EDR:CC - Endeavour Silver Q2 silver equivalent production up 8% to 2.28M oz

2023-07-11 11:55:17 ET

Endeavour Silver ( NYSE: EXK ) said Tuesday its Q2 silver equivalent production increased 8% Y/Y to 2.28M oz and remains in-line with full-year guidance of 8.6M-9.5M silver equivalent oz.

Q2 consolidated silver production rose 10% Y/Y to 1.49M oz, driven primarily by increased output at the Guanacevi mine due to higher throughput and recoveries offset by a reduction in silver grade.

Although historically higher grades have been mined from the El Curso orebody, mine sequencing changes during Q2 resulted in lower grades compared to Q1 and the year-ago quarter, but Endeavour ( EXK ) said it expects grades will increase in Q3.

At the Bolañitos mine, Q2 throughput improved slightly from a year earlier, with silver production down 14% and silver grades 17% lower.

The company said it is pleased with the recently announced development decision of Terronera, obtaining a US$120M commitment of debt financing and "gaining momentum at site."

More on Endeavour Silver:

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• Analysis: Endeavour Silver: Another Year Of Successful Reserve Replacement
• Stock price return: Down 12% YTD, down 4.5% in the past 12 months

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