Q2 2025 Endeavour Silver Corp Earnings Call Transcript
Key Points
- Endeavour Silver Corp (EXK) reported a 13% increase in silver equivalent production compared to Q2 2024, reaching approximately 2.5 million ounces.
- Revenue increased by 46% year-over-year to $85 million, driven by higher precious metal prices and increased production.
- Operating costs remained below guidance, with cash costs at $15.35 per ounce of payable silver and all-in sustaining costs at $25.16 per ounce.
- The integration of the newly acquired Kolpa mine is progressing well, with production aligning with historical performance.
- The company is on track to achieve an annualized production profile of 20 million silver equivalent ounces by 2026, with Terronera nearing commercial production.
- Endeavour Silver Corp (EXK) reported a net loss of $20 million for the quarter, primarily due to operating losses at Terronera during commissioning.
- Mine operating earnings decreased to $7.7 million from $10.2 million in Q2 2024, impacted by a $6 million loss at Terronera and increased depreciation.
- Working capital was negative as of June 30, although there was a $14 million surplus excluding non-cash derivatives.
- The company faces challenges in achieving commercial production at Terronera, with current silver and gold recoveries below historical life-of-mine recoveries.
- Operating costs at Kolpa were higher than under the previous operator, attributed to integration costs and inflationary pressures.
Thank you for standing by. This is the conference operator. Welcome to the Endeavour Silver second quarter 2025 financial results conference call.
(Operator Instructions)
The conference is being recorded.
(Operator Instructions)
I would now like to turn the conference over to Allison Pettit, Vice President, Investor Relations. Please go ahead.
Thank you, operator, and good morning everyone. Before we get started, I ask that you view our MD&A for cautionary language regarding forward-looking statements and the risk factors pertaining to these statements. Our MD&A and financial statements are available on our website at edrsilver.com.
On today's call, we have Endeavour Silver's CEO Dan Dickson; our CFO Elizabeth Senez; and Endeavour's COO, Don Gray. Following Dan's formal remarks, we will open the call for questions. And now over to Dan.
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