The Assafou mine in Côte d’Ivoire is expected to deliver 300,000 ounces per year at a cost of $1,100 per ounce when it enters production in 2028.
Berenberg has reiterated its “buy” recommendation on Endeavour Mining PLC (LSE:EDV, TSX:EDV, OTCQX:EDVMF), setting a price target of 3,300p.
That’s a near 45% premium to Monday’s trading price of 2,282p, on the view that the West African gold producer’s best days lie ahead.
In a note published last week, analysts described Endeavour as a “high-quality gold business” that is entering a period of strong free cash flow and shareholder returns following the completion of major capital projects in Côte d’Ivoire and Senegal.
The next potential catalyst is expected with the group’s second-quarter results on 31 July, for which Berenberg’s forecasts sit about 16% above consensus.
Despite a share price rally of around 60% since the start of the year,…
