Business
Endeavour Silver Reports Q2 2023 Production Results; In-Line with Annual Guidance
VANCOUVER, British Columbia, July 11, 2023 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) is pleased to report
About this update from Endeavour Silver Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, July 11, 2023 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) is pleased to report second quarter 2023 production of 1,494,000 silver ounces (oz) and 9,819 gold oz, for silver equivalent1 (“AgEq”) production of 2.3 million oz. Production continues in-line with the 2023 production guidance of 8.6-9.5 million silver equivalent ounces, totaling 4.7 million AgEq oz for the six months ended June 30, 2023. “At the halfway mark for the year, we remain confident 2023 production will be within our previously stated guidance of between 8.6-9.5 million silver equivalent ounces. Aside from maintaining steady operational performance, we are extremely pleased with the recently announced development decision of Terronera,” stated Dan Dickson, Chief Executive Officer. “We’ve established a seasoned team of professionals to lead the construction, obtained a US$120 million commitment of debt financing and are gaining momentum at site. It’s an exciting time for the Company.” Q2 2023 Highlights Guanacevi Continued to Perform: Silver and gold production were in-line with plan driven by higher tonnes milled offset by lower grades than plan. Mine sequencing changes during Q2, 2023 have resulted in lower grades compared to plan and historical comparisons. It is expected that the grades will increase in Q3, 2023. Bolañitos’ Performance Remained Steady: Strong gold production, higher gold grades and increased throughput were offset by the impact of lower silver production and silver grades. Metal Sales and Inventories: Sold 1,299,672 oz silver and 9,883 oz gold during the quarter. Held 637,439 oz silver and 854 oz gold of bullion inventory and 16,213 oz silver and 665 oz gold in concentrate inventory at quarter end. Positive Construction Decision and Executed Commitment Letter for Project Financing for the Terronera Project: The Board of Directors approved the construction of an underground mine and mill at Terronera. Societe Generale and ING Bank N.V. have entered into a commitment letter for a Senior Secured Debt Facility of US$120 million. Completion of the definitive loan documentation is expected in Q3 2023 (see news release dated April 18, 2023). Construction and Development Update at Terronera: The Company has made significant progress on development activities, with long...