EDR:CC - Endeavour Silver to build $230M underground mine at Mexico project

2023-04-18 08:05:37 ET

Endeavour Silver ( NYSE: EXK ) said Tuesday it will proceed with constructio n of an underground mine and mill at the Terronera project in Mexico's Jalisco state, and has executed a commitment letter with Societe Generale and ING Bank for a $120M senior secured debt facility.

Endeavour ( EXK ) said its board approved the construction of an optimized Terronera project scenario, consisting of a process plant with 2K metric tons/day capacity and an initial capital expenditure cost of $230M.

The company said it has made significant progress on development activities, with long-lead item procurement well advanced.

Endeavour ( EXK ) said it expects a 21-month construction period, including 3-6 months ramp up to full production with initial production expected in Q4 2024.

Endeavour Silver ( EXK ) expects to see another solid year in FY 2023, but the bigger news will be the much-awaited Terronera financing, Taylor Dart writes in an analysis posted recently on Seeking Alpha .

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