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Endeavour Silver (NYSE:EXK) -3.7% in Tuesday’s trading after reporting Q2 production of more than 1.3M silver oz and 10,549 gold oz, for silver equivalent output of 2.15M oz, which the company said is tracking to the upper range of full-year guidance of 8.1M-8.8M silver equivalent oz.
But Q2 silver production fell 12% Y/Y, driven primarily by lower silver grades at the Guanaceví mine, while gold output grew 7% from the prior-year period, citing higher gold grades mined at both Guanaceví and Bolañitos.
Q2 silver equivalent oz produced fell 5% Y/Y to 2,156,453 oz; for the six months ended June 30, silver equivalent production also fell 5% Y/Y to 4,427,130 oz.
Endeavour (EXK) said Guanaceví operations are benefiting from the significant plant improvements and modifications made in 2023, as plant throughput and recoveries have been in line with plan and consistent throughout Q2 and YTD 2024.