Core Points - Endeavour Silver Corp. has entered into an agreement with underwriters led by BMO Capital Markets to sell 15,825,000 common shares at a price of US$4.60 per share, resulting in gross proceeds of approximately US$73 million [1][2] - The net proceeds from the offering will be used for general working capital and the advancement of the Pitarrilla Project [2] - The offering is expected to close on or about November 27, 2024, pending necessary regulatory approvals [2] Offering Details - The common shares will be offered in all provinces of Canada (except Quebec) and in the United States under a prospectus supplement to a base shelf prospectus [3] - An option has been granted to underwriters to purchase up to an additional 10% of the common shares to cover over-allotments [1] - A final base shelf prospectus has been filed with securities regulatory authorities in Canada, and copies will be available through BMO Capital Markets [4][5] Company Overview - Endeavour Silver Corp. is a mid-tier precious metals company focused on sustainable mining practices, with operations in Mexico and a new cornerstone mine in Jalisco State [7] - The company aims to become a premier senior silver producer and has a portfolio of exploration projects in Mexico, Chile, and the United States [7]

Core Insights - Endeavour Silver Corp. has made significant advancements at its Pitarrilla project, enhancing its understanding of the deposit's geology and mineralization controls, which indicates potential for substantial shareholder value creation [1] Group 1: Exploration and Development Progress - The company has refurbished an existing underground ramp and extended it over 1.3 kilometers, confirming the presence of at least four high-grade feeder structures, including the Palmito, Danna, Victoria, and Casas Blancas veins [2] - Additional mineralized structures such as the Norma vein and the Pena dike were identified during the ramp development [2] - Since August 2024, Endeavour Silver has drilled nine diamond drill holes, confirming the target deposit and validating the geological interpretation for underground bulk tonnage mining [3] Group 2: Project Details - The Pitarrilla project spans 4,950 hectares across five concessions and is located 160 kilometers north of Durango City in northern Mexico [4] - The project has significant infrastructure, including direct access to utilities, and has secured necessary permits for underground mining and development [4][5] Group 3: Financial Performance - In Q3 2024, the company produced 1.6 million silver equivalent ounces, a 14% decline from the previous year, with consolidated silver production falling 24% year over year to 874,717 million ounces [6] - Gold production improved by 2% year over year, totaling 9,290 ounces [6] - The company reported adjusted earnings per share of 1 cent, surpassing the Zacks Consensus Estimate of breakeven earnings, and the top line grew 8.2% year over year to $53 million, although it missed the consensus estimate of $55 million [7] Group 4: Share Price Performance - Endeavour Silver's shares have increased by 131.7% over the past year, outperforming the industry's growth of 43.4% [8]

Financial Data and Key Metrics Changes - The company reported top line revenue of $53 million, an increase of 8% year-over-year, benefiting from higher precious metal prices compared to Q3 2023 [9] - Cost of sales totaled $41 million, a decrease of 12% compared to Q3 2023, driven by lower silver ounces sold and cost management measures [9] - The company reported a net loss of $17 million for Q3 2024, compared to a $2.3 million loss in Q3 2023 [10] - As of September 30, the company's cash position was $55 million, and working capital was $29 million [11] Business Line Data and Key Metrics Changes - Q3 silver equivalent production totaled 1.6 million ounces, consisting of 875,000 ounces of silver and 9,300 ounces of gold, tracking well towards the updated 2024 production guidance of 7.3 million to 7.6 million silver equivalent ounces [7] - Silver equivalent grades were in line with expectations, with gold grades slightly higher and silver grades slightly lower [8] Market Data and Key Metrics Changes - The company faced operational challenges due to a trending failure of the primary ball mill at the Guanacevi mine, operating at reduced capacity of approximately 50% [5][6] - The estimated timeline to return to full capacity is 15 weeks, with full operation expected next month [6] Company Strategy and Development Direction - The company is focused on the Terronera project, which is on track for commissioning near the end of Q4 2024, with surface construction reaching 77% completion and over $258 million spent to date [8][12] - The company aims to maintain strong community relations and has supported various local initiatives, emphasizing the importance of a social license to operate [15][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about cash flow and financial position benefiting from higher precious metal prices, despite operational challenges [5] - The company anticipates a smooth cash position as it moves into 2025 and starts ramping up cash flows from Terronera [34] Other Important Information - The company completed drawdowns of $25 million from the Senior Secure Debt Facility for Terronera during the quarter, with a final drawdown of $35 million completed subsequently [11] - The company is committed to advancing the Pitarilla project, with plans to spend about $5 million on underground ramp development [48] Q&A Session Summary Question: Staffing levels at Terronera - Management indicated that full employment at the site will be just over 500 people, with currently over 750 people on site, including 800 contract workers [18][19] Question: Community engagement and local job creation - Management reported strong community engagement and local job creation, with various initiatives supporting the local community [20][21] Question: General and Administrative (G&A) expenses outlook - Management stated that G&A expenses have historically been around $8 million to $10 million and do not expect significant increases in 2025 compared to 2024 [25] Question: Ramp-up process and potential bottlenecks - Management expects a three-month ramp-up process for Terronera and is focused on ensuring smooth operations during commissioning [28][30] Question: Cash costs and sustaining capital guidance - Management plans to provide 2025 guidance early next year, with current cost per ton at $81, acknowledging inflationary pressures [31][32] Question: Update on underground development at Terronera - Management confirmed positive ground conditions and better-than-expected ore body conditions, with ongoing test mining [46][47] Question: Update on Pitarilla project - Management plans to advance the Pitarilla project with ongoing drilling and expects to release news in the coming weeks [48][49]

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].