Endeavour Silver

Financials:

Primary ticker: TSX:EDR, NYSE:EXK
Stage of development: Exploration, Development, Production
Primary minerals: Silver, Gold
Project to promote: Guanacevi, Bolanitos, Terronera
Project location: Mexico, Chile & USA
Website: https://www.edrsilver.com

Endeavour Silver Corp. is a mid-tier precious metals mining company that owns and operates two high-grade, underground, silver-gold mines in Mexico. Endeavour is currently advancing the Terronera mine project towards a development decision and exploring its portfolio of exploration and development projects in Mexico and Chile to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.

Cash: U$101M
Debt: None

Major shareholders:
Van Eck – 11%
S&P TSX Composite – 4%
Fresnillo – 2%

Management Profile

Dan Dickson – CEO
Since joining Endeavour Silver in March 2007, Dan has become an admired member of the team for his tenacity and results driven demeanor. With 20 years’ experience in the mining industry, Dan has been instrumental in building Endeavour’s financial infrastructure as the company grew over the past 15 years from four employees to over 2,000 staff.

As the Chief Executive Officer, Dan will lead Endeavour Silver and is responsible for the organization’s strategic direction, vision, growth and performance, with a focus on creating shareholder value. In Dan’s previous role as the Chief Financial Officer, he was responsible for financial reporting, leading financing solutions, including for debt and equity raises, IT functions, legal and administration oversight, and helping steer M&A decisions. To date, Dan has assisted in raising more than $300 million for Endeavour Silver.

Prior to joining Endeavour Silver, Dan worked with KPMG LLP in the assurance group from 2001 to 2007, where he focused on precious metals companies listed on North American stock exchanges. As a chartered professional accountant, he gained proficiency in a number of financial areas and building highly efficient teams and reporting systems. He also has a solid track record in supporting and guiding the company’s Executive Board. Dan holds a Bachelor of Commerce Accounting from the University of British Columbia and is a member of the British Columbia Institute of Chartered Accountants.

What is your rationale for taking part 121 Mining Investment?

We are looking to update investors on the latest developments at Endeavour Silver.

What recent news would you like to highlight to investors attending?

January 20, 2022 – Endeavour Silver announced its consolidated production and cost guidance as well as its capital and exploration budgets for 2022. In 2022, silver production is expected to range from 4.2 to 4.8 million ounces (oz) and gold production is anticipated to be between 31,000 oz and 35,000 oz. Silver equivalent production is forecasted to total between 6.7 million and 7.6 million oz at an 80:1 silver:gold ratio. Consolidated cash costs 2 and all-in sustaining costs 2 (“AISC”) in 2022 are estimated to be $9.00-$10.00 per oz silver and $20.00-21.00 per oz silver, respectively, net of gold by-product credits. The Company’s 2022 cost outlook is higher than the prior year as inflation, royalties and mining duties are expected to increase in 2022.

January 13, 2022 – Endeavour Silver has entered into a definitive agreement to purchase the Pitarrilla project in Mexico by acquiring all of the issued and outstanding shares of SSR Durango, S.A. de C.V. from SSR Mining Inc. (NASDAQ/TSX: SSRM; ASX: SSR) for total consideration of $70 million and a 1.25% net smelter returns royalty. Pitarrilla is a large undeveloped silver, lead, and zinc project located 160 kilometres north of Durango City, in northern Mexico.

January 11, 2022 – Endeavour Silver reported full year 2021 production of 4,870,787 silver ounces (oz) and 42,262 gold oz, for silver equivalent 1 (“AgEq”) production of 8.3 million oz. Fourth quarter production was 1,443,564 silver oz and 9,446 gold oz, for silver equivalent production of 2.2 million oz AgEq. The Company’s 2021 full year production exceeded the upper range of its guidance of between 7.7 million oz and 8.0 million oz AgEq (revised upward in October) due to continuing strong performance at Guanacevi with higher grades and tonnage milled. Annual silver production exceeded guidance by 3% while gold production was in line with the upper range of guidance.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Terronera project development decision

6 Months:

Parral drill program focused on expanding resources

Chile drill program with strong discovery potential