Core Insights - Endeavour Silver Corporation (EXK) produced 2.5 million silver-equivalent ounces (AgEq) in Q2 2025, a 17% increase year-over-year, attributed to the addition of the Kolpa operation in May 2025 [1][8] Production Performance - Consolidated silver production rose 13% year-over-year to 1,483,736 ounces; however, excluding Kolpa, production decreased by 16% [2] - Guanaceví's silver production was 997,875 ounces, down 17% year-over-year, while Bolanitos saw a 10% decline to 105,223 ounces [2] - Total gold production fell 26% year-over-year to 7,755 ounces, with Bolañitos down 34% to 4,193 ounces and Guanaceví down 16% to 3,562 ounces [3] Sales and Inventory - Total silver ounces sold increased 21% year-over-year to 1.48 million ounces, while gold sales decreased by 22% to 7,706 ounces [4] - At the end of the quarter, the company held 242,980 ounces of silver and 701 ounces of gold in bullion inventory, along with 24,970 ounces of silver and 399 ounces of gold in concentrate inventory [4] Financial Updates - Endeavour Silver announced a deal to sell up to $60 million worth of common shares over the next 24 months through at-the-market distributions on the New York Stock Exchange [5][6] - The proceeds will be used for the evaluation and development of Pitarrilla and Parral properties, covering cash shortfalls during the ramp-up of operations at the Terronera project, and for exploration and working capital needs [6] Stock Performance - EXK shares have gained 12.4% over the past year, outperforming the industry growth of 6.6% [7]

Core Viewpoint - Endeavour Silver Corp. has entered into a sales agreement to raise up to US$60 million through the sale of common shares over approximately 24 months, utilizing various financial agents for the offering [1][2]. Group 1: Offering Details - The offering will be conducted via a prospectus supplement dated July 10, 2025, linked to the existing U.S. registration statement and Canadian base shelf prospectus [2]. - The common shares will be sold at market prices prevailing at the time of each sale, with no sales occurring on the Toronto Stock Exchange [1][2]. - The company will pay the agents a compensation of 2.00% of the gross sales price per common share sold under the sales agreement [4]. Group 2: Use of Proceeds - Net proceeds from the offering will be allocated to advance the evaluation and development of the Pitarrilla and Parral properties, fund cash requirements during the ramp-up of operations at the Terronera project, assess potential acquisition opportunities, continue exploration at existing properties, and support working capital needs [3]. Group 3: Company Overview - Endeavour Silver is a mid-tier precious metals company focused on sustainable mining practices, with operations in Mexico and Peru, and aims to become a premier senior silver producer [6].

Core Viewpoint - Endeavour Silver Corp. has entered into a sales agreement to raise up to US$60 million through the sale of common shares over approximately 24 months, utilizing various financial agents for the offering [1][2]. Group 1: Offering Details - The offering will be conducted via a prospectus supplement to the existing U.S. registration statement and Canadian short form base shelf prospectus, both dated May 27, 2025 [2]. - The common shares will be sold at market prices prevailing at the time of each sale, with no sales occurring on the Toronto Stock Exchange [1][2]. - The company will pay the agents a compensation of 2.00% of the gross sales price per common share sold under the sales agreement [4]. Group 2: Use of Proceeds - Net proceeds from the offering will be used to advance the evaluation and development of the Pitarrilla and Parral properties, fund cash requirements during the ramp-up of operations at the Terronera project, assess potential acquisition opportunities, continue exploration at existing properties, and support working capital needs [3]. Group 3: Company Overview - Endeavour Silver is a mid-tier precious metals company focused on sustainable mining practices, with operations in Mexico and Peru, and aims to become a premier senior silver producer [6].

Company Overview - Endeavour Silver is a mid-tier silver producer with two high-grade, underground silver-gold mines in Mexico[12] - The company is building Mexico's next silver mine, with Terronera wet commissioning commenced in Q2 2025[12] - Endeavour Silver is strategically acquiring key assets through opportunistic mergers and acquisitions, such as the Kolpa Mine in Peru[12, 20] Production and Financial Outlook - The company's 2025 consolidated outlook includes silver production of 45 to 52 million ounces and gold production of 31 to 34 thousand ounces[15] - 2025 outlook includes all-in sustaining costs, net of gold credit, of $25 to $26 per silver ounce and cash costs, net of gold credit, of $16 to $17 per silver ounce[15] - The company's exploration budget for 2025 is $34 million[15] Kolpa Mine Acquisition - The acquisition of the Kolpa Mine in Peru is expected to increase Endeavour's annual production profile by 50 million silver equivalent ounces, assuming continued production at Kolpa is consistent with 2024 production[19, 26] - Kolpa's 2024 production included 20 million ounces of silver, 198 kilotonnes of lead, 126 kilotonnes of zinc, and 05 kilotonnes of copper, totaling 51 million silver equivalent ounces[23, 27] - Kolpa Mine's 2024 all-in sustaining cost on a by-product basis was $2280 per ounce, and the operating cost per tonne processed was $133[27] Terronera Project - The Terronera Project's updated initial capital costs are estimated at $332 million[63] - The Terronera project is expected to add 76 million silver equivalent ounces to the company's production[66] - The Terronera project is expected to have an average annual production of 40 million ounces of silver and 38000 ounces of gold over a 10-year mine life, equivalent to 70 million silver equivalent ounces[67] Guanacevi Mine - Guanacevi Mine's Proven reserves are 02 million tonnes at 506 g/t AgEq containing 33 million AgEq oz[37] - Guanacevi Mine's Probable reserves are 03 million tonnes at 414 g/t AgEq containing 34 million AgEq oz[37]

Group 1: Silver Market Overview - Silver has recently surpassed $37 per ounce, indicating a potential upward trend with minimal resistance until it reaches an all-time high of around $50 [1] - The supply-demand dynamics are critical, with analysts noting that silver mining production has not kept pace with increasing demand, leading to concerns about the availability of silver for extraction [2] - The silver-gold ratio is currently about 91, which is historically high, making silver an attractive investment compared to gold [3] Group 2: Investment Opportunities in Silver - Investors can gain exposure to silver through various means, including physical silver, exchange-traded funds (ETFs), and mining stocks [4] - Pan American Silver Corp. (NYSE: PAAS) is the world's fifth-largest silver producer, with a 12-month stock price forecast of $30.60, indicating a 5.21% upside potential [5] - Endeavour Silver Corp. (NYSE: EXK) is another notable mining company, with a 12-month stock price forecast of $6.83, representing a 36.89% upside potential [9] Group 3: Company Performance and Projections - Pan American Silver's stock price increased by 44.8% in 2025, driven by its acquisition of MAG Silver Corporation for $2.1 billion, which is expected to enhance its production capabilities [6] - Endeavour Silver's stock has also risen over 49% in the last month, with expectations to double its silver equivalent production from its flagship Terronera mine in 2025-2026 [10][11] - Both companies operate in Mexico, with Endeavour being significantly smaller than Pan American, having a market cap of just over $1 billion [12] Group 4: iShares Silver Trust - The iShares Silver Trust (NYSEARCA: SLV) tracks physical silver and has assets under management of $17.48 billion, with a current price of $33.50 [13][14] - The fund's performance mirrors the spot price of silver, having increased by 28.4% as of June 17, which aligns with the growth in silver prices [15] - Despite a 0.5% expense ratio, the iShares Silver Trust remains a viable option for investors seeking exposure to silver without the challenges of physical ownership [15]

Core Insights - Endeavour Silver Corp. reported positive drill results from its Pitarrilla project in Durango, Mexico, indicating high-grade silver, zinc, and lead mineralization, which enhances confidence in upgrading existing mineral resources [1][22]. Drill Results - Significant drill results from the Danna vein include a wide mineralized interval of 7.4 meters with grades of up to 1,127 grams per tonne (gpt) silver, 1.40% lead, and 4.36% zinc, translating to 1,319 gpt silver equivalent (AgEq) over 2.08 meters estimated true width (ETW) [7]. - Drill hole BPU-022 intersected 247 meters of apparent width with 254 gpt AgEq, with true width estimated at approximately 400 meters wide and up to 100 meters high in some areas [10][15]. - The Manto Pitarrilla structure showed high-grade intervals, including 2,680 gpt silver, 24.03% lead, and 18.90% zinc for 3,987 gpt AgEq over 0.60 meters in hole BPU-022 [4][15]. Geological Context - The Pitarrilla deposit consists of three mineralized domains and at least four identified sulphide mineralized veins, with structures extending from below marine sediments through Manto Pitarrilla into upper volcanics [5][6]. - The geological re-logging of historical drill core has improved understanding of the deposit's geology and mineralization controls, focusing on high-grade feeder structures believed to be the main conduits for mineralization [22][23]. Project Overview - The Pitarrilla project is a large undeveloped silver, lead, and zinc project located 160 kilometers north of Durango City, covering 4,752 hectares across five concessions, with significant infrastructure and key permits already in place for underground mining and development [24].

Endeavour Silver Corporation (EXK) reported break-even earnings per share in the first quarter of 2025. The bottom line, however, missed the Zacks Consensus Estimate of earnings of three cents per share. Including one-time items, EXK reported a loss of 13 cents per share in the first quarter of 2025 compared with a loss of one cent in the first quarter of 2024. Endeavour Silver’s Q1 Revenues Flat Y/YThe company’s revenues were flat year over year at $64 million as gains from higher prices for silver and gol ...

Endeavour Silver (EXK) Q1 2025 Earnings Call May 13, 2025 01:00 PM ET Company Participants Allison Pettit - Director of Investor RelationsDan Dickson - CEO & DirectorDonald Gray - Chief Operating OfficerWayne Lam - Director - Mining ResearchElizabeth Senez - Chief Financial OfficerHeiko Ihle - MD & Equity Research Conference Call Participants Nick Giles - Senior Research Analyst Operator you for standing by. This is the conference operator. Welcome to the Endeavor Silver First Quarter twenty twenty five Fin ...

Financial Data and Key Metrics Changes - In Q1 2025, the company produced 1,200,000 ounces of silver and 8,300 ounces of gold, totaling 1,900,000 silver equivalent ounces [4] - Revenue for the quarter was $64,000,000, consistent with the prior year, benefiting from higher precious metal prices [5] - The company reported a net loss of $32,900,000, primarily due to unrealized noncash impacts from gold hedging and forward swap contracts [5] - Cash costs were $15.89 per ounce of silver, and all-in sustaining costs were $24.48 net of gold credits, both slightly below annual guidance [6] - As of March 31, 2025, the company's cash position was $65,000,000, and working capital was $15,000,000, reflecting a decrease from December 31, 2024 [6] Business Line Data and Key Metrics Changes - Guanacevi and Bolanitos performed in line with expectations, while Terronera is nearing completion and has started producing concentrate [4] - The acquisition of the Copa mine in Peru is expected to enhance the production profile significantly, with an annual production estimate of 5,000,000 silver equivalent ounces [8][10] Market Data and Key Metrics Changes - The company is positioned to achieve annualized production approaching 20,000,000 silver equivalent ounces when combining all producing assets [10] Company Strategy and Development Direction - Terronera is viewed as a transformational asset that will redefine the company's growth trajectory, with a projected mine life of over a decade [7] - The company aims to build a scalable silver-dominant asset base, leveraging technical expertise and development capabilities [9] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about the commissioning of Terronera and its potential impact on the business [7] - The company is closely monitoring cash balances and working capital requirements during the ramp-up phase, emphasizing the importance of achieving commercial production [29] Other Important Information - The company is validating and updating historical resource estimates for the Copa mine, with a significant exploration budget planned [39][40] Q&A Session Summary Question: What is needed for confidence in the ramp-up guidance for Terronera? - Management indicated that consistent throughput and production are critical before providing formal guidance on costs and production timelines [12][13] Question: What are the near-term priorities for the ramp-up at the plant? - Management noted that the commissioning process involves a systematic approach to check systems and ensure everything is running smoothly [15][18] Question: What is the capital intensity for throughput expansion at Copa? - The estimated capital intensity for expanding capacity from 1,800 tons per day to 2,500 tons per day is between $12 million to $16 million [20] Question: How comfortable is the company with its cash balance and working capital for Terronera? - Management expressed confidence in the cash balance of $65,000,000 and working capital of $15,000,000, while acknowledging the high-stress phase of the project [26][28] Question: Are there still meaningful cash flows going into Terronera in Q2? - Management confirmed that spending continues for commissioning, although they do not have complete data for April yet [33][35] Question: What are the higher priority targets for exploration at Copa? - Management highlighted a significant exploration budget and plans to focus on previously discovered veins and new opportunities [39][40]

Core Viewpoint - Pomerantz LLP is investigating claims of potential securities fraud or unlawful business practices involving Endeavour Silver Corp and its officers or directors [1]. Group 1: Investigation Details - Pomerantz LLP is representing investors of Endeavour Silver Corp and is looking into allegations of securities fraud [1]. - Investors are encouraged to contact Pomerantz LLP for more information regarding the investigation [1]. Group 2: Recent Company Actions - On April 1, 2025, Endeavour announced an upsized bought deal of common shares, with underwriters agreeing to purchase 11,600,000 shares at a price of US$3.88 per share, resulting in gross proceeds of approximately US$45 million [3]. - Following the announcement of the upsized deal, Endeavour's stock price decreased by $0.49 per share, or 11.48%, closing at $3.78 per share on the same day [3].