NEW YORK, August 3, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on Endeavour Silver Corp. (NYSE: EXK). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=EXK
Highlights from our EXK Report include:
- Silver and Gold Production in Q2 2015 - On July 9, 2015, Endeavour Silver Corp. released production results of silver and gold for the second quarter of 2015. The Company posted results from its three operating silver mines in Mexico, namely, the Guanaceví mine in Durango State and the Bolañitos and El Cubo mines in Guanajuato State. As per the release, silver production of the Company at 1,769,741 ounces (oz) was on plan, whereas gold production of 13,047 oz was marginally below plan.
- Year-on-Year Performance - The Company's throughput for the second quarter grew by 10% YoY to 371,745 tonnes. Silver production increased by 6% from 1,669,609 oz in Q2 2014. In contrast, gold production decreased by 14% YoY from 15,131 oz in the prior year quarter. In addition, silver ounces sold in Q2 2015 amounted to 1,912,595 oz, up by 8% YoY. However, gold ounces sold fell by 6% to 13,797 oz. Further, silver equivalent production declined by 2% YoY to 2,683,031 oz.
- Guanaceví Mine Production - As per the release, operating performance at Guanaceví mine continued to exceed management's expectations due to higher than planned ore grades for the year. The Company informed that an underground development heading at the Santa Cruz mine has extended mineralization into a new, very high grade area to the southeast and well outside of the current resource. The mine recorded total production of 108,817 tonnes and 1,196 tonnes per day (tpd) during the quarter. The mine produced 958,581 oz of silver and 1,946 oz of gold.
- Results of Bolañitos Mine - The Bolañitos mine recorded 1,166 tonnes of production per day, with a total production of 106,148 tonnes for the reported quarter. Silver production at the mine amounted to 376,305 oz, whereas, gold production stood at 4,982 oz in Q2 2015. The Company stated that lower quarterly production was planned at the mine in the context of the scheduled production ramp-down to 1,000 tpd.
- Expansion of El Cubo Mine - As per the release, higher quarterly production was planned at the mine in the context of the scheduled production ramp-up to 2,200 tpd. The mine processed 9,106 tonnes through the Bolañitos plant in June for total plant throughput of 59,667 tonnes in June. El cubo produced 1,723 tonnes per day, and a total of 156,780 tonnes in Q2 2015. Silver produced at the mine was recorded at 434,855 oz with gold production amounting to 6,119 oz.
To find out how this influences our rating on Endeavour Silver Corp., read the full report in its entirety here: http://www.aciassociation.com/?c=EXK
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