Endeavour Silver Hits Updated 2024 Production Guidance After Disruption at Guanaceví Mine

Endeavour Silver (TSX:EDR,NYSE:EXK) shared its 2024 production results, reporting output for the period of 4,471,824 ounces of silver and 39,047 ounces of gold, or 7.6 million silver equivalent ounces.

The company met its updated annual production guidance, which it adjusted following operational challenges.

"After operating at reduced capacity due to the Guanaceví trunnion failure in August, and subsequently resuming full capacity in December, we are satisfied with our production performance in Q4 and producing at the top range of our updated production guidance," CEO Dan Dickson said in Thursday's (January 9) press release.

During Q4, Endeavour produced 824,529 ounces of silver and 9,075 ounces of gold, amounting to 1.6 million silver equivalent ounces. Production was lower during the period due to the trunnion failure at Guanaceví in August.

The trunnion was replaced by late November, and full production capacity was restored in December.

The Guanaceví mine operated at reduced capacity for 15 weeks, averaging only 620 metric tons per day due to the trunnion failure. By December, the plant had returned to its designed throughput of 1,200 metric tons per day.

Meanwhile, steady operations at Bolañitos contributed 105,732 silver ounces and 6,453 gold ounces in Q4. The mine's gold output exceeded projections due to higher grades, while its silver output remained below plan due to lower grades.

Endeavour’s consolidated production for 2024 reflects an 11 percent decrease in processed throughput compared to 2023. Silver output dropped by 21 percent, while gold production saw a 3 percent increase.

The company sold 4,645,574 silver ounces and 38,522 gold ounces during the year.

In recent financial developments, Endeavour secured US$73 million through a bought-deal financing in November.

The proceeds are designated for general working capital and for advancing the Pitarrilla project.

In 2025, the company will focus on strengthening its production pipeline while managing risks and costs. The restoration of full production capacity at Guanaceví is expected to support steady output in 2025. Progress continues at Endeavour’s development projects, including the Pitarrilla mine in Mexico, which remains a strategic priority.

Shares of Endeavour are up nearly 100 percent year-on-year, but traded lower this week. The company closed Thursday at C$5.21 on the TSX and opened Friday (January 10) at US$3.60 on the NYSE. American markets were closed Thursday.

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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.