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.
Endeavour Mining to hand out US$435m in dividends via new policy
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) said it will pay out a minimum of US$435 million in dividends over the next two years and more if special payments and share buybacks are included. “For H1-2024 we have declared a $100 million dividend, which we have supplemented with an additional $20 million of share buybacks,” said Ian Cockerill, chief executive.
Endeavour Mining impresses broker with Lafigue progress
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) has had a 'buy' rating reiterated by broker Stifel after the first gold pour at its new Lafigué mine in Côte d'Ivoire The project is the company's fifth successful build in West Africa over the last decade, reaching production on budget and ahead of schedule, just 21 months after the construction launch, noted the broker The mine is expected to produce 90-110,00 oz of gold at all-in sustaining costs of $900-975/oz this year and increase output to approximately 200,000 oz next year, Assafou on the Tanda-Iguela property in Côte d'Ivoire was identified as the next phase of organic growth.
Endeavour Mining pours first gold from Lafigue in Ivory Coast
Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF) has poured its first gold from the Lafigué mine in the Ivory Coast just 21 months after starting construction. Ian Cockerill, chief executive, commented that it was a proud moment for the miner.
EDV: The U.S. Economy Seems To Weaken - Reiterating Buy
The EDV ETF showed negative returns since my last article about the ETF. Nonetheless, I reiterate my Buy rating. It may take some time for a long-duration bond trade to fully unveil, so investors should stay patient.
