Kalana Project

Kalana is a high-quality project with current reserves of 2.0 million ounces within a single open pit. The present feasibility study, prepared by Avnel, anticipates a 1.2Mtpa CIL plant, producing an average of 101koz per year at an AISC of $730/oz over an 18-year mine life. Endeavour expects to take advantage of its construction expertise, operating synergies and exploration experience to re-design and optimize the current feasibility study. With an expanded plant capacity, Endeavour believes that Kalana has the potential to increase its annual production profile to more than 150,000 ounces per year and become another high-quality asset within Endeavour’s portfolio.



    • 80% EDV, 20% government of Mali


    • 270 km South of Bamako, the capital city of Mali

    Project Attributes

    • Mining Method: Open Pit
    • Processing: 1.2Mtpa
    • Expected Mine Life: 18 years
    • Upfront Capital: US$196m
    • After-Tax Project NPV (5%): $321m @ $1,200/oz gold price
    • After-Tax Project IRR: 50% @ $1,200/oz gold price

    Key Data

    LOMP Summary

    Total ore processed, Mt 22
    Gold Grade (g/t) 2.80
    Contained gold, koz 1,964
    Recovery rate, % 93%
    Production, koz 1,821
    Mine life, years 18
    Average annual gold production, koz 101
    Cash costs, $/oz 592
    AISC, $/oz 730
    After-tax Project NPV 5%, $m 321
    After-tax Project IRR, % 50%
    Payback, years 1.1

    Technical Reports

    Download year list
    Date Download Description

    Reserves and Resources

    On a 100% basis. Resources shown inclusive of Reserves. Tonnage
    (Au g/t)
    (Au koz)
    Proven Reserves 5.1 3.00 492
    Probable Reserves 16.6 2.76 1,472
    P&P Reserves 21.7 2.81 1,964
    Measured Resource 9.5 4.19 1,280
    Indicated Resources 16.33.74 1,964
    M&I Resources 25.8 3.92 3,254
    Inferred Resources 1.9 4.41 265



    Kalana Licence

    Exploration Potential

    An exploration programme of up to $4 million totaling approximately 23,000 metres is planned for 2019, with the aim of testing nearby targets and initiating work on the Fougadian licence. 
    The Updated 2019 Mineral Resource will be used as a basis for an updated feasibility study which is expected to be prepared for Q4-2019. 
    In parallel to working on the Kalana Feasibility Study and further testing of exploration potential, Endeavour intends to review its other available internal growth opportunities.  Based on Endeavour's capital allocation strategy, the Kalana project investment case will be reviewed against its other internal growth opportunities and uses of capital.