In the last four years, the miner has discovered 8.5-million ounces of indicated resources and this track record gives it the confidence to set the new target, says president and CEO Sebastien de Montessus.
“Our exploration strategy is centered on continuing to extend the mine lives of our core assets to well beyond ten years and discovering new greenfield projects.”
While Endeavour sees significant opportunities across its portfolio, it is particularly pleased with the potential defined at it flagship mines – Sabodala-Massawa, in Senegal, Hounde, in Burkina Faso, and Ity, in Cote d’Ivoire.
These mines, De Montessus says, have the potential to be Tier 1 assets with more than ten-million ounces resource endowment, inclusive of historical production.
“Setting these exploration targets demonstrates our commitment to both near-term and long-term growth and underpins our ability to be a resilient and reliable business. We believe that we offer a strong investment appeal due to the long-term visibility across our business, through our minimum progressive dividend outlook which is supported by a robust five-year production outlook, near-term growth prospects from existing projects, and our new five-year discovery horizon that provides the foundation for longer-term success.”