Page 40 - Bullion World Volume 04 Issue 07 July 2023

Bullion World | Volume 3 | Issue 7 | July 2023

Endeavour sells its by the State of Burkina Faso. For $1,250 – 1,350/oz. As a result, the

non-core Boungou the full year ended 31 December full year 2023 production guidance
for continuing operations has
2022, Boungou produced 116koz
and Wahgnion gold at an AISC of $1,064/oz, while for decreased from 1,325 – 1,425koz
mines in Burkina H1 2023 production is expected to to 1,060 – 1,135koz, while AISC
amount to approximately 33koz at an
guidance from continuing operations
Faso; updates 2023 AISC of above $1,500/oz. has improved by $45/oz to $895 –
guidance 950/oz.

Endeavour Mining, a senior global The Wahgnion mine was acquired “This asset sale is expected to be
by Endeavour in February 2021, as
gold producer, announced Thursday part of its acquisition of Teranga. more than offset by Endeavour’s
that it has closed the sale of its Endeavour owned a 90% stake in the ongoing construction activities as
90% interests in its Boungou and Wahgnion mine, with the remaining the Group’s production and AISC
Wahgnion non-core mines in Burkina 10% owned by the State of Burkina are expected to significantly improve
Faso to Lilium Mining. The company Faso. For the full year ended next year as the Sabodala-Massawa
said that the total consideration is 31 December 2022, Wahgnion brownfield expansion in Senegal,
expected to exceed $300 million and produced 124koz at an AISC of and the Lafigué greenfield project in
is comprised of upfront and deferred $1,525/oz, while for H1 2023 Côte d’Ivoire remain on track to be
cash considerations and net smelter production is expected to amount commissioned in Q2 2024 and Q3
return royalties (NSR).
to approximately 68koz at an AISC 2024, respectively,” the company
of above $1,500/oz. Following the said in a statement. Endeavour
Lilium Mining is a subsidiary of sale of the Boungou and Wahgnion Mining is one of the world’s senior
Lilium Capital, an African and mines, Endeavour has updated its gold producers and the largest in
frontier markets focused strategic 2023 full year production and all-in West Africa, with operating assets
investment vehicle led by West sustaining cost (AISC) guidance to across Senegal, Côte d’Ivoire and
African entrepreneurs. The Boungou account for the removal of guided Burkina Faso and a strong portfolio
mine was acquired by Endeavour in production from the Boungou mine of advanced development projects
July 2020, as part of its acquisition of 115 –125koz at an AISC of $985 and exploration assets in the highly
of SEMAFO. Endeavour owned a – 1,075/oz and from the Wahgnion prospective Birimian Greenstone
90% stake in the Boungou mine, mine of 150 – 165koz at an AISC of Belt across West Africa.
with the remaining 10% owned

Osisko increases Taseko have amended the silver partnership with Taseko. Our
silver stream on stream to increase Osisko’s effective shareholders will benefit from the
increased silver stream, coupled with
stream percentage by 12.5% to
Taseko's Gibraltar 87.5%. the approximately one-and-a-half
mine Further to this, Osisko and Taseko million additional ounces of silver to
be delivered to Osisko due to the
Osisko Gold Royalties (TSX: OR) have also extended the step-down extended threshold.”
(NYSE: OR) announced that it has silver delivery threshold to coincide
completed an amendment to its with Taseko’s recently updated Osisko Gold Royalties is an
75% silver stream with respect to mineral reserve estimate for intermediate precious metal royalty
the Gibraltar copper mine, located in Gibraltar. Osisko said it will provide company which holds a North
B.C., Canada, which is operated by total consideration of US$10.25 American focused portfolio of over
a wholly-owned subsidiary of Taseko million to Taseko plus C$50,000 180 royalties, streams and precious
Mines. On March 15th, 2023, per year for the following three metal offtakes. Osisko’s portfolio is
Taseko announced the completion years to help support ongoing ESG anchored by its cornerstone asset,
of its acquisition of an additional initiatives at Gibraltar. President and a 5% net smelter return royalty on
12.5% interest in Gibraltar from CEO Sandeep Singh commented, the Canadian Malartic mine, one of
Sojitz Corporation giving Taseko an “We are pleased to increase our Canada’s largest gold mines.
effective 87.5% interest. According silver exposure on the long-life
to a news release, Osisko and Gibraltar mine and enhance our

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