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Endeavour Silver Corp. (TSX:EDR,NYSE:EXK) announced its results for the second quarter of 2013, noting that compared to the year-ago period, its net earnings fell 133 percent, equivalent to a loss of $0.4 million, while its adjusted earnings amounted to a loss of $2.7 million, a 183-percent decline.
Endeavour Silver Corp. (TSX:EDR,NYSE:EXK) announced its results for the second quarter of 2013, noting that compared to the year-ago period, its net earnings fell 133 percent, equivalent to a loss of $0.4 million, while its adjusted earnings fell 183 percent for a loss of $2.7 million.
However, its silver production rose by 48 percent, to 1,535,873 ounces, while its gold production increased by 159 percent, to 19,914 ounces. The company’s silver equivalent production also rose, hitting 2.61 million ounces for a 76-percent increase.
According to the press release, other financial highlights include:
- EBITDA increased 1% to $16.6 million
- Cash flow from operations before working capital changes decreased 32% to $11.5 million
- Mine operating cash flow(1) increased 8% to $26.1 million
- Revenue increased 76% to $71.3 million on 1,787,571 silver oz sold and 25,477 gold oz sold
- Realized silver price fell 23% to $21.38 per oz sold
- Realized gold price fell 19% to $1,297 per oz sold
- Cash costs of production net of by-product gold credits(1) increased 93% to $10.53 per oz silver
- Cash costs of production on co-product basis were $14.75 per oz silver and $854 per oz gold
- Bullion inventory at quarter-end included 214,068 oz silver and 522 oz gold
- Concentrate inventory at quarter-end included 41,192 oz silver and 798 oz gold
- Cash and equivalents of $22.3 million and working capital of $16.1 million at quarter-end
Click here to read the full Endeavour Silver Corp. (TSX:EDR,NYSE:EXK) press release.
