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Endeavour Silver Announces Q1 2025 Financial Results; Earnings Call at 10AM PDT (1PM EDT) Today

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Endeavour Silver (NYSE: EXK) reported Q1 2025 financial results with production of 1.2M oz silver and 8,338 oz gold (1.9M oz AgEq). Revenue remained steady at $63.5M, supported by higher realized prices of $31.99/oz silver (+36% YoY) and $2,903/oz gold (+37% YoY). The company reported operating cash flow of $8.3M, down 18% YoY, with cash costs of $15.89/oz silver and AISC of $24.48/oz. Notable developments include: - Completed Minera Kolpa acquisition with $35M copper stream - Closed $50M bought deal equity financing - Maintained strong liquidity with $64.7M cash position - Posted net loss of $32.9M, primarily due to $31.9M loss on derivative contracts - Production decreased 17% YoY for silver and 18% for gold - Working capital declined 74% YoY to $14.8M

Endeavour Silver (NYSE: EXK) ha riportato i risultati finanziari del primo trimestre 2025 con una produzione di 1,2 milioni di once d'argento e 8.338 once d'oro (1,9 milioni di once AgEq). I ricavi sono rimasti stabili a 63,5 milioni di dollari, sostenuti da prezzi realizzati più elevati di 31,99 $/oz per l'argento (+36% su base annua) e 2.903 $/oz per l'oro (+37% su base annua). La società ha registrato un flusso di cassa operativo di 8,3 milioni di dollari, in calo del 18% su base annua, con costi in contanti di 15,89 $/oz per l'argento e AISC di 24,48 $/oz. Tra gli sviluppi più significativi si segnalano: - Completata l'acquisizione di Minera Kolpa con un flusso di rame da 35 milioni di dollari - Chiuso un finanziamento azionario tramite bought deal da 50 milioni di dollari - Mantenuta una solida liquidità con una posizione di cassa di 64,7 milioni di dollari - Registrata una perdita netta di 32,9 milioni di dollari, principalmente dovuta a una perdita di 31,9 milioni di dollari su contratti derivati - La produzione è diminuita del 17% su base annua per l'argento e del 18% per l'oro - Il capitale circolante è sceso del 74% su base annua a 14,8 milioni di dollari
Endeavour Silver (NYSE: EXK) reportó los resultados financieros del primer trimestre de 2025 con una producción de 1.2 millones de onzas de plata y 8,338 onzas de oro (1.9 millones de onzas AgEq). Los ingresos se mantuvieron estables en 63.5 millones de dólares, apoyados por precios realizados más altos de 31.99 $/oz para la plata (+36% interanual) y 2,903 $/oz para el oro (+37% interanual). La compañía reportó un flujo de caja operativo de 8.3 millones de dólares, una disminución del 18% interanual, con costos en efectivo de 15.89 $/oz para plata y un AISC de 24.48 $/oz. Entre los desarrollos destacados se incluyen: - Finalizada la adquisición de Minera Kolpa con un stream de cobre de 35 millones de dólares - Cerrada una financiación de capital mediante bought deal por 50 millones de dólares - Mantenida una fuerte liquidez con una posición de efectivo de 64.7 millones de dólares - Registrada una pérdida neta de 32.9 millones de dólares, principalmente debido a una pérdida de 31.9 millones en contratos derivados - La producción disminuyó un 17% interanual para la plata y un 18% para el oro - El capital de trabajo disminuyó un 74% interanual a 14.8 millones de dólares
Endeavour Silver (NYSE: EXK)는 2025년 1분기 재무 실적을 발표하며 은 120만 온스, 금 8,338온스 (1.9백만 온스 AgEq)를 생산했습니다. 매출은 6,350만 달러로 유지되었으며, 은 가격은 온스당 31.99달러(+36% 전년 대비), 금 가격은 온스당 2,903달러(+37% 전년 대비)로 상승했습니다. 회사는 830만 달러의 영업 현금 흐름을 보고했으며 이는 전년 대비 18% 감소한 수치입니다. 현금 비용은 온스당 은 15.89달러, AISC는 온스당 24.48달러였습니다. 주요 사항은 다음과 같습니다: - 3,500만 달러 규모의 구리 스트림을 포함한 Minera Kolpa 인수 완료 - 5,000만 달러 규모의 주식 매입 계약 완료 - 6,470만 달러의 현금 보유로 강력한 유동성 유지 - 파생상품 계약에서 3,190만 달러 손실로 인해 3,290만 달러 순손실 기록 - 은 생산량은 전년 대비 17%, 금 생산량은 18% 감소 - 운전자본은 전년 대비 74% 감소한 1,480만 달러
Endeavour Silver (NYSE : EXK) a publié ses résultats financiers du premier trimestre 2025 avec une production de 1,2 million d'onces d'argent et 8 338 onces d'or (1,9 million d'onces AgEq). Le chiffre d'affaires est resté stable à 63,5 millions de dollars, soutenu par des prix réalisés plus élevés de 31,99 $/once pour l'argent (+36 % en glissement annuel) et 2 903 $/once pour l'or (+37 % en glissement annuel). La société a déclaré un flux de trésorerie d'exploitation de 8,3 millions de dollars, en baisse de 18 % en glissement annuel, avec des coûts en espèces de 15,89 $/once pour l'argent et un AISC de 24,48 $/once. Les faits marquants incluent : - Finalisation de l'acquisition de Minera Kolpa avec un flux de cuivre de 35 millions de dollars - Clôture d'un financement par émission d'actions de 50 millions de dollars via un bought deal - Maintien d'une forte liquidité avec une position de trésorerie de 64,7 millions de dollars - Enregistrement d'une perte nette de 32,9 millions de dollars, principalement due à une perte de 31,9 millions de dollars sur des contrats dérivés - La production a diminué de 17 % pour l'argent et de 18 % pour l'or en glissement annuel - Le fonds de roulement a diminué de 74 % en glissement annuel pour atteindre 14,8 millions de dollars
Endeavour Silver (NYSE: EXK) meldete die Finanzergebnisse für das erste Quartal 2025 mit einer Produktion von 1,2 Mio. Unzen Silber und 8.338 Unzen Gold (1,9 Mio. Unzen AgEq). Der Umsatz blieb mit 63,5 Mio. USD stabil, unterstützt durch höhere realisierte Preise von 31,99 USD/Unze Silber (+36 % im Jahresvergleich) und 2.903 USD/Unze Gold (+37 % im Jahresvergleich). Das Unternehmen berichtete einen operativen Cashflow von 8,3 Mio. USD, ein Rückgang von 18 % im Jahresvergleich, mit Cash-Kosten von 15,89 USD/Unze Silber und AISC von 24,48 USD/Unze. Bedeutende Entwicklungen umfassen: - Abgeschlossenes Minera Kolpa Übernahme mit 35 Mio. USD Kupfer-Stream - Abgeschlossene Eigenkapitalfinanzierung im Rahmen eines Bought-Deal über 50 Mio. USD - Starke Liquidität mit einer Barreserve von 64,7 Mio. USD aufrechterhalten - Nettoverlust von 32,9 Mio. USD, hauptsächlich aufgrund eines Verlusts von 31,9 Mio. USD aus Derivatkontrakten - Produktion sank um 17 % bei Silber und 18 % bei Gold im Jahresvergleich - Umlaufvermögen sank um 74 % im Jahresvergleich auf 14,8 Mio. USD
Positive
  • Higher realized metal prices: Silver +36% YoY to $31.99/oz, Gold +37% YoY to $2,903/oz
  • Strong liquidity position with $64.7M cash on hand
  • Mine operating earnings increased 10% YoY to $12.8M
  • Strategic expansion through Minera Kolpa acquisition
  • Successful $50M equity financing completion
Negative
  • Net loss of $32.9M, largely due to $31.9M loss on derivative contracts
  • Production declined: Silver -17% YoY, Gold -18% YoY
  • Operating cash flow decreased 18% YoY to $8.3M
  • Working capital declined 74% YoY to $14.8M
  • Higher costs: Cash costs +20% YoY to $15.89/oz, AISC +14% YoY to $24.48/oz

Insights

Endeavour Silver posted mixed Q1 2025 results with revenue supported by higher metal prices despite production declines; rising costs and derivative losses impacted profitability.

Endeavour Silver's Q1 2025 results present a story of price-driven stability amid operational challenges. Revenue held steady at $63.5 million despite significant production declines, with silver production dropping 17% and gold production falling 18% year-over-year. This apparent contradiction is explained by the substantial increase in realized metal prices – silver prices jumped 36% to $31.99 per ounce while gold prices rose 37% to $2,903 per ounce.

On the cost side, pressures are evident. Cash costs increased 20% to $15.89 per silver ounce, while all-in sustaining costs (AISC) rose 14% to $24.48. These increases reflect both lower production volumes and direct operating cost increases of 6% per tonne. The company's mine operating cash flow before taxes did show a 7% improvement to $22.1 million, reflecting the price benefit, but operating cash flow before working capital changes declined 18% to $8.3 million.

The headline net loss of $32.9 million requires context – it includes a $31.9 million loss on derivative contracts. After adjusting for this, the company posted a small adjusted net loss of $0.2 million, compared to adjusted earnings of $0.3 million in Q1 2024. The company's liquidity position shows $64.7 million in cash, though working capital has declined 74% year-over-year to $14.8 million, reflecting ongoing investment in the Terronera project.

Strategically, Endeavour is positioning for growth with the completed acquisition of Minera Kolpa (including the Huachocolpa Uno Mine) after quarter-end, funded partly by a $50 million equity financing and a $35 million copper stream. While current operations face challenges, management is building a growth pipeline with Terronera nearing production and the Kolpa acquisition providing additional cash flow potential.

VANCOUVER, British Columbia, May 13, 2025 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) announces its financial and operating results for the three months ended March 31, 2025. All dollar amounts are in US dollars ($).

“We’re pleased to report another strong quarter, with production tracking well against plan,” said Dan Dickson, Chief Executive Officer. “Our revenue performance was bolstered by higher realized prices, highlighting the strength of our portfolio. We continue to generate solid mine operating cash flow, underpinned by disciplined cost control and a relentless focus on operational excellence. With robust liquidity, the addition of the Kolpa project, and Terronera coming online soon, we are well positioned to drive sustainable growth and deliver long-term value for our shareholders.”

Q1 2025 Highlights

  • Steady Production in Line with Plan: 1,205,793 ounces (“oz”) of silver and 8,338 oz of gold for 1.9 million oz silver equivalent (“AgEq”)(1).
  • Strong Revenue From Higher Realized Prices: $63.5 million from the sale of 1,223,684 oz of silver and 8,538 oz of gold at average realized prices of $31.99 per oz silver and $2,903 per oz gold.
  • Mine Operating Cash Flow: $8.3 million in operating cash flow before working capital changes(2), a decrease of 18% from Q1 2024.
  • Operating Costs: Cash costs(2) of $15.89 per oz payable silver and all-in sustaining costs(2) of $24.48 per oz, net of gold credits. Cash costs(2) and all-in sustaining costs were slightly below guidance primarily due to a higher gold by-product credit.
  • Strong Liquidity: Cash position of $64.7 million and working capital(2) of $14.8 million. Cash decreased from December 31, 2024, as the Company continued investing in development activities at the Terronera project (the “Terronera Project”).
  • Completed Acquisition of Minera Kolpa: Subsequent to the quarter end, the Company completed the acquisition of Compañía Minera Kolpa S.A. (“Minera Kolpa”) and its main asset, the Huachocolpa Uno Mine (the “Acquisition”) and concurrently closed the US$35 million copper stream with Versamet Royalties Corporation (See news release dated May 1, 2025 here).
  • Closed the Bought Deal Equity Financing: Subsequent to the quarter end, the Company closed a $50 million bought deal equity financing, used to fund the cash component of Minera Kolpa, (as announced in the Endeavour news release dated April 16, 2025 here).

Financial Overview

Q1 2025 Highlights
Three Months Ended March 31
20252024% Change
Production   
Silver ounces produced1,205,7931,460,006(17%)
Gold ounces produced8,33810,133(18%)
Payable silver ounces produced1,193,3581,450,308(18%)
Payable gold ounces produced8,1889,948(18%)
Silver equivalent ounces produced(1)1,872,8332,270,677(18%)
Cash costs per silver ounce(2)15.8913.1920%
Total production costs per ounce(2)24.2318.9028%
All-in sustaining costs per ounce(2)24.4821.4414%
Processed tonnes209,507221,794(6%)
Direct operating costs per tonne(2)142.72134.976%
Direct costs per tonne(2)207.27181.7714%
Financial   
Revenue ($ millions)63.563.7(0%)
Silver ounces sold1,223,6841,756,094(30%)
Gold ounces sold8,53810,880(22%)
Realized silver price per ounce31.9923.4736%
Realized gold price per ounce2,9032,11437%
Net earnings (loss) ($ millions)(32.9)(1.2)(2,656%)
Adjusted net earnings (loss)(2) ($ millions)(0.2)0.3n/a
Mine operating earnings ($ millions)12.811.710%
Mine operating cash flow before taxes ($ millions)(2)22.120.67%
Operating cash flow before working capital changes(2)8.310.2(18%)
EBITDA(2) ($ millions)(18.1)13.5(234%)
Adjusted EBITDA(2) ($ millions)15.116.1(6%)
Working capital(2) ($ millions)14.856.4(74%)
Shareholders   
Earnings (loss) per share – basic ($)(0.13)(0.01)(1,200%)
Adjusted earnings (loss) per share – basic ($)(2)(0.00)0.000%
Operating cash flow before working capital changes per share(2)0.030.04(25%)
Weighted average shares outstanding262,323,863227,503,58115%
    

(1) Silver equivalent (AgEq) is calculated using an 80:1 Ag:Au ratio.

(2) These are non-IFRS financial measures and ratios. Further details on these non-IFRS financial measures and ratios are provided at the end of this press release and in the MD&A accompanying the Company’s financial statements, which can be viewed on the Company’s website, on SEDAR+ at www.sedarplus.com and on EDGAR at www.sec.gov.

Direct operating costs per tonne in Q1 2025 increased to $142.72, 6% higher compared with $134.97 in Q1 2024 caused by 6% lower throughput while total direct operating costs remained in line with Q1 2024.

Consolidated cash costs per oz, net of by-product credits, increased 20% to $15.89 driven by 17% lower silver ounces produced and 8% higher in direct costs, offset by 8% higher by-product gold sales.

All-In-Sustaining Costs (“AISC”) in Q1 2025 was $24.48 per silver ounce, 14% higher than Q1 2024 due to the 17% lower production of silver ounces, partially offset by an 1% lower cash costs.

In Q1 2025, the Company’s mine operating earnings were $12.8 million (Q1 2024 – $11.7 million) from revenue of $63.5 million (Q1 2024 – $63.7 million) and cost of sales of $50.7 million (Q1 2024 – $52.1 million). The lower cost of sales were driven by the 30% lower ounces sold during the period compared to the same period in 2024. Realized silver price was $31.99 per oz for the quarter, 36% higher than the same period in 2024 and the realized gold price was $2,903 or 37% higher compared to Q1 2025. Higher realized prices have offset the impact of lower ounces sold on revenue. Silver and gold ounces sold decreased primarily due to the lower production of gold compared to Q1 2024.

In Q1 2025, the Company had operating earnings of $4.0 million (Q1 2024 – $3.3 million) after exploration, evaluation and development costs of $4.5 million (Q1 2024 – $4.3 million), and general and administrative expense of $4.3 million (Q1 2024 – $4.0 million). Exploration costs increased during the first quarter as the Company ramped up activities at Pitarrilla.

The loss before taxes for Q1 2025 was $27.8 million (Q1 2024 – earnings of $4.2 million) after loss on derivative contracts of $31.9 million (Q1 2024 – $nil), a foreign exchange loss of $1.0 million (Q1 2024 – gain of $1.2 million), investment and other income of $1.5 million (Q1 2024 – investments and other expense of $nil), and finance costs of $0.4 million (Q1 2024 – $0.3 million).

The Company realized a net loss for the period of $32.9 million (Q1 2024 – net loss of $1.2 million) after an income tax expense of $5.1 million (Q1 2024 – income tax expense of $5.4 million). The deferred tax recovery was realized as a result of recognizing previously unutilized losses during the period.

Adjusted net loss was $0.2 million in Q1 2025, compared to adjusted earnings of $0.3 million in Q1 2024, while adjusted earnings per share remained steady at $0.00.

This news release should be read in conjunction with the Company’s condensed consolidated interim financial statements for the period ended March 31, 2025, and associated Management’s Discussion and Analysis (“MD&A”) which are available on the Company’s website, www.edrsilver.com, on SEDAR+ at www.sedarplus.com and on EDGAR at www.sec.gov.

Conference Call

Management will host a conference call to discuss the Company’s Q1 2025 financial results today at 10:00am Pacific (PST)/ 1:00pm Eastern (EST).

Date: Tuesday, May 13, 2025
  
Time: 10:00am Pacific (PDT) / 1:00pm Eastern (EDT)
  
Telephone:Canada & US +1-833-752-3348
 International +1-647-846-2804
  
Replay:Canada/US Toll Free +1-855-669-9658
 International +1-412-317-0088
 Access code is 2198664
  

To access the replay using an international dial-in number, please click here.

The replay will also be available on the Company’s website at www.edrsilver.com.

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
Tel: (877) 685 - 9775
Email: apettit@edrsilver.com
Website: www.edrsilver.com

Endnotes

1 Silver equivalent (AgEq)

AgEq is calculated using an 80:1 Ag:Au ratio.

2 Non-IFRS and Other Financial Measures and Ratios

Certain non-IFRS and other non-financial measures and ratios are included in this press release, including cash costs per silver ounce, total production costs per ounce, all-in costs per ounce, AISC per ounce, direct operating costs per tonne, direct costs per tonne, silver co-product cash costs, gold co-product cash costs, realized silver price per ounce, realized gold price per ounce, adjusted net earnings (loss) adjusted net earnings (loss) per share, mine operating cash flow before taxes, working capital, operating cash flow before working capital adjustments, operating cash flow before working capital changes per share, earnings before interest, taxes, depreciation and amortization (“EBITDA”), adjusted EBITDA per share, sustaining and growth capital and adjusted net earnings (loss).

Please see the March 31, 2025 MD&A for explanations and discussion of these non-IFRS and other non-financial measures and ratios. The Company believes that these measures and ratios, in addition to conventional measures and ratios prepared in accordance with International Financial Reporting Standards (“IFRS”), provide management and investors an improved ability to evaluate the underlying performance of the Company. The non-IFRS and other non-financial measures and ratios are intended to provide additional information and should not be considered in isolation or as a substitute for measures or ratios of performance prepared in accordance with IFRS. These measures and ratios do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers. Certain additional disclosures for these non-IFRS measures have been incorporated by reference and can be found in the section “Non-IFRS Measures” in the March 31, 2025 MD&A available on SEDAR at www.sedar.com.

Reconciliation of Working Capital

Expressed in thousands of US dollars As at March 31, 2025
As at December 31, 2024
Current assets $120,626$157,647
Current liabilities 105,82778,866
Working capital $14,799$78,781


Reconciliation of Adjusted Net Earnings (Loss) and Adjusted Net Earnings (Loss) Per Share
           

Expressed in thousands of US dollarsThree Months Ended March 31
(except for share numbers and per share amounts)20252024
Net earnings (loss) for the period per financial statements($32,907)($1,194)
Unrealized foreign exchange (gain) loss275136
(Gain) loss on derivatives31,931-
Change in fair value of investments(143)861
Change in fair value of cash settled DSUs638465
Adjusted net earnings (loss)($206)$268
Basic weighted average share outstanding262,323,863227,503,581
Adjusted net earnings (loss) per share($0.00)$0.00


Reconciliation of Mine Operating Cash Flow Before Taxes

Expressed in thousands of US dollarsThree Months Ended March 31
 20252024
Mine operating earnings per financial statements$12,842$11,656
Share-based compensation3479
Depreciation9,2068,877
Mine operating cash flow before taxes$22,082$20,612


Reconciliation of Operating Cash Flow Before Working Capital Changes and Operating Cash Flow Before Working Capital Changes Per Share

Expressed in thousands of US dollarsThree Months Ended March 31
(except for per share amounts)2025
2024
Cash from (used in) operating activities per financial statements$3,363$4,583
Net changes in non-cash working capital per financial statements(4,985)(5,651)
Operating cash flow before working capital changes$8,348$10,234
Basic weighted average shares outstanding262,323,863227,503,581
Operating cash flow before working capital changes per share$0.03$0.04


Reconciliation of EBITDA and Adjusted EBITDA

Expressed in thousands of US dollarsThree Months Ended March 31
 20252024
Net earnings (loss) for the period per financial statements($32,907)($1,194)
Depreciation – cost of sales9,2068,877
Depreciation – exploration, evaluation and development250159
Depreciation – general & administration10599
Finance costs184135
Current income tax expense (recovery)5,2795,667
Deferred income tax expense (recovery)(214)(233)
EBITDA($18,097)$13,510
Share based compensation5161,170
Unrealized foreign exchange (Gain) loss275136
(Gain) loss on derivatives31,931-
Change in fair value of investments(143)861
Change in fair value of cash settled DSUs638465
Adjusted EBITDA$15,120$16,142
Basic weighted average shares outstanding262,323,863227,503,581
Adjusted EBITDA per share$0.06$0.07


Reconciliation of Cash Cost Per Silver Ounce, Total Production Costs Per Ounce, Direct Operating Costs Per Tonne, Direct Costs Per Tonne

Expressed in thousands of US dollars
Three months ended
March 31, 2025		Three months ended
March 31, 2024
GuanacevíBolañitosTotalGuanacevíBolañitosTotal
Direct production costs per financial statements$25,444$9,729$35,173$26,886$9,819$36,705
Purchase of the third-party material(5,866)-(5,866)(2,392)-(2,392)
Smelting and refining costs included in revenue-436436-493493
Opening finished goods(5,448)(485)(5,933)(7,137)(699)(7,836)
Closing finished goods4,7631,3286,0912,3146512,965
Direct operating costs18,89311,00829,90119,67110,26429,935
Purchase of the third-party material5,866-5,8662,392-2,392
Royalties6,0661776,2436,332766,408
Special mining duty (1)9844311,4151,521601,581
Direct costs31,80911,61643,42529,91610,40040,316
By-product gold sales(12,791)(11,992)(24,783)(10,731)(12,265)(22,996)
Opening gold inventory fair market value3,1857723,9572,9096193,528
Closing gold inventory fair market value(2,232)(1,410)(3,642)(871)(851)(1,722)
Cash costs net of by-product19,971(1,014)18,95721,223(2,097)19,126
Depreciation6,5692,6379,2065,8153,0628,877
Share-based compensation201434621779
Opening finished goods depreciation(1,188)(92)(1,280)(1,459)(197)(1,656)
Closing finished goods depreciation1,6183842,002770219989
Total production costs$26,990$1,929$28,919$26,411$1,004$27,415


 Three months ended March 31, 2025Three months ended March 31, 2024
GuanacevíBolañitosTotalGuanacevíBolañitosTotal
Throughput tonnes102,438107,069209,507115,004106,790221,794
Payable silver ounces1,012,281181,0771,193,3581,331,735118,5731,450,308
       
Cash costs per silver ounce$19.73($5.60)$15.89$15.94($17.69)$13.19
Total production costs per ounce$26.66$10.65$24.23$19.83$8.47$18.90
Direct operating costs per tonne$184.43$102.81$142.72$171.05$96.11$134.97
Direct costs per tonne$310.52$108.49$207.27$260.13$97.39$181.77


(1) Special mining duty is an EBITDA royalty tax presented as a current income tax in accordance with IFRS.

Reconciliation of All-In Costs Per Ounce and AISC per ounce

Expressed in thousands of US dollarsThree Months Ended March 31, 2025Three Months Ended March 31, 2024
 GuanacevíBolañitosTotalGuanacevíBolañitosTotal
Cash costs net of by-product$19,971($1,014)$18,957$21,223($2,097)$19,126
Operations share-based compensation201434621779
Corporate general and administrative2,6761,0803,7562,2048013,005
Corporate share-based compensation294119413690250940
Reclamation - amortization/accretion1488523310277179
Mine site expensed exploration270174444122314436
Equipment loan payments000128220348
Capital expenditures sustaining3,4461,9255,3714,7162,2666,982
All-In-Sustaining Costs$26,826$2,382$29,208$29,247$1,848$31,095
Growth exploration, evaluation and development  3,775  3,524
Growth capital expenditures  36,214  37,905
All-In-Costs  $69,197  $72,524


 Three Months Ended March 31, 2025Three Months Ended March 31, 2024
 GuanacevíBolañitosTotalGuanacevíBolañitosTotal
Throughput tonnes102,438107,069209,507115,004106,790221,794
Payable silver ounces1,012,281181,0771,193,3581,331,735118,5731,450,308
Silver equivalent production (ounces)1,334,447538,3861,872,8331,665,648605,0282,270,677
       
All-in-Sustaining cost per ounce$26.50$13.16$24.48$21.96$15.59$21.44


Reconciliation of Sustaining Capital and Growth Capital

Expressed in thousands of US dollars
Three Months Ended March 31
20252024
Capital expenditures sustaining$5,371$6,982
Growth capital expenditures36,21437,905
Property, plant and equipment expenditures per Consolidated Statement of Cash Flows$41,585$44,887


Expressed in thousands of US dollars
Three Months Ended March 31
20252024
Mine site expensed exploration$444$436
Growth exploration, evaluation and development3,7753,524
Total exploration, evaluation and development4,2193,960
Exploration, evaluation and development depreciation250159
Exploration, evaluation and development share-based compensation69151
Exploration, evaluation and development expense$4,538$4,270


Reconciliation of Realized Silver Price Per Ounce and Realized Gold Price Per Ounce

Expressed in thousands of US dollars
Three Months Ended March 31
20252024
Gross silver sales$39,151$41,222
Silver ounces sold1,223,6841,756,094
Realized silver price per ounce$31.99$23.47


Expressed in thousands of US dollars
Three Months Ended March 31
20252024
Gross gold sales$24,783$22,996
Gold ounces sold8,53810,880
Realized gold price per ounce$2,903$2,114

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 projectfuture payments in connection with acquisition; the Company’s ability to further drawdown on the Debt Facility, estimated project economics, Terronera’s forecasted operations, costs and expenditures,; the Company’s exploration programs, extensions of mineralisation and publishing of future resource estimates; and the timing and results of various related activities, Endeavour’s anticipated performance in 2024 including changes in mining operations and forecasts of production levels, anticipated production costs and all-in sustaining costs 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 unexpected changes in production and costs guidance; the ongoing effects of inflation and supply chain issues on minethe Terronera Project economics; fluctuations in the prices of silver and gold; fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar, Peruvian sol, and U.S. dollar); fluctuations in interest rates; effects of inflation; changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada, Peru 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 inputs and labour; the speculative nature of mineral exploration and development; diminishing quantities or grades of mineral reserves as properties are mined; r risks in obtaining necessary licenses and permits; satisfaction of conditions precedent to drawdown under the Debt Facility; the ongoing effects of inflation and supply chain issues on the Terronera Project economics; fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the 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 and the Prospectus Supplement Dated April 3, 2025 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 continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, forecasted mine economics, 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 were Endeavour Silver's (EXK) Q1 2025 production numbers?

Endeavour Silver produced 1,205,793 ounces of silver and 8,338 ounces of gold in Q1 2025, totaling 1.9 million silver equivalent ounces.

What was EXK's revenue and realized metal prices in Q1 2025?

Revenue was $63.5M with realized prices of $31.99 per silver ounce (+36% YoY) and $2,903 per gold ounce (+37% YoY).

Why did Endeavour Silver report a net loss in Q1 2025?

The company reported a $32.9M net loss primarily due to a $31.9M loss on derivative contracts.

What were Endeavour Silver's cash costs and AISC in Q1 2025?

Cash costs were $15.89 per silver ounce (+20% YoY) and all-in sustaining costs (AISC) were $24.48 per ounce (+14% YoY).

What major corporate developments did EXK announce in Q1 2025?

EXK completed the Minera Kolpa acquisition with a $35M copper stream and closed a $50M bought deal equity financing.
Stock EXK logo
Endeavour Sil

NYSE:EXK

EXK Rankings

#2514 Ranked by Market Cap
N/A Ranked by Dividends

EXK Latest News

May 6, 2025
Endeavour Silver has Commenced Wet Commissioning Activities at its Terronera Project
May 1, 2025
Endeavour Silver Completes Acquisition of Minera Kolpa
Apr 16, 2025
Endeavour Silver Corp. Announces Full Exercise and Closing of Over-Allotment Option
Apr 9, 2025
Endeavour Silver Produces 1,205,793 Oz Silver and 8,338 Oz Gold (1.9 Million Silver Equivalent Oz) in Q1 2025
Apr 8, 2025
Endeavour Silver Corp. Closes US$45 Million Bought Deal Financing

EXK Stock Data

949.47M
274.54M
0.16%
44.73%
5.48%
Silver
Basic Materials
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Canada
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