Endeavour Silver Produces 2.1 Million Silver Equivalent Ounces In “Solid” Q2 2022
Endeavour Silver Corp. (TSX: EDR) shared on Friday its production update for Q2 2022. The release highlighted a silver equivalent production of 2.1 million ounces, marginally up from both Q1 2022’s and Q2 2021’s 2.0 million ounces.
The quarterly production consists of 1.4 million silver ounces and 9,289 gold ounces, compared to last quarter’s 1.3 million silver ounces and 8,695 gold ounces and last year’s 1.1 million silver ounces and 11,166 gold ounces.
In addition, the firm sold 0.6 million silver ounces and 9,792 gold ounces during the quarter vis-a-vis last quarter’s 1.7 million silver ounces and 8,381 gold ounces and last year’s 1.1 million silver ounces and 9,810 gold ounces.
“Amid ongoing turmoil in the markets due to supply constraints, continued inflation concerns, and uncertainty from the raising of interest rates from historical lows, we had another solid quarter of production,” said CEO Dan Dickson. “Given our positive view for short-term precious metal prices, we are comfortable holding back bullion inventory over the quarter for future sale.”
Increased silver production at the Guanacevi mine is said to be the contributor to the jump in year-on-year silver production. Meanwhile, the decrease in gold production is primarily due to lower gold grades mined at the Bolañitos mine.
The mining company previously announced that it is expecting 2022 annual production to be between 6.7 and 7.6 million silver equivalent ounces. As of the end of June, the firm has already produced 4.1 million silver equivalent ounces for the first six months of the year.
Endeavour Silver Corp. last traded at $4.07 on the TSX.
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