EXK - Endeavour Silver sets 2023 guidance for production costs

Endeavour Silver ( NYSE: EXK ) reported FY 2023 production guidance Thursday, anticipating output of 5.7M-6.3M oz of silver and 36K-40K oz of gold for gold equivalent production of 8.6M-9.5M oz.

Endeavour ( EXK ) expects all-in sustaining costs of $19-$20/oz of silver, with slightly lower than 2022 as comparable sustaining capital, exploration and general and administrative costs will be allocated over increased production.

The company said it plans to invest $34.7M in sustaining capital at its two operating mines, the Guanacevi and Bolañitos mines in Mexico, and plans a $25.7M development budget for the Terronera project in Mexico.

The miner said 2023 guidance marks its fourth consecutive year of production growth and a 25% increase from the midpoint of last year's original forecast.

Earlier this week, Endeavour Silver ( EXK ) reported production for 2022 totaled 6M oz of silver and 37.5K oz of gold, which exceeded the upper range of its guidance .

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