Construction Under Way at Houndé Gold Project

Endeavour Mining started construction of its 90% owned Houndé gold project in western Burkina Faso on April 11, the same day that True Gold Mining’s Karma mine poured its first gold in north-central Burkina Faso. Endeavour acquired True Gold in a transaction that was approved at special meetings of the companies’ shareholders on April 21 and that closed on April 26. Acquisition of Karma adds 110,000 to 120,000 oz/y to Endeavour gold production over a projected mine life of 8.5 years based on current reserves.

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Ivanhoe Reports Positive PFS for Kamoa Copper

Ivanhoe Mines has reported positive findings from an independent prefeasibility study (PFS) for the first phase of development of the Kamoa copper project in the Democratic Republic of Congo (DRC). The project is a joint venture between Ivanhoe and Zijin Mining Group.

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Endeavour Acquiring True Gold

Endeavour Mining has agreed to acquire True Gold Mining in a friendly, all-share transaction that values True Gold at about C$226 million. Endeavour is listed on the Toronto Stock Exchange and operates four gold mines in West Africa, one each in Cote d’Ivoire, Mali, Burkina Faso and Ghana. True Gold has a 90% interest in the Karma gold mine in Burkina Faso, which was nearing production startup as of late March.

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