Endeavour Silver Reports Guanacevi Primary Ball Mill Trunnion Failure
August 12 2024 - 6:50AM
Endeavour Silver Corp.
(“Endeavour” or the
“Company”) (NYSE: EXK; TSX: EDR) reports
the trunnion on the primary ball mill at the Guanacevi mill has
failed and could take up to 12 weeks to replace. As a result,
processing of material at the Guanacevi mill has been suspended.
Management is assessing several alternatives including operating at
a significantly reduced capacity with minor conveyor modification
using smaller regrind mills until the primary ball mill is
operational.
This downtime will impact Q3 production and is
expected to impact annual production and cost guidance. Management
is conducting an evaluation and analysis this week and will provide
an update as soon as its assessment is complete.
About Endeavour
Silver – Endeavour is a mid-tier
precious metals company with a strong commitment to sustainable and
responsible mining practices. With operations in Mexico and the
development of the new cornerstone mine in Jalisco state, the
company aims to contribute positively to the mining industry and
the communities in which it operates. In addition, Endeavour has a
portfolio of exploration projects in Mexico, Chile and the United
States to facilitate its goal to become a premier senior silver
producer.
Contact InformationAllison Pettit, Director
Investor Relations Tel: (877) 685 - 9775Email:
apettit@edrsilver.com Website: www.edrsilver.com
Follow Endeavour Silver on Facebook, X,
Instagram and LinkedIn
Cautionary Note Regarding Forward-Looking
Statements
This news release contains “forward-looking
statements” within the meaning of the United States private
securities litigation reform act of 1995 and “forward-looking
information” within the meaning of applicable Canadian securities
legislation. Such forward-looking statements and information herein
include but are not limited to statements regarding the suspension
of processing at Guanacevi, timing for completion of repairs at the
Guanacevi mill, the availability and assessment of alternative
processing methods, the impact on Q3 production and annual
production and cost guidance, and Endeavour’s anticipated
performance in 2024 including changes in mining operations and
forecasts of production levels, anticipated production costs and
all-in sustaining costs. The Company does not intend to and does
not assume any obligation to update such forward-looking statements
or information, other than as required by applicable law.
Forward-looking statements or information
involve known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, production
levels, performance or achievements of Endeavour and its operations
to be materially different from those expressed or implied by such
statements. Such factors include but are not limited to the ability
to complete repairs at the Guanacevi mill in a timely manner, the
availability of alternative processing methods, changes in
production and costs guidance; and satisfaction of conditions
precedent to drawdown under the Debt Facility; as well as those
factors described in the section “risk factors” contained in the
Company’s most recent form 40F/Annual Information Form filed with
the S.E.C. and Canadian securities regulatory authorities.
Forward-looking statements are based on
assumptions management believes to be reasonable, including but not
limited to: the ability to complete repairs at the Guanacevi mill
in a timely manner, the availability of alternative processing
methods, the continued operation of the Company’s mining
operations, no material adverse change in the market price of
commodities, forecasted mine economics as of 2024, mining
operations will operate and the mining products will be completed
in accordance with management’s expectations and achieve their
stated production outcomes, and such other assumptions and factors
as set out herein. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements or
information, there may be other factors that cause results to be
materially different from those anticipated, described, estimated,
assessed or intended. There can be no assurance that any
forward-looking statements or information will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements or information. Accordingly,
readers should not place undue reliance on forward-looking
statements or information.
Endeavour Silver (TSX:EDR)
Historical Stock Chart
From Nov 2024 to Dec 2024
Endeavour Silver (TSX:EDR)
Historical Stock Chart
From Dec 2023 to Dec 2024