EDR:CC - Endeavour Silver tops full-year production target on Guanacevi strength

Endeavour Silver ( NYSE: EXK ) said Tuesday that FY 2022 production topped the upper end of its guidance range , totaling 9M silver equivalent ounces to easily beat its upwardly revised target of 7.6M-8M oz, as its Guanacevi operation in Mexico delivered well above the miner's expectations.

Endeavour ( EXK ) said production for the year included 6M oz of silver and 37.5K oz of gold, which it exceeded the upper range of its guidance by 17% and 4%, respectively.

Q4 consolidated silver production jumped 27% Y/Y to 1.8M oz, which Endeavour ( EXK ) said was driven primarily by higher output at the Guanacevi mine, while Q4 consolidated gold production rose 10% Y/Y to 10,370 oz, due mostly to higher gold grades mined at Guanacevi that more than offset reduced amounts of gold produced from the Bolanitos mine in Mexico.

Guanacevi's Q4 throughput was 10% higher than the year-ago period, with silver grades 23% higher and gold grades 19% higher, while Bolanitos's Q4 throughput was consistent with a year earlier, with silver grades 4% higher and gold grades 6% lower.

The company also said that financial due diligence continues on financing the Terronera project in Mexico, planning to make a formal construction decision in the coming months.

Endeavour Silver ( EXK ) reported a Q3 loss of $0.02/share on revenues of $39M .

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