Endeavour Silver Makes Significant Progress at Pitarrilla Project

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]