Endeavour Sees 2026 Output in Lower Half of 1.265 Million-Ounce Range
Key Facts
Endeavour Mining expects group production to come in the lower half of its 2026 guidance range of 1.09 million to 1.265 million ounces, according to the company’s third-quarter results disclosure issued on November 12. The outlook comes as Mana operations face disruptions that have affected production, with the company expecting the mine to produce below the lower end of its annual guidance. Mana’s target range is 155,000 to 180,000 ounces for the financial year. The company said higher-than-expected production at Lafigué would only partially offset the shortfall. That puts group performance in the lower half of the annual range, while Mana’s own production remains below its target.
Endeavour attributed the weaker outlook at Mana to a combination of operational factors. The high-grade Siou deposit was depleted faster than expected, work at Aviera was temporarily halted, and the start of mining at Bana Camp was delayed. The company also said part of the access ramp to the Wona mine subsided on October 28. The incident led to the suspension of underground mining at Mana, but did not affect active ore-producing areas on deeper levels. The company said underground mining activities were halted at all three active portals to allow for geotechnical analysis and assessment of ramp repairs.
The ramp subsidence incident caused no injuries, according to Endeavour, which said it evacuated workers underground and activated emergency procedures immediately. In an earlier statement, the company said mitigation options included resuming and accelerating mining at the Wona portal, which remained accessible, as well as using other nearby pits. On November 2, it had said it remained on track to meet its annual production and cost guidance, before releasing third-quarter results and updating its outlook for Mana. The company scheduled the geotechnical analysis update and details of the repair plan for its third-quarter results on November 12. Management was due to hold a conference call and webcast the same day at 1:30 p.m. GMT.
Group production totaled 256,000 ounces in the third quarter, down 26,000 ounces from the second quarter, when it reached 283,000, and below the 264,000 ounces recorded in the third quarter of 2025. The company attributed the quarterly decline to lower ore grades at the Ity, Houndé and Lafigué mines. Volumes processed at Houndé fell because of the rainy season, while those at Mana declined because of the temporary halt at Aviera. For the nine months ended September 30, 2026, production totaled 820,000 ounces, compared with 911,000 in the same period of 2025. These figures show the production trajectory ahead of the new annual outlook, with part of the year’s performance still dependent on resolving disruptions at Mana.
The group’s all-in sustaining cost was $1,857 an ounce in the third quarter, compared with $1,907 in the second quarter. In its first-half results, the company had indicated that operating performance would be weighted toward the fourth quarter. In July, it said production and ore grades in the third quarter would be affected by the rainy season and pre-stripping work before improving significantly in the fourth quarter. When announcing the ramp subsidence at Mana, Endeavour said it remained on track to meet its 2026 production and cost guidance. Its November 12 update then linked developments in the incident to its annual outlook, noting that Lafigué production would offset part of the expected shortfall at Mana. The company’s EDV.L shares closed at 4,127 on November 11; verified data for the November 12 session was not available.