Endeavour Mining Announces Results of Annual General Meeting
June 28 2016 - 8:12AM
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Endeavour Mining
Announces Results
of Annual General Meeting
View News Release in PDF Format
George Town, June 28, 2016 - Endeavour Mining
Corporation (TSX:EDV)(OTCQX:EDVMF) is pleased to announce the
voting results of its Annual General Meeting of Shareholders held
on Tuesday, June 28, 2016. Shareholders voted to re-elect the
nominees for the Company's Board of Directors ("The Board").
Sébastien de Montessus has been
appointed as Chief Executive Officer ("CEO"), effective today,
replacing Mr. Neil Woodyer who has also decided to step down from
the Board. The Board of Directors wishes to thank Mr. Woodyer for
his significant contribution to the growth of the Company.
Michael Beckett, Chairman of the
Board of Directors commented, "I am pleased that
all proposed resolutions have been passed and thank all our
shareholders for their continuing support. I would like to pay
particular tribute to Neil Woodyer as he steps down as CEO. It was
Neil's vision that created Endeavour, and under his leadership the
business has grown from a single operating mine to become a leading
West African gold producer with 5 mines in operation and 2 advanced
development projects. He created a company that has delivered
significant value for shareholders and he leaves it well placed to
continue its growth trajectory. On behalf of the company and its
investors, we thank him for his considerable achievements and wish
him every success for the future."
"I would also
like to welcome Sebastien de Montessus as CEO. We are very pleased
that he will lead the company in the next phase of its development.
Sebastien's experience and expertise in the mining industry ensures
that Endeavour is in good hands as we continue to pursue our growth
strategy. In addition, over the coming months we plan to review and
improve our corporate governance to achieve industry best
practice," added Mr. Beckett.
Sébastien de Montessus, CEO of
Endeavour, said: "Neil should be rightly proud of
his achievements. He led the growth of a company that today
contains a portfolio of low cost assets with exceptional prospects
for future growth, including Hounde, Ity and Karma, and that is
backed and supported by a strong balance sheet and a quality team
with a first class track record of project construction and
operation. I am very excited to lead Endeavour into the next phase
of its growth and to generate value for the company's shareholders
and stakeholders."
The results for each resolution
were as follows:
Resolution |
Votes For |
% For |
Votes Withheld |
% Withheld |
Elect Michael Beckett |
38,715,255 |
67.49% |
18,652,401 |
32.51% |
Elect Ian Cockerill |
57,134,342 |
99.59% |
233,314 |
0.41% |
Elect Frank Giustra |
57,316,574 |
99.91% |
51,082 |
0.09% |
Elect Ian Henderson |
54,009,767 |
94.15% |
3,357,889 |
5.85% |
Elect Wayne McManus |
52,869,561 |
92.16% |
4,498,095 |
7.84% |
Elect Sébastien de Montessus |
57,313,641 |
99.91% |
54,015 |
0.09% |
Elect Miguel Rodriguez |
56,181,240 |
97.93% |
1,186,416 |
2.07% |
Elect Naguib Sawiris |
56,032,936 |
97.67% |
1,334,720 |
2.33% |
Appoint Deloitte LLP |
60,837,119 |
99.73% |
164,748 |
0.27% |
About Endeavour Mining Corporation Endeavour
Mining is a TSX-listed intermediate gold producer, focused on
developing a portfolio of high quality mines in the prolific
West-African region, where it has established a solid operational
and construction track record. Endeavour is ideally positioned as
the major pure West-African multi-operation gold mining company,
operating 5 mines in Côte d'Ivoire (Agbaou and Ity), Burkina Faso
(Karma), Mali (Tabakoto), and Ghana (Nzema). In 2016, it expects to
produce between 535koz and 560koz at an AISC of US$870 to
US$920/oz, excluding Karma which is in the commissioning stage.
Endeavour is currently building its Houndé project in Burkina Faso,
which is expected to commence production in Q4-2017 and to become
its flagship low-cost mine with an average annual production of
190koz at an AISC of US$709/oz over a 10-year mine life based on
reserves. The development of the Houndé project is expected to lift
Endeavour's group production +900kozpa and decrease its average
AISC to circa $800/oz by 2018, while exploration aims to extend all
mine lives to +10 years.
Contact
Information
Vincent Benoit
EVP - Strategy & Business Development
+33 (0)1 70 38 36 96
vbenoit@endeavourmining.com
Martino De Ciccio
VP - Strategy & Investor Relations
+33 (0)1 70 38 36 95
mdeciccio@endeavourmining.com |
DFH Public Affairs in Toronto
John Vincic
(416) 206-0118 x.224
jvincic@dfhpublicaffairs.com
Brunswick Group LLP in London
Carole Cable, Partner
+44 7974 982 458
ccable@brunswickgroup.com |
Endeavour Mining | Executive
Office | Bureau 76, 7 Boulevard des Moulins, Monaco 98000
This news release contains
"forward-looking statements" including but not limited to,
statements with respect to Endeavour's plans and operating
performance, the estimation of mineral reserves and resources, the
timing and amount of estimated future production, costs of future
production, future capital expenditures, and the success of
exploration activities. Generally, these forward-looking statements
can be identified by the use of forward-looking terminology such as
"expects", "expected", "budgeted", "forecasts", and "anticipates".
Forward-looking statements, while based on management's best
estimates and assumptions, are subject to risks and uncertainties
that may cause actual results to be materially different from those
expressed or implied by such forward-looking statements.
Accordingly, readers should not place undue reliance on
forward-looking statements. Please refer to Endeavour's most recent
Annual Information Form filed under its profile at www.sedar.com
for further information respecting the risks affecting Endeavour
and its business.
View News Release in PDF
Format
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Endeavour Mining Corporation via
Globenewswire
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