Latest news with #Kolpa
Yahoo
29-07-2025
- Business
- Yahoo
Analysts Positive on Endeavour Silver Corp. (EXK) Amid Strong Production Momentum; H.C. Wainwright Maintains ‘Buy' Rating
With strong billionaire interest, Endeavour Silver Corp. (NYSE:EXK) is included in our list of the . A closeup view of a large gold mine, illustrating the company's gold properties. Thanks to strong Q2 production, strategic financing, and growing analyst optimism, Endeavour Silver Corp. (NYSE:EXK) is undergoing a transformative phase. On July 8, 2025, Endeavour Silver Corp. (NYSE:EXK) reported production results for Q2 2025. The company reported silver equivalent production of 2.5 million ounces, which was attributed to the integration of Kolpa that exceeded early expectations. While throughput challenges were noticed at legacy mines like Guanacevi and Bolanitos, Kolpa's strong performance and Terronera's steady expansion set the company up for future growth. Dan Dickson, the company's CEO, also acknowledged Terronera's growth potential as it is on track for commercial production, reporting a stable throughput at 1,400 tons per day in late June. Meanwhile, on July 10, 2025, Endeavour Silver Corp. (NYSE:EXK) announced a $60 million at-the-market equity offering to fund its key projects, such as Pitarrilla and Parral, and to support the Terronera ramp-up. The company also hinted at potential strategic acquisitions. On the analyst front, on July 9, 2025, H.C. Wainwright increased its price target on Endeavour Silver Corp. (NYSE:EXK) from $7.25 to $8.75, maintaining a 'Buy' rating. Similarly, CIBC raised its price target to $7.30. With mineral properties in Mexico, Chile, Peru, and the United States, Endeavour Silver Corp. (NYSE:EXK) primarily explores for silver and gold. It is included in our list of the best gold stocks. While we acknowledge the potential of EXK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 14 Cheap Transportation Stocks to Buy According to Analysts and 10 Cheap Lithium Stocks to Buy According to Hedge Funds. Disclosure: None. Sign in to access your portfolio
Yahoo
08-07-2025
- Business
- Yahoo
Endeavour Silver Produces 1,483,736 Oz Silver and 7,755 Oz Gold (2.5 Million Silver Equivalent Oz) in Q2 2025
VANCOUVER, British Columbia, July 08, 2025 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. ('Endeavour' or the 'Company') (NYSE: EXK; TSX: EDR) reports second quarter 2025 production of 1,483,736 silver ounces (oz), 7,755 gold oz, and in combination with base metal production a silver equivalent(1) ('AgEq') total production of 2.5 million oz. All dollar amounts are in US dollars ($). "We delivered strong and consistent production in the second quarter,' said Dan Dickson, Chief Executive Officer of Endeavour Silver. 'The integration of Kolpa is progressing smoothly, with output already trending above initial expectations. At the same time, Terronera continues to move steadily toward commercial production. This is a pivotal time for Endeavour as we build operational momentum and position the Company for meaningful, long-term growth." Q2 2025 Production Overview Guanaceví Maintains Consistent Production: Production in line with plan, with gold production slightly above plan and silver production at the lower end of the planned range. Bolañitos Continues to Perform: Due to the lower throughput in May and June, silver and gold production were both slightly below plan. Kolpa Delivers Strong Results at a Stable Rate: Throughput and production of metals were in line with historical results and management's expectations. Terronera Ramp-Up Phase Advances Toward Commercial Production: Daily production averaged 1,400 tonnes per day (tpd) in the second half of June. Metal Sales and Inventories: Sold 1,477,197 silver ounces and 7,706 gold ounces during the second quarter. A total of 242,980 silver ounces and 701 gold ounces of bullion inventory and 24,970 silver ounces and 399 gold ounces in concentrate inventory were held at June 30, 2025. Q2 2025 Mine Operations Consolidated silver production was 1,483,736 ounces in Q2 2025, in line with plan and 13% higher than Q1 2024 due to the addition of Kolpa operation into the portfolio. Excluding production from Kolpa, consolidated production was 16% lower than Q2 2024, slightly below plan, due to the 17% lower production in Guanaceví mine and 10% lower production in Bolañitos mine. Consolidated gold production was 7,755 ounces in Q2 2025, 26% lower than Q2 2024. Lower gold production was due to 34% lower production at the Bolañitos mine, and 16% lower gold production at the Guanaceví mine. In Q2 2025, Guanaceví throughput was 14% lower than Q2 2024 and silver and gold grades were 1% lower, which drove the 17% lower silver and 16% lower gold output. Guanaceví throughput and grades were in line with plan. Supplies of local third-party feed continued to supplement mine production, amounting to 21% of quarterly throughput. Bolañitos Q2 2025 throughput was 17% lower than throughput in Q2 2024, combined with 10% higher silver grades offset by 19% lower gold grades. Silver production was 10% lower than in the same period in 2024, while gold production was 34% lower. Throughput was below the plan, while silver and silver grades were consistent with plan. The grade variation is due to mining from different locations in the ore body. Since the acquisition of Kolpa on May 1, Kolpa processed 118,896 tonnes of material grading 111 grams of silver per tonne and, 3.13% lead, 2.25% zinc and 0.22% copper. These results are in line with management's expectations established at the time of acquisition and reflect the ongoing efficiency of current mining and processing activities. The Company is actively advancing integration to ensure a smooth alignment of systems, teams, and operational processes. The team remains focused on maintaining steady output and advancing Kolpa's contribution to the Company's long-term growth strategy. Consolidated1,3 Production Highlights for the Three Months Ended June 30, 2025 Three Months Ended June 30, 2025 2024 % Change Throughput (tonnes) 303,828 218,989 39% Silver ounces produced 1,483,736 1,312,572 13% Gold ounces produced 7,755 10,548 (26%) Lead tonnes produced3 3,503 - N/A Zinc tonnes produced3 2,316 - N/A Copper tonnes produced3 58 - N/A Payable silver ounces produced 1,454,412 1,303,461 12% Payable gold ounces produced 7,638 10,369 (26%) Silver equivalent ounces produced2 2,528,562 2,156,453 17% Silver ounces sold 1,477,197 1,217,569 21% Gold ounces sold 7,706 9,887 (22%) 1 Terronera pre-operating production is excluded. 2 Silver equivalent (AgEq) is calculated using 80:1 silver: gold ratio, 60:1 lead ratio, 85:1 zinc ratio and 300:1 copper ratio plus silver ounces or $30/oz silver, $2,400/oz gold, $1,800/tonne lead, $2,550/tonne zinc and $9,000/tonne copper. 3 The Kolpa acquisition closed on May 1, 2025, therefore two months of results are included in the second quarter consolidated results. Production Tables for the Three Months Ended June 30, 2025 for the Mexico Operating Mines Three Months Ended June 30, 2025 Guanacevi Bolanitos Tonnes processed 96,834 88,098 Tonnes per day 1,064 968 Silver ounces produced 997,875 105,223 Silver grade grams per tonne 362 45 Silver recovery 88.6% 82.4% Gold ounces produced 3,562 4,193 Gold grade grams per tonne 1.28 1.68 Gold recovery 89.7% 88.3% Silver Equivalent ounces produced(1, 2) 1,282,853 440,678 Totals may not add up due to rounding Production Tables for the Three Months Ended June 30, 2025 for the Peru Mine Two Months3 Ended June 30, 2025 Kolpa Tonnes processed 118,896 Tonnes per day 1,949 Silver ounces produced 380,638 Silver grade grams per tonne 111 Silver recovery % 89.4% Lead tonnes produced 3,503 Lead grade % 3.13% Lead recovery % 94.2% Zinc tonnes produced 2,316 Zinc grade % 2.25% Zinc recovery % 86.4% Copper tonnes produced 58 Copper grade % 0.22% Copper recovery % 22% Silver Equivalent ounces produced(1,2) 805,032 3 The Kolpa acquisition closed on May 1, 2025, therefore two months of results are included in the second quarter consolidated results. Totals may not add up due to rounding Terronera Update The commissioning and ramp-up of Terronera continues to progress steadily, with plant throughput gradually increasing as operational bottlenecks and system issues are identified and resolved. In June, throughput averaged 1,232 tonnes per day (tpd), with a peak single-day throughput of 1,987 tpd. Notably, throughput stabilized in the second half of the month, with daily production averaging 1,400 tpd. After successfully processing lower-grade material to address bottlenecks and system issues, the plant has now shifted its focus to refining operations, including processing higher grade ore to achieve planned metal recoveries. Management expects to gradually ramp up throughput to design capacity in early Q3. During commissioning of the plant, the underground mine has continued with mine development and stope preparation. Surface stockpiles are limited and at capacity at this time. As of the end of June, Terronera had produced and sold a cumulative 598 tonnes of concentrate, generating approximately $3 million in revenue. About Endeavour Silver Endeavour is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and Peru, and the development of its new cornerstone mine, Terronera, 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 producer. Qualified Person Dale Mah, Vice President Corporate Development, a qualified person under NI 43-101, has approved the scientific and technical information related to operations matters in this news release. Q2 2025 Financial Results and Conference Call Q2 2025 financial results will be released before market open on Wednesday August 13, 2025, and Management will host a conference call the same day at 10:00 a.m. PT / 1:00 p.m. ET to discuss the results. Date: Wednesday August 13, 2025 Time: 10:00am PT / 1:00pm ET Telephone: Canada & US + 1-833-752-3348 International + 1-647-846-2804 Replay: Canada & US +1- 855-669-9658 International +1-412-317-0088 Access code is 6575935; audio replay will be available on the Company's website Contact Information Allison PettitDirector, Investor RelationsEmail: apettit@ Website: Cautionary Note Regarding Forward-Looking Statements This news release contains 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and 'forward-looking information' within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding Endeavour's preparation to bring Terronera into production and timing related thereto; output trends and integration at Kolpa, Kolpa's contribution to Endeavour's long-term growth strategy and Endeavour's anticipated performance for upcoming financial quarters. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to unexpected changes in production and costs guidance; the ongoing effects of inflation and supply chain issues on the Terronera Project economics; changes in national and local governments' legislation, taxation, controls, regulations and political or economic developments in Canada, Chile, the USA, Mexico and Peru; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining (including, but not limited to environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding); inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining inputs and labour; the speculative nature of mineral exploration and development; diminishing quantities or grades of mineral reserves as properties are mined; risks in obtaining necessary licenses and permits; fluctuations in the prices of silver and gold; fluctuations in currency markets (particularly the Mexican peso, Peruvian sol, Chilean peso, Canadian dollar and U.S. dollar); and challenges to the Company's title to properties; as well as those factors described in the section 'Risk Factors' contained in the Company's most recent form 40F/Annual Information Form and the Prospectus Supplement Dated April 3, 2025 filed with the S.E.C. and Canadian securities regulatory authorities. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company's mining operations, no material adverse change in the market price of commodities, forecasted mine economics, mining operations will operate and the mining products will be completed in accordance with management's expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or in to access your portfolio
Yahoo
13-05-2025
- Business
- Yahoo
Endeavour Silver Announces Q1 2025 Financial Results; Earnings Call at 10AM PDT (1PM EDT) Today
VANCOUVER, British Columbia, May 13, 2025 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. ('Endeavour' or the 'Company') (NYSE: EXK; TSX: EDR) announces its financial and operating results for the three months ended March 31, 2025. All dollar amounts are in US dollars ($). 'We're pleased to report another strong quarter, with production tracking well against plan,' said Dan Dickson, Chief Executive Officer. 'Our revenue performance was bolstered by higher realized prices, highlighting the strength of our portfolio. We continue to generate solid mine operating cash flow, underpinned by disciplined cost control and a relentless focus on operational excellence. With robust liquidity, the addition of the Kolpa project, and Terronera coming online soon, we are well positioned to drive sustainable growth and deliver long-term value for our shareholders.' Q1 2025 Highlights Steady Production in Line with Plan: 1,205,793 ounces ('oz') of silver and 8,338 oz of gold for 1.9 million oz silver equivalent ('AgEq')(1). Strong Revenue From Higher Realized Prices: $63.5 million from the sale of 1,223,684 oz of silver and 8,538 oz of gold at average realized prices of $31.99 per oz silver and $2,903 per oz gold. Mine Operating Cash Flow: $8.3 million in operating cash flow before working capital changes(2), a decrease of 18% from Q1 2024. Operating Costs: Cash costs(2) of $15.89 per oz payable silver and all-in sustaining costs(2) of $24.48 per oz, net of gold credits. Cash costs(2) and all-in sustaining costs were slightly below guidance primarily due to a higher gold by-product credit. Strong Liquidity: Cash position of $64.7 million and working capital(2) of $14.8 million. Cash decreased from December 31, 2024, as the Company continued investing in development activities at the Terronera project (the 'Terronera Project'). Completed Acquisition of Minera Kolpa: Subsequent to the quarter end, the Company completed the acquisition of Compañía Minera Kolpa S.A. ('Minera Kolpa') and its main asset, the Huachocolpa Uno Mine (the 'Acquisition') and concurrently closed the US$35 million copper stream with Versamet Royalties Corporation (See news release dated May 1, 2025 here). Closed the Bought Deal Equity Financing: Subsequent to the quarter end, the Company closed a $50 million bought deal equity financing, used to fund the cash component of Minera Kolpa, (as announced in the Endeavour news release dated April 16, 2025 here). Financial Overview Q1 2025 Highlights Three Months Ended March 31 2025 2024 % Change Production Silver ounces produced 1,205,793 1,460,006 (17%) Gold ounces produced 8,338 10,133 (18%) Payable silver ounces produced 1,193,358 1,450,308 (18%) Payable gold ounces produced 8,188 9,948 (18%) Silver equivalent ounces produced(1) 1,872,833 2,270,677 (18%) Cash costs per silver ounce(2) 15.89 13.19 20% Total production costs per ounce(2) 24.23 18.90 28% All-in sustaining costs per ounce(2) 24.48 21.44 14% Processed tonnes 209,507 221,794 (6%) Direct operating costs per tonne(2) 142.72 134.97 6% Direct costs per tonne(2) 207.27 181.77 14% Financial Revenue ($ millions) 63.5 63.7 (0%) Silver ounces sold 1,223,684 1,756,094 (30%) Gold ounces sold 8,538 10,880 (22%) Realized silver price per ounce 31.99 23.47 36% Realized gold price per ounce 2,903 2,114 37% Net earnings (loss) ($ millions) (32.9) (1.2) (2,656%) Adjusted net earnings (loss)(2) ($ millions) (0.2) 0.3 n/a Mine operating earnings ($ millions) 12.8 11.7 10% Mine operating cash flow before taxes ($ millions)(2) 22.1 20.6 7% Operating cash flow before working capital changes(2) 8.3 10.2 (18%) EBITDA(2) ($ millions) (18.1) 13.5 (234%) Adjusted EBITDA(2) ($ millions) 15.1 16.1 (6%) Working capital(2) ($ millions) 14.8 56.4 (74%) Shareholders Earnings (loss) per share – basic ($) (0.13) (0.01) (1,200%) Adjusted earnings (loss) per share – basic ($)(2) (0.00) 0.00 0% Operating cash flow before working capital changes per share(2) 0.03 0.04 (25%) Weighted average shares outstanding 262,323,863 227,503,581 15% (1) Silver equivalent (AgEq) is calculated using an 80:1 Ag:Au ratio. (2) These are non-IFRS financial measures and ratios. Further details on these non-IFRS financial measures and ratios are provided at the end of this press release and in the MD&A accompanying the Company's financial statements, which can be viewed on the Company's website, on SEDAR+ at and on EDGAR at Direct operating costs per tonne in Q1 2025 increased to $142.72, 6% higher compared with $134.97 in Q1 2024 caused by 6% lower throughput while total direct operating costs remained in line with Q1 2024. Consolidated cash costs per oz, net of by-product credits, increased 20% to $15.89 driven by 17% lower silver ounces produced and 8% higher in direct costs, offset by 8% higher by-product gold sales. All-In-Sustaining Costs ('AISC') in Q1 2025 was $24.48 per silver ounce, 14% higher than Q1 2024 due to the 17% lower production of silver ounces, partially offset by an 1% lower cash costs. In Q1 2025, the Company's mine operating earnings were $12.8 million (Q1 2024 – $11.7 million) from revenue of $63.5 million (Q1 2024 – $63.7 million) and cost of sales of $50.7 million (Q1 2024 – $52.1 million). The lower cost of sales were driven by the 30% lower ounces sold during the period compared to the same period in 2024. Realized silver price was $31.99 per oz for the quarter, 36% higher than the same period in 2024 and the realized gold price was $2,903 or 37% higher compared to Q1 2025. Higher realized prices have offset the impact of lower ounces sold on revenue. Silver and gold ounces sold decreased primarily due to the lower production of gold compared to Q1 2024. In Q1 2025, the Company had operating earnings of $4.0 million (Q1 2024 – $3.3 million) after exploration, evaluation and development costs of $4.5 million (Q1 2024 – $4.3 million), and general and administrative expense of $4.3 million (Q1 2024 – $4.0 million). Exploration costs increased during the first quarter as the Company ramped up activities at Pitarrilla. The loss before taxes for Q1 2025 was $27.8 million (Q1 2024 – earnings of $4.2 million) after loss on derivative contracts of $31.9 million (Q1 2024 – $nil), a foreign exchange loss of $1.0 million (Q1 2024 – gain of $1.2 million), investment and other income of $1.5 million (Q1 2024 – investments and other expense of $nil), and finance costs of $0.4 million (Q1 2024 – $0.3 million). The Company realized a net loss for the period of $32.9 million (Q1 2024 – net loss of $1.2 million) after an income tax expense of $5.1 million (Q1 2024 – income tax expense of $5.4 million). The deferred tax recovery was realized as a result of recognizing previously unutilized losses during the period. Adjusted net loss was $0.2 million in Q1 2025, compared to adjusted earnings of $0.3 million in Q1 2024, while adjusted earnings per share remained steady at $0.00. This news release should be read in conjunction with the Company's condensed consolidated interim financial statements for the period ended March 31, 2025, and associated Management's Discussion and Analysis ('MD&A') which are available on the Company's website, on SEDAR+ at and on EDGAR at Conference Call Management will host a conference call to discuss the Company's Q1 2025 financial results today at 10:00am Pacific (PST)/ 1:00pm Eastern (EST). Date: Tuesday, May 13, 2025 Time: 10:00am Pacific (PDT) / 1:00pm Eastern (EDT) Telephone: Canada & US +1-833-752-3348 International +1-647-846-2804 Replay: Canada/US Toll Free +1-855-669-9658 International +1-412-317-0088 Access code is 2198664 To access the replay using an international dial-in number, please click here. The replay will also be available on the Company's website at About Endeavour Silver – Endeavour is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and Peru, 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 producer. Contact InformationAllison Pettit, Director Investor Relations Tel: (877) 685 - 9775Email: apettit@ Website: Endnotes 1 Silver equivalent (AgEq) AgEq is calculated using an 80:1 Ag:Au ratio. 2 Non-IFRS and Other Financial Measures and Ratios Certain non-IFRS and other non-financial measures and ratios are included in this press release, including cash costs per silver ounce, total production costs per ounce, all-in costs per ounce, AISC per ounce, direct operating costs per tonne, direct costs per tonne, silver co-product cash costs, gold co-product cash costs, realized silver price per ounce, realized gold price per ounce, adjusted net earnings (loss) adjusted net earnings (loss) per share, mine operating cash flow before taxes, working capital, operating cash flow before working capital adjustments, operating cash flow before working capital changes per share, earnings before interest, taxes, depreciation and amortization ('EBITDA'), adjusted EBITDA per share, sustaining and growth capital and adjusted net earnings (loss). Please see the March 31, 2025 MD&A for explanations and discussion of these non-IFRS and other non-financial measures and ratios. The Company believes that these measures and ratios, in addition to conventional measures and ratios prepared in accordance with International Financial Reporting Standards ('IFRS'), provide management and investors an improved ability to evaluate the underlying performance of the Company. The non-IFRS and other non-financial measures and ratios are intended to provide additional information and should not be considered in isolation or as a substitute for measures or ratios of performance prepared in accordance with IFRS. These measures and ratios do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers. Certain additional disclosures for these non-IFRS measures have been incorporated by reference and can be found in the section 'Non-IFRS Measures' in the March 31, 2025 MD&A available on SEDAR at Reconciliation of Working Capital Expressed in thousands of US dollars As at March 31, 2025 As at December 31, 2024 Current assets $120,626 $157,647 Current liabilities 105,827 78,866 Working capital $14,799 $78,781 Reconciliation of Adjusted Net Earnings (Loss) and Adjusted Net Earnings (Loss) Per Share Expressed in thousands of US dollars Three Months Ended March 31 (except for share numbers and per share amounts) 2025 2024 Net earnings (loss) for the period per financial statements ($32,907) ($1,194) Unrealized foreign exchange (gain) loss 275 136 (Gain) loss on derivatives 31,931 - Change in fair value of investments (143) 861 Change in fair value of cash settled DSUs 638 465 Adjusted net earnings (loss) ($206) $268 Basic weighted average share outstanding 262,323,863 227,503,581 Adjusted net earnings (loss) per share ($0.00) $0.00 Reconciliation of Mine Operating Cash Flow Before Taxes Expressed in thousands of US dollars Three Months Ended March 31 2025 2024 Mine operating earnings per financial statements $12,842 $11,656 Share-based compensation 34 79 Depreciation 9,206 8,877 Mine operating cash flow before taxes $22,082 $20,612 Reconciliation of Operating Cash Flow Before Working Capital Changes and Operating Cash Flow Before Working Capital Changes Per Share Expressed in thousands of US dollars Three Months Ended March 31 (except for per share amounts) 2025 2024 Cash from (used in) operating activities per financial statements $3,363 $4,583 Net changes in non-cash working capital per financial statements (4,985) (5,651) Operating cash flow before working capital changes $8,348 $10,234 Basic weighted average shares outstanding 262,323,863 227,503,581 Operating cash flow before working capital changes per share $0.03 $0.04 Reconciliation of EBITDA and Adjusted EBITDA Expressed in thousands of US dollars Three Months Ended March 31 2025 2024 Net earnings (loss) for the period per financial statements ($32,907) ($1,194) Depreciation – cost of sales 9,206 8,877 Depreciation – exploration, evaluation and development 250 159 Depreciation – general & administration 105 99 Finance costs 184 135 Current income tax expense (recovery) 5,279 5,667 Deferred income tax expense (recovery) (214) (233) EBITDA ($18,097) $13,510 Share based compensation 516 1,170 Unrealized foreign exchange (Gain) loss 275 136 (Gain) loss on derivatives 31,931 - Change in fair value of investments (143) 861 Change in fair value of cash settled DSUs 638 465 Adjusted EBITDA $15,120 $16,142 Basic weighted average shares outstanding 262,323,863 227,503,581 Adjusted EBITDA per share $0.06 $0.07 Reconciliation of Cash Cost Per Silver Ounce, Total Production Costs Per Ounce, Direct Operating Costs Per Tonne, Direct Costs Per Tonne Expressed in thousands of US dollars Three months endedMarch 31, 2025 Three months endedMarch 31, 2024 Guanaceví Bolañitos Total Guanaceví Bolañitos Total Direct production costs per financial statements $25,444 $9,729 $35,173 $26,886 $9,819 $36,705 Purchase of the third-party material (5,866) - (5,866) (2,392) - (2,392) Smelting and refining costs included in revenue - 436 436 - 493 493 Opening finished goods (5,448) (485) (5,933) (7,137) (699) (7,836) Closing finished goods 4,763 1,328 6,091 2,314 651 2,965 Direct operating costs 18,893 11,008 29,901 19,671 10,264 29,935 Purchase of the third-party material 5,866 - 5,866 2,392 - 2,392 Royalties 6,066 177 6,243 6,332 76 6,408 Special mining duty (1) 984 431 1,415 1,521 60 1,581 Direct costs 31,809 11,616 43,425 29,916 10,400 40,316 By-product gold sales (12,791) (11,992) (24,783) (10,731) (12,265) (22,996) Opening gold inventory fair market value 3,185 772 3,957 2,909 619 3,528 Closing gold inventory fair market value (2,232) (1,410) (3,642) (871) (851) (1,722) Cash costs net of by-product 19,971 (1,014) 18,957 21,223 (2,097) 19,126 Depreciation 6,569 2,637 9,206 5,815 3,062 8,877 Share-based compensation 20 14 34 62 17 79 Opening finished goods depreciation (1,188) (92) (1,280) (1,459) (197) (1,656) Closing finished goods depreciation 1,618 384 2,002 770 219 989 Total production costs $26,990 $1,929 $28,919 $26,411 $1,004 $27,415 Three months ended March 31, 2025 Three months ended March 31, 2024 Guanaceví Bolañitos Total Guanaceví Bolañitos Total Throughput tonnes 102,438 107,069 209,507 115,004 106,790 221,794 Payable silver ounces 1,012,281 181,077 1,193,358 1,331,735 118,573 1,450,308 Cash costs per silver ounce $19.73 ($5.60) $15.89 $15.94 ($17.69) $13.19 Total production costs per ounce $26.66 $10.65 $24.23 $19.83 $8.47 $18.90 Direct operating costs per tonne $184.43 $102.81 $142.72 $171.05 $96.11 $134.97 Direct costs per tonne $310.52 $108.49 $207.27 $260.13 $97.39 $181.77 (1) Special mining duty is an EBITDA royalty tax presented as a current income tax in accordance with IFRS. Reconciliation of All-In Costs Per Ounce and AISC per ounce Expressed in thousands of US dollars Three Months Ended March 31, 2025 Three Months Ended March 31, 2024 Guanaceví Bolañitos Total Guanaceví Bolañitos Total Cash costs net of by-product $19,971 ($1,014) $18,957 $21,223 ($2,097) $19,126 Operations share-based compensation 20 14 34 62 17 79 Corporate general and administrative 2,676 1,080 3,756 2,204 801 3,005 Corporate share-based compensation 294 119 413 690 250 940 Reclamation - amortization/accretion 148 85 233 102 77 179 Mine site expensed exploration 270 174 444 122 314 436 Equipment loan payments 0 0 0 128 220 348 Capital expenditures sustaining 3,446 1,925 5,371 4,716 2,266 6,982 All-In-Sustaining Costs $26,826 $2,382 $29,208 $29,247 $1,848 $31,095 Growth exploration, evaluation and development 3,775 3,524 Growth capital expenditures 36,214 37,905 All-In-Costs $69,197 $72,524 Three Months Ended March 31, 2025 Three Months Ended March 31, 2024 Guanaceví Bolañitos Total Guanaceví Bolañitos Total Throughput tonnes 102,438 107,069 209,507 115,004 106,790 221,794 Payable silver ounces 1,012,281 181,077 1,193,358 1,331,735 118,573 1,450,308 Silver equivalent production (ounces) 1,334,447 538,386 1,872,833 1,665,648 605,028 2,270,677 All-in-Sustaining cost per ounce $26.50 $13.16 $24.48 $21.96 $15.59 $21.44 Reconciliation of Sustaining Capital and Growth Capital Expressed in thousands of US dollars Three Months Ended March 31 2025 2024 Capital expenditures sustaining $5,371 $6,982 Growth capital expenditures 36,214 37,905 Property, plant and equipment expenditures per Consolidated Statement of Cash Flows $41,585 $44,887Expressed in thousands of US dollars Three Months Ended March 31 2025 2024 Mine site expensed exploration $444 $436 Growth exploration, evaluation and development 3,775 3,524 Total exploration, evaluation and development 4,219 3,960 Exploration, evaluation and development depreciation 250 159 Exploration, evaluation and development share-based compensation 69 151 Exploration, evaluation and development expense $4,538 $4,270 Reconciliation of Realized Silver Price Per Ounce and Realized Gold Price Per Ounce Expressed in thousands of US dollars Three Months Ended March 31 2025 2024 Gross silver sales $39,151 $41,222 Silver ounces sold 1,223,684 1,756,094 Realized silver price per ounce $31.99 $23.47Expressed in thousands of US dollars Three Months Ended March 31 2025 2024 Gross gold sales $24,783 $22,996 Gold ounces sold 8,538 10,880 Realized gold price per ounce $2,903 $2,114 Cautionary Note Regarding Forward-Looking Statements This news release contains 'forward-looking statements' within the meaning of the United States private securities litigation reform act of 1995 and 'forward-looking information' within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the development and financing of the Terronera Project including: anticipated timing of the projectfuture payments in connection with acquisition; the Company's ability to further drawdown on the Debt Facility, estimated project economics, Terronera's forecasted operations, costs and expenditures,; the Company's exploration programs, extensions of mineralisation and publishing of future resource estimates; and the timing and results of various related activities, Endeavour's anticipated performance in 2024 including changes in mining operations and forecasts of production levels, anticipated production costs and all-in sustaining costs and the timing and results of various activities. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to unexpected changes in production and costs guidance; the ongoing effects of inflation and supply chain issues on minethe Terronera Project economics; fluctuations in the prices of silver and gold; fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar, Peruvian sol, and U.S. dollar); fluctuations in interest rates; effects of inflation; changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada, Peru and Mexico; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining (including, but not limited to environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding); inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining inputs and labour; the speculative nature of mineral exploration and development; diminishing quantities or grades of mineral reserves as properties are mined; r risks in obtaining necessary licenses and permits; satisfaction of conditions precedent to drawdown under the Debt Facility; the ongoing effects of inflation and supply chain issues on the Terronera Project economics; fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar and U.S. dollar); and challenges to the Company's title to properties; as well as those factors described in the section 'risk factors' contained in the Company's most recent form 40F/Annual Information Form and the Prospectus Supplement Dated April 3, 2025 filed with the S.E.C. and Canadian securities regulatory authorities. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company's mining operations, no material adverse change in the market price of commodities, forecasted mine economics, mining operations will operate and the mining products will be completed in accordance with management's expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-05-2025
- Business
- Yahoo
Endeavour Silver Announces Q1 2025 Financial Results; Earnings Call at 10AM PDT (1PM EDT) Today
VANCOUVER, British Columbia, May 13, 2025 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. ('Endeavour' or the 'Company') (NYSE: EXK; TSX: EDR) announces its financial and operating results for the three months ended March 31, 2025. All dollar amounts are in US dollars ($). 'We're pleased to report another strong quarter, with production tracking well against plan,' said Dan Dickson, Chief Executive Officer. 'Our revenue performance was bolstered by higher realized prices, highlighting the strength of our portfolio. We continue to generate solid mine operating cash flow, underpinned by disciplined cost control and a relentless focus on operational excellence. With robust liquidity, the addition of the Kolpa project, and Terronera coming online soon, we are well positioned to drive sustainable growth and deliver long-term value for our shareholders.' Q1 2025 Highlights Steady Production in Line with Plan: 1,205,793 ounces ('oz') of silver and 8,338 oz of gold for 1.9 million oz silver equivalent ('AgEq')(1). Strong Revenue From Higher Realized Prices: $63.5 million from the sale of 1,223,684 oz of silver and 8,538 oz of gold at average realized prices of $31.99 per oz silver and $2,903 per oz gold. Mine Operating Cash Flow: $8.3 million in operating cash flow before working capital changes(2), a decrease of 18% from Q1 2024. Operating Costs: Cash costs(2) of $15.89 per oz payable silver and all-in sustaining costs(2) of $24.48 per oz, net of gold credits. Cash costs(2) and all-in sustaining costs were slightly below guidance primarily due to a higher gold by-product credit. Strong Liquidity: Cash position of $64.7 million and working capital(2) of $14.8 million. Cash decreased from December 31, 2024, as the Company continued investing in development activities at the Terronera project (the 'Terronera Project'). Completed Acquisition of Minera Kolpa: Subsequent to the quarter end, the Company completed the acquisition of Compañía Minera Kolpa S.A. ('Minera Kolpa') and its main asset, the Huachocolpa Uno Mine (the 'Acquisition') and concurrently closed the US$35 million copper stream with Versamet Royalties Corporation (See news release dated May 1, 2025 here). Closed the Bought Deal Equity Financing: Subsequent to the quarter end, the Company closed a $50 million bought deal equity financing, used to fund the cash component of Minera Kolpa, (as announced in the Endeavour news release dated April 16, 2025 here). Financial Overview Q1 2025 Highlights Three Months Ended March 31 2025 2024 % Change Production Silver ounces produced 1,205,793 1,460,006 (17%) Gold ounces produced 8,338 10,133 (18%) Payable silver ounces produced 1,193,358 1,450,308 (18%) Payable gold ounces produced 8,188 9,948 (18%) Silver equivalent ounces produced(1) 1,872,833 2,270,677 (18%) Cash costs per silver ounce(2) 15.89 13.19 20% Total production costs per ounce(2) 24.23 18.90 28% All-in sustaining costs per ounce(2) 24.48 21.44 14% Processed tonnes 209,507 221,794 (6%) Direct operating costs per tonne(2) 142.72 134.97 6% Direct costs per tonne(2) 207.27 181.77 14% Financial Revenue ($ millions) 63.5 63.7 (0%) Silver ounces sold 1,223,684 1,756,094 (30%) Gold ounces sold 8,538 10,880 (22%) Realized silver price per ounce 31.99 23.47 36% Realized gold price per ounce 2,903 2,114 37% Net earnings (loss) ($ millions) (32.9) (1.2) (2,656%) Adjusted net earnings (loss)(2) ($ millions) (0.2) 0.3 n/a Mine operating earnings ($ millions) 12.8 11.7 10% Mine operating cash flow before taxes ($ millions)(2) 22.1 20.6 7% Operating cash flow before working capital changes(2) 8.3 10.2 (18%) EBITDA(2) ($ millions) (18.1) 13.5 (234%) Adjusted EBITDA(2) ($ millions) 15.1 16.1 (6%) Working capital(2) ($ millions) 14.8 56.4 (74%) Shareholders Earnings (loss) per share – basic ($) (0.13) (0.01) (1,200%) Adjusted earnings (loss) per share – basic ($)(2) (0.00) 0.00 0% Operating cash flow before working capital changes per share(2) 0.03 0.04 (25%) Weighted average shares outstanding 262,323,863 227,503,581 15% (1) Silver equivalent (AgEq) is calculated using an 80:1 Ag:Au ratio. (2) These are non-IFRS financial measures and ratios. Further details on these non-IFRS financial measures and ratios are provided at the end of this press release and in the MD&A accompanying the Company's financial statements, which can be viewed on the Company's website, on SEDAR+ at and on EDGAR at Direct operating costs per tonne in Q1 2025 increased to $142.72, 6% higher compared with $134.97 in Q1 2024 caused by 6% lower throughput while total direct operating costs remained in line with Q1 2024. Consolidated cash costs per oz, net of by-product credits, increased 20% to $15.89 driven by 17% lower silver ounces produced and 8% higher in direct costs, offset by 8% higher by-product gold sales. All-In-Sustaining Costs ('AISC') in Q1 2025 was $24.48 per silver ounce, 14% higher than Q1 2024 due to the 17% lower production of silver ounces, partially offset by an 1% lower cash costs. In Q1 2025, the Company's mine operating earnings were $12.8 million (Q1 2024 – $11.7 million) from revenue of $63.5 million (Q1 2024 – $63.7 million) and cost of sales of $50.7 million (Q1 2024 – $52.1 million). The lower cost of sales were driven by the 30% lower ounces sold during the period compared to the same period in 2024. Realized silver price was $31.99 per oz for the quarter, 36% higher than the same period in 2024 and the realized gold price was $2,903 or 37% higher compared to Q1 2025. Higher realized prices have offset the impact of lower ounces sold on revenue. Silver and gold ounces sold decreased primarily due to the lower production of gold compared to Q1 2024. In Q1 2025, the Company had operating earnings of $4.0 million (Q1 2024 – $3.3 million) after exploration, evaluation and development costs of $4.5 million (Q1 2024 – $4.3 million), and general and administrative expense of $4.3 million (Q1 2024 – $4.0 million). Exploration costs increased during the first quarter as the Company ramped up activities at Pitarrilla. The loss before taxes for Q1 2025 was $27.8 million (Q1 2024 – earnings of $4.2 million) after loss on derivative contracts of $31.9 million (Q1 2024 – $nil), a foreign exchange loss of $1.0 million (Q1 2024 – gain of $1.2 million), investment and other income of $1.5 million (Q1 2024 – investments and other expense of $nil), and finance costs of $0.4 million (Q1 2024 – $0.3 million). The Company realized a net loss for the period of $32.9 million (Q1 2024 – net loss of $1.2 million) after an income tax expense of $5.1 million (Q1 2024 – income tax expense of $5.4 million). The deferred tax recovery was realized as a result of recognizing previously unutilized losses during the period. Adjusted net loss was $0.2 million in Q1 2025, compared to adjusted earnings of $0.3 million in Q1 2024, while adjusted earnings per share remained steady at $0.00. This news release should be read in conjunction with the Company's condensed consolidated interim financial statements for the period ended March 31, 2025, and associated Management's Discussion and Analysis ('MD&A') which are available on the Company's website, on SEDAR+ at and on EDGAR at Conference Call Management will host a conference call to discuss the Company's Q1 2025 financial results today at 10:00am Pacific (PST)/ 1:00pm Eastern (EST). Date: Tuesday, May 13, 2025 Time: 10:00am Pacific (PDT) / 1:00pm Eastern (EDT) Telephone: Canada & US +1-833-752-3348 International +1-647-846-2804 Replay: Canada/US Toll Free +1-855-669-9658 International +1-412-317-0088 Access code is 2198664 To access the replay using an international dial-in number, please click here. The replay will also be available on the Company's website at About Endeavour Silver – Endeavour is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and Peru, 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 producer. Contact InformationAllison Pettit, Director Investor Relations Tel: (877) 685 - 9775Email: apettit@ Website: Endnotes 1 Silver equivalent (AgEq) AgEq is calculated using an 80:1 Ag:Au ratio. 2 Non-IFRS and Other Financial Measures and Ratios Certain non-IFRS and other non-financial measures and ratios are included in this press release, including cash costs per silver ounce, total production costs per ounce, all-in costs per ounce, AISC per ounce, direct operating costs per tonne, direct costs per tonne, silver co-product cash costs, gold co-product cash costs, realized silver price per ounce, realized gold price per ounce, adjusted net earnings (loss) adjusted net earnings (loss) per share, mine operating cash flow before taxes, working capital, operating cash flow before working capital adjustments, operating cash flow before working capital changes per share, earnings before interest, taxes, depreciation and amortization ('EBITDA'), adjusted EBITDA per share, sustaining and growth capital and adjusted net earnings (loss). Please see the March 31, 2025 MD&A for explanations and discussion of these non-IFRS and other non-financial measures and ratios. The Company believes that these measures and ratios, in addition to conventional measures and ratios prepared in accordance with International Financial Reporting Standards ('IFRS'), provide management and investors an improved ability to evaluate the underlying performance of the Company. The non-IFRS and other non-financial measures and ratios are intended to provide additional information and should not be considered in isolation or as a substitute for measures or ratios of performance prepared in accordance with IFRS. These measures and ratios do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers. Certain additional disclosures for these non-IFRS measures have been incorporated by reference and can be found in the section 'Non-IFRS Measures' in the March 31, 2025 MD&A available on SEDAR at Reconciliation of Working Capital Expressed in thousands of US dollars As at March 31, 2025 As at December 31, 2024 Current assets $120,626 $157,647 Current liabilities 105,827 78,866 Working capital $14,799 $78,781 Reconciliation of Adjusted Net Earnings (Loss) and Adjusted Net Earnings (Loss) Per Share Expressed in thousands of US dollars Three Months Ended March 31 (except for share numbers and per share amounts) 2025 2024 Net earnings (loss) for the period per financial statements ($32,907) ($1,194) Unrealized foreign exchange (gain) loss 275 136 (Gain) loss on derivatives 31,931 - Change in fair value of investments (143) 861 Change in fair value of cash settled DSUs 638 465 Adjusted net earnings (loss) ($206) $268 Basic weighted average share outstanding 262,323,863 227,503,581 Adjusted net earnings (loss) per share ($0.00) $0.00 Reconciliation of Mine Operating Cash Flow Before Taxes Expressed in thousands of US dollars Three Months Ended March 31 2025 2024 Mine operating earnings per financial statements $12,842 $11,656 Share-based compensation 34 79 Depreciation 9,206 8,877 Mine operating cash flow before taxes $22,082 $20,612 Reconciliation of Operating Cash Flow Before Working Capital Changes and Operating Cash Flow Before Working Capital Changes Per Share Expressed in thousands of US dollars Three Months Ended March 31 (except for per share amounts) 2025 2024 Cash from (used in) operating activities per financial statements $3,363 $4,583 Net changes in non-cash working capital per financial statements (4,985) (5,651) Operating cash flow before working capital changes $8,348 $10,234 Basic weighted average shares outstanding 262,323,863 227,503,581 Operating cash flow before working capital changes per share $0.03 $0.04 Reconciliation of EBITDA and Adjusted EBITDA Expressed in thousands of US dollars Three Months Ended March 31 2025 2024 Net earnings (loss) for the period per financial statements ($32,907) ($1,194) Depreciation – cost of sales 9,206 8,877 Depreciation – exploration, evaluation and development 250 159 Depreciation – general & administration 105 99 Finance costs 184 135 Current income tax expense (recovery) 5,279 5,667 Deferred income tax expense (recovery) (214) (233) EBITDA ($18,097) $13,510 Share based compensation 516 1,170 Unrealized foreign exchange (Gain) loss 275 136 (Gain) loss on derivatives 31,931 - Change in fair value of investments (143) 861 Change in fair value of cash settled DSUs 638 465 Adjusted EBITDA $15,120 $16,142 Basic weighted average shares outstanding 262,323,863 227,503,581 Adjusted EBITDA per share $0.06 $0.07 Reconciliation of Cash Cost Per Silver Ounce, Total Production Costs Per Ounce, Direct Operating Costs Per Tonne, Direct Costs Per Tonne Expressed in thousands of US dollars Three months endedMarch 31, 2025 Three months endedMarch 31, 2024 Guanaceví Bolañitos Total Guanaceví Bolañitos Total Direct production costs per financial statements $25,444 $9,729 $35,173 $26,886 $9,819 $36,705 Purchase of the third-party material (5,866) - (5,866) (2,392) - (2,392) Smelting and refining costs included in revenue - 436 436 - 493 493 Opening finished goods (5,448) (485) (5,933) (7,137) (699) (7,836) Closing finished goods 4,763 1,328 6,091 2,314 651 2,965 Direct operating costs 18,893 11,008 29,901 19,671 10,264 29,935 Purchase of the third-party material 5,866 - 5,866 2,392 - 2,392 Royalties 6,066 177 6,243 6,332 76 6,408 Special mining duty (1) 984 431 1,415 1,521 60 1,581 Direct costs 31,809 11,616 43,425 29,916 10,400 40,316 By-product gold sales (12,791) (11,992) (24,783) (10,731) (12,265) (22,996) Opening gold inventory fair market value 3,185 772 3,957 2,909 619 3,528 Closing gold inventory fair market value (2,232) (1,410) (3,642) (871) (851) (1,722) Cash costs net of by-product 19,971 (1,014) 18,957 21,223 (2,097) 19,126 Depreciation 6,569 2,637 9,206 5,815 3,062 8,877 Share-based compensation 20 14 34 62 17 79 Opening finished goods depreciation (1,188) (92) (1,280) (1,459) (197) (1,656) Closing finished goods depreciation 1,618 384 2,002 770 219 989 Total production costs $26,990 $1,929 $28,919 $26,411 $1,004 $27,415 Three months ended March 31, 2025 Three months ended March 31, 2024 Guanaceví Bolañitos Total Guanaceví Bolañitos Total Throughput tonnes 102,438 107,069 209,507 115,004 106,790 221,794 Payable silver ounces 1,012,281 181,077 1,193,358 1,331,735 118,573 1,450,308 Cash costs per silver ounce $19.73 ($5.60) $15.89 $15.94 ($17.69) $13.19 Total production costs per ounce $26.66 $10.65 $24.23 $19.83 $8.47 $18.90 Direct operating costs per tonne $184.43 $102.81 $142.72 $171.05 $96.11 $134.97 Direct costs per tonne $310.52 $108.49 $207.27 $260.13 $97.39 $181.77 (1) Special mining duty is an EBITDA royalty tax presented as a current income tax in accordance with IFRS. Reconciliation of All-In Costs Per Ounce and AISC per ounce Expressed in thousands of US dollars Three Months Ended March 31, 2025 Three Months Ended March 31, 2024 Guanaceví Bolañitos Total Guanaceví Bolañitos Total Cash costs net of by-product $19,971 ($1,014) $18,957 $21,223 ($2,097) $19,126 Operations share-based compensation 20 14 34 62 17 79 Corporate general and administrative 2,676 1,080 3,756 2,204 801 3,005 Corporate share-based compensation 294 119 413 690 250 940 Reclamation - amortization/accretion 148 85 233 102 77 179 Mine site expensed exploration 270 174 444 122 314 436 Equipment loan payments 0 0 0 128 220 348 Capital expenditures sustaining 3,446 1,925 5,371 4,716 2,266 6,982 All-In-Sustaining Costs $26,826 $2,382 $29,208 $29,247 $1,848 $31,095 Growth exploration, evaluation and development 3,775 3,524 Growth capital expenditures 36,214 37,905 All-In-Costs $69,197 $72,524 Three Months Ended March 31, 2025 Three Months Ended March 31, 2024 Guanaceví Bolañitos Total Guanaceví Bolañitos Total Throughput tonnes 102,438 107,069 209,507 115,004 106,790 221,794 Payable silver ounces 1,012,281 181,077 1,193,358 1,331,735 118,573 1,450,308 Silver equivalent production (ounces) 1,334,447 538,386 1,872,833 1,665,648 605,028 2,270,677 All-in-Sustaining cost per ounce $26.50 $13.16 $24.48 $21.96 $15.59 $21.44 Reconciliation of Sustaining Capital and Growth Capital Expressed in thousands of US dollars Three Months Ended March 31 2025 2024 Capital expenditures sustaining $5,371 $6,982 Growth capital expenditures 36,214 37,905 Property, plant and equipment expenditures per Consolidated Statement of Cash Flows $41,585 $44,887Expressed in thousands of US dollars Three Months Ended March 31 2025 2024 Mine site expensed exploration $444 $436 Growth exploration, evaluation and development 3,775 3,524 Total exploration, evaluation and development 4,219 3,960 Exploration, evaluation and development depreciation 250 159 Exploration, evaluation and development share-based compensation 69 151 Exploration, evaluation and development expense $4,538 $4,270 Reconciliation of Realized Silver Price Per Ounce and Realized Gold Price Per Ounce Expressed in thousands of US dollars Three Months Ended March 31 2025 2024 Gross silver sales $39,151 $41,222 Silver ounces sold 1,223,684 1,756,094 Realized silver price per ounce $31.99 $23.47Expressed in thousands of US dollars Three Months Ended March 31 2025 2024 Gross gold sales $24,783 $22,996 Gold ounces sold 8,538 10,880 Realized gold price per ounce $2,903 $2,114 Cautionary Note Regarding Forward-Looking Statements This news release contains 'forward-looking statements' within the meaning of the United States private securities litigation reform act of 1995 and 'forward-looking information' within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the development and financing of the Terronera Project including: anticipated timing of the projectfuture payments in connection with acquisition; the Company's ability to further drawdown on the Debt Facility, estimated project economics, Terronera's forecasted operations, costs and expenditures,; the Company's exploration programs, extensions of mineralisation and publishing of future resource estimates; and the timing and results of various related activities, Endeavour's anticipated performance in 2024 including changes in mining operations and forecasts of production levels, anticipated production costs and all-in sustaining costs and the timing and results of various activities. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to unexpected changes in production and costs guidance; the ongoing effects of inflation and supply chain issues on minethe Terronera Project economics; fluctuations in the prices of silver and gold; fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar, Peruvian sol, and U.S. dollar); fluctuations in interest rates; effects of inflation; changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada, Peru and Mexico; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining (including, but not limited to environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding); inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining inputs and labour; the speculative nature of mineral exploration and development; diminishing quantities or grades of mineral reserves as properties are mined; r risks in obtaining necessary licenses and permits; satisfaction of conditions precedent to drawdown under the Debt Facility; the ongoing effects of inflation and supply chain issues on the Terronera Project economics; fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar and U.S. dollar); and challenges to the Company's title to properties; as well as those factors described in the section 'risk factors' contained in the Company's most recent form 40F/Annual Information Form and the Prospectus Supplement Dated April 3, 2025 filed with the S.E.C. and Canadian securities regulatory authorities. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company's mining operations, no material adverse change in the market price of commodities, forecasted mine economics, mining operations will operate and the mining products will be completed in accordance with management's expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Hamilton Spectator
01-05-2025
- Business
- Hamilton Spectator
Endeavour Silver Completes Acquisition of Minera Kolpa
All dollar amounts are stated in United States (U.S.) Dollars unless otherwise noted. VANCOUVER, British Columbia, May 01, 2025 (GLOBE NEWSWIRE) — Endeavour Silver Corp. ('Endeavour' or the 'Company') (NYSE: EXK; TSX: EDR) is pleased to announce the completion of the acquisition of Compañia Minera Kolpa S.A. ('Minera Kolpa'), and its main asset, the Huachocolpa Uno Mine ('Kolpa'), pursuant to the share purchase agreement (the 'Agreement') previously announced in the Endeavour news release on April 1, 2025 . Under the terms of the Agreement, Endeavour acquired all of the outstanding shares of Minera Kolpa, and its main asset, Kolpa, from its shareholders, which are affiliates of Arias Resource Capital Management and Grupo Raffo. The total consideration for the acquisition is $145 million, comprised of $80 million payable in cash and $65 million payable in common shares of Endeavour upon closing. In addition, as part of the transaction, Endeavour has agreed to pay up to an additional $10 million in contingent payments, payable in cash, upon the occurrence of certain events and will also add approximately $20 million in net debt which will remain outstanding and repayable by Minera Kolpa. The Company is also pleased to announce the closing of the US$35 million copper stream with Versamet Royalties Corporation, which will be used to fund the cash component of the acquisition, along with the $50 million bought deal equity financing, the closing of which was previously announced in the Endeavour news release dated April 16, 2025 . About Kolpa Minera Kolpa is a long-standing, silver-focused mining operation situated in the districts of Huachocolpa and Santa Ana, roughly 490 kilometers southeast of Lima, Peru. With over 25 years of continuous production, Kolpa currently operates at a capacity of 1,800 tonnes per day (tpd) and offers strong exploration upside, with plans underway to expand throughput to 2,500 tpd. In 2024, the mine produced 2.0 million ounces of silver, along with 19,820 tonnes of lead, 12,554 tonnes of zinc, and 518 tonnes of copper, totaling approximately 5.1 million silver-equivalent ounces. In Q1 2025, the mine produced 567,269 ounces of silver, along with 5,302 tonnes of lead, 3,416 tonnes of zinc, and 72 tonnes of copper, totaling approximately 1.2 million silver-equivalent ounces. In April, Kolpa obtained an environmental permit to expand the operations capacity to 2,500 tpd and are now working toward obtaining an operating permit for the increased production capacity expected in Q3 2025. For the remainder of the year, sustaining capital is estimated to be $13 million which includes $4 million expansion of the tailings dam, $3 million has been allocated for mine infrastructure and ramp development and $5 million on various projects. Additionally, management has an $8 million planned exploration program to further define and potentially expand recent near-mine exploration discoveries, target potential extensions of known mineralization and publish a resource estimate. The sustaining capital and exploration expenditures are expected to be paid from operating cash flows. About Endeavour Silver Endeavour is a mid-tier precious metals company with a strong commitment to sustainable and responsible mining practices. With operations in Mexico and Peru, and the development of its new cornerstone mine in Jalisco state, Terronera, 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 producer. Contact Information Allison Pettit Director, Investor Relations Email: apettit@ Cautionary Note Regarding Forward-Looking Statements This news release contains 'forward-looking statements' within the meaning of the United States private securities litigation reform act of 1995 and 'forward-looking information' within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding future payments under the Agreement; the Company's forecasted operations, expenditures; the Company's exploration programs, extensions of mineralization and the publishing of future resource estimates; and the timing and results of various related activities. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such forward-looking statements. Such factors include but are not limited to changes in expected sustaining capital and exploration costs ; the ongoing effects of inflation and supply chain issues on mine economics; ability to continue to comply with the terms of the project debt facility; changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada, Chile, the USA and Mexico; timing and content of work programs; results of exploration activities and development of mineral properties; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development; risks in obtaining necessary licenses and permits; fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the Mexican peso, Chilean peso, Canadian dollar and U.S. dollar) and challenges to the Company's title to properties; as well as those factors described in the section 'risk factors' contained in the Company's most recent form 40F/Annual Information Form and the Prospectus Supplement filed with the S.E.C. and Canadian securities regulatory authorities. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the forecasted capacity and production estimates for the Kolpa mine, the reliability of mineral resource estimates, t he continuation of exploration and mining operations, the continued operation of the Company's mining operations, no material adverse change in the market price of commodities, forecasted mine economics, mining operations will function and the mining products will be completed in accordance with management's expectations and achieve their stated production outcomes, resource and reserve estimates, metal prices and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
