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Endeavour Silver boosts silver output 39% in Q3, lifts production guidance

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(Kitco News) - Endeavour Silver (NYSE: EXK) (TSX: EDR) today reported production of 2,148,679 silver equivalent ounces in Q3 2021, a 22% increase compared to 1,763,074 ounces produced in Q3 2020.

The company said that its Q3 2021 consolidated silver production of 1,305,399 ounces increased by 39% compared to Q3 2020, primarily driven by a 46% increase in silver production at the Guanacevi mine offset by the suspension of operations at the El Compas mine. 

Gold production increased by 3% to 10,541 ounces with the Guanacevi mine seeing a 47% increase in silver equivalent ounces produced which was offset the suspension of operations at the El Compas mine.

Endeavour Silver added that its management has increased 2021 consolidated production guidance to 7.7 – 8.0 million oz silver equivalents to reflect continued strong performance at Guanacevi due to higher than expected grades and tonnage milled.

CEO Dan Dickson commented, "We are well positioned to exceed our original full year consolidated production guidance, which has led to the decision to formally revise our annual targets. Our 2021 business plan shows strong performance, which has resulted in higher production than last year, despite suspending operations at the small El Compas mine. This reaffirms an important year of investment into our people and culture programs to ensure the long-term sustainability of our operations."

Endeavour Silver is a mid-tier precious metals mining company that owns and operates two high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer.

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