Key Points – Record first-half performance: Endeavour Mining generated $761 million in free cash flow, up 19% from the second half of 2025, while adjusted EBITDA reached a record $1.6 billion.
The company returned $301 million to shareholders through dividends and buybacks and ended Q2 with $254 million in net cash. – Guidance maintained despite near-term pressure: Full-year production and cost guidance remain unchanged, although management expects a higher-cost, lower-output third quarter due to wet-season conditions, lower grades and stripping activity
Sustaining capital guidance rose to $280 million from $230 million. – Growth projects advancing, while Mana faces setbacks: Endeavour is targeting a final investment decision for the Assafou development by year-end and first ore from the Sabodala-Massawa underground expansion by year-end. Mana is expected to miss production and cost guidance following operational disruptions, while a fatal contractor accident at Lafigué prompted additional safety measures. Endeavour Mining (LON:EDV) reported record free cash flow and shareholder returns for the first half of 2026, while maintaining its full-year production and cost guidance despite expected operational variability across its mine portfolio.
Chief Executive Officer Ian Cockerill said the company produced 564,000 ounces in the first half at all-in sustaining costs of $1,871 per ounce. Production was stable versus the prior period, while all-in sustaining margins increased 37%, aided by higher gold prices. The company generated $761 million of free cash flow in the first half, up 19% from the second half of 2025, despite seasonal tax payments.