Endeavour Silver (TSX: EDR) this morning released third quarter production results, with the company reporting 1.77 million ounces of silver, and 7,286 ounces of gold were produced in Q3. Silver equivalent production, which includes base metals, totaled 3.0 million ounces.
Silver production is said to have been in line with plan, and 102% higher than Q3 2024 thanks in large part due to the addition of Kolpa, alongside a failure at Guanacevi related to the trunnion in August 2024. Gold production meanwhile was down 37% year over year, due to lower gold grades at Bolanitos, partially offset by improvements at Guanacevi.
Total ounces sold over the course of the quarter include 1.76 million ounces of silver alongside 7,478 ounces of gold, with silver sales up from 1.02 million in Q3 2024, while gold sales were down from 9,412 ounces.
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Year to date, Endeavour has seen 7.44 million silver equivalent ounces of production, a 23% improvement improvement on a year over year basis from 6.05 million ounces. Silver ounces sold meanwhile has improved 3% from 3.99 million ounces to 4.11 million ounces, while gold sales have declined 21%, dropping from 30,179 ounces to 23,722 ounces.
Endeavour also indicated that the ramp up to commercial production continues at Terronera, with the mine averaging 1,595 tonnes per day throughput in August, which grew to to 1,866 tonnes per day from September 1 through to September 23. Operations were halted on September 24 however as a result of a circuit electrical problem at the SAG mill, with the plant offline for six days while repairs were made. Operations then resumed on September 30. The mine in Q3 produced 212,043 ounces of silver and 6,256 ounces of gold, with average grades of 64 g/t silver and 2.08 g/t gold and recoveries of 70.7% for silver and 64.2% for gold.
Full financial results are scheduled to be released November 7 before markets open.
Endeavour Silver last traded at $10.81 on the TSX.
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