Endeavour Silver (TSX: EDR) produced 1,943,955 ounces of silver and 10,474 ounces of gold in the second quarter, bringing combined output to 3.4 million silver equivalent ounces once base metals are factored in.
Silver output rose 31% from the 1,483,736 ounces mined a year earlier, while gold climbed 35% from 7,755 ounces. The gains lean heavily on two additions to the portfolio, the Terronera mine, which reached commercial production last October, and Kolpa, acquired in May 2025. The sale of Bolañitos, completed in January, worked in the other direction.
Terronera contributed 608,347 silver ounces and 7,666 gold ounces, running at 1,931 tonnes per day. Recoveries there averaged 85.4% for silver and 72.6% for gold, with silver grades of 126 grams per tonne and gold grades of 1.87 g/t, both in line with plan. The company expects recoveries to improve as mining shifts into higher grade areas in the third quarter.
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Kolpa was the standout operation for the quarter. Following a plant expansion largely commissioned at the end of the first quarter, throughput reached 233,408 tonnes, up from 171,727 tonnes three months earlier. That lifted silver production at the mine to 633,288 ounces from 530,118, a 19% quarterly increase in consolidated silver terms.
Guanaceví processed 100,439 tonnes at recoveries of 92.4% for silver and 92.9% for gold, though lower grades pulled output below plan.
“The continued improvement in Terronera recoveries and the strong contribution from Kolpa position us well as we work to build momentum through the remainder of 2026,” said Chief Executive Officer Dan Dickson.
For the full year, Endeavour is targeting 8.3 to 8.9 million ounces of silver and 46,000 to 48,000 ounces of gold, or 14.6 to 15.6 million silver equivalent ounces across the three mines. Consolidated all-in sustaining costs are guided at $27.00 to $28.00 per ounce, net of by-product credits.
Endeavour Silver last traded at $11.37 on the TSX.
