Endeavour Silver Reports Q2 2024 Production Results; In-Line with Guidance

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].