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

    In 2019, a $2 million reconnaissance drilling campaign comprising approximately 20,500 meters, was conducted on targets located in proximity to the Kalana Main deposit with results currently being analyzed. In 2020, an exploration budget of up to $2 million has been planned to follow-up on nearby targets once the 2019 drill results have been analyzed.

    The Avnel FS is being updated to incorporate the updated resource for the Kalana Main deposit and the new Kalanako deposit (as published in March 2019), in addition to reviewing the size of the plant and all other assumptions. This is expected to be published in H2-2020.