Endeavour Mining Corporation announced earnings and production results for the first quarter ended March 31, 2013. For the quarter, the company reported net earnings attributable to shareholders of the company of $15.1 million, adjusted net earnings after tax of $9.0 million, adjusted basic net earnings per share of $0.02. The company invested $55.6 million in new mine construction, development and exploration. Negative free cash flow was $16.6 million after all operating and development activities. Corporate EBITDA was $42.8 million. For the quarter, the company reported gold production of 73,654 ounces. Gold sold was 71,926 ounces for a mine cash margin of $46 million (equivalent to 28,400 ounces of gold). For the quarter, the company reported write-down of gold bullion of $2.1 million and write-down of investment in associate of $0.9 million. Fir the year 2013, the company revises its corporate EBITDA of $155 million against its previous guidance of $198 million. The 2013 full year exploration budget was reduced from $20 million to $15 million. The budget maintains $11 million at Tabakoto and Kofi, with planned underground exploration drilling untouched.

Endeavour Mining Corporation, Q1 2013 Earnings Call, May 15, 2013

Endeavour Mining Corporation, Q1 2013 Earnings Call, May 16, 2013