The Houndé mine is one of Endeavour’s cornerstone assets, where the goal is to sustain production above 250koz/year over a +10-year life of mine at an industry-leading AISC.

Key stats

312 koz

2023 Production

$943/oz

2023 AISC1

260 koz – 290 koz

2024 Production guidance

$1,000/oz – $1,100/oz

2024 AISC1 guidance

1. This is an alternative performance measure (non-GAAP measure). Please refer to the Alternative Performance Measures sections in the Annual Report 2023 Financial Review for definitions and reconciliations of alternative performance measures to IFRS.

Houndé mine

The mine was built by Endeavour on time, on budget and with no lost time injuries with commercial production commencing in Q4-2017.

At the Houndé mine, Endeavour is focused on continuing to delineate additional high-grade resources through near-mine exploration to not only sustain production but to extend the mine life as well.  

Houndé mine

Key facts

Ownership

90% Endeavour, 10% Government of Burkina Faso

Mining method

Open pittable

Production start date

2017

Processing Technology

CIL Plant

Expected mine life

+12 years

Workforce

Approximately 1,860

Location

Portfolio map
Ity mine
Houndé mine
Mana mine
Sabodala-Massawa mine
Lafigué mine
Tanda Iguela project
Kalana project
Houndé exploration
Ity exploration
Mana exploration
Sabodala-Massawa exploration
Lafigué exploration
Siguiri exploration
Regional office
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Côte d'Ivoire
Ity mine
The Ity mine is one of Endeavour’s cornerstone assets, where the goal is to sustain production above 250koz/year over a +10-year life of mine at an industry-leading AISC.
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Burkina Faso
Houndé mine
The Houndé mine is located in the northern part of the highly prospective Houndé Greenstone Belt, approximately 60km south of the Mana mine.
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Burkina Faso
Mana mine
The focus at Mana is to increase the mine life to more than 10 years, through the expansion of the underground deposits and evaluating local open pit targets.
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Senegal
Sabodala-Massawa mine
The Sabodala-Massawa mine is one of Endeavour’s cornerstone assets and recently underwent an expansion which will elevate it to top-tier status with a targeted production of above 400koz/year at an industry leading AISC.
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Côte d'Ivoire
Lafigué mine
The Lafigué mine poured first gold at the end of Q2 2024 and is Endeavour’s newest cornerstone mine. The goal at Lafigué is to produce over 200koz per year at an industry leading all-in sustaining cost of approximately $900/oz for at least 13 years.
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Côte d'Ivoire
Tanda Iguela project
At the Tanda-Iguela greenfield property Endeavour has delineated a 4.5Moz Indicated resource at 2 g/t Au for the Assafou deposit, demonstrating its Tier 1 asset potential and ranking as one of the most significant discoveries made in West Africa over the last decade.
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Mali
Kalana project
The Kalana project, acquired in 2017, is located approximately 250 km south of Bamako, the capital city of Mali. A positive pre-feasibility study (“PFS”) was published in February 2021.
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Burkina Faso
Houndé exploration
The Houndé Mine looks to meet the target of discovering 3.0 to 4.0 million ounces of Indicated resources over the next five years at a discovery cost of less than $19/oz.
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Côte d'Ivoire
Ity exploration
Endeavour has established a five year discovery target of 3.5 – 4.5 million ounces of Indicated resources at a discovery cost of less than $17/oz at Ity.
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Burkina Faso
Mana exploration
The primary objective is to increase the mine life to 10 years, and Endeavour sees considerable additional opportunity remaining with the five year discovery target for Mana now set for 1.0 to 1.5 million ounces of Indicated resources at a discovery cost of less than US$30/oz.
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Senegal
Sabodala-Massawa exploration
Endeavour has established a target to discover between 2.3 and 2.7 million ounces of Indicated resources at a discovery cost of less than $26/oz over the next five years.
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Côte d'Ivoire
Lafigué exploration
Lafigué is a greenfield discovery where over 3Moz of M&I resources have been discovered since Endeavour commenced drilling on the asset in 2018. Given the strong exploration potential, Endeavour is targeting the discovery of 1.2 – 1.8Moz of Indicated resources over the 2021 and 2025 period.
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Guinea
Siguiri exploration
The Siguiri exploration licenses are located in northwest Guinea, located next door to AngloGold’s Siguiri Mine.
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Côte d'Ivoire
Regional office
Our regional hub for the company is located in the port city of Abidjan. Route du Lycée Technique, Abidjan, Côte d'Ivoire, 08 BP 872

Timeline

2012

Endeavour purchased Avion (Tabakoto and Houndé)

2013

Feasibility Study published

2015

Endeavour received mining permit for the Houndé Project

2016

Construction began in April

2016

Groundbreaking ceremony

2017

First gold pour in October

2020

Mining commenced at Kari pump deposit

2021

Mining commenced at Kari West

Exploration potential

Exploration targets Houndé

Located within the highly prospective Houndé Gold Belt (a +20 million ounce endowment along a 200 km corridor and host to the Mana Mine and Bantou Project), the Houndé Mine looks to meet the target of discovering 3.0 to 4.0 million ounces of Indicated resources over the next five years at a discovery cost of less than $19/oz. This would place Houndé as a standalone +10 million ounce deposit with anticipated production above 250,000 oz/year.

Houndé exploration next targets

Focused on maintaining +10 year mine life exploration, efforts are centred on Vindaloo South, Mambo and the intersection between Kari Gap and Kari Center. Endeavour is excited by the drill results at the Mambo target which have defined a significant discovery. In the near term, Endeavour continues to drill out higher grade targets such as Sia Sianikoui and Dohoum. Endeavour is examining the potential mining of Golden Hill, an advanced stage exploration project as a satellite deposit and trucking material 25 km to the Houndé plant.

Operational data FY-17 FY-18 FY-19 FY-20 FY-21 FY-22 FY-23
Mining
Waste - open pit (kt) 14,827 35,659 35,225 38,171 45,420 39,736 42,260
Ore mined - open pit (kt) 1,222 5,822 2,969 5,324 4,397 5,754 5,420
Processing
Ore processed (kt) 813 3,948 4,144 4,228 4,622 5,043 5,549
Grade (g/t) 2.75 2.29 1.83 2.21 2.13 1.92 1.92
Recovery (%) 95 94 93 93 92 93 91
Production (oz) 68,754 277,218 223,304 276,709 293,155 294,993 311,876
Cash cost details
Cash cost per ounce sold (US$/oz) 194 459 666 703 675 701 835
All-in sustaining costs (US$/oz) 335 564 862 837 843 809 943

Operating performance 

Key metrics FY-17 FY-18 FY-19 FY-20 FY-21 FY-22 FY-23
Safety and health
Fatalities 0 0 0 0 0 0 0
Lost Time Injuries 0 0 0 0 1 0 0
Energy
Energy consumption (GJ) 587,563 1,319,195 1,362,398 1,615,355 1,825,431 1,722,770 1,879,252
Energy intensity (GJ/oz of production) 8.6 4.8 6.1 5.8 6.2 5.9 6.0
Emissions
GHG emissions (tCO2e) 42,128 116,295 105,005 88,132 108,034 101,862 251,779
GHG emissions intensity (tCO2e/oz of production) 1.0 0.4 0.5 0.5 0.6 0.6 0.8
Water
Water withdrawal (ML) 1,167 4,199 2,307 2,215 2,785 3,406 2,776
Water withdrawal Intensity (ML/oz of production) 0 0.02 0.01 0.01 0.01 0.01 0.01
Water consumption (ML) 1 6,171 2,307 2,215 2,785 3,406 5,261

ESG performance

Our approach (to ESG)

Presentations and technical reports

Title Document
2022 Houndé Site Visit View
2019 Houndé Technical Report View
2013 Houndé Technical Report View
Title Document
2022 Houndé Site Visit View
2019 Houndé Technical Report View
2013 Houndé Technical Report View
On a 100% basis. Resources shown inclusive of reserves Tonnage
(Mt)
Grade
(Au g/t)
Content
(Au koz)
Proven reserves 2.5 1.15 91
Probable reserves 49.6 1.59 2,542
P&P reserves 52.1 1.57 2,633
Measured resource (incl of reserves) 2.5 1.16 92
Indicated resources (incl of reserves) 70.6 1.64 3,730
M&I resources (incl of reserves) 73.1 1.63 3,821
Inferred resources 11.9 1.73 662

Current at December 31, 2023

Reserves and resources