Endeavour Silver Completes Sale of Bolañitos Mine
Rhea-AI Summary
Endeavour Silver (NYSE: EXK) completed the sale of the Bolañitos silver‑gold mine to Guanajuato Silver on Jan 15, 2026 for total upfront consideration of US$40 million (US$30M cash and US$10M in Guanajuato shares at a deemed US$0.2709413 per share).
Endeavour is also eligible for two contingent payments of US$5M each upon production of 2M and 4M silver‑equivalent ounces, each paid 50% cash/50% shares subject to a 9.9% maximum ownership cap. Transaction includes 12‑month voting restrictions and staged share transfer limitations on the Base Shares.
Positive
- Upfront proceeds of US$40 million received
- US$30M cash improves near‑term liquidity
- US$10M equity aligns interests with Guanajuato Silver
- Up to US$10M additional contingent payments tied to production
Negative
- Contingent payments may dilute holders via share issuance
- Contingent share issuances capped at 9.9%, remainder paid in cash
- Company agreed to 12‑month voting restrictions on Guanajuato shares
- Transfer restrictions on Base Shares extend up to 3 years
News Market Reaction
On the day this news was published, EXK gained 3.21%, reflecting a moderate positive market reaction. Argus tracked a trough of -4.1% from its starting point during tracking. Our momentum scanner triggered 29 alerts that day, indicating elevated trading interest and price volatility. This price movement added approximately $101M to the company's valuation, bringing the market cap to $3.24B at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
EXK gained 0.45% while key silver peers were mixed: SVM +4.29%, AG +6.1%, MAG -1.96%, CGAU +1.36%, ERO -0.07%. EXK’s smaller move suggests a more company-specific tone.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 08 | Production & financing | Positive | -3.0% | Strong 2025 production growth, Terronera ramp-up and convertible notes closing. |
| Dec 04 | Convertible notes closed | Negative | -2.6% | Completion of US$350M low-coupon convertible senior notes financing. |
| Dec 01 | Notes pricing | Negative | -5.3% | Pricing of up to US$350M convertible notes at 0.25% and premium conversion. |
| Dec 01 | Notes launch | Negative | -5.3% | Launch of US$300M convertible notes offering with additional option. |
| Nov 24 | Bolañitos sale deal | Positive | +6.1% | Definitive agreement to sell Bolañitos mine for up to US$50M. |
Recent news shows generally aligned reactions: financing announcements drew declines, while the initial Bolañitos sale agreement saw a positive move. One major operational update with strong growth drew a negative reaction, indicating occasional disconnect between fundamentals and price.
In the last few months, Endeavour Silver reported substantial 2025 output of 6,486,661 oz silver and 37,164 oz gold, totaling 11.2 million AgEq oz, alongside Terronera reaching commercial production on Oct 1, 2025. The company executed a US$350 million convertible senior notes financing, with pricing around US$12.455 per share, to repay its credit facility and advance Pitarrilla. It also signed, then now completed, the Bolañitos sale for up to US$50 million. Historically, the Bolañitos agreement news on Nov 24, 2025 was followed by a 6.1% gain, contrasting with negative reactions around the financing steps.
Market Pulse Summary
This announcement confirms closing of the Bolañitos Mine divestiture for US$40 million upfront plus contingent payments tied to 2 and 4 million silver-equivalent ounces. It follows prior disclosure of the agreement in late 2025 and sits alongside recent financing moves, including a US$350 million convertible notes issue. Investors may track execution of the company’s core-asset strategy, use of sale proceeds, and future production updates to gauge how the portfolio transition translates into operating and financial performance.
Key Terms
volume-weighted average price financial
10-day vwap financial
tsx venture exchange financial
contingent payments financial
investor rights agreement financial
maximum ownership percentage financial
AI-generated analysis. Not financial advice.
VANCOUVER, British Columbia, Jan. 15, 2026 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) is pleased to announce the completion of the sale of the Bolañitos silver and gold mine (the “Bolañitos Mine”) to Guanajuato Silver Company Ltd. (“Guanajuato Silver”) (TSXV: GSVR) pursuant to a share purchase agreement (the “Agreement”) previously announced on November 24, 2025 (the “Sale”).
“The sale of the Bolañitos Mine marks an exciting milestone for Endeavour as we continue to focus our resources on our core silver assets and strategic growth,” said Dan Dickson, Chief Executive Officer. “We are pleased that Guanajuato Silver is well-positioned to further develop Bolañitos, and we look forward to the continued success of both companies as we advance sustainable mining in the region.”
Transaction Details
Pursuant to the Agreement, Guanajuato Silver acquired all the issued and outstanding shares of Mina Bolañitos, S.A. de C.V. (“Mina Bolañitos”) from affiliates of the Company. Mina Bolañitos holds the Bolañitos Mine in Guanajuato, Mexico.
The total upfront consideration for the Sale is US
In addition to the Base Consideration, Guanajuato Silver will make two contingent payments to Endeavour (the “Contingent Payments”), each being US
The Contingent Shares will be issued at a deemed price per Contingent Share (the “Contingent Share Issue Price”) equal to the greater of (i) the 10-day VWAP of the Guanajuato Shares on the TSXV as at the applicable milestone payment date (the “Market Price”), and (ii) the minimum price permitted by the TSXV after giving effect to the maximum discount permitted thereby, in each case converted to United States dollars using the average exchange rate posted by the Bank of Canada on the business day immediately preceding the applicable milestone payment date. If applicable, Guanajuato Silver will make an additional cash payment to the Company equal to any aggregate shortfall in value between the Market Price and the Contingent Share Issue Price with respect to each Contingent Payment.
The number of Contingent Shares issuable to Endeavour is subject to a maximum ownership percentage of
At closing of the Sale, Endeavour and Guanajuato Silver entered into an investor rights agreement pursuant to which, among other things, the Company has agreed to vote its Guanajuato Shares in accordance with recommendations of the Guanajuato Silver board of directors in respect of general matters for a period of 12 months, received participation rights in favour of the Company and agreed to certain restrictions on the transfer of Base Shares issued pursuant to the Agreement. All Base Shares are subject to voluntary restrictions on transfer for a period of 12 months, after which
The Company did not pay any finders' fees in connection with the Agreement.
About Endeavour Silver – Endeavour is a mid-tier silver producer with three operating mines in Mexico and Peru and a robust pipeline of exploration projects across Mexico, Chile, and the United States. With a proven track record of discovery, development, and responsible mining, Endeavour is driving organic growth and creating lasting value on its path to becoming a leading senior silver producer.
For Further Information, Please Contact
Allison Pettit
Vice President Investor Relations
Email: apettit@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 Sale, including the terms of the Sale, the Contingent Payments and related production requirements, the Company’s intended areas of focus, including with respect the Terronera and Pitarrilla projects, the creation of long-term value for shareholders, maximizing the potential of the Endeavour’s silver portfolio and the future growth of the Company . 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 mine 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; risks in obtaining necessary licenses and permits; 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 40-F and Annual Information Form and the applicable prospectus supplement filed respectively 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 did Endeavour (EXK) receive from the sale of Bolañitos on Jan 15, 2026?
How are the contingent payments structured in the EXK Bolañitos sale?
Will Endeavour shares in Guanajuato Silver be restricted after the EXK transaction?
Does the sale affect Endeavour’s voting rights in Guanajuato Silver (EXK)?
How will a Contingent Share shortfall be handled under the EXK sale terms?
What exchange rate and VWAP were used to price the Base Shares in the EXK sale?
