April 9, 2019 / 10:58 AM / 2 months ago

BUZZ-Endeavour's Ity commercial production to boost free cash flow - NBC

** National Bank of Canada upgrades Endeavour Mining Corp to ‘outperform’ from ‘sector perform’; raises PT on the stock to C$31 from C$29

** Says co declared commercial production of its Ity CIL project in Ivory Coast sooner-than-expected

** EDV has scope to improve balance sheet. Sees free cash flow of $1,342 mln over the next 5 yrs vs. total debt of $659 mln, boosted by Ity - NBC

** The Ity CIL project began processing ore on Feb. 20, 2019, and achieved its first gold pour last month

** Ity is expected to produce 160,000 to 200,000 ounces in 2019 at an all-in sustaining cost of $525 to $590/ounce - company statement

** The average rating by 10 analysts covering the stock is ‘buy’ and the mean price target is $30.48

** Stock is down ~11 pct YTD (Reporting By Arundhati Sarkar in Bengaluru)

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