The DFS forecasts 320koz per year at an all-in sustaining cost (AISC) of $1,026/oz over the first eight years and average life-of-mine production of 257kozpa with AISC of $1,062/oz.
The study is underpinned by proven and probable reserves of 4.4Moz (77.4Mt at 1.76g/t) and measured and indicated resources of 5.0Moz (80.1Mt at 1.93g/t), the company said.
Project economics show an after-tax NPV(5%) of $2.1bn and a 28% IRR at a $2,500/oz gold price, rising to $5.1bn and 55% IRR at $4,000/oz.
Upfront capital is estimated at $1,061m for a scalable 5.0Mtpa gravity/CIL processing plant, with the increase reflecting site infrastructure and plant optimisations to de-risk ramp-up and allow future expansion.
Endeavour flagged significant exploration upside with over 20 highly prospective targets, the Assafou deposit open along strike and at depth, and a nearby Pala Trend 3 satellite of 0.2Moz located 1km from Assafou.
Mining is planned as conventional open-pit contract mining with a maximum mining capacity of 53.0Mtpa to support early stockpiling and accelerated ramp-up, and processing assumes ~70% gravity recovery from Knelson concentrators.
Endeavour expects to file a NI 43-101 Technical Report within 45 days, has launched early works, long-lead orders and detailed engineering, and is targeting a final investment decision before the end of 2026 followed by 24-30 months of construction.
“We are pleased with the results of the Assafou project DFS, which confirms the quality and scale of the asset that will underpin the next phase of Endeavour’s organic growth,” Ian Cockerill said.
