- Endeavour Silver (EDR) has released its production results for the third quarter of 2021 and increased its consolidated production guidance for the year
- Overall, the company’s consolidated silver production increased by 39 per cent compared to Q3 2020
- Management has increased Endeavour’s consolidated production guidance to 7.7 to 8 million ounces of silver equivalent
- Endeavour Silver is a Canadian mineral company
- Endeavour Silver Corp. (EDR) is up 2.77 per cent, trading at $5.19 per share
Endeavour Silver (EDR) has released its production results for the third quarter of 2021 and increased its consolidated production guidance for the year.
The company’s assets include the Bolanitos, El Compas, and Guanacevi mines, the Terronera project, and the recently acquired Bruner gold project.
Overall, the company’s consolidated silver production increased by 39 per cent compared to Q3 2020 and gold production increased by 3 per cent. Both gold and silver increases were driven by higher production at the Guanvacevi mine, up 47 and 46 per cent respectively.
“We are well positioned to exceed our original full year consolidated production guidance,” said Endeavour CEO Dan Dickson, “which has led to the decision to formally revise our annual targets.”
With consolidated production reaching over 1.3 million ounces of silver and just over 10,500 ounces of gold this quarter, management has increased Endeavour’s consolidated production guidance to 7.7 to 8 million ounces of silver equivalent.
The revision reflects stronger than expected results at the Guanacevi mine, with higher than expected grades and tonnage milled.
The company sold 699,540 oz silver and 9,925 oz gold in the third quarter. In addition, management continued to withhold metal from sale during the price correction over the third quarter and plans to sell the withheld metal inventory in anticipation of a precious metal price rebound.
“Entering the fourth quarter,” Mr. Dickson added, “we are also continuing with our exploration programs and anticipate releasing additional drill results at Terronera, building on the encouraging regional results we announced previously this year.”
Endeavour Silver is a Canadian mineral company engaged in the evaluation, acquisition, exploration, development, and exploitation of precious metal properties in Mexico and Chile.
Endeavour Silver Corp. (EDR) is up 2.77 per cent, trading at $5.19 per share as of 4:00 pm ET.