The following is a summary of the Endeavour Silver Corp. (EXK) Q2 2024 Earnings Call Transcript:
Financial Performance:
Reported a net loss of $14 million for Q2 2024, compared to a $1 million loss in Q2 2023.
Top line revenue increased to $58 million, up 17% year-over-year due to higher metal prices.
Cost of sales rose to $48 million, a 28% increase, impacted by stronger Mexican peso and rising operational costs.Cash, all-in sustaining costs benefited from higher gold credit but were offset by higher royalties and special mining duties.
Business Progress:
Terronera project reached 65% completion, projecting commission in Q4 2024.
Advanced 1,250 meters of underground mine development in Q2.
Produced 2.2 million ounces of silver equivalent, positioning the company to meet its upper range 2024 production guidance.
Opportunities:
Higher precious metal prices are expected to improve company's earnings in the future.
Expected commission of Terronera project in Q4 2024 to significantly increase production profile and reduce cost profile.
Risks:
The continuation of high production costs and special mining duties impact cost metrics.
Variability in metal prices affects earnings, as evidenced by unforeseen Q2 losses despite higher revenue.
More details: Endeavour Silver IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
