In the wake of an excellent set of third quarter results, we have increased our production forecasts for Houndé and Sabodala-Massawa for Q421 by 7.3% and 4.9% respectively, with the result that we expect Endeavour to meet almost exactly the top of its guidance range of 1,350-1,475koz gold for the full year at all-in sustaining costs (AISC) within its guided range of US$850-900/oz (see Exhibit 2). In the meantime, Q321 results were materially ahead of our expectations on virtually every measure of performance (despite Q3 normally being the quarter most affected by west Africa's seasonal rains) with the result that adjusted net EPS outperformed our prior forecast by 65.4% (see analysis on pages 5-8). As a result, we have upgraded our estimate of adjusted net EPS for Q421 by 10.3% and for FY21 by 13.9% on a pro forma basis and by 14.8% on an 'as reported' basis (see Exhibit 4).Den vollständigen Artikel lesen ...
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