TSX-listed Endeavour Silver had its strongest operational performance in two years during 2020 owing to measures initiated in 2019 to return the Guanacevi and Bolañitos mines, in Mexico, to profitability.
The company’s full-year production met its original guidance, notwithstanding the government-mandated two-month suspension of operations owing to the pandemic.
Silver production totalled 3.5-million ounces and gold production 37 139 oz, with overall silver-equivalent output at 6.5-million ounces.
Subject to a pending feasibility study, appropriate financing and board approval, CEO Bradford Cooke says the company intends to develop its next core asset, the Terronera project, in Jalisco state.
QUARTERLY UPDATE
Silver and gold production for the fourth quarter were higher year-on-year, owing to the continued operational improvements at the Guanacevi and Bolañitos mines.
At Guanacevi, throughput increased by 15% year-on-year, with a 31% increase in silver-equivalent grades processed.
At Bolañitos, quarterly throughput increased by 31%, with an 8% increase in silver-equivalent grades.