re: Ann: Endeavour Mining Updates Agbaou Gold...
Very nice announcement.
The operational out-performance is great to see, especially the gold recovery rate of 97% is unusually high.
Money coming in to be banked will settle down nervous nellies about their ability to repay debt. There is excellent FCF from Agbou.
Best of all recognition by investors on the TSX with a 10.8% gain (CAD9 cents) to CAD92 cents.
Hopefully we see at least 90 cents on our market by the end of the day. It went as high as CAD94 cents on the TSX.
My short term price target remains $1.00-1.10. By the end of the year at the current POG my target is around $1.40-1.50, on the assumption that they get their AISC down closer to USD1,000/ounce and still have around USD180m in net debt left. If net debt is a lot lower than my target price would be higher.
loki (yeah, I know the share price is a heck of a long way from the top - but it is also up over 100% from the bottom)
EVR Price at posting:
82.0¢ Sentiment: LT Buy Disclosure: Held
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