Consolidated Silver Production Increases by 10% in Q2

Endeavour Silver, a mining company with operations in Mexico, reported a 10% growth in consolidated silver production during the second quarter. This increase can be attributed to higher throughput and recoveries achieved in the quarter. The company remains confident that it will meet its guidance of producing between 8.6 million and 9.5 million silver-equivalent ounces.

Factors Driving Increased Silver Production

Endeavour Silver saw a significant boost in consolidated silver production, which rose to 1.5 million ounces in the second quarter of 2023, compared to the same period last year. The primary drivers of this growth were the increased silver production at the Guanacevi mine, thanks to higher throughput and recoveries. However, this increase was offset by a reduction in silver grade.

Impressive Rise in Throughput

Throughput also saw a notable increase, rising by 14% to 228,575 metric tons, up from 201,361 tons in the previous year. This rise in throughput contributed to the overall increase in gold production as well.

Increase in Gold Production

Gold production at Endeavour Silver increased by 6% to 9,819 ounces during the second quarter. This can be attributed to the higher throughput achieved at both the Guanacevi and Bolanitos mines, as well as higher gold grades mined at the Bolanitos mine.

Bolanitos Mine Performance

The Bolanitos mine also experienced some interesting developments. Although throughput for the second quarter was slightly higher compared to the same period last year, silver grades were 17% lower while gold grades were 5% higher. As a result, silver production decreased by 14% while gold production increased by 6%. These changes in grades were typical variations in the ore body.

In conclusion, Endeavour Silver is on track to achieve its production guidance, with consolidated silver production growing by 10% in the second quarter. The company’s focus on higher throughput and recoveries has yielded positive results, setting a promising trajectory for future performance.