Endeavour Mining has reported first-quarter 2026 (Q1 2026) gold production of 282,000oz, down from 341,000oz a year earlier, at an all-in sustaining cost of $1,834/oz.
Gold sales in Q1 2026 fell from 353,000oz in the same quarter a year earlier to 278,000oz.
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Endeavour reported an average realised price of $4,810/oz in the three months ended 31 March 2026, up from $2,783 in Q1 2025.
Company earnings before interest, tax, depreciation and amortisation (EBITDA) stood at $872m in Q1 2026, up from $540m in the same quarter the previous year.
Adjusted EBITDA increased from $613m in Q1 2025 to $880m in Q1 2026.
Adjusted net earnings attributable to shareholders climbed from $219m to $370m, while earnings per share rose from $0.90 to $1.53.
Endeavour also generated free cash flow of $613m, equivalent to $2,176/oz produced, a 29% rise compared to Q4 2025.
The company ended Q1 2026 with net cash of $405m and had balance sheet liquidity of $1.7bn to support the Assafou development project and increased shareholder returns.
Endeavour said a definitive feasibility study at the Assafou project described a potential cornerstone asset with production of 320,000oz per annum at an all-in sustaining cost of $1,026/oz for the first eight years of a 16-year mine life.
The company has started early works and expects to target a final investment decision before the end of 2026, followed by 24–30 months of construction.
Endeavour Mining CEO Ian Cockerill said: “We delivered a strong start to 2026, building on last year’s momentum with another solid quarter of operational performance and record financial results.
“We remain on track to achieve full-year guidance, with performance weighted towards the second half of the year, reflecting the mining sequence at our Houndé, Mana and Ity mines.
“With a high-quality portfolio and a strong organic growth pipeline, we are well positioned to sustainably deliver sector-leading growth and shareholder returns, creating long-term value for all stakeholders.”
