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Endeavour Silver Provides 2024 Guidance; Production expected at 5.3 – 5.8 Million oz Silver and 34,000-38,000 oz Gold for 8.1- 8.8 Million oz Silver Equivalent ¹
VANCOUVER, British Columbia, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) announces its consoli
About this update from Endeavour Silver Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Jan. 11, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) announces its consolidated production and cost guidance, and its capital and exploration budgets for 2024. The Company will provide 2024 guidance on activities at the Terronera project in a separate news release. All dollar amounts are in US dollars (US$). 2024 Production and Cost Guidance Highlights In 2024, silver production is expected to range from 5.3 to 5.8 million ounces (oz) and gold production is expected to be between 34,000 oz and 38,000 oz. Silver equivalent production is forecast to total between 8.1 million and 8.8 million oz1. Consolidated cash costs2 and all-in sustaining costs2 (“AISC”) in 2024 are estimated to be $14.00-$15.00 per oz silver and $22.00-23.00 per oz silver, respectively, net of gold by-product credits. Consolidated cash costs on a per ounce basis are expected to be slightly higher than 2023, primarily due to a reduction in gold production and a lower estimated gold price, and AISC slightly lower as reduced sustaining capital and comparable exploration and general and administrative costs will be allocated over similar silver production. “While we expect 2024 production levels aligning with those of 2023, ongoing challenges include escalating costs,” commented Dan Dickson, Endeavour’s CEO. “The influence of a stronger local currency, coupled with inflationary pressures on essential inputs like labor, explosives, energy, and steel prices, continue to impact the bottom line. While we pursue opportunities to mitigate cost pressures in all areas, maintaining and enhancing safety at our operations will always be our focus.” Mr. Dickson added, “2024 will be a very important year as we complete the build of our Terronera Project and begin transitioning to a premier senior sliver producer. Our commitment to creating shareholder value will continue by way of delivering a substantial decrease in costs and a path to margin expansion. We are laser-focused on completing construction at Terronera this year which should result in a significant increase in production, a notable reduction in costs and provide substantial free cash flow in future years.” 2024 Guidance Summary (3) Guanaceví Bolañitos Consolidated Tonnes per day Tpd 1,150 - 1,250 1,150 - 1,250 2,300...