Endeavour Silver (TSX: EDR) saw a decline in its first quarter production on a year over year basis, which is said to have been in line with the production plan.
The company posted first quarter production of 1.9 million silver equivalent ounces, which is down 18% from the 2.3 million silver equivalent ounces produced in the first quarter of 2024. Broken out, silver production fell 17% from 1.4 million ounces to 1.2 million ounces, while gold production declined 18%, falling from 10,133 ounces to 8,338 ounces in the first quarter.
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Production during the quarter came from two mines, with production at Guanacevi said to have been in line with the plan, however grades for both gold and silver were lower than expected. Bolanitos meanwhile saw silver production consistent with expectations, however lower than expected gold grades lead to lower than anticipated gold production.
Sales during the quarter meanwhile came in at 1.2 million silver ounces and 8,538 gold ounces, which declined 30% and 22%, respectively.
First quarter financial results are expected to be released before markets open on May 13.
Endeavour Silver last traded at $4.48 on the TSX.
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