Endeavour Mining says production hits top end of estimates

Endeavour Mining said it gold production had hit the top end of estimates and also announced the appointment of its new financial officer.

The gold miner said annual gold production fell 2.5% to 1.40 million ounces, down, slightly ahead of consensus and at the top end of its own 1.32-1.40 million ounce target.

Endeavour closed out 2022 with $121m in net cash, up $119m quarter on quarter. The company announced a dividend of $100m for the second half for a total payout of $200m.

In addition to the production numbers, Endeavour said chief financial officer Joanna Pearson would be stepping down in March and be replaced by Guy Young, currently in the same post for Vesuvius.