Annual silver manufacturing exceeded steerage by 3%, whereas gold manufacturing was in keeping with the higher vary of steerage.
Endeavour presently operates two high-grade underground silver-gold mines in Mexico: Guanacevi and Bolanitos. A 3rd mine, El Compas, had been in operations till its suspension in mid-August.
The upper output in 2021 could be attributed to persevering with sturdy efficiency at Guanacevi, with considerably improved ore grades and throughput that exceeded mine plan, the corporate mentioned.
In the course of the fourth quarter, Endeavour produced a complete of 1,443,564 oz silver and 9,446 oz gold, for two.2 million oz AgEq. The silver manufacturing was 29% increased than the prior-year quarter, with improved manufacturing seen at each Guanacevi and Bolanitos offsetting the output misplaced from El Compas.
Gold manufacturing, nevertheless, decreased by 25% to 9,446 ounces in This autumn on account of a 19% drop in manufacturing at Bolanitos and the suspension of El Compas, which outweighed a 21% enhance in gold manufacturing at Guanacevi.
“Regular efficiency at Bolanitos, along with document mill throughput, grade and manufacturing at Guanacevi, boosted our 2021 consolidated manufacturing past the higher finish of our elevated steerage,” Endeavour CEO Dan Dickson mentioned in a information launch.
Shares of Endeavour Silver climbed 5% by 12:30 p.m. EDT on the TSX, giving the mid-tier valuable metals miner a market capitalization of C$890.1 million ($706.9m).