Endeavour Sil Stock Price, News & Analysis

Endeavour Silver (NYSE: EXK) reported its Q4 and full-year 2024 financial results, achieving production at the higher end of updated guidance despite challenges. The company produced 4.47M silver ounces and 39,047 gold ounces, totaling 7.6M AgEq ounces in 2024.

Revenue reached $217.6 million with average realized prices of $27.39 per silver ounce and $2,397 per gold ounce. Mine operating cash flow was $72.3M, while the company reported a net loss of $31.5M for the year. Adjusted earnings were $8.0M ($0.03 per share).

Key operational highlights include:

• Cash position of $106.4M with working capital of $78.8M
• Terronera project at 89.4% completion with $302M spent
• Q4 AISC increased 27% to $27.33 per oz
• Direct operating costs rose 15% to $152.44 per tonne in Q4

The company faced challenges including a trunnion failure at Guanacevi mine affecting mill throughput from August to December, though production resumed to full capacity in December 2024.

Endeavour Silver (NYSE: EXK) has announced positive drill results from its exploration program at the Bolañitos Mine in Guanajuato State, Mexico. The 2024/2025 program, focusing on the La Luz vein, has revealed significant high-grade gold and silver mineralization.

Key drilling highlights include intersections of 1.17 gpt Au and 449 gpt Ag (542 gpt AgEq) over 1.02m, and notably 2.43 gpt Au and 1,063 gpt Ag (1,258 gpt AgEq) over 1.62m. The surface diamond drilling program, initiated in Q4 2024, has outlined high-grade mineralization over 100 metres in length to a depth of 200 metres, with eight drill holes totaling 2,000 metres completed to date.

The explored area, located within 500 metres from the Asunción mine, remains open to the south and to depth. Drilling operations will continue through the first half of 2025, aiming to replace reserves, increase resources, and extend the mine's life.

Endeavour Silver reports significant progress on its Terronera Project in Mexico, with overall project completion reaching 89.4%. The project's surface construction is advancing well, with dry commissioning underway on the Upper Platform. Total capital expenditures have reached $302 million, with management estimating a final project cost of $332 million, representing a $61 million increase from previous estimates.

Key developments include completion of the Primary Jaw Crusher commissioning, successful testing of the grinding circuit, and installation of flotation equipment. Underground development reached 7,239 metres, with 1,694 metres completed in Q4 2024. The project workforce includes 297 Endeavour employees and 821 contractors.

The company expects to begin full system commissioning in early Q2 2025, with focus on completing the tailing filter presses, which remain on the critical path.

Endeavour Silver (NYSE: EXK) has announced its 2025 guidance for Guanaceví and Bolañitos operations. The company expects silver production of 4.5-5.2 million ounces and gold production of 30,500-34,000 ounces, totaling 7.0-7.9 million silver equivalent ounces.

Consolidated cash costs are estimated at $16.00-$17.00 per silver ounce, with all-in sustaining costs (AISC) of $25.00-26.00 per silver ounce. The company plans to invest $33.6 million in sustaining capital at its two operating mines and $11.7 million in growth capital, including $9.1 million for the Pitarrilla project.

For 2025, Guanaceví's plant throughput is estimated at 1,000-1,100 tonnes per day, while Bolañitos is expected to process 1,100-1,200 tonnes per day. The company also plans to conduct 20,500 meters of exploration drilling across various projects with a total exploration budget of $6.5 million.

Endeavour Silver (NYSE: EXK) reported its full year 2024 production results, achieving 4,471,824 silver ounces and 39,047 gold ounces, equivalent to 7.6 million silver equivalent ounces. The fourth quarter saw production of 824,529 silver oz and 9,075 gold oz.

The company faced operational challenges at Guanaceví due to a trunnion failure in August, which reduced capacity for 15 weeks. Operations resumed full capacity of 1,200 tonnes per day in December after a US$400,000 repair. Q4 consolidated silver production decreased 41% compared to Q4 2023, while gold production decreased by 6%.

The company completed a US$73 million bought deal financing, with proceeds allocated for working capital and advancing the Pitarrilla Project. Metal sales for Q4 included 654,519 silver oz and 8,343 gold oz, with year-end inventory of 276,477 silver oz and 1,220 gold oz in bullion, plus additional concentrate inventory.

Endeavour Silver (NYSE: EXK; TSX: EDR) reported delays at its Terronera project due to critical structural steel delivery issues in December, impacting construction progress and commissioning timelines. As a cost-saving measure, the company reduced its workforce from December 20, 2024, to January 6, 2025.

The wet commissioning is now expected in early Q2 2025. Despite delays, the tailings dam is ready, and dry commissioning of the upper platform continues. The grinding circuit testing has been successful, with SAG and ball mills tested at full operating speed. Above-ground ore stockpiles are approaching capacity, while mine development continues.

Management will provide a detailed Q4 construction update later in January, including a photo gallery and updated site overhead costs for Q1 2025.

Endeavour Silver (NYSE: EXK; TSX: EDR) has successfully completed the installation of its primary ball mill trunnion at the Guanaceví mine, returning operations to full capacity. Following a trunnion failure in August, the facility operated at reduced capacity of 620 tonnes per day (tpd) for 15 weeks. The new trunnion, installed on November 30 with subsequent alignment testing, has restored the plant to its designed capacity of 1,200 tpd. The total cost for fabrication and installation amounted to just over US$400,000.

Endeavour Silver (TSX: EDR, NYSE: EXK) has successfully completed its previously announced prospectus offering, raising US$72.8 million through the issuance of 15,825,000 common shares at US$4.60 per share. The offering was led by BMO Capital Markets along with a syndicate of underwriters including CIBC World Markets, TD Securities, Ventum Financial Corp., and H.C. Wainwright & Co. The company intends to use the net proceeds to advance its Pitarrilla project in Durango State, Mexico, and for general working capital purposes.

Endeavour Silver provides an update on its Pitarrilla project exploration and evaluation initiatives. The company has extended an underground ramp over 1.3 kilometers and identified four main feeder structures: Palmito, Danna, Victoria, and Casas Blancas veins. Nine diamond drill holes have been completed, confirming management's geological interpretation and potential for underground bulk tonnage mining. The feeder veins show vertical extent of 600-800 meters and strike lengths approaching 700 meters. Engineering firms including SGS Canada, JDS Energy & Mining, and others have been retained to begin preliminary work, aiming for an economic study by end of 2025.