Endeavour Silver Corp. Management's Discussion & Analysis For the Three and Nine Months Ended September 30, 2024 MANAGEMENT'S DISCUSSION AND ANALYSIS For the periods ended September 30, 2024 This Management Discussion and Analysis ("MD&A") should be read in conjunction with the condensed consolidated interim financial statements of Endeavour Silver Corp. ("Endeavour" or "the Company") for the three and nine months ended September 30, 2024, and the related notes contained therein, which were prepared in acco ...

Endeavour Silver (EXK) shares soared 6.6% in the last trading session to close at $5.49. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 41.9% gain over the past four weeks.Endeavour Silver’s share price has jumped on its announcement that the Terronera project’s mine development and surface construction has reached 77% completion.  More than $258 million of the project's budget has been spent. The Terronera mine, located in Jali ...

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Endeavour Silver Corporation (EXK) produced 1.6 million silver equivalent ounces in the third quarter of 2024, a 14% decline from the year-ago quarter due to reduced silver production at its mines, which offset higher gold output. Endeavour Silver's Silver Production Slips, Gold Rises Consolidated silver production fell 24% year over year to 874,717 million ounces. This was due to a reduced operating capacity at Guanaceví after the trunnion breakdown in August. Endeavour Silver, however, witnessed a 2% year ...

VANCOUVER, British Columbia, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. ("Endeavour" or the "Company") (NYSE: EXK; TSX: EDR) is pleased to report third quarter 2024 production of 874,717 silver ounces and 9,290 gold ounces, for silver equivalent1 ("AgEq") production of 1.6 million ounces. Total year-to-date production of 6.0 million AgEq ounces is tracking towards the updated 2024 production guidance of 7.3 million to 7.6 million AgEq ounces. All amounts are in U.S. dollars unless stated other ...

Endeavour Silver Corp. (EXK) announced that processing resumed at the Guanacevi mine site following the completion of temporary modifications. On Aug 12, 2024, the company announced that the trunnion of the primary ball mill at the Guanacevi mill had failed, resulting in the suspension of material processing at the mill. Since then, EXK made modifications to the plant to repurpose one of the regrind mills as the primary ball mill. However, mining will continue at a reduced rate of 400 tons per day (tpd) dur ...

Core Viewpoint - Endeavour Silver Corp. has resumed processing at the Guanacevi mine site following a primary ball mill trunnion failure, implementing temporary modifications to maintain operations at reduced capacity [1][2]. Group 1: Operational Updates - Processing at the Guanacevi mine has resumed with a temporary setup using a regrind mill as the primary ball mill, currently milling at a rate of 400 tonnes per day (tpd), with potential to reach near 500 tpd during this phase [2]. - Mining operations will continue at a reduced rate, focusing on high-grade ore while stockpiling other materials, with contract mining and third-party purchases halted until full capacity is restored [3]. - The estimated cash shortfall during the 15-week reduced processing period is projected to be less than US$5 million, which includes costs associated with stockpiling ore [3]. Group 2: Production Forecast - The reduced processing period is expected to decrease Guanacevi's production by 0.9 million to 1.1 million silver ounces and by 2,000 to 3,000 gold ounces compared to the original plan [5]. - Annual consolidated silver production for 2024 is now expected to range from 4.4 to 4.6 million ounces, with gold production between 36,000 and 38,000 ounces, and silver equivalent production forecasted to total between 7.3 million and 7.6 million ounces [5]. Group 3: Cost Implications - Operating costs and all-in sustaining cost metrics are anticipated to be higher than previously guided for 2024 due to the reduced operating capacity [6]. - The company has withdrawn its cost guidance due to the uncertainties and variables involved in the current situation [6]. Group 4: Community and Workforce Engagement - Constructive discussions have been held with the workforce, communities, and suppliers to address the implications of the temporary operational changes [4]. - Initial quotes for the trunnion fabrication and installation have been obtained, with an estimated cost of US$0.5 million and a 16-week installation period [4].

Financial Data and Key Metrics Changes - The company reported top line revenue of $58 million, up 17% year-over-year due to higher metal prices compared to Q2 2023 [4] - Cost of sales totaled $48 million, up 28% from Q2 2023, driven by the strength of the Mexican peso and inflationary effects [4] - The company reported a net loss of $14 million for the three-month period ended June 30, 2024, compared to a $1 million loss in Q2 2023 [5] - Adjusted loss was $1.0 million compared to adjusted earnings of $1.6 million in Q2 2023 [5] - As of June 30, 2024, the company's cash position was $68 million and working capital was $65 million [6] Business Line Data and Key Metrics Changes - Q2's silver equivalent production totaled 2.2 million ounces, consisting of 1.3 million ounces of silver and 10,500 ounces of gold [3] - Purchased material from local miners increased to 18% of throughput, accounting for $5 million of cost of sales, compared to $1.5 million in Q2 2023 [4] Market Data and Key Metrics Changes - The company noted that higher precious metals prices are expected to positively impact cash flow and financial position [3] - The strength of the Mexican peso has contributed to increased labor, power, and consumable costs [4] Company Strategy and Development Direction - The Terronera project is on track for commissioning in Q4 2024, with significant progress made, reaching 65% completion as of June 30 [3][7] - The company plans to continue purchasing local materials, which are expected to remain elevated for the foreseeable future [4] - The company is focused on advancing its sustainability commitments, as highlighted in its 2023 Sustainability Report [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, noting that the higher precious metals prices should lead to better earnings over time [6] - There is some uncertainty regarding the regulatory environment in Mexico following the recent election, but the new administration is expected to be more pro-business [14] - The company anticipates that the remaining $45 million for the Terronera project will be available for drawdown in the second half of 2024 [16] Other Important Information - The company completed its first drawdown of the Terronera senior secured debt facility, drawing $60 million, with an additional $50 million drawn subsequently [6] - The company is also exploring the Pitarrilla project, with a $5 million budget for 2024 and ongoing drilling activities [40] Q&A Session Summary Question: Were ounces withheld for higher prices this quarter or is this just a function of timing? - Management clarified that it was just a timing function and they are not holding back sales at this time [10] Question: Do you think the peso has weakened to a level where you might start putting in broader company hedges in place? - Management indicated that they expect more weakness in the Mexican peso but have no current plans for additional FX hedges [11] Question: Can you comment on the operating environment in Mexico following the recent election? - Management noted that the new administration is expected to be more pro-business, but there is still uncertainty regarding regulatory changes [14] Question: How is the underground development progressing? - Management confirmed that underground development is tracking to plan and they expect to meet tonnage expectations for 2025 [19] Question: What is the expected timeline for the remaining $45 million drawdown for Terronera? - Management stated that there are no specific milestones required for the drawdown and it is expected to be available over the next six months [17] Question: Can you explain the significant loss this quarter despite higher metal prices? - Management explained that the loss was largely due to a $9 million loss related to derivatives and other non-cash items impacting the income statement [33][34]

VANCOUVER, British Columbia, Aug. 01, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. ("Endeavour" or the "Company") (NYSE:EXK, TSX:EDR) announces its financial and operating results for the three and six months ended June 30, 2024. All dollar amounts are in US dollars (US$). "During Q2 2024, the construction of the Terronera project continued to make excellent progress, with significant advance of the upper plant platform surface infrastructure. Staying on track for Q4 2024 commissioning reflects our team' ...

Endeavour Silver Corporation (EXK) produced 2.2 million silver equivalent ounces in the second quarter of 2024, a 5% decline from the year-ago quarter, primarily due to reduced silver production at both of its mines, which offset higher gold output. The company also expects to commission the Terronera mine in the fourth quarter of 2024 and commence production in 2025. Silver Production Declines on Lower Grades, Gold Up Consolidated silver production fell 12% year over year to 1.31 million ounces. This was d ...