08:26 AM EDT, 03/20/2025 (MT Newswires) -- Endeavour Mining plc ( EDVMF ) was at last look down 1.2% in early afternoon UK trade after saying Thursday it has received approval from the Toronto Stock Exchange to renew its Normal Course Issuer Bid for its share buyback programme, with respect to its ordinary shares in order to continue supplementing its shareholder returns.

Under the NCIB, Endeavour may, over the 12-month period of the NCIB, repurchase up to a maximum of 13,902,435 shares, such amount representing 10% of the public float of the shares issued and outstanding as of 12 March 2025, and up to 25% of the average daily trading volume for the six months ended 28 February 2025, calculated in accordance with the rules of the TSX for purposes of the NCIB or 116,218 shares during each trading day, excluding purchases made in accordance with the block purchase exemptions under applicable TSX policies. All shares repurchased under the share repurchase programme will be cancelled. The renewed NCIB will commence on 24 March 2025 and end on 23 March 2026, or such earlier date as Endeavour may complete its purchases pursuant to the notice of intention filed with the TSX. As of 12 March 2025, there were 243,622,876 shares issued and outstanding.

Endeavour said it believes that purchases under the NCIB constitute "a desirable use of its funds on the basis that, from time to time, market prices of the shares may not fully reflect the value of Endeavour's business and future business prospects".