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 - The company has withdrawn its cost guidance due to the uncertainties and variables involved in the current situation [6].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 ...

The market has been in bull mode for the past two years. But as we all know, most stocks benefiting from this bullishness have been big-cap tech growth stocks. However, I believe now is a good time to look into some tiny stocks. These stocks haven't done nearly as well. So, it's true that investors with a large percentage of their portfolios allocated to these stocks haven't done well at all. For example, the Russell 2000 is still down by nearly 17% from its peak in 2021. That said, I think many penny stock ...

Core Viewpoint - Endeavour Silver Corp. reported its Q2 2024 production results, highlighting a decrease in silver production but an increase in gold production, with a focus on the commissioning of the Terronera mine in Q4 2024 and production expected in 2025 [1][6][9]. Production and Operations - The company produced 1,312,572 ounces of silver and 10,549 ounces of gold in Q2 2024, resulting in a silver equivalent production of 2.2 million ounces [6][9]. - Consolidated silver production decreased by 12% compared to Q2 2023, primarily due to lower silver grades at the Guanaceví mine, while gold production increased by 7% [9][10]. - The Guanaceví mine benefited from local third-party feed, which accounted for 15% of quarterly throughput, and management expects this to remain above 10% going forward [3][9]. Financial Performance - Year-to-date production of 4.4 million silver equivalent ounces is tracking towards the upper range of the full year 2024 production guidance of 8.1 million to 8.8 million ounces [6][9]. - The company sold 1,217,569 ounces of silver and 9,887 ounces of gold during the quarter, with inventories at the end of the quarter including 262,160 ounces of silver and 939 ounces of gold bullion [2][9]. Mine-Specific Highlights - Guanaceví processed 112,897 tonnes with a silver grade of 364 grams per tonne and a gold grade of 1.29 grams per tonne, achieving a silver recovery rate of 90.4% [10]. - Bolañitos mine processed 106,092 tonnes with a silver grade of 41 grams per tonne and a gold grade of 2.06 grams per tonne, achieving a silver recovery rate of 83.4% [10]. Strategic Developments - The company is focused on the commissioning of the Terronera mine, with construction activities peaking and a business readiness strategy in place for a smooth transition into operations [1][8]. - The first drawdown of the Terronera Senior Secured Debt Facility of USD $60 million is being utilized for mine development, with an additional USD $60 million available for future drawdowns [8].

Core Insights - Endeavour Silver Corp. reported Q2 2024 production of 1,312,572 silver ounces and 10,549 gold ounces, resulting in silver equivalent production of 2.2 million ounces, with year-to-date production tracking towards the upper range of the full year guidance of 8.1 million to 8.8 million ounces [1][4]. Production Highlights - Silver production decreased by 12% compared to Q2 2023, primarily due to lower silver grades at the Guanaceví mine, while gold production increased by 7% due to higher gold grades at both Guanaceví and Bolañitos [4][14]. - The Guanaceví mine processed 227,901 tonnes with a silver grade of 383 grams per tonne and a recovery rate of 90.1%, while the Bolañitos mine processed 212,882 tonnes with a silver grade of 42 grams per tonne and a recovery rate of 84.5% [8][19]. Financial and Operational Developments - The company completed the first drawdown of a $60 million senior secured debt facility to develop the Terronera mine, with an additional $60 million available for future drawdowns [3]. - Metal sales included 1,217,569 ounces of silver and 9,887 ounces of gold during the quarter, with inventories at the end of the quarter comprising 262,160 ounces of silver and 939 ounces of gold bullion [15][16]. Sustainability and Management - The company published its 2023 Sustainability Report, highlighting progress in its 2022-2024 Sustainability Strategy [3]. - Angela Johnson was appointed as a new director, bringing over thirteen years of experience in the mining industry and expertise in ESG best practices [3].

About Endeavour Silver – Endeavour Silver is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and the development of the new cornerstone mine in Jalisco state, the Company aims to contribute positively to the mining industry and the communities in which it operates. In addition, Endeavour has a portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver ...

VANCOUVER, British Columbia, May 16, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. ("Endeavour" or the "Company") (TSX: EDR, NYSE: EXK) made further progress executing its 2022-2024 Sustainability Strategy, as outlined in the Company's 2023 Sustainability Report, released today. Entitled "Transformation in Motion", the report provides insights into Endeavour's sustainability performance and approach over 2023, including second-year progress highlights against the strategy. "Since launching our 2022-2024 S ...

VANCOUVER, British Columbia, May 16, 2024 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. ("Endeavour" or the "Company") (TSX: EDR, NYSE: EXK) made further progress executing its 2022-2024 Sustainability Strategy, as outlined in the Company's 2023 Sustainability Report, released today. Entitled "Transformation in Motion", the report provides insights into Endeavour's sustainability performance and approach over 2023, including second-year progress highlights against the strategy. "Since launching our 2022-2024 S ...