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Endeavour Silver Produces 1,073,724 oz Silver and 11,166 oz Gold for 2.0 Million oz Silver Equivalents in Q2, 2021
VANCOUVER, British Columbia, July 08, 2021 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) reports production of 1,073,724 silver ounces (oz) a
About this update from Endeavour Silver Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, July 08, 2021 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) reports production of 1,073,724 silver ounces (oz) and 11,166 gold oz in Q2, 2021, for silver equivalent (“AgEq”) production of 2.0 million oz at an 80:1 silver:gold ratio. Production continues to outpace the 2021 production guidance of 6.1-7.1 million silver equivalent ounces, totaling 3.9 million AgEq oz for the 6 months ended June 30, 2021. Quarterly production increased significantly compared to Q2, 2020, when mining operations were temporarily suspended as mandated by the Mexican government to halt the spread of the COVID-19 pandemic from April 2020 to late May 2020. 2021 Second Quarter Highlights Consolidated Production Ahead of Plan: Silver equivalent production at each mine is on track to meet or exceed 2021 production plans. Guanacevi Production Ahead of Plan: Higher throughput and higher grades resulted in production exceeding plan during the quarter and ahead of the annual plan. Bolanitos Production on Plan: Processed tonnes were ahead of plan, offset by slightly lower ore grades than planned during the quarter. El Compas Production on Plan: Processed tonnes were ahead of plan, offset by slightly lower ore grades than planned during the quarter. Metal Sales and Inventories: Sold 1,120,266 oz silver and 9,810 oz gold, held 459,659 oz silver and 1,891 oz gold of bullion inventory and 12,159 oz silver and 944 oz gold in concentrate inventory. Management withheld metal from sale during the price correction over last two weeks of June and plans to sell the withheld metal inventory in anticipation of a precious metal prices rebound in 2021. Sold the El Cubo Assets: Completed the sale of the El Cubo mine in Guanajuato, Mexico to Guanajuato Silver (Formerly named VanGold Mining Corp) for $15 million in cash and share payments, with up to $3 million in contingent payments. Seamless Management Succession Plan: Bradford Cooke stepped down as CEO and assumed the role of Executive Chair of the Company following the AGM on May 12, 2021. Dan Dickson assumed the role of CEO and Christine West was promoted to CFO. Delivered Positive Brownfields Exploration Results at Guanacevi and Bolanitos: Drilling continued to intersect high-grade silver-gold mineralization in the Santa Cruz vein at Guanacevi, and in the Medallito and B...