Intermediate gold producer present in Mali, Cote d’Ivoire, Ghana and Burkina Faso, Endeavour Mining, raised C$144 million (US$110,706,213) after announcing it has closed a bought-deal financing. The firm has issued a total of 7.18 million ordinary shares, at C$20 per share, including an over-allotment option awarded to underwriters led by BMO Capital Markets.

Proceeds will be used to accelerate the firm’s internal potential, by significantly expanding ongoing exploration programmes, to tap into West African exploration portfolio. Part will also serve to potentially develop Ity’s CIL plant (Cote d’Ivoire) and more general purposes.

Moreover, last Monday, the firm reported that a deadly accident occurred at the Tabakoto mine, in Mali. An employee fell while working in the underground mine Friday, and later died in a hospital in Bamaka, Saturday night. Endeavour also said Malian authorities have been informed and an investigation was initiated. The firm assured its full cooperation and highlighted that it would also conduct its own investigation to find the cause of the accident.

The TSX-listed firm plans to produce this year between 575,000 and 600,000 oz of gold at $870-$920 per oz.

Louis-Nino Kansoun