Endeavour Silver Reports Strong 2024 Silver and Gold Production
Vancouver, Thursday, 9 January 2025.
Endeavour Silver Corp. achieved 2024 production of 4.47 million ounces of silver and 39,047 ounces of gold, showcasing resilience and strategic planning amid challenging conditions.
Production Highlights and Company Overview
Endeavour Silver Corp. (NYSE: EXK; TSX: EDR) [1], a mid-tier precious metals mining company, delivered on its updated annual guidance despite operational challenges in 2024. The company’s total production reached 4,471,824 silver ounces and 39,047 gold ounces, resulting in 7.6 million silver equivalent ounces for the year [1]. The fourth quarter of 2024 contributed significantly with 824,529 silver ounces and 9,075 gold ounces [1].
Operational Challenges and Recovery
The company faced a significant operational hurdle in August 2024 when its Guanaceví facility experienced a trunnion failure, leading to reduced capacity operations. However, the company demonstrated efficient problem-solving by completing the installation of a new trunnion on November 30, 2024, at a total cost of US$400,000 [1]. Full processing capacity resumed on December 1, 2024, marking the end of a 15-week period of reduced operations [1]. This technical challenge resulted in a 41% decrease in Q4 2024 silver production compared to the same period in 2023 [1].
Market Performance and Future Outlook
As of January 8, 2025, Endeavour Silver maintains a market capitalization of $928.62 million [6], with analysts maintaining a consensus ‘Buy’ rating and a price target of $6.63 [5]. The company’s stock performance reflects market confidence in its operational recovery, with Wall Street analysts providing strong support: 4 buy ratings and 1 hold rating [5]. The company’s next financial results for 2024 are scheduled for release on March 11, 2025 [1], which will provide deeper insights into the financial impact of the year’s operational challenges and recoveries.
Strategic Developments and Project Updates
Parallel to its production achievements, Endeavour Silver is advancing its Terronera project, though facing some recent challenges. The project encountered delays in December 2024 due to structural steel delivery issues [2], leading to adjusted timelines with wet commissioning now expected in early Q2 2025 [5]. Despite these challenges, the company maintained strategic cost management, implementing temporary workforce reductions from December 20, 2024, to January 6, 2025 [2]. The company’s proactive approach to project management and operational efficiency continues to support its goal of becoming a premier senior silver producer [2].