Published: Jan. 11, 2024 at 11:33 a.m. ET
By Adriano Marchese
Endeavour Silver shares were sharply lower Thursday after the company said it expects virtually unchanged production in 2024 and rising costs.
At 11:26 a.m. ET, shares trading in Toronto were down 8.1% at 2.38 Canadian dollars ($1.78).
The…
By Adriano Marchese
Endeavour Silver shares were sharply lower Thursday after the company said it expects virtually unchanged production in 2024 and rising costs.
At 11:26 a.m. ET, shares trading in Toronto were down 8.1% at 2.38 Canadian dollars ($1.78).
The Canadian miner said that silver output is expected to be between 5.3 million and 5.8 million ounces, and gold in the range of 34,000 to 38,000 ounces. In total, silver equivalent production is forecast to total between 8.1 million and 8.8 million ounces.
Chief Executive Dan Dickson said that a stronger local currency, coupled with inflationary pressures on line items such as labor, explosives, energy and steel prices, continue to weigh on the bottom line.
Endeavour forecasts consolidated cash costs to be between $14.00 and $15.00 per ounce of silver and all-in sustaining costs to be $22.00 to $23.00 per ounce silver, net of gold by-product credits.
Write to Adriano Marchese at adriano.marchese@wsj.com