Endeavour Silver Amends and Restates Project Loan Credit Facility to Include Additional Credit Facility of US$15 Million
Endeavour Silver (NYSE: EXK) has successfully amended its senior secured debt facility through its subsidiary Terronera Precious Metals. The Credit Facility, originally announced in October 2023, has been increased by $15 million to reach $135 million in total principal amount.
The expanded facility will support the commissioning of the Terronera Project in Jalisco, Mexico and provide working capital. As part of the agreement, the company has implemented zero-cost collars to manage silver price exposure, protecting a downside of $31.00 per ounce while allowing upside participation up to $42.00 per ounce for approximately 968,000 silver ounces over the next twelve months.
Endeavour Silver (NYSE: EXK) ha modificato con successo la sua linea di credito senior garantita tramite la sua controllata Terronera Precious Metals. La linea di credito, annunciata originariamente nell'ottobre 2023, è stata aumentata di 15 milioni di dollari, raggiungendo un importo totale di 135 milioni di dollari.
La linea ampliata sosterrà l'avvio del Progetto Terronera a Jalisco, Messico e fornirà capitale operativo. Nell'ambito dell'accordo, la società ha implementato collar a costo zero per gestire l'esposizione al prezzo dell'argento, proteggendo un valore minimo di 31,00 dollari per oncia e consentendo una partecipazione al rialzo fino a 42,00 dollari per oncia su circa 968.000 once d'argento nei prossimi dodici mesi.
Endeavour Silver (NYSE: EXK) ha modificado con éxito su línea de crédito senior garantizada a través de su subsidiaria Terronera Precious Metals. La línea de crédito, anunciada originalmente en octubre de 2023, se ha incrementado en 15 millones de dólares, alcanzando un monto total de 135 millones de dólares.
La línea ampliada apoyará la puesta en marcha del Proyecto Terronera en Jalisco, México y proporcionará capital de trabajo. Como parte del acuerdo, la compañía ha implementado collars sin costo para gestionar la exposición al precio de la plata, protegiendo un mínimo de 31,00 dólares por onza y permitiendo participación al alza hasta 42,00 dólares por onza para aproximadamente 968,000 onzas de plata durante los próximos doce meses.
Endeavour Silver (NYSE: EXK)는 자회사 Terronera Precious Metals를 통해 선순위 담보 부채 시설을 성공적으로 수정했습니다. 2023년 10월에 처음 발표된 이 신용 시설은 1,500만 달러 증액되어 총 원금이 1억 3,500만 달러에 이르게 되었습니다.
확대된 시설은 멕시코 할리스코의 Terronera 프로젝트 가동을 지원하고 운전자본을 제공합니다. 계약의 일환으로 회사는 은 가격 노출을 관리하기 위해 비용 없는 콜라를 도입하여, 향후 12개월 동안 약 968,000 온스의 은에 대해 온스당 31.00달러의 하방 보호와 온스당 42.00달러까지의 상승 참여를 가능하게 했습니다.
Endeavour Silver (NYSE : EXK) a réussi à modifier sa facilité de dette senior garantie via sa filiale Terronera Precious Metals. La facilité de crédit, initialement annoncée en octobre 2023, a été augmentée de 15 millions de dollars pour atteindre un montant principal total de 135 millions de dollars.
Cette facilité élargie soutiendra la mise en service du projet Terronera à Jalisco, Mexique et fournira des fonds de roulement. Dans le cadre de l'accord, la société a mis en place des collars sans coût pour gérer l'exposition au prix de l'argent, protégeant un plancher de 31,00 dollars par once tout en permettant une participation à la hausse jusqu'à 42,00 dollars par once pour environ 968 000 onces d'argent sur les douze prochains mois.
Endeavour Silver (NYSE: EXK) hat erfolgreich seine vorrangige besicherte Kreditfazilität über seine Tochtergesellschaft Terronera Precious Metals angepasst. Die ursprünglich im Oktober 2023 angekündigte Kreditfazilität wurde um 15 Millionen US-Dollar auf insgesamt 135 Millionen US-Dollar erhöht.
Die erweiterte Fazilität wird die Inbetriebnahme des Terronera-Projekts in Jalisco, Mexiko unterstützen und Betriebskapital bereitstellen. Im Rahmen der Vereinbarung hat das Unternehmen kostenfreie Collar-Optionen eingeführt, um die Silberpreisrisiken zu steuern, und schützt einen Mindestpreis von 31,00 US-Dollar pro Unze, während es eine Aufwärtsteilnahme bis zu 42,00 US-Dollar pro Unze für etwa 968.000 Silberunzen in den nächsten zwölf Monaten ermöglicht.
- Credit Facility increased by $15 million to $135 million total
- Strategic price protection through zero-cost collars for 968,000 silver ounces
- Terronera Project commissioning proceeding according to plan
- Downside protection at $31.00 per silver ounce with upside potential to $42.00
- Additional debt burden with the $15 million facility increase
- Limited upside potential on silver prices capped at $42.00 per ounce for hedged production
VANCOUVER, British Columbia, June 24, 2025 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) is pleased to announce that its wholly-owned subsidiary, Terronera Precious Metals, S.A. de C.V. (Terronera) has amended and restated the previously announced senior secured debt facility (the “Credit Facility”) with ING Capital LLC (together with ING Bank N.V.) and Societe Generale acting as Joint Lead Arrangers. The Credit Facility was announced by press release on October 10, 2023.
Among other things, the Credit Facility was amended and restated to increase the principal amount of up to
Proceeds from the Credit Facility will be used towards completing commissioning at the Company’s Terronera Project in Jalisco state, Mexico and for general working capital purposes. All references to dollars ($) in this news release are in United States dollars.
As a condition to funding and a risk management strategy, Terronera has entered into zero cost collars to partially manage silver price exposure and cash flows over the next twelve months. With these zero cost collars, Terronera has protected the downside at
Terronera commissioning activities are proceeding as planned and remain aligned with management’s expectations. The Company will provide an update as it approaches the commencement of commercial production.
About Endeavour Silver – Endeavour is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and Peru, and the development of the new cornerstone mine in Jalisco state, the company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer.
Contact Information
Allison Pettit
Director, Investor Relations
Email: apettit@edrsilver.com
Website: www.edrsilver.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the development and financing of the Terronera Project, including anticipated timing of the Project, the Company’s plans and expectations regarding the Project, the Credit Facility and anticipated timing of and completion of conditions precedent thereof, the silver hedging program and the timing and results of various activities. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the completion of conditions precedent to drawdown under the Credit Facility and the Company’s ability to successfully drawdown under the Credit Facility; the ongoing effects of inflation and supply chain issues on Project economics; changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining (including, but not limited to environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding); inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining input and labour; the speculative nature of mineral exploration and development; risks in obtaining necessary licenses and permits; fluctuations in the prices of silver and gold; fluctuations in the currency markets (particularly the Peruvian sol, Mexican peso, Chilean peso, Canadian dollar and U.S. dollar) and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the ability of the Company to successfully drawdown under the Credit Facility, the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, the Project’s forecasted economics as of 2025, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward- looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
FAQ
What is the new total amount of Endeavour Silver's (EXK) Credit Facility?
How much silver production has Endeavour Silver (EXK) hedged with zero-cost collars?
What are the price protection levels for EXK's silver hedging strategy?
What will Endeavour Silver use the expanded Credit Facility for?
How is the commissioning of EXK's Terronera Project progressing?
