Endeavour Mining Settles Dispute with Lilium Gold

Endeavour Mining has reached a settlement with Lilium Gold concerning the divestment of its Boungou and Wahgnion mines, facilitated by the government of Burkina Faso. Under the agreement, Endeavour will receive a total of $60 million, divided into three payments: $15 million upfront, $15 million by the end of Q3, and $30 million by the end of 2024. Additionally, Endeavour will earn a 3% royalty on up to 400,000 ounces of gold sold from the Wahgnion mine. The settlement concludes legal disputes between the two companies, which arose after Lilium alleged that Endeavour misled them regarding the mines' financial status. Both parties expressed gratitude to the Burkina Faso government for its mediation efforts. Endeavour shares saw a slight decline following the announcement.