Endeavour Silver Corp (NYSE: EXK), is a precious metal mining company, stated the company production in Q2 2021 increased significantly compared to the corresponding period last year.
Production outpaces 2021 guidance: The company recently announced the production of precious metals for Q2 2021. The gold production for the period stood at 11,166 oz, and silver production stood at 1,073,724 ounces. For the period ending six months ending June 30, 2021, the management stated that production continues to the guidance of 6.1 – 7.1 million silver ounces and 3.9 million gold oz for 2021. The production during the period under consideration increased compared to the last year. The last year’s production was impacted, as operations were temporarily suspended due to the spread of the COVID-19 pandemic from April 2020 to late May 2020.
Quarter Highlights: As per the Endeavour, silver mining production in each of its mining assets is on track to achieve the guidance given for 2021 or can even exceed the same. During Q2 2021, output was backed by higher grades, and higher throughput from Guanacevi resulted in outpacing the guidance. While at Bolanitos, process metals production was ahead of the plan, partially offset by the decline in ore grades.
The company sold 1,120,266 oz of silver and 9,810 oz of gold during the quarter. Simultaneously, it withheld few quantities as prices declined over the last two weeks in June 2021, expecting that prices will bounce back in the latter part of 2021. In Q2 2021, the company delivered strong operational metrics and exploration activities and moved ahead with the Terronera project to develop activities to complete the project feasibility study in Q3 2021. Additionally, sourcing of third-party ores continued to add to the overall production levels (~10% of quarterly throughput) and supplemented the precious metals’ overall grades. As a key player in the mining industry, the company aims to deliver safe and sustainable production for the community.