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Endeavour International Corporation

Publié le 08 septembre 2011

Mining in Winston's Growth Stock Report

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Vanguard Shareholder Solutions


Endeavour Mining Corp. (EDV, TSX) West African Gold Merger

A merger with Adamus Resources will make Endeavour a leading West African mid-tier gold producer

On August 9th I sent out a bottom fishing alert on Endeavour Mining citing their growth projections which would enable them to become a mid tier gold producer as they further developed their West African assets.

Last week Endeavour announced a merger plan with Adamus Resources (ADU, ASX) which will solidify their position as a mid tier gold producer in West Africa and give investors a potential double from today's current share price.

If you've been holding off on getting your position don't worry. The stock is up about 15% since my last update but we are still in the summer slow season and there still potential for a triple digit capital gain with EDV over the short term.
 
Here are the highlights of the deal...

Summary
Endeavour Mining announced that it has entered into a definitive agreement with Adamus Resources where ADU shareholders will receive 0.285 shares of EDV for every share of ADU they hold.

This merger will add Adamus' Nzema gold mine assets to Endeavour's Youga and Agbaou projects giving the new company an estimated production of 172,000 oz's of gold in 2011. Gold production is projected to grow to 250,000 ounces by the end of 2013.

Once the deal is completed, EDV will pay off ADU's $60 million debt facility and another $100 million will go toward paying down the Nzema gold hedge.

This is a good deal for EDV shareholders. Once the market comes back to life in the fall, investors will see that Endeavour is trading well below their peer group valuation. Continued positive news flow from EDV should quickly build up the share valuation over the next 12 to 15 months.

With this merger Endeavour has become a focused, growth oriented, West African gold producer.

Adamus Resources Nzema Gold Mine
The Nzema project is an open pit design with a CIL processing plant that has the capacity of 2.1 tonnes of ore per year. The mine has JORC compliant reserves of 1.07 million ounces plus another 1.049 million ounces of resources not included in the reserve category.
 
The mine began production earlier this year and the first full quarter of production was completed in Q2 where 26,015 ounces were produced with a cash cost of $544 per ounce.

Adamus management had been estimating total production for 2011 would come in at 88,000 ounces and increasing to 100,000 - 105,000 ounces over 2012. At this point the mine has enough reserves for an eight year mine life. This estimate will change once the resource numbers are added in to proven reserves.

The Nzema project has a hedge attached to it which Adamus needed to complete their project financing. As of June 2011, 275,887 ounces of gold were hedged at US$1075 per ounce. There is a hedge schedule which would account for about 50,000 ounces of gold per year over 5.5 years. Once the deal with Endeavour is completed, EDV plans to pay down this hedge which will cost them around $100 million. Having followed Endeavour for several years now I can tell you that their management is as bullish on the price of gold as I am, and being unhedged should pay off handsomely for all shareholders.

Full Article
---------------------------------------------------------------
For more information, please contact:

Vanguard Shareholder Solutions
Tel: 604.608.0824
Toll Free: 866.341.4111
investor@endeavourmining.com
www.endeavourmining.com 
Vanguard Solutions

Endeavour International Corporation

EN DÉVELOPPEMENT
CODE : END
ISIN : US29259G2003
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Endeavour est une société développant des projet miniers et de pétrole basée aux Etats-Unis D'Amerique.

Endeavour est en développement de projets de gaz en U.k., et détient divers projets d'exploration en Norvege.

Son principal projet en développement est COLUMBUS en U.k. et ses principaux projets en exploration sont NOATUN et ROCHELLE DISCOVERY en Norvege.

Endeavour est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 7,3 millions US$ (5,8 millions €).

La valeur de son action a atteint son plus haut niveau récent le 13 janvier 2012 à 9,99 US$, et son plus bas niveau récent le 10 octobre 2014 à 0,15 US$.

Endeavour possède 47 200 000 actions en circulation.

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Dans les médias de Endeavour International Corporation
03/09/2010Endeavour Merchant Bank Becomes Gold Producer
Financements de Endeavour International Corporation
11/07/2016Closes C$144 million Bought Deal Financing
Nominations de Endeavour International Corporation
03/10/2016appoints two new independent non-executive directors
05/06/2013Mining Reports Election Of Directors
02/04/2013Mining Appoints Ian Henderson to Board of Directors
22/03/2013Mining Announces Director Resignation Following Integration ...
08/06/2012Mining Appoints VP Investor Relations
07/11/2008announces resignation of U.S Global and appointment of new c...
Rapports Financiers de Endeavour International Corporation
21/04/2016and True Gold Shareholders Approve Acquisition Transaction
06/11/2013Announces 2013 Third Quarter Financial and Operational Resul...
06/08/2013Announces 2013 Second Quarter Financial and Operational Resu...
30/07/2013Schedules 2013 Second Quarter Conference Call and Web Cast
09/05/2012Mining Delivers Strong First Quarter Results Including 49,53...
14/03/2012Mining Reports 2011 Financial Results
14/03/2012Mining Reports 2011 Financial Results And Demonstrates Signi...
10/08/2011Mining Reports Q2 2011 Cash Flow From Mine Operations
13/06/2011Mining Reports Q1 2011 Cash Flow From Mine Operations
22/03/2011Mining Reports Net Income Of $9.6 Million
09/02/2009REPORTS FINANCIAL RESULTS FOR QUARTER ENDED DECEMBER 31, 20...
13/11/2008REPORTS FINANCIAL RESULTS FOR QUARTER ENDED SEPTEMBER 30, 20...
22/08/2008Release Financial Results
Projets de Endeavour International Corporation
26/04/2016Completes Acquisition of True Gold
27/01/2014Mining Declares Commercial Production at Agbaou and Signs Co...
29/11/2013Mining Pours First Gold Bar at Agbaou Mine Ahead of Schedule
13/11/2013Completes Sale and Forms Joint Venture with Samson Explorati...
13/11/2013Mining Reports Record Q3 Gold Production of 88,445 oz and Al...
06/11/2013Mining Announces Positive Feasibility Study ForHound=E9 Gold...
06/08/2013Mining Reports Delivery of Mining Equipment at Agbaou Gold M...
25/06/2013Mining Reports Tabakoto Mill Expansion Achieves Design Capac...
12/06/2013Mining Reports Delivery of Mills at Agbaou Gold Mine and Ach...
24/04/2013Mining Reports Agbaou Gold Mine Construction Progress
22/01/2013Mining Delivers 310,000 Oz Gold Production and Provides 2013...
22/01/2013Mining Delivers 310,000 Oz Gold Production Exceeding 2012 Gu...
18/10/2012Mining closes Avion Acquisition and announces new Board Memb...
01/10/2012Mining Announces ISS and Glass Lewis Recommend in Favour of ...
20/09/2012Mining Announces Full and Final Settlement With Gold Reserve
07/09/2012Mining Drilling At Agbaou Demonstrates Potential For Pit Exp...
16/07/2012Mining Delivers 102,691 Oz of Gold Production in First Half ...
13/07/2012Mining Files Technical Report For Agbaou Gold Project
11/06/2012Agbaou Gold Project enters construction with planned 103,000...
11/06/2012Agbaou Gold Project Enters Construction
11/05/2012Mining Discovers New Oxide Zones at Nzema Gold Mine
03/05/2012Expands Nzema Sulphide Program And Initiates Preliminary Eco...
20/03/2012Goals Met, New Targets Set: Endeavour Mining Earns an A+ For...
20/03/2012Canaccord Genuity Issues $4.00 Target on Endeavour Mining
06/03/2012Mining Sells 40% Interest in Finkolo JV for US$20 Million Ca...
23/02/2012Near-Mine Exploration Programs Yield Strong Results for Ende...
19/12/2011Mining And Adamus Resources Complete Merger
05/12/2011Mining Merger With Adamus Resources Has Become Effective
12/09/2011Mining Reports Positive Drill Results at Agbaou Including 10...
12/09/2011Mining Reports Positive Drill Results at Agbaou
22/08/2011Mining and Adamus Resources to Merge
03/08/2011Mining Reports Exploration Results At C=F4te D'Ivoire Develo...
Communiqués de Presse de Endeavour International Corporation
26/07/2016to Announce its Q2 Results on Thursday July 28, 2016
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26/02/2014Issues Statement Regarding Nomination Notice by Stockholders
30/01/2014Mining Delivers 324,275 oz in 2013 and Forecasts 400,000 to ...
27/01/2014Announces Closing of $255 Million Senior Secured First Lien ...
06/01/2014Announces Intention to Refinance Revolving Credit Facility a...
03/12/2013Mining Files Technical Report For Hound=E9 GoldProject Feasi...
04/11/2013Mining to Release Q3 Results on November 12, 2013
28/10/2013Mining Closes Sale of Non-Core Finkolo JV and Receives $16 M...
22/10/2013Announces Completion of Strategic Review, Organizational Cha...
15/10/2013Mining Initiates Mining at Agbaou and Completes Power Line I...
07/08/2013Mining To Release Q2 Results On August 14, 2013
24/07/2013Mining Increases And Extends Debt Facility To Strengthen Fin...
18/07/2013Business Excellence features Endeavour Mining in July 2013 i...
15/05/2013Mining Reports Q1 All-In Sustaining Margin Of $39 Million An...
06/05/2013Mining to Release Q1 Results on May 14, 2013
30/04/2013Mining Sells Non-Core Rare Earths Shareholding For US$5.3M C...
27/03/2013Mining Reports 2012 All-In Margin of $130 Million and Update...
20/03/2013Mining To Release 2012 Year-End Results On March 28, 2013
13/03/2013Mining's Agbaou Construction Continues on Schedule
12/03/2013Mining Files Hound=E9 PEA=2C Completes In-FillDrilling And ...
22/01/2013Mining Announces Positive PEA for Hound=E9 GoldProject
08/11/2012Mining To Release Q3 Results On November 14, 2012
12/10/2012Mining Shareholders Approve Avion Acquisition to Grow Gold P...
27/08/2012Receives Encouraging Drill Results from PEA-Stage Ouar=E9 Pr...
27/08/2012Bids for Avion
15/08/2012Mining Granted Mining Permit for Agbaou Gold Project
08/08/2012MINING TO ACQUIRE AVION GOLD
08/08/2012Mining Reports Strong Q2, with Cash Flow of $47.6 Million fr...
03/08/2012Mining Q2 Webcast Moved To August 9
01/08/2012Mining to Release Q2 Results on August 7
28/06/2012Completes Ouar=E9 Drilling and Commences Resource Update for...
21/06/2012Mining in Gold Newsletter
01/06/2012Digs Deeper, Brings Strong Gold Results from Youga
28/05/2012Positive Drilling Results from Endeavour's Youga Gold Mine
04/05/2012Mining To Release Q1 Results On May 8th, 2012
02/05/2012Expands Nzema Sulphide Program
30/04/2012Strong drilling results from Endeavour Mining's Youga Gold M...
19/04/2012Buy Recommendation for Endeavour Mining
02/04/2012Mining Commences Trading in the U.S. on OTCQX International
26/03/2012Mining Corp. on the Way Up with 3 Mines and 3 Triangles
22/03/2012Five Things to Love About Endeavour Mining
08/03/2012Mining to Release Year End Results on March 13, 2012
07/03/2012VIDEO CORRECTION - Endeavour Mining CEO on BNN
07/03/2012Mining CEO on BNN
04/03/2012Mining Completes Salman Village Resettlement In Ghana
02/02/2012Mining Meets 2011 Gold Production Targets
30/01/2012Mining Reports Q4 and Full Year 2011 Gold Production and 201...
30/01/2012Mining Reports Q4 and Full Year 2011 Gold Production
27/01/2012Mining in Globe and Mail
10/01/2012Mining in Gold Newsletter
29/11/2011Mining Closeout Of Youga Gold Hedge Book
28/11/2011Mining on BNN's Market Call
25/11/2011Mining Shareholders Approve Merger With Adamus
13/10/2011Mining Reports Closing of Sale of Non-Core Diamond Assets an...
13/10/2011Mining Reports Closing Of Sale Of Non-Core Diamond Assets
20/09/2011Mining In Gold Newsletter
19/09/2011Mining Reports Positive Exploration Results at Youga Includi...
08/09/2011Mining in Winston's Growth Stock Report
31/08/2011Two West African Gold Producers Merge - Endeavour Mining
26/08/2011MD/CEO Mark Connelly discusses Adamus' Merger of Equals with...
25/08/2011Mining To Merge With Adamus
18/08/2011Junior Gold Producers Rising to the Occasion - Endeavour Min...
15/08/2011Mining's Profit Rises on Higher Gold Output, Prices
11/08/2011Mining Corp. is Moving Toward Mid Tier Gold Producer Status
08/08/2011Mining - A Deep Discounted Emerging Gold Producer
04/08/2011Mining To Release Second Quarter 2011 Results On August 10, ...
10/06/2011to Release First Quarter 2011 Results on June 13, 2011
28/06/2010ANNOUNCES SIGNING OF $100 MILLION ACQUISITION FACILITY WITH...
11/06/2010and Severstal Find Synergy In Crew Gold: MineralSTOX
02/06/2010Severstal & Endeavour Reach Agreement for Building Value in ...
14/10/2009Appointed as Project Finance Advisor
23/02/2009Financing Highlights Investors Moving into Gold - Midas Lett...
19/01/2009DECLARES MONTHLY DIVIDEND FOR JANUARY 2009
17/12/2008DECLARES MONTHLY DIVIDEND FOR DECEMBER 2008
03/11/2008to Release Q1 Results November 12, 2008
04/09/2008REPORTS NET INCOME OF US$56.5 MILLION FOR YEAR ENDED JUNE 30...
12/08/2008Declares Monthly Dividend for August 2008
14/07/2008Declares Monthly Dividend for July 2008
12/05/2008 DECLARES MONTHLY DIVIDEND FOR MAY 2008
12/04/2008Declares Monthly Dividend for April 2008
13/03/2008Declares Monthly Dividend for March 2008
24/05/2007Acquires Remaining 49% Interest In Guanacevi Mines Project, ...
02/05/2007 Closes Acquisition of Bolanitos Exploitation Contracts; Ann...
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AMEX (END)
0,155-16.26%
AMEX
US$ 0,155
07/10 16:07 -0,030
-16,26%
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