Endeavour Silver Corp. (TSX: EDR) shared this morning its production update for Q1 2022. The release highlighted a silver equivalent production of 2.0 million ounces, marginally up from Q1 2021’s 1.9 million ounces.
The quarterly production consists of 1.3 million silver ounces and 8,695 gold ounces, compared to last year’s 1.0 million silver ounces and 11,109 gold ounces.
In addition, the firm sold 1.7 million silver ounces and 8,381 gold ounces during the quarter vis-a-vis last year’s 0.6 million silver ounces and 10,663 gold ounces.
“The year is off to a strong start,” said CEO Dan Dickson. “Operationally, Guanacevi [mine] continues to outperform production expectations and Bolañitos [mine] remains steady.”
Specifically, the decrease in gold production is being attributed to the decrease in Bolañitos mine and nil production at El Compas.
Dickinson also said that the addition of the Pitarilla project will also “significantly enhance” its pipeline of growth projects.
The mining company previously announced that it is expecting 2022 annual production to be between 6.7 and 7.6 million silver equivalent ounces.
Endeavour Silver Corp. last traded at $6.15 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.