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Endeavour Silver Ups 2013 Gold, Silver Production Guidance

Monday September 16, 2013 11:07 AM

Endeavour Silver Corp. (TSX: EDR)(NYSE: EXK) raised its gold and silver production guidance for 2013 to 6 million ounces of silver, up 20% from previous guidance of 5 million to 5.3 million ounces, as well as 68,000 ounces of gold, up 48% from previous guidance of 46,000-49,000 ounces. "Our Bola├▒itos mine has outperformed expectations this year and will produce nearly 1 million ounces more silver and 22,000 ounces more gold than originally planned, primarily due to production grades being higher than the reserve grades and higher tonnage throughputs thanks to the prolonged availability of the leased Las Torres plant near El Cubo,” says Bradford Cooke, chief executive officer of Endeavour Silver. On a silver equivalent basis, using a conversion ratio of 60:1, 2013 production is now forecast to total approximately 10 million ounces, up 37% from previous guidance of 7.3-7.8 million ounces, and a 45% increase over 2012, the company says. Endeavour produced roughly 3 million ounces of silver and approximately 35,000 ounces of gold in the first half of 2013.

By Alex L├ętourneau of Kitco News aletourneau@kitco.com

 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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