Endeavour Silver Reports Q2 2024 Production of 2.2 Million Silver Equivalent Ounces

Endeavour Silver Reports Q2 2024 Production of 2.2 Million Silver Equivalent Ounces

Endeavour Silver has announced its second quarter 2024 production results, revealing a total output of 1,312,572 ounces of silver and 10,549 ounces of gold, translating to 2.2 million silver equivalent ounces (AgEq). The company’s year-to-date production has reached 4.4 million AgEq ounces, aligning with the upper range of the full-year 2024 production guidance of 8.1 million to 8.8 million AgEq ounces.

CEO Dan Dickson emphasized the importance of consistent production amidst increasing capital expenditures at the Terronera project. “As construction activities peak, our business readiness strategy is crucial for a smooth transition into operations,” he stated. Endeavour remains focused on commissioning the Terronera mine in Q4 2024, with production slated for 2025.

Q2 2024 Highlights:

Guanaceví Mine Performance: The throughput and silver production at Guanaceví were consistent with plans, while higher gold grades from mined material and third-party feed led to higher-than-expected gold production.

Bolañitos Mine Results: Strong gold production continued from Q1 2024. Silver production was slightly below plan due to lower grades and recovery rates, though throughput remained steady. Similar variations in milled grades are expected for the second half of the year.

Metal Sales and Inventories: During the quarter, Endeavour sold 1,217,569 ounces of silver and 9,887 ounces of gold. By quarter-end, the company held 262,160 ounces of silver and 939 ounces of gold in bullion inventory, and 5,860 ounces of silver and 322 ounces of gold in concentrate inventory.

Sustainability Report and New Director Appointment: The company published its 2023 Sustainability Report, highlighting the progress of its 2022-2024 Sustainability Strategy. Additionally, Angela Johnson, a Professional Geologist with extensive ESG knowledge, joined the board of directors.

Terronera Project Financing: The first drawdown of USD $60 million from the Terronera Senior Secured Debt Facility was completed, with an additional USD $60 million available for future drawdowns in the second half of 2024. These funds are allocated for developing the Terronera mine. icon

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