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Endeavour Silver Provides 2023 Guidance; Production expected at 5.7 – 6.3 Million oz Silver and 36,000 – 40,000 oz Gold for 8.6 – 9.5 Million oz Silver Equivalent ¹
VANCOUVER, British Columbia, Jan. 12, 2023 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) is pleased to announc
About this update from Endeavour Silver Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 12, 2023 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) is pleased to announce its consolidated production and cost guidance and its capital and exploration budgets for 2023. All dollar amounts are in US dollars (US$). 2023 Production and Cost Guidance Highlights In 2023, silver production is expected to range from 5.7 to 6.3 million ounces (oz) and gold production is expected to be between 36,000 oz and 40,000 oz. Silver equivalent production is forecasted to total between 8.6 million and 9.5 million oz at an 80:1 silver:gold ratio. Consolidated cash costs2 and all-in sustaining costs2 (“AISC”) in 2023 are estimated to be $10.00-$11.00 per oz silver and $19.00-20.00 per oz silver, respectively, net of gold by-product credits. Consolidated cash costs on a per ounce basis are expected to be similar to 2022 and AISC slightly lower as comparable sustaining capital, exploration and general and administrative costs will be allocated over increased production. “Our 2023 guidance marks our fourth consecutive year of production growth and a 25% increase from the mid-point of last year’s original forecast. Our ongoing operational success is a product of culture and values promoted throughout the Company for safe and sustainable operations, together with improved mineral quality at Guanaceví,” stated Dan Dickson, Endeavour’s CEO. “The combination of higher consolidated throughput and produced ounces allows for similar projected unit costs, amidst an inflationary-challenged landscape. While we continue to see cost pressures in explosives, energy prices and steel, we have also identified efficiencies to mitigate costs.” Mr. Dickson added, “As we look to the year ahead, our commitment to creating shareholder value will continue by way of organic growth and continued strong operating performance. We are in an enviable position with one development project and multiple advanced exploration projects that provide considerable upside for value creation both near and long term. A development decision on Terronera is expected soon and will redefine our cost profile when production commences. The planned advancement of the Pitarrilla and Parral assets will provide further similar opportunities for growth and value.” 2023 Guidance Summary Guanaceví Bolañ...