Endeavour Silver (EXK) Earnings Call Presentation

Company Overview - Endeavour Silver is a mid-tier silver producer with two high-grade, underground silver-gold mines in Mexico[12] - The company is building Mexico's next silver mine, with Terronera wet commissioning commenced in Q2 2025[12] - Endeavour Silver is strategically acquiring key assets through opportunistic mergers and acquisitions, such as the Kolpa Mine in Peru[12, 20] Production and Financial Outlook - The company's 2025 consolidated outlook includes silver production of 45 to 52 million ounces and gold production of 31 to 34 thousand ounces[15] - 2025 outlook includes all-in sustaining costs, net of gold credit, of $25 to $26 per silver ounce and cash costs, net of gold credit, of $16 to $17 per silver ounce[15] - The company's exploration budget for 2025 is $34 million[15] Kolpa Mine Acquisition - The acquisition of the Kolpa Mine in Peru is expected to increase Endeavour's annual production profile by 50 million silver equivalent ounces, assuming continued production at Kolpa is consistent with 2024 production[19, 26] - Kolpa's 2024 production included 20 million ounces of silver, 198 kilotonnes of lead, 126 kilotonnes of zinc, and 05 kilotonnes of copper, totaling 51 million silver equivalent ounces[23, 27] - Kolpa Mine's 2024 all-in sustaining cost on a by-product basis was $2280 per ounce, and the operating cost per tonne processed was $133[27] Terronera Project - The Terronera Project's updated initial capital costs are estimated at $332 million[63] - The Terronera project is expected to add 76 million silver equivalent ounces to the company's production[66] - The Terronera project is expected to have an average annual production of 40 million ounces of silver and 38000 ounces of gold over a 10-year mine life, equivalent to 70 million silver equivalent ounces[67] Guanacevi Mine - Guanacevi Mine's Proven reserves are 02 million tonnes at 506 g/t AgEq containing 33 million AgEq oz[37] - Guanacevi Mine's Probable reserves are 03 million tonnes at 414 g/t AgEq containing 34 million AgEq oz[37]