Endeavour Mining Reports Robust Q3 as Cash Flow Strengthens to $680 Million

Endeavour Mining has delivered an impressive third quarter performance, reinforcing its trajectory toward achieving the upper end of its 2025 operational guidance. Strong production levels, steady site performance and supportive gold prices helped drive year to date free cash flow to 680 million dollars, a significant indicator of the company’s strengthened financial position. This momentum reflects a disciplined operational strategy that continues to prioritise efficiency, margin protection and sustainable value creation across Endeavour’s West African gold portfolio.

For the year to date period, Endeavour produced 911,000 ounces of gold at an all in sustaining cost of 1,362 dollars per ounce, maintaining solid cost control even as inflationary pressures persist across the mining sector. Third quarter production reached 264,000 ounces, accompanied by a quarterly AISC of 1,569 dollars per ounce, consistent with planned mine sequencing. Financial results were equally robust, with adjusted EBITDA reaching 1.63 billion dollars, more than double the same period in 2024, and adjusted net earnings rising to 556 million dollars, or 2.29 dollars per share. These results underscore the company’s ability to convert operational performance into strong earnings and cash generation.

Endeavour has also taken decisive steps to reinforce its balance sheet, fully repaying its revolving credit facility and reducing gross debt by 425 million dollars. This has lowered the net debt to adjusted EBITDA ratio to just 0.21 times, giving the company increased flexibility to pursue growth while maintaining disciplined capital allocation. Shareholder returns have been a key priority, with 233 million dollars distributed so far, including a record 150 million dollar dividend and 83 million dollars in share buybacks. Meanwhile, exploration spending has reached 72 million dollars, targeting resource additions at Sabodala Massawa, Houndé, Ity and Assafou, all of which are central to Endeavour’s long term organic growth strategy. Project development also advanced, with the Assafou project securing its environmental permit and its definitive feasibility study progressing toward an expected completion in Q1 2026.

As Endeavour continues to build on its operational consistency and financial strength, the company is positioning itself for sustained value delivery across West Africa’s gold sector. Rising earnings, expanding exploration footprints and strong free cash flow generation are likely to bolster future investment, improve regional mining stability and support broader economic participation in host countries.

Mini Glossary

• AISC: All in sustaining cost, a comprehensive measure of the total cost of producing an ounce of gold.
• EBITDA: Earnings before interest, taxes, depreciation and amortisation, used to assess operational profitability.
• Revolving credit facility: A flexible loan that a company can draw from as needed and repay repeatedly.
• Net debt to EBITDA ratio: A metric used to assess a company’s leverage and financial health.