Endeavour Silver Corp. (TSX:EDR,NYSE:EXK) announced its 2015 production results, commenting that its silver production was above guidance, while its gold output was in line with guidance.
2015 production highlights include:
- Silver production was flat year-on-year at 7,178,666 oz
- Gold production decreased 5% to 59,990 oz
- Silver equivalent production was 11.4 million oz (at a 70:1 silver: gold ratio)
- Silver ounces sold totalled 7,301,698 oz
- Gold ounces sold totalled 59,450 oz
- Bullion inventory at year-end included 121,913 oz silver and 317 oz gold
- Concentrate inventory at year-end included 72,583 oz silver and 967 oz gold
Bradford Cooke, CEO and director of Endeavour Silver, commented:
Our mining operations group is to be commended for delivering another solid year of production in 2015. Guanaceví continued to perform better than plan and the completion of the Phase 2 mine expansion from 1,500 tpd to 2,200 tpd at El Cubo was a significant achievement, offsetting the planned lower production from Bolañitos.
As precious metal prices continued their downturn in 2015, our main focus was on maintaining constant production, reducing operating costs and maximizing free cash flow. I am proud of our operating team for their ongoing efforts to reduce our all-in sustaining costs in this difficult environment. We remain committed to the process of continuous improvement at each of our mines.
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