(Kitco News) - Endeavour Silver (TSX: EDR) announced Tuesday it produced 2,193,968 silver equivalent ounces (AgEq oz) in Q3 2022, up 2% over Q3 2021, adding that its annual production is trending towards the upper end of the guidance range for the year, forecasted at 7.6 to 8.0 million AgEq oz.
The company said that its consolidated silver production increased 12% to 1,458,448 ounces in Q3 2022 compared to Q3 2021, primarily driven by increased silver production at the Guanacevi mine.
The company’s gold production decreased by 13% to 9,194 ounces primarily due to lower gold grades mined at the Bolañitos mine. The increased gold production from Guanacevi offset the gold produced from the El Compas mine, which suspended operations in Q3 2021, it noted.
“The ore grades processed at Guanacevi continue to exceed plan, which has positioned the company to meet the upper end of our improved production guidance. The outperformance is well timed, as we continue to face financial pressure from lower metal prices and inflationary effects on inputs,” stated CEO Dan Dickson. “We announced impressive drill results from our exploration program in the quarter at Guanacevi, where we are extending and defining the vertical extents of the Porvenir Dos orebody, which is near historic working areas.”
Endeavour Silver is a mid-tier precious metals mining company that operates two high-grade underground silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision, pending financing and final permits and exploring its portfolio of exploration and development projects in Mexico, Chile and the United States.
