Endeavour Mining adds 6% as Assafou study justifies 'ballyhoo'
Endeavour Mining PLC's (LSE:EDV, TSX:EDV, OTCQX:EDVMF) pre-feasibility study for Assafou has justified some of the ballyhoo surrounding the Ivory Coast gold project, according to Stifel. Results from the PFS come less than three years following the project's discovery in late- 2021 and were broadly in line with expectations for a “larger Lafigué”, said the US broker.
Endeavour Mining moves to next stage at Assafou after 'excellent' initial study
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF)said a preliminary study at Assafou in the Ivory Coast has confirmed the potential for it o become a major gold producer for the FTSE 100 group. Results from the pre-feasibility study indicated possible production of 329,000 oz a year at sustaining costs of US$892 an ounce over the first 10 years with a total estimated mine life of fifteen years.
EDV: Long Term Interest Rates Should Continue Higher
Long-term interest rates are expected to rise further, leading to a continued decline in bond funds and ETFs like EDV. We set a price target of $64 for EDV, anticipating long-term treasury bond rates to reach approximately 4.75% by February. Our forecast is based on extreme bullish sentiment among bond market newsletter writers, which historically signals a bearish outlook for bonds.
Endeavour Mining says it has support of Burkina Faso government
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) has responded to reports from a radio interview with Ibrahim Traoré, the President of Burkina Faso, in which he referred to mining permits that might be revoked. In a statement, Endeavour said that it remains a trusted partner to the Government of Burkina Faso and can confirm that it is not currently aware of any plans to revoke any of its mining permits.
EDV: Another Great Opportunity To Buy
Despite a 50 bp Fed rate cut, long-duration US Treasury yields rose as investors kept calibrating their expectations from the Fed and the US economy. EDV ETF remains a solid recession hedge that benefits from rate cuts. Even though we observe heightened market volatility, I maintain my "Buy" rating for the EDV ETF.
Endeavour rallies over 10% as gold prices surge to record high
FTSE 100-listed miner Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) shot up over 10% on Friday after gold prices reached a record high. At 1,826p per share, the big-cap miner is a breath away from year-to-date highs of 1,853.
Endeavour Mining eyes new cash generation phase as two projects enter commercial production
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) told investors it has now entered commercial production at both the Sabodala-Massawa BIOX Expansion in Senegal and the Lafigué mine in Côte d'Ivoire. The projects, which were completed on budget and on schedule, represent key milestones in the company's growth strategy.
Endeavour Mining gains as gold climbs before US job figures
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) headed the FTSE 100's risers on Friday as gold ticked up ahead of US job data later in the day. Shares in the gold-focussed miner climbed 1.9% early on as prices of the yellow metal remained elevated at US$2520 per ounce, having risen 0.2%, ahead of the non-farm payroll figures.
ETFs Soaring on Treasuries' Longest Winning Streak in 3 Years
Treasuries are poised for their longest monthly winning streak in three years on September rate cut bets.
Endeavour Mining to receive US$60 million in Lilium Gold settlement
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) and Lilium Gold have agreed a settlement agreement brokered by the government of Burkina Faso for the divestment of the Boungou and Wahgnion mines. The deal will see Lilium transfer the ownership of the Boungou and Wahgnion mines to the Burkina Faso State with Endeavour to receive US$60 million cash in the three tranches made up of US$15 million upfront, US$15 million by the end of the third quarter and US$30 million by the end of 2024.
Treasury ETFs Gaining on Slowdown Concerns, Rate Cut Bets
The recent equity rout has led investors to seek refuge in Treasury securities, perceived as safe-haven assets.
EDV: A Bumpy Road Ahead
The EDV rallied in the last few weeks amid growing fears over the US economy outlook. I expect that the US economy may continue to slow down in the upcoming months, but I don't anticipate an immediate recession. I stay bullish on the EDV ETF, though it's better for investors to buy on pullbacks before we have more economic data on hand for a clear picture.
