Endeavour Silver (NYSE:EXK) +1.9% in Friday’s trading after reporting Q2 silver production rose 27% Y/Y to 1.36M oz, for silver equivalent output of 2.1M oz, outpacing full-year guidance of 6.7M-7.6M silver equivalent oz.
The company said the silver output increase was driven primarily by increased production at the Guanacevi mine, where the El Curso orebody has led to significantly higher grades than planned, allowing for production targets to be met during a period of decreased plant throughput.
Q2 gold production fell 17% Y/Y to 9,289 oz, primarily due to lower gold grades mined at the Bolañitos mine.
“First half production results exceeded plan, so we are well positioned to exceed our guidance for the year,” CEO Dan Dickson said, adding that the company expects grades to align with or be slightly above plan for the second half.
Endeavour Silver (EXK) has changed its business model, which has put the miner into “a vulnerable place,” Itinerant writes in a bearish analysis published recently on Seeking Alpha.
Originally Posted on: https://seekingalpha.com/news/3855399-endeavour-silver-says-production-running-ahead-of-guidance?source=feed_tag_commodities