Endeavour Silver Reports Q3 Net Loss of $14.1 Million

Endeavour Silver Corp. (TSX:EDR,NYSE:EXK) released its financial results for Q3 2015, commenting that it incurred a net loss of $14.1 million, or $0.14 per share. That’s compared to a net profit of $11.4 million, or $0.11 per share, in the year-ago period.
During the period, the company produced 1,820,282 ounces of silver and 15,319 ounces of gold. Those are increases of 11 and 9 percent, respectively.
Other financial points include:

• Adjusted net loss of 9.3 million (($0.09 per share) compared to $11.4 million ($0.11 per share)
• Adjusted EBITDA(2) increased 93% to $6.9 million
• Cash flow from operations before working capital changes increased 9% to $4.8 million
• Mine operating cash flow before taxes(1) increased 5% to $12.0 million
• Revenue increased 5% to $42.7 million
• Realized silver price decreased 22% to $14.67 per ounce (oz) sold
• Realized gold price decreased 16% to $1,074 per oz sold
• Cash costs (2) decreased 24% to $8.11 per oz silver payable (net of gold credits)
• All-in sustaining costs (AISC) decreased 25% to $15.05 per oz silver payable (net of gold credits)
• On track to significantly beat cash cost and AISC guidance for 2015

Further operational highlights for Q3 are as follows:

• Silver equivalent production increased 10% to 2.9 million oz (at a 70:1 silver: gold ratio)
• Silver oz sold up 50% to 1,844,556 oz
• Gold oz sold up 7% to 14,599 oz
• Bullion inventory at quarter-end included 97,654 oz silver and 223 oz gold
• Concentrate inventory at quarter-end included 95,574 oz silver and 1,460 oz gold
• On track to meet or beat high end of 2015 silver production guidance
• On track to meet lower end of 2015 gold production guidance
• On track to meet higher end of 2015 silver equivalent production guidance

Click here to read the full Endeavour Silver Corp. (TSX:EDR,NYSE:EXK) press release.