Endeavour Silver Corp. - EXK STOCK NEWS

Endeavour Silver (TSX: EDR, NYSE: EXK) has successfully completed its previously announced prospectus offering, raising US$72.8 million through the issuance of 15,825,000 common shares at US$4.60 per share. The offering was led by BMO Capital Markets along with a syndicate of underwriters including CIBC World Markets, TD Securities, Ventum Financial Corp., and H.C. Wainwright & Co. The company intends to use the net proceeds to advance its Pitarrilla project in Durango State, Mexico, and for general working capital purposes.

Endeavour Silver provides an update on its Pitarrilla project exploration and evaluation initiatives. The company has extended an underground ramp over 1.3 kilometers and identified four main feeder structures: Palmito, Danna, Victoria, and Casas Blancas veins. Nine diamond drill holes have been completed, confirming management's geological interpretation and potential for underground bulk tonnage mining. The feeder veins show vertical extent of 600-800 meters and strike lengths approaching 700 meters. Engineering firms including SGS Canada, JDS Energy & Mining, and others have been retained to begin preliminary work, aiming for an economic study by end of 2025.

Endeavour Silver (EXK) reported Q3 2024 financial results, with revenue of $53.4 million from selling 1,017,392 oz silver and 9,412 oz gold at average realized prices of $29.63 and $2,528 per oz respectively. Production decreased due to a trunnion failure at Guanaceví mine, resulting in Q3 production of 874,717 silver oz and 9,290 gold oz. The company reported a net loss of $17.3 million but adjusted income of $1.6 million.

The Terronera project reached 77% completion, with $258 million spent of the $271 million budget, remaining on track for commissioning in Q4 2024. The company maintains a cash position of $54.9 million and working capital of $29.4 million.

Endeavour Silver Corp. (NYSE: EXK; TSX: EDR) has provided a Q3 2024 construction progress update for its Terronera Project in Jalisco, Mexico. The project has reached 77% overall completion, with surface mill and infrastructure construction at 90%. Key highlights include:

- $258 million spent to date, with $270 million committed out of the $271 million budget
- Underground development totaling 5,544 metres
- Primary jaw crusher commissioned in August
- Tailing Storage Facility progressing with underdrain embankment fill and pipe installation
- Workforce increased to over 250 Endeavour employees and 800 contract workers

The project is on track to begin commissioning systems near the end of Q4 2024, with focus on installing tailing and concentrate filters, and completing grinding, flotation, and thickening systems.

Endeavour Silver Corp. reported Q3 2024 production of 874,717 silver ounces and 9,290 gold ounces, totaling 1.6 million silver equivalent ounces. Year-to-date production of 6.0 million AgEq ounces is on track to meet 2024 guidance of 7.3-7.6 million AgEq ounces. Production at Guanaceví was impacted by a trunnion failure in the primary ball mill, reducing output in August and September. The company expects full operations to resume in December 2024. Bolañitos results remained consistent with slightly higher gold grades and lower silver grades. Metal sales for Q3 included 1,017,392 silver ounces and 9,412 gold ounces. The company drew down $25 million from its Terronera debt facility during Q3, with a final $35 million drawdown after quarter-end.

Bronstein, Gewirtz & Grossman, is investigating potential claims against Endeavour Silver (NYSE:EXK) on behalf of shareholders. The investigation follows Endeavour's August 12, 2024 announcement of a primary ball mill failure at the Guanacevi mill, leading to a suspension of processing that could last up to 12 weeks. This issue is expected to impact Q3 production and annual production and cost guidance.

Investors who purchased Endeavour securities are encouraged to assist the investigation by visiting bgandg.com/EXK. The law firm represents investors in securities fraud class actions on a contingency fee basis, seeking reimbursement for expenses and attorneys' fees only if successful. Bronstein, Gewirtz & Grossman has a track record of recovering millions for investors nationwide.

Bronstein, Gewirtz & Grossman, is investigating potential claims against Endeavour Silver (NYSE:EXK) on behalf of investors. The investigation follows Endeavour's August 12, 2024 announcement of a primary ball mill failure at the Guanacevi mill, leading to suspended processing and expected impacts on Q3 production and annual production and cost guidance. The downtime could last up to 12 weeks.

Investors who purchased Endeavour securities are encouraged to assist the investigation by visiting bgandg.com/EXK. The law firm operates on a contingency fee basis, seeking reimbursement for expenses and attorneys' fees only if successful. Bronstein, Gewirtz & Grossman, has a track record of recovering millions for investors in securities fraud class actions and shareholder derivative suits.

Endeavour Silver Corp. (NYSE: EXK; TSX: EDR) has provided an update on the Guanacevi mine's primary ball mill trunnion failure reported on August 12, 2024. Processing has resumed at a reduced rate of 400-500 tonnes per day (tpd), about half of the planned 1,200 tpd capacity. The company has implemented temporary solutions, including repurposing a regrind mill as the primary ball mill. Mining operations will continue at a reduced rate, focusing on high-grade ore processing and stockpiling.

The company estimates a cash shortfall of less than US$5 million over a 15-week period. Guanacevi's production is expected to decrease by 0.9-1.1 million silver ounces and 2,000-3,000 gold ounces compared to the original plan. Endeavour has revised its 2024 production forecast to 4.4-4.6 million silver ounces and 36,000-38,000 gold ounces. The trunnion replacement is estimated to cost US$0.5 million with a 16-week installation period. Due to uncertainties, the company has withdrawn its cost guidance for 2024.

Endeavour Silver Corp (NYSE: EXK; TSX: EDR) has reported a significant operational setback at its Guanacevi mill. The trunnion on the primary ball mill has failed, leading to a suspension of material processing. The replacement could take up to 12 weeks. Management is exploring alternatives, including operating at a reduced capacity using smaller regrind mills with minor conveyor modifications. This unexpected downtime is expected to impact Q3 production and potentially affect the company's annual production and cost guidance. Endeavour is currently evaluating the situation and will provide an update once their assessment is complete.