Endeavour Silver Corp. (NYSE:EXK, TSE:EDR) released its production results for the third quarter of 2016 from the company’s three operating silver mines in Mexico on Monday, the Guanacevi mine in Durango state, and the Bolanitos and El Cubo mines in Guanajuato state.
Silver production in the third quarter was 1,284,646 ounces (oz) and gold production was 14,364 oz for silver equivalent production of 2.4mln oz using a 75:1 silver gold ratio.
With nine months of production this year totaling 4.4mln oz silver and 46,000 oz gold for 7.8mln oz silver equivalents, consolidated production is well on track to meet full year revised guidance of 5.5-6.0mln oz silver, 49,000-54,000 oz gold and 9.0-9.8mln ounces of silver equivalents.
“Our consolidated production continued to exceed plan in the third quarter. Although our production forecast is lower in H2 than H1, we are well positioned to meet our recently raised production guidance for 2016. We still have available plant capacity at all three mines and are evaluating various ways to boost mine production in 2017,” said Endeavour CEO Bradford Cooke.
“In addition to developing new ore-bodies at Guanacevi and Bolanitos, we currently have eight drill rigs working on five projects to grow our resource base this year. Work continues on both the prefeasibility study for Terronera and a preliminary economic assessment for El Compas for completion by year-end. With the recent addition of the Parral properties to our project pipeline, Endeavour now has one of the strongest organic growth profiles in the silver mining sector,” he added.
Story by ProactiveInvestors