan to the BCM Group. Since the outbreak of the global COVID-19 pandemic, Endeavour has focused on the well-being of its employees, contractors and local communities, while ensuring business continuity. Endeavour operates in close coordination with the national health authorities and is using the epidemiological surveillance system it developed to assist host countries (Cote d’Ivoire, Burkina Faso and Mali) with the monitoring and tracking of the pandemic in these countries. As such, Karma successfully transitioned from owner mining to contract mining on June 8, 2020. Sustaining capital decreased from $0.5 million to $0.2 million. The realized gold price for H1-2020 was $1,612/oz compared to $1,271/oz in H1-2019. We roughly make about 30% to 35% profit off that ore on a cash basis. The non-sustaining exploration capital spend for H1-2020 continued to remain high, in line with Endeavour’s strategic objective of unlocking exploration value through its aggressive drilling campaign. We pay a $12 processing fee per tonne on that material, and then we also pay a royalty cost on that material. The waiver and release specifically includes, without limitation, any and all rights and claims pertaining to the processing of personal data, including but not limited to any rights under any applicable data protection statute(s). Processed grades increased as the strong waste capitalization at Vindaloo Central during the previous quarter  provided access to high grade ore. The key upcoming expected catalysts are summarized in the table below. I'd also, especially, like to recognize Godfrey Walton who was with me when we went to Mexico in 2003, looking for an asset we can build a company around. We've had some office workers impacted by COVID. 29.99 - 35.10 Lakh *.It is available in 4 variants, a 1996 cc, BS6 and a single Automatic transmission. Production decreased as the mine plan prioritized both waste extraction and the TSF raise which resulted in a sub-optimal processed ore blend leading to short-term variances in mill throughput, recoveries and processed grade. Reimbursement of this facility has commenced and will continue during Q3-2020 and Q4-2020. Once these studies on Fetekro and Kalana are published, Endeavour will be better positioned to decide which project to prioritize and advance to Feasibility stage. Alright so the Endeavour Sport, it continues to get the 2.0-litre turbocharged diesel engine and this is the same engine which was introduced in the car earlier in the year, in Feb 2020. Endeavour assessed its ability to curtail its operations to selectively mine higher grade ore with low strip ratios should mining activity need to be reduced in response to an increase in COVID-19 prevention measures. Looking at the third-quarter, very nice performance across the board, but it's still a $110─over $110 per tonne. Ford is one of the two manufacturers to post positive sales growth in February 2020 as 7,019 units were sold. Thank you. Net cash used in investing activities during H1-2020 was $105 million, down $73 million compared to H1-2019, mainly due Ity CIL construction being completed in Q1-2019. The mine plan prioritized both waste extraction and the completion of the TSF raise in Q2-2020 which provides the Company with increased operational flexibility should the mine be forced to operate under a Level 2 or 3 Response Environment which would restrict the number of employees on site and reduce mining activity. The next question is from Chris Thompson with PI Financial. Despite the COVID-19 pandemic, Karma continued to operate at near-normal levels under the Level 1 Response Environment, as describe in COVID-19 Section, with no material changes to its mine plan required. Hey, just going to the financials here, I'm looking at the─your deferred income tax assets has gone from $7.14 million at the beginning of the year to $5.3 million today. 1, Table 33: Mine Capital Sustaining Expenditure Guidance, Table 34: Mine Capital Non-Sustaining Expenditure Guidance. Table 1: Endeavour Operational and Financial Highlights. November 2020 - Endeavour for CRM is a Top 2020 Microsoft CRM Consulting firm with a focus on Microsoft Dynamics 365 and Dynamics CRM for Sales, Customer Service and Member Management. Despite the COVID-19 pandemic, Agbaou continued to operate at near-normal levels under the Level 1 Response Environment, as describe in COVID-19 Section above, with no material changes to its mine plan required. Endeavour Sales Point. Our next question is from Joseph Reagor with ROTH Capital Partners. We're at a catalyst rich time for the Company, and we've come through that transition phase where we undertook, in the last six quarters, operational turnarounds to try and get out of the doldrums during the bare market, and we've succeeded. Hi, Heiko. I was wondering if you could give me some more clarity in terms of grades as how we should think about Q4 here, in particular, Guanacevi. 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