TSX- and NYSE-listed Endeavour Silver Corp, which operates mines in Mexico, has increased its full-year production guidance to between 7.7-million and 8-million silver-equivalent ounces, compared with the previously guided 6.1-million to 7.1-million silver-equivalent ounces.
The increase in guidance reflects the continued strong performance at the company's Guanacevi mine owing to higher-than-expected grades and tonnages milled.
“We are well positioned to exceed our original full-year consolidated production guidance, which has led to the decision to formally revise our annual targets. Our 2021 business plan shows a strong performance, which has resulted in higher production than last year, despite suspending operations at the small El Compas mine.
"This reaffirms an important year of investment into our people and culture programmes to ensure the long-term sustainability of our operations,” comments CEO Dan Dickson.
Endeavour's output increased by 39% year-on-year in the third quarter, primarily driven by a 46% year-on-year increase in silver production at the Guanacevi mine, but offset by the suspension of operations at the El Compas mine.
Gold production increased by 3%, with the Guanacevi mine having achieved a 47% increase in silver-equivalent ounces produced.
Silver and gold production at the Bolanitos mine increased moderately, with an 11% increase in silver production and an 8% increase in gold production.
Guanacevi throughput exceeded plan and mining of the new higher-grade El Curso orebody has led to significantly improved grades and mine plan flexibility, Endeavour Silver reports.
Supplies of local third-party ores continued to supplement mine production, amounting to 10% of quarterly throughput, and contributing to the higher ore grades, it adds.