06:43 AM EDT, 07/02/2024 (MT Newswires) -- Endeavour Mining ( EDVMF ) on Tuesday said it achieved first gold pour at the Lavigne mine in Cote d'Ivoire on June 28, on budget and a quarter ahead of schedule.

The company expects to achieve commercial production and subsequent ramp-up to nameplate plant capacity of 4.0 million metric tons per year in the third quarter.

Since the start of wet commissioning on May 30, about 77,000 metric tons of ore has been processed through the Lafigue processing plant, with all circuits operating in line with expectations. The first gold pour yielded about 380 ounces of gold.

Lafigue is expected to produce between 90,000 and 110,000 ounces of gold at an all-in sustaining cost of between $900 and $975 per ounce in 2024, with production increasing to about 200,000 ounces in 2025.

"The Lafigue project is the fifth project that we have successfully built in West Africa in the last decade, which is a testament to the strength of our in-house project construction team and is a demonstration of our competitive advantage in West Africa, the world's most prospective and largest gold producing region," said Endeavour CEO Ian Cockerill.

Endeavour at last look edged up 0.3% to 1,727 British pounds per share in early London trading.