Endeavour Silver Corp. (TSX:EDR,NYSE:EXK) announced its financial results for the second quarter of 2014, commenting that it incurred a net loss of $0.3 million, down slightly from $0.4 million in the year-ago quarter.
Its silver production rose 9 percent, to 1,669,609 ounces, while its gold production dropped 24 percent, hitting 15,131 ounces.
Other financial highlights include:
- Adjusted loss of $0.3 million ($0.00 per share) compared to $2.7 million ($0.03 per share)
- EBITDA decreased 20% to $13.4 million
- Cash flow from operations before working capital changes decreased 4% to $11.9 million
- Mine operating cash flow before taxes decreased 25% to $19.6 million
- Revenue decreased 23% to $54.8 million
- Realized silver price decreased 6% to $21.10 per ounce (oz) sold
- Realized gold price increased 1% to $1,308 per oz sold
- Cash costs decreased 6% to $9.87 per oz silver payable (net of gold credits)
- All-in sustaining costs decreased 24% to $20.48 per oz silver payable (net of gold credits)
- Cash and equivalents increased 26% to $44.0 million compared to $35.0 million at year end
Further operational highlights include:
- Silver equivalent production decreased 6% to 2.6 million oz (at a 60:1 silver:gold ratio)
- Bullion inventory at quarter-end included 119,866 silver ounces and 272 gold ounces
- Concentrate inventory at quarter-end included 86,724 silver ounces and 1,266 gold ounces
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