Endeavour Silver (TSX: EDR) reported this morning that in the fourth quarter it managed to produce 1.6 million silver equivalent ounces. Production consisted of 824,529 ounces of silver and 9,075 ounces of gold.
Metal sales during the fourth quarter meanwhile totaled 654,519 ounces of silver and 8,343 ounces of gold.
Fourth quarter production declined 21% on a year over year basis, falling from $5.7 million ounces, which was the result of a fifteen week period of reduced operating capacity due to a trunnion failure at Endeavour’s Guanacevi operation in August. The failure forced the facility to operate at a rate of 620 tonnes per day, half its nameplate capacity of 1,200 tonnes per day, until repairs were completed in mid-December.
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For the full fiscal year, Endeavour saw production of 7.6 million silver equivalent ounces, consisting of 4.47 million silver ounces and 39,047 ounces of gold. Production hit the upper end of revised guidance, which had called for silver equivalent production of 7.3 to 7.6 million ounces. That guidance was based on silver production between 4.4 to 4.6 million ounces, and gold production between 36,000 and 38,000 ounces.
Original guidance had called for 2024 production of 8.1 to 8.8 million silver equivalent ounces, which was based on estimates of 5.3 to 5.8 million ounces of silver and 34,000 to 38,000 ounces of gold being produced. Guidance however was reduced in August following the failures at Guanacevi.
Endeavour Silver last traded at $5.08 on the TSX.
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