Effectively executing our strategy ensures we can deliver value for all our stakeholders.
Our mission
By effectively managing our high-quality portfolio across the lifecycle, we aim to build a resilient business and work as a trusted partner with the ability to reward shareholders.
Our strategy
Our strategy is to build a resilient business and work as a trusted partner with the ability to reward shareholders.
+1.2oz
Annual production
~$1,435/oz
AISC1,2
Diversification
Across multiple countries and mines
+10yrs
Production visibility
Strong
Capital allocation discipline
Our resilient business model is centred on a high-quality portfolio which has the potential to generate sufficient cash flow to re-invest in the business and reward shareholders.
We achieve this by focussing on the following key areas:
- Maintain a high-quality portfolio
- Work as a trusted partner
- Reward shareholders
94%
National employees
11%
Women
81%
procurement sourced in our host countries
11%
Increase in economic contribution
$2.3b
economic contribution to host countries
Building strong relationships based on open and transparent dialogue with our local and national stakeholders is essential to obtaining broad-based support for our operations.
We achieve this by focussing on the following key areas:
- Employment and training
- Local procurement and economic development
- Environmental stewardship
- Transparent taxes and government ownership
$360/oz
Produced returns to shareholders for 20252
3.5%
Indicative shareholder returns yield
$85m
In share buybacks for 2025
$350m
Dividend total for 2025
+$1.6bn
Cumulative shareholder returns since 2021
We know the importance of engaging with our shareholders and seek to give them a strong return on their investment.
We achieve this by focussing on the following key areas:
- Ability to reward shareholders across cycles
- Prudent balance sheet management
- Competition for capital on a returns basis
- Compelling shareholder returns proposition
- 1. FY-2025 numbers are preliminary and reflect Endeavour's expected results as at the date of this press release.
- This is an alternative performance measure (non-GAAP measure). Please refer to the Alternative Performance Measures sections in our Annual Reports Financial Reviews for definitions and reconciliations of alternative performance measures to IFRS.
- Based on share price as of 29 January 2025
We have a strong track record of discovering ounces through our exploration programmes due to our unique approach and our ability to leverage our resources in the region. We have access to equipment and technical expertise across our portfolio that can be used to accelerate discoveries, resource definition and resource to reserve conversion in a short time period. We also own one of the largest exploration land packages in West Africa and our approach to exploration is focused on finding, delineating and realising high-margin ounces to improve the outlook for both our company and the communities in which we operate. We have discovered over 20.7 million ounces of Measured and Indicated resources since 2016 for a cost of less than $25 per ounce. We are now targeting the discovery of 12-15Moz of mineral resources at a discovery cost of $40 per ounce over the 2026-2030 period.
We have an attractive project pipeline comprised of five advanced development projects, that have been screened through our rigorous screening process to ensure they can achieve a +20% rate of return. The positive prefeasibility study ("PFS") was published in December 2024 with a definitive feasibility study ("DFS") expected in Q1 2026. Other important parts of this stage are the environmental and social studies which are key building blocks to ensure our license to operate.
Over the past ten years, we have successfully built five mines and projects on budget, on schedule and in under two years. This consistent success is largely attributed to our in-house expertise in project development and our long-term EPCM and technology partners.
We are committed to delivering our operational objectives and we do so by understanding the environment where we operate and by leveraging the deep technical expertise of our team. Our de-centralised operating model enables us to share skills, best practice and technical know-how across our assets enabling us to develop and operate efficiently and sustainably. As a result, we have a safety record that is superior to industry benchmarks, we have met or exceeded production guidance for the last eleven years.
1.5Moz
Annual production objective
Once a mining operation is no longer economically viable, because the ore body is exhausted or the remaining deposit becomes uneconomic to mine, work then focuses on its decommissioning and dismantling and a closure plan is implemented, which includes rehabilitating the land. We have closure plans in place at all our operations, which are designed as part of the Environmental and Social Impact Assessment that is done at the develop and design phase. These are regularly reviewed and updated during the lifetime of the operation, and rehabilitation initiatives are underway through the life of the mine. In addition, we also make financial provisions to a fund to cover the costs of implementing an environmental preservation and rehabilitation programme.
Business model
Exploration
We have a strong track record of discovering ounces through our exploration programmes due to our unique approach and our ability to leverage our resources in the region. We have access to equipment and technical expertise across our portfolio that can be used to accelerate discoveries, resource definition and resource to reserve conversion in a short time period. We also own one of the largest exploration land packages in West Africa and our approach to exploration is focused on finding, delineating and realising high-margin ounces to improve the outlook for both our company and the communities in which we operate. We have discovered over 20.7 million ounces of Measured and Indicated resources since 2016 for a cost of less than $25 per ounce. We are now targeting the discovery of 12-15Moz of mineral resources at a discovery cost of $40 per ounce over the 2026-2030 period.
Design and Develop
We have an attractive project pipeline comprised of five advanced development projects, that have been screened through our rigorous screening process to ensure they can achieve a +20% rate of return. The positive prefeasibility study ("PFS") was published in December 2024 with a definitive feasibility study ("DFS") expected in Q1 2026. Other important parts of this stage are the environmental and social studies which are key building blocks to ensure our license to operate.
Construction
Over the past ten years, we have successfully built five mines and projects on budget, on schedule and in under two years. This consistent success is largely attributed to our in-house expertise in project development and our long-term EPCM and technology partners.
Production
We are committed to delivering our operational objectives and we do so by understanding the environment where we operate and by leveraging the deep technical expertise of our team. Our de-centralised operating model enables us to share skills, best practice and technical know-how across our assets enabling us to develop and operate efficiently and sustainably. As a result, we have a safety record that is superior to industry benchmarks, we have met or exceeded production guidance for the last eleven years.
1.5Moz
Annual production objective
Closure and rehabilitation
Once a mining operation is no longer economically viable, because the ore body is exhausted or the remaining deposit becomes uneconomic to mine, work then focuses on its decommissioning and dismantling and a closure plan is implemented, which includes rehabilitating the land. We have closure plans in place at all our operations, which are designed as part of the Environmental and Social Impact Assessment that is done at the develop and design phase. These are regularly reviewed and updated during the lifetime of the operation, and rehabilitation initiatives are underway through the life of the mine. In addition, we also make financial provisions to a fund to cover the costs of implementing an environmental preservation and rehabilitation programme.