Mexico-focused Endeavour Silver said on Monday that its yearly production was trending towards the upper-end of its guidance range for the year, forecasted at 7.6-million to 8-million silver-equivalent ounces.
Consolidated silver production increased 12% year-on-year to 1.46-million ounces in the third quarter, driven by higher output from the Guanacevi mine.
Guanacevi’s throughput was 4% higher than the prior quarter, but lower than planned, owing to heavy rainfall in a short, concentrated period in September. Endeavour said that it was reviewing alternatives to increase throughput above the current 1 200 t/d capacity with changes in grinding size and leach time.
Gold production decreased by 13% to 9 194 oz, mainly owing to lower grades mined at Bolañitos. Increased gold production from Guanacevi offset the gold produced from the El Compas mine, which suspended operations in the third quarter of last year.
“The ore grades processed at Guanacevi continue to exceed plan, which has positioned the company to meet the upper end of our improved production guidance. The outperformance is well timed, as we continue to face financial pressure from lower metal prices and inflationary effects on inputs,” stated CEO Dan Dickson.