Endeavour Silver has released its production guidance of 2019, in it the company reports producing 4 million silver ounces and 38,907 ounces of gold.
Endeavour Silver (TSX:EDR, NYSE:EXK) has released its production guidance of 2019, in it the company reports producing 4 million silver ounces and 38,907 ounces of gold.
As quoted from the press release:
For silver equivalent production of 7.1 million oz at an 80:1 silver:gold ratio. Silver production in the fourth quarter, 2019 was 939,511 oz and gold production was 9,578 oz, for silver equivalent production of 1.7 million oz.
Silver and gold production was lower in Q4, 2019 compared to Q4, 2018 due to the suspension of mining operations at the El Cubo mine during the quarter and lower throughput and grades at Bolanitos, partly offset by higher production at Guanacevi and new production at El Compas. The company withdrew its revised guidance in Q4, 2019, silver production missed the low range of revised guidance by 4 percent and gold production missed the low range of revised 2019 production guidance by 2 percent.
Bradford Cooke, Endeavour CEO, commented, “The company’s performance last year was negatively impacted by operating issues at all four mines. We made sweeping changes to the mining operations in Q2 and Q3 and as a result, we are finally seeing production turning around, led by Guanacevi. Endeavour expects higher production at each of its three mines in 2020.”