West Africa-focused miner Endeavour Gold has reached the 85%-complete mark in building the Houndé mine, in Burkina Faso, after receiving and starting installation of the longest lead time item, the semi-autogenous grinding (SAG) mill.
Endeavour, which expects to produce between 600 000 oz and 640 000 oz of gold this year (excluding Houndé, which is expected to produce first gold in the fourth quarter), reported Tuesday that all procurement has now been completed, reducing cost over-run risk and less than $120-million out of the forecasted $327-million total project capital expenditures remains to be spent, representing less than 35% of the remaining budget.
