Endeavour Silver Corp. - EXK STOCK NEWS

Endeavour Silver Corp. (NYSE: EXK) reported a strong Q1 2021 with net earnings of $12.2 million or $0.08 per share, rebounding from a loss of $15.9 million in Q1 2020. Revenue surged 58% to $34.5 million, driven by increased metal production and higher prices. Silver production rose 22% to 1,039,710 oz while gold production increased by 31% to 10,894 oz. The company's cash position improved significantly to $86.0 million, marking a 473% growth. However, operating costs slightly increased, and an impairment reversal of $16.8 million was noted from the El Cubo asset sale.

Endeavour Silver has announced promising results from its 2021 exploration drill program at the Guanacevi Mine in Mexico, targeting the El Curso orebody. Significant findings include up to 3,764 gpt silver equivalent over a 2.6 m width. The ongoing exploration seeks to connect El Curso with nearby orebodies, potentially forming a continuous orebody spanning 1,500 m by 400 m. This could enhance production capabilities, given its historical performance with the Porvenir Norte orebody. The future prospects for the Guanacevi Mine appear highly positive.

Endeavour Silver Corp. (NYSE: EXK) has successfully finalized the sale of the El Cubo Mine to VanGold Mining Corp. for a total of $15 million, including cash and shares, along with potential future contingent payments of up to $3 million. The payment structure includes $7.5 million in cash, $5 million in VanGold shares, and a $2.5 million promissory note. Endeavour now holds approximately 10.9% of VanGold’s outstanding shares, acquired for long-term investment, and has committed to abstaining from voting these shares for two years.

Endeavour Silver Corp. (NYSE: EXK) reported a robust performance in Q1 2021, producing 1,048,100 ounces of silver and 11,109 ounces of gold, achieving a total of 1.9 million ounces in silver equivalent production. This marks a 22% increase in silver production and a 31% increase in gold production compared to Q1 2020, driven by improved ore grades. The company also announced a definitive agreement to sell the El Cubo mine for $15 million and is on track with its production plans, with several mines exceeding expectations.

Endeavour Silver Corp. (NYSE: EXK) announces significant changes in its board and management structure ahead of its Annual General Meeting on May 12, 2021. Geoff Handley will resign as Chair but remain a Director, while Rex McLennan will become the Lead Independent Director. Bradford Cooke transitions from CEO to Executive Chair, with Dan Dickson taking over as CEO and Christine West as CFO. Cooke emphasized the internal leadership transition reflects the management team's capabilities as the company prepares for growth, particularly with the Terronera project.

Endeavour Silver Corp. has finalized a deal to sell its El Cubo mine in Mexico to VanGold Mining Corp. for $15 million, with an additional $3 million in contingent payments based on production and gold prices. The payment structure includes a non-refundable down payment of $500,000, cash and share payments totaling $12.5 million on closing, and a $2.5 million note due one year post-closing. Endeavour's shares will be added to the S&P/TSX Composite and NYSE Arca Gold Miners Index after market close on March 19, 2021, enhancing visibility and investment opportunities.

VanGold Mining Corp has signed a definitive asset purchase agreement with Endeavour Silver Corp to acquire the El Cubo mine and mill complex, located near Guanajuato, Mexico. The transaction, valued at $15 million, is set to close by the end of March 2021. VanGold plans to refurbish the El Cubo mill and begin processing mineralized material from both the El Cubo and El Pinguico properties, aiming to ramp up to 750 tonnes per day by Q4 2021. A preliminary economic assessment estimates a net present value of $32.9 million for the combined project, with significant inferred resources available.

Endeavour Silver Corp. (NYSE: EXK) announced strong financial results for Q4 and FY 2020, recovering from prior losses. Q4 gross sales reached $61.2 million, up 81% year-over-year, driven by higher silver and gold production at $19.9 million net income ($0.13/share). Full-year gross revenue increased 15% to $140.3 million. Cash costs and all-in sustaining costs decreased significantly to $5.55 and $17.59 per oz silver respectively. The company maintained a healthy cash balance of $61.1 million. Despite challenges from COVID-19, operational improvements led to an increase in free cash flow and continued exploration success.