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Endeavour Silver increases silver and gold production in Q2, reaffirms 2023 guidance

Kitco Media
By Vladimir Basov
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Updated
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(Kitco News) - Endeavour Silver (NYSE: EXK) (TSX: EDR) today reported Q2 2023 production of 1,494,000 silver ounces and 9,819 gold ounces, for silver equivalent production of 2,279,520 ounces, up 8% over Q2 2022.

The company said that its consolidated silver production increased 10% to 1,494,000 ounces in Q2 2023 compared to Q2 2022, primarily driven by increased silver production at the Guanacevi mine due to higher throughput and recoveries offset by a reduction in silver grade.

The company’s gold production increased by 6% y-o-y to 9,819 ounces in Q2 2023 primarily due to increased throughput at both the Guanacevi and Bolanitos mines and higher gold grades mined at the Bolañitos mine.

Importantly, Endeavour added that production continues in-line with the 2023 production guidance of 8.6-9.5 million silver equivalent ounces, totaling 4.7 million silver equivalent ounces for the six months ended June 30, 2023.

CEO Dan Dickson stated, “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.

“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.”

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

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Kitco Media

Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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