Africa-focused Canadian gold producer Endeavour Mining has reported a $3-million, or $0.05 a share headline profit for the three months ended March 31, as markedly lower all-in sustaining (AISC) costs and higher year-on-year sales boosted the financial performance.
The TSX-listed miner, which had moved the administrative and regional offices to Paris and Abidjan, reported total net earnings attributable to shareholders were $1-million, or $0.02 a share, compared with $9-million, or $0.22 a share, for the same period in 2015, as a result of the True Gold acquisition costs for Karma, as well as increased operating and corporate costs owing to the first full quarter of operating the Ity mine.
