Endeavour Reports Strong Q3-2025 Results

Core Insights - Endeavour Mining plc reported strong operational and financial results for Q3-2025 and year-to-date (YTD) 2025, with production and free cash flow significantly exceeding previous periods [4][10][12] Operational Highlights - YTD-2025 gold production reached 911,000 ounces (koz), a 23% increase from 741koz in YTD-2024, with Q3-2025 production at 264koz [5][6][26] - The all-in sustaining cost (AISC) for YTD-2025 was $1,362 per ounce, with Q3-2025 AISC at $1,569 per ounce, impacted by higher royalty costs due to increased gold prices [6][33][34] - The company is on track to achieve the top half of its production guidance of 1,110 - 1,260koz for FY-2025 [36] Financial Performance - Adjusted EBITDA for YTD-2025 was $1,634 million, up 110% from YTD-2024, with Q3-2025 adjusted EBITDA at $466 million [6][7] - Free cash flow for YTD-2025 was $680 million, a staggering increase of 1,411% compared to YTD-2024, with Q3-2025 free cash flow at $166 million [6][7][10] - The company reduced gross debt by $425 million to $678 million, achieving a net debt to adjusted EBITDA ratio of 0.21x, significantly below the target of 0.50x [6][11] Shareholder Returns - A record dividend of $150 million (approximately $0.62 per share) was paid on October 23, 2025, with total shareholder returns for YTD-2025 reaching $233 million, exceeding the minimum commitment of $225 million [12][18] - The company has returned over $1.4 billion to shareholders since Q1-2021, reflecting a strong commitment to shareholder returns [12][18] Project Development and Exploration - The Assafou project is progressing on schedule, with the Definitive Feasibility Study (DFS) expected to be completed in Q1-2026 [13][14] - Exploration efforts have been robust, with $72 million spent YTD-2025, focusing on near-mine resource expansions and new opportunities in West Africa [6][14][45] Outlook - The company anticipates improved production and costs in Q4-2025, positioning it to meet FY-2025 AISC guidance [36][40] - A new exploration strategy is expected to be announced in Q4-2025, aimed at extending mine life and driving organic growth [14][15]