Welcome to our dedicated page for Endeavour Sil news (Ticker: EXK), a resource for investors and traders seeking the latest updates and insights on Endeavour Sil stock.
Endeavour Silver Corp. reports developments as a mid-tier silver producer with operating underground mines in Mexico and Peru. Company updates commonly cover production and financial results for the Terronera, Guanaceví and Kolpa mines, silver and gold output, base-metal by-product credits, cash costs, all-in sustaining costs, capital budgets and annual guidance.
News also reflects portfolio changes and project activity, including the completed sale of the Bolañitos mine, development and exploration work across Mexico, Chile and the United States, and governance updates involving the board and senior operating management.
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Endeavour Silver Corp. (EXK) reports significant progress on its Terronera Project in Mexico. With a financing commitment from Societe Generale and ING Bank, the company is advancing engineering, procurement, and construction, aiming for initial production by Q4 2024. As of March 31, 2023, over $58 million has been spent on the project, and onsite personnel has increased to 160. Major equipment purchases and site preparation are proceeding on schedule, with key infrastructure milestones anticipated in the next phases. The project is expected to create over 750 jobs and offers economic benefits to the local communities. Ongoing community support initiatives include educational scholarships and local supplier programs.
Endeavour Silver Corp. has announced the Board of Directors has approved the construction of an underground mine and mill at the Terronera Project in Jalisco, Mexico. The project will proceed with a senior secured debt facility of $120 million arranged by Societe Generale and ING Bank. The facility includes a term of 8.5 years, with a 2-year grace period and an interest rate of SOFR + 4.50%. Initial capital costs are estimated at $230 million, with a 21-month construction period anticipated. The project aims for initial production in Q4 2024. Despite inflationary pressures, management has optimized the project through early expenditures, which have de-risked the project and mitigated cost increases. The revised project aims for a processing capacity of 2,000 tonnes per day, with expected improvements in metal recovery rates.
Endeavour Silver Corp. (EXK) announced strong production results for Q1 2023, achieving 1,623,545 silver ounces and 9,342 gold ounces, translating to 2.4 million silver equivalent ounces, an 18% increase year-over-year. The Guanaceví mine showcased a remarkable 27% rise in silver output, driven by higher grades, while Bolañitos maintained steady performance. Despite some operational setbacks with lower tonnage throughput in February due to maintenance, production levels rebounded in March. The company reported metal sales of 1,667,408 oz silver and 9,126 oz gold, with significant inventories at quarter-end. Additionally, Endeavour is advancing the Terronera project towards construction, with ongoing financial due diligence. The Q1 2023 financial results are set to be released on May 10, 2023.
Endeavour Silver Corp. (NYSE: EXK) has filed an amended technical report for its Pitarrilla project in Durango, Mexico, dated March 15, 2023. This report addresses comments from the British Columbia Securities Commission (BCSC) following a pre-filing review. The Amended Pitarrilla Technical Report revises the original report from November 21, 2022, but shows no material changes. The amended report is accessible on SEDAR and Endeavour's website, adhering to National Instrument 43-101 standards. Dale Mah, VP of Corporate Development, reviewed and approved the report.