Endeavour --- eine unbekannte (unterbewertete) Perle ??? (Seite 92)

[Rokky100]

Antwort auf Beitrag Nr.: 51.906.531 von Haxe08 am 04.03.16 18:12:02

bin seit einiger Zeit bei TGM drin und die hatten einige Schwierigkeiten die Mine so weit zu bekommen. Ich glaube die Daten approximately 110,000 ounces to 120,000 ounces per year at a low all-in sustaining costs (AISC) of approximately $700 (U.S.) per ounce in years one to five, with a mine life of 8.5 years based on current reserves. sind gut und sie haben noch eine Menge an nicht exploriertem Gebiet.

[Haxe08]

Antwort auf Beitrag Nr.: 51.906.342 von Rokky100 am 04.03.16 18:00:58

Keine Ahnung was ich von diesem Newsflow halten soll....
Gestern die Jahres-und Quartalsergebnisse, welche allerdings noch nicht detailliert präsentiert worden sind. AISC von 934 US Dollar....naja ich habe mit weniger gerechnet.
Youga verkauft und jetzt noch die Übernahme von True Gold...
Nette Firma aber alles über Verwässerung finanziert. Da kommen halt mal zusammen mit den La Mancha Aktien satte 25Mio neue Shares auf den Markt.... Ziemlich harter Stoff muss ich sagen.
Cash ist jetzt genug da und da erwarte ich dass Hounde aus dem Cash + Cashflow hochgezogen wird.
Jetzt ist wirklich genug verwässert.

[Modus-Berlin]

Nach einer relativ kurzen, dafür aber intensiver Lektüre sehe ich den Deal positiv.

Für den Preis von 191 Mio Can $ = 143 Mio USD bekommt man:
- Produktion von 110-120 Tsd Oz a 700 USD AISC - Start April 2016 (die Mine ist fast fertig)
- 949 Tsd Oz Reserves
- 2,62 Mio Oz Resources Ind
- 2,32 Mio Oz Resources Inf
- interessantes Erweiterungspotential
- Cash Flow after tax free = 265 Mio USD
- AISC der gesamten Gruppe (5 arbeitende Minen + Houndé Project werden um 25 USD / Oz reduziert

Bei einer jährlichen Produktion von 700 Tsd Oz ergibt sich hiermit eine Ersparnis bei den AISC von ca 17,5 Mio USD jährlich, wodurch sich die gesamte Investition in True Gold nach 8 Jahren auszahlt - alleine durch diese Ersparniss.

Produktion der Gruppe steigt von 600 Tsd (575-600) um 110-120 Tsd (True Gold) auf ca 700 Tsc Oz.
Mit der Konstruktion des Houndé Projekt beginnt man Mitte 2016; nach ca. 18 Monaten (Ende 2017-Anfang 2018) startet die Produktion mit durchschnittlich 230 Tsd Oz á 714 USD AISC
Total Produktion ca 900 Tsd Unzen Au ab 2018

Was man braucht ist etwas Geduld und Vertrauen in steigende Goldpreise.

[Rokky100]

Ich gehe davon aus das ihr einen guten Deal gemacht habt. Das einzige Risiko ist immer noch ein wenig das Länderrisiko obwohl inzwwischen mit den Nachbargemeinden alles geregelt sein sollte.

Ich hatte gehofft, das TGM noch den euro erreicht bis sie aufgekauft werden.

[Modus-Berlin]

Endeavour ist hungrig und nicht zu stoppen.

Ich muss mich erst hineinlesen...

[freddy1989]

Gibt es neues

http://www.finanznachrichten.de/nachrichten-2016-03/36670437…

Endeavour Mining to acquire True Gold to grow its low-cost gold production


View News Release in PDF Format (http://hugin.info/171882/R/1991975/733026.pdf)

George Town, March 4, 2016 - Endeavour Mining (TSX:EDV) (OTCQX:EDVMF) is pleased to announce that it has entered into a definitive arrangement agreement with True Gold Mining Inc. ("True Gold") (TSX-V:TGM) pursuant to which Endeavour Mining will acquire all of the issued and outstanding common shares of True Gold via a court-approved plan of arrangement (the "Arrangement Agreement"). In conjunction with the acquisition, Endeavour Mining is pleased to announce that La Mancha Holding S.Ã r.l., its largest shareholder with 30% ownership, intends to exercise an anti-dilution right that will result in an approximate CDN$82.6 million (US$61.5 million) new equity placement in Endeavour Mining.

Summary of the transaction

Acquisition of True Gold in an all share transaction with each True Gold common share exchanged for 0.044 of an Endeavour Mining common share valuing True Gold at approximately CDN$0.57 per share or CDN$226 million, using closing prices on the TSX and TSX-V as of March 3, 2016. Using Endeavour Mining's 20-day volume weighted average price ("VWAP"), the acquisition is valued at CDN$191 million.

The offer represents a 43.4% premium for the True Gold shareholders using closing prices as of March 3, 2016 and a 32.7% premium using 20-day VWAPs, on the TSX and TSX-V, respectively.

True Gold has a 90% interest in the Karma gold mine in Burkina Faso, which is nearing production start-up with first gold pour anticipated in late March / early April 2016. The acquisition will increase Endeavour Mining's forecast gold production rate by approximately 110,000 - 120,000 ounces per year at a low AISC of approximately US$700/oz in years 1 to 5, with a mine life of 8.5 years based on current reserves.

Endeavour Mining's attributable Proven and Probable gold reserves will increase by 19% to 5.4 million ounces and Measured and Indicated gold resources will increase by 39% to 10.2 million ounces, and Inferred gold resources will increase by 123% to 3.9 million ounces (see Appendix 2).

Under the transaction, Endeavour Mining is providing a US$15 million convertible bridge loan to True Gold (the "Bridge Loan") to ensure True Gold remains well funded as it completes construction of the Karma Mine. Currently, True Gold has drawn US$105 million of its US$120 million gold streaming facility with Franco-Nevada Corporation and Sandstorm Gold Ltd. Endeavour Mining is providing the Bridge Loan as a financing alternative that allows True Gold to maintain its current liquidity without additional gold streaming.

The anti-dilution right permits La Mancha to subscribe for new Endeavour Mining shares to maintain its current 30% ownership. Upon completion of the True Gold acquisition, La Mancha has committed to purchase approximately 7.5 million Endeavour Mining shares at a price of CDN$10.94 (in line with 20-day VWAP) for proceeds of approximately CDN$82.6 million. The subscription for, and listing of, all new shares is subject to TSX and other regulatory approvals.

Neil Woodyer, CEO of Endeavour Mining, stated: "The production profile and low cost of True Gold's Karma Mine is a very attractive fit with our West African operating portfolio. Karma is nearing production, and Endeavour Mining has both the financial strength and an experienced operations team to ensure Karma's value is maximized during this important stage. While True Gold shareholders are receiving an attractive premium and an opportunity to participate in a larger diversified West African producer, Endeavour Mining shareholders are gaining a new, low-cost mine that boosts group production while reducing group AISC/oz in a value accretive transaction. In the long term, the Karma Mine has extensive exploration potential to extend its mine life. Endeavour Mining's enhanced ability to finance an expanded exploration strategy at Karma, and at our own mines, is expected to generate significant value.

With the expected closing of this acquisition in April 2016, we intend to see Karma complete its production ramp-up and then commence construction of the Houndé Project.

This transaction also demonstrates the strength of Endeavour Mining's strategic relationship with La Mancha and Naguib Sawiris as our long term partner with the shared vision of building a leading, Africa-focused gold producer."

Terms of the Arrangement Agreement

Under the Arrangement Agreement, each True Gold shareholder will receive 0.044 of an Endeavour Mining common share ("Endeavour Mining Share") in exchange for each True Gold common share. Also under the Arrangement Agreement, True Gold stock options will become exercisable for Endeavour Mining Shares using the same 0.044 exchange ratio subject to a maximum term of 180 days from closing, or 1 year from closing if so provided under the relevant optionee's employment agreement.

True Gold shareholders will represent 20.9% of Endeavour Mining capital after the exercise of the La Mancha anti-dilution right.

Completion of the Arrangement will be subject to, among other things, approval by 66 2/3% of the True Gold shareholder votes cast, approval by 50% of the Endeavour Mining shareholder votes cast, and other customary conditions including court approvals. The two shareholder meetings are expected to occur in the third week of April 2016 and the transaction is expected to close before the end of April 2016.

For the benefit of Endeavour Mining's shareholders, full details of the proposed transaction will be included in a management information circular to be filed with regulatory authorities in Canada and mailed to the Endeavour Mining shareholders in accordance with applicable securities laws. The record date for the special meeting of the Endeavour Mining shareholders will be announced in the near future.

Highlights of the Acquisition

The True Gold acquisition is consistent with Endeavour Mining's previously-announced 'buy-and-build' strategy and firmly positions the company as one of West Africa's premier gold miners.

The Karma Mine provides a material upgrade to the recently divested Youga Mine and emphasizes management's dedication to proactive portfolio management and cash flow maximization.

On a pro forma basis, Endeavour Mining will have five producing mines; the Houndé Project, a long-life and low-cost development project that is construction ready; and an attractive pipeline of development and exploration properties (see Figure 1 for locations).

Through an all-stock transaction, True Gold shareholders can continue to participate in the future growth of Karma through Endeavour Mining shares and, importantly, access its superior financial capacity and leverage its proven operating team.

Endeavour Mining's cash balance and available amount from its revolving credit facility totaled US$220 million, as of December 31, 2015. Including the US$20 million proceeds received from the sale of the Youga Mine on February 29, 2016 and the La Mancha anti-dilution investment of US$61.5 million increases the available liquidity to approximately US$301.5 million.

A pro forma market capitalization of CDN$1.08 billion using Endeavour Mining's closing price on the TSX as of March 3, 2016.

For 2016, Endeavour Mining has production guidance range of 535,000 to 560,000 ounces (updated to exclude the recently sold Youga Mine) at an AISC/oz range of US$870 to US$920. Adding the Karma Mine potentially lowers the AISC range by approximately US$25/oz (assuming Karma achieves US$700 AISC/oz in 2016).

Endeavour Mining will integrate Karma into its existing operations management structures and does not anticipate an increase in its corporate G&A expense also True Gold G&A will be eliminated (~6 m C$/year).

Across a range of valuation metrics and contribution analysis, this acquisition is value accretive to the Endeavour Mining shareholders.

Valuation upside as Endeavour Mining continues to grow its low-cost gold production, and this transaction enhances a financing plan that accelerates the construction of the Houndé Project and the ability to finance an expanded exploration strategy.

Figure 1 - Mine & Project Location Map

Additional Transaction Details

The proceeds of the US$15 million Bridge Loan may be used by True Gold to fund capital expenditures for the completion of the Karma Mine, and for other working capital needs. The terms of the Bridge Loan include a repayment date which is 12 months from the date of the loan; the loan may be repaid in cash or, at Endeavour Mining's sole election, may be converted into common shares of True Gold on certain events. The conversion price for the principal amount of the Bridge Loan will be at a price per common share equal to the 5-day VWAP on the date prior to True Gold's drawdown of the Bridge Loan. Interest on the Bridge Loan will accrue from draw-down at a rate of LIBOR plus 4% and may be paid in cash or in True Gold shares based on True Gold's future market price prevailing at the time.

The Arrangement Agreement includes customary deal protections. True Gold has agreed not to solicit any alternative transactions; Endeavour Mining has been granted the right to match any superior competing offer; True Gold has agreed to pay Endeavour Mining a break fee of approximately C$4.5 million in certain circumstances; Endeavour Mining has agreed to pay True Gold an expense fee of C$4.5 million in certain circumstances.

Both the Endeavour Mining and True Gold Boards of Directors have unanimously approved the terms of the Arrangement Agreement and recommend that their respective shareholders vote in favour of the proposed acquisition.

All of True Gold's officers and directors and certain shareholders, holding, in the aggregate 15.7% of the issued and outstanding True Gold shares, have entered into support agreements with Endeavour Mining to vote in favour of the Transaction.

All of Endeavour Mining's directors and officers and certain shareholders, holding in the aggregate 31.5% of the issued and outstanding ordinary shares of Endeavour Mining have entered into support agreements with True Gold to vote in favour of the issuance of the ordinary shares pursuant to the Transaction.

Pro Forma Capital Structure

Table 1: Pro Forma Capital Structure
Issued and outstanding shares (millions) Pro Forma Issued shares (millions) Pro Forma Ownership
Endeavour Mining 59.04� 59.04 70.19%
True Gold 398.84� 17.55 20.86%
La Mancha, anti-dilution investment 7.53� 8.95% 30.00%1
Total issued shares 84.12 100.00%

1 La Mancha currently owns 17,706,157 shares of Endeavour Mining such that it will hold 30.00% ownership following
the anti-dilution investment

Advisors

Endeavour Mining is being advised by UBS Investment Bank and Stikeman Elliott LLP.

True Gold is being advised by National Bank Financial, Haywood Securities Inc. (Special Committee) and Blake, Cassels & Graydon LLP.

La Mancha is being advised by Norton Rose Fulbright LLP.

Conference Call and Webcast Details

Endeavour Mining will host a conference call and webcast to discuss the transaction as part of its previously announced year-end results conference call and live webcast at 9:00 am Toronto time (EST) on Friday, March 4th, 2016.

The conference call and live webcast are scheduled on Friday March 4, 2016 at:
6:00am in Vancouver
9:00am in Toronto and New York
2:00pm in London
10:00pm in Hong Kong and Perth

The live webcast can be accessed through the following link:
http://edge.media-server.com/m/p/p944mzru (http://edge.media-server.com/m/p/p944mzru)

Analysts and interested investors are also invited to participate and ask questions using the dial-in numbers below:
International: 1 212 444 0412
North American toll-free: 1 877 280 2342
UK toll-free: 0800 279 5004
Australian toll-free: 1 800 027 830

Confirmation code: 4692288

The conference call and webcast will be available for playback on Endeavour Mining's website.

Contact Information

Vincent Benoit

EVP - Strategy & Business Development
[phone]
[e-mail]

Martino De Ciccio

VP - Strategy & Investor Relations
[phone]
[e-mail]

Brunswick Group LLP

[nicolani]

ja super! hoffentlich heute nicht "sell on good news"!der goldpreis spielt ja schliesslich mit!

[Boersiback]

Jahreszahlen sind da 2015

http://hugin.info/171882/R/1991774/732925.pdf

[Modus-Berlin]

http://finance.yahoo.com/echarts?s=EDV.TO+Interactive#{"show…Ein schöner Chart:

Damit man weiss, wo man ist und wo man hin möchte ...

[startvestor]

Antwort auf Beitrag Nr.: 51.885.894 von Modus-Berlin am 02.03.16 19:57:09

Der Preis für Youga ist sehr mikrig. Würde man das auf die anderen Minen wie Tabakoto hochrechnen - gruselig. Aber ich bin hier schon länger nicht mehr investiert und konkrete Zahlen schreibt ihr ja nicht.

Kennt ihr die eigentlich nicht oder interessieren die euch gar nicht? Mich interessiert, wie viele Infos ein normaler Anleger wirklich haben will und wann es ihm zu viel wird.