- Endeavour Silver Corp. (EDR) reported its 2022 production surpassed its estimate by 21 per cent for its Guanaceví and Bolañitos mines in Mexico
- Its yearly production included 5.96 million silver ounces, and 37,548 gold ounces, up by 17 and 4 per cent
- Additionally, Endeavour Silver reported it sold most of its withheld metal inventory when silver prices rebounded during the final quarter of 2022
- It also provided an update on its operations for the Terronera Project, where construction has been advanced
- The Pitarrilla Project’s mineral resource estimate was published
- Endeavour Silver Corp. (EDR) is up 3.97 per cent, trading at $4.71 per share as of 1:02 p.m. EST
Endeavour Silver Corp. (EDR) reported its 2022 silver-gold production surpassed its estimate by 21 per cent for its Guanaceví and Bolañitos mines in Mexico.
According to the company, its yearly production included 5.96 million silver ounces, and 37,548 gold ounces, up by 17 and 4 per cent. Silver equivalent production came to nine million ounces, whereas the original production guidance was between 7.6 million and eight million ounces of silver equivalent.
Dan Dickson, CEO of Endeavour Silver, commented,
“Fourth quarter throughput and grades at Guanaceví exceeded plan, contributing to the significant out-performance of the Guanaceví operations during 2022.”
Additionally, Endeavour Silver reported it sold most of its withheld metal inventory when silver prices rebounded during the final quarter of 2022.
The company also provided an update on its operations for the Terronera and Pitarrilla projects. Terronera’s pre-development activities have advanced, including the onsite delivery of mobile mining equipment, placing equipment purchases, and assembly of initial infrastructure.
The company plans to make a formal construction decision in the next few months once it has received a financing package and amended permits.
The company’s Pitarrilla Project mineral resource estimate was also published. The indicated resources totalled 158.6 million tonnes, with 491.6 million silver ounces grading 96.4 grams per tonne, 1.1 billion pounds of lead grading 0.31 per cent, and 2.6 billion pounds of zinc grading 0.74 per cent.
The inferred resources came to 35.4 million tonnes containing 99.4 million ounces of silver grading 87.2 grams per tonne, 281 million pounds of lead grading 0.36 per cent, and 661 million pounds of zinc grading 0.85 per cent.
Endeavour Silver Corp. (EDR) is up 3.97 per cent, trading at $4.71 per share as of 1:02 p.m. EST.