Since de Montessus became Endeavour’s CEO in 2016, the company has built two mines
Endeavour followed that transaction with the announcement in November of the friendly acquisition of Teranga Gold in an all-share deal worth US$2 billion, which added the Sabodala-Massawa complex in Senegal, the Wahgnion mine in Burkina Faso, and two advanced assets—Golden Hill in Burkina Faso and Afema in Côte d’Ivoire. The transaction transformed Endeavour into the largest gold producer in Senegal and a new Top Ten senior gold producer with estimated annual production of 1.5 million oz. of gold across six core mines in three countries. It also meant Endeavour could meet the investment hurdles of larger funds and institutional investors.
“You don’t always decide the timing of those things, but we saw it was the right timing and we were able to do it,” he says in a telephone interview from France. “We now have an amazing portfolio and a very strong position in West Africa and see a lot of organic growth and so I’m extremely happy with these acquisitions in what has been a very challenging year.”
