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, IRW-News: Endeavor Silver Corp .: Endeavor Silver Reports Financial Results for First Quarter 2021; Results conference call today at 10 a.m. PDT (1 p.m. … | message, Forex-News, Forex-News
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IRW-News: Endeavor Silver Corp .: Endeavor Silver Reports Financial Results for First Quarter 2021; Results conference call today at 10 a.m. PDT (1 p.m. … | message

, IRW-News: Endeavor Silver Corp .: Endeavor Silver Reports Financial Results for First Quarter 2021; Results conference call today at 10 a.m. PDT (1 p.m. … | message, Forex-News, Forex-News


, IRW-News: Endeavor Silver Corp .: Endeavor Silver Reports Financial Results for First Quarter 2021; Results conference call today at 10 a.m. PDT (1 p.m. … | message, Forex-News, Forex-News

IRW-PRESS: Endeavor Silver Corp .: Endeavor Silver reports financial results for the first quarter of 2021; Results conference call today at 10 a.m. PDT (1 p.m. EDT)

VANCOUVER, British Columbia, May 11, 2021 – Endeavor

Silver Corp.


mand / companies / profile / endeavor-silver-corp /

) today announced its financial results for the three months

known until March 31, 2021. The enterprise

operates three silver-gold mines in Mexico: the mine

Guanacevi in ​​the state of Durango, the Bolanitos mine in

Guanajuato State and the El

Compas in the state of Zacatecas.

Bradford Cooke, CEO commented, “We have one

good start to 2021 with the mining operations

meet our production plans regardless of

severe weather events slowing down the


in the

1st quarter resulted. As a result were

our operating costs a little higher than planned, however

we expect the cost to be lower in the future



“Sales, cash flow and earnings were in the 1st quarter of 2021

significantly higher than in the first quarter of 2020. The

Sale of El

Cubo has helped increase our bottom line,

what through our choices, part of the

Metal stocks near the end


1st quarter hold back, as well as increased by

general and administrative costs balanced

has been.”

“The feasibility study for Terronera is on the

best way

in the

3rd quarter to be completed and the

Exploration work is ongoing in all of our mines and

Projects to test very promising goals.

We have a busy year ahead of us since

our attention to the development of ours

next core asset

Terronera sets up. “

2021 highlights of the first quarter

– Metals Production: Produced 1,039,710 ounces (oz)

Silver, up 22%, and 10,894

oz gold, up 31%, in line with the

Forecast of 1.9 million

oz silver equivalent (AgEq), up 26% at


80: 1 silver: gold ratio, compared to Q1,


– Gross Sales: Total $ 35.1M, up from

58%, through the sale of 623,379

oz silver and 10,663 oz gold on average

realized prices of $ 27.17 each

oz of silver and $ 1,703 per oz of gold. The enterprise

held 523,235 ounces of silver and 1,123 ounces of gold as

Bullion inventory and 6,582 ounces of silver and 566 ounces

Gold as

Concentrate inventory. Management stopped during the

Metal price correction in the last two weeks of March

back from sale.

– Operating Expenses: Cash Cost (1) $ 7.86 per payable

Ounce of silver, year-on-year, and


Sustaining Costs (AISC) (1) $ 19.94 per ounce payable

Silver, 8% higher than last year, both minus the

Gold credits.

– Cash Flow: $ 5.2 million cash flow from operations above

Changes in working capital, an increase of 205% in

Compared to Q1 2020 as the company

Finished goods amassed in exploration activities

invested and the feasibility study for

Terronera advanced.

– Net Income: A profit of $ 12.2 million or $ 0.08

per share, a significant increase compared to

a loss of $ 15.9 million in Q1 2020 that

on the reversal of the historical depreciation of the

in April sold asset El

Cubo is due and reinforced by

Exploration and evaluation activities as well as higher

Tax expense has been offset. Without that

Reversal of the impairment resulted in the adjusted


a loss of $ 4.5 million. At the end of the quarter

the stock of finished gold at a cost of 8.0 million

Compared to the market value of $ 15.9 million


– Agreement to sell the El Cubo assets: D

he sale of the El

Cubo assets in Guanajuato, Mexico, to Vangold Mining

Corp. was for $ 15 million in cash and in the form of

Share payments of up to $ 3 million in conditional

Payments, with the transaction taking place on Jan.

April 2021 will be completed.

– Balance sheet: Cash position $ 86.0 million, plus 473% and

Working capital compared to $ 113.1 million, up 316%

Q1, 2020. Raising $ 30.1M

Equity financing through an ATM facility.

The only long-term liabilities are

$ 8.7 million equipment loan included in the

Previous years to upgrade the mobile fleet



(1) The operating cash flow of the mine, cash costs and

the all-in

Sustaining costs are non-IFRS measures. You’re welcome

note the definitions in the management

Discussion & Analysis of the company.

Financial overview

In the first quarter of 2021, net sales increased by 58%

$ 34.5 million, reflecting higher metal prices and the

increased production.

As a result, the cash flow increased from the

Mine operations, operating cash flow and EBITDA in

Compared to Q1 2020. The enterprise

posted a profit of $ 12.2 million compared to

a loss of $ 15.9 million in Q1, 2020. One

Impairment release of $ 16.8 million was made

due to the classification of mine El

Cubo and related assets and

Liabilities as held for sale in

Connection with the


booked on April 9th.

The cost of sales for the 1st quarter of 2021 was 28.8

Million, an increase of 16% over the

Cost of sales of $ 24.8 million over the same period

2020. The increase in cost of sales was primarily

significantly higher license fees and labor costs

attributed in part to an improved

Productivity in the company

Guanacevi and Bolanitos were equalized. The

Royalties rose 187% to $ 2.5 million, what

on higher realized prices and the increased

Dismantling the high-grade extensions

Porvenir Cuatro in the Guanacevi farm

is that the significantly higher license fees


The company increased its inventory

Finished products of silver and gold at 529,817

Ounces and 1,689 ounces as of March 31, 2021 compared

for 116,484 ounces of silver and 1,459 ounces of gold as of December 31.

December 2020. These finished products

Allocated costs as of March 31, 2021 were 8.0

$ Million compared to $ 3.6 million as of December 31st

2020. On March 31, 2021 the market value was

Finished goods inventories $ 15.9 million compared to 5.8

$ Million as of December 31st


Financial results (consolidated profit and

Loss statement in the appendix)

Generated for the period up to March 31, 2021

the company had net sales of $ 34.5 million what

an increase of 58% over $ 21.9 million

corresponds to. Gross sales of $ 35.1 million in 1st

Quarter 2021 represented an increase of 57%

versus $ 22.8 million in the same period in 2020.

There was a 6 decrease in silver ounces sold

% and an increase in the realized price of silver by


% resulting in a 66% increase in silver sales

led. There was an increase in ounces of gold sold

by 43% and an increase in the realized price of gold

by 4%, resulting in a 49% increase in gold sales

led. The company sold during the reporting period

623,379 ounces of silver and 10,663 ounces of gold in one

realized price of $ 27.17 or $ 1,703 per ounce,

compared to a sale of 665,500 ounces of silver

and 7,454 ounces of gold at a realized price of

$ 15.33 or $ 1,633 per ounce for the same period of the

Year 2020. In the three months ending March 31, 2021

included the spot prices for silver and gold

an average of $ 26.26 and $ 1,794, respectively.

After cost of sales of $ 28.8 million (Q1

2020 – $ 24.8 million) was operating income

of the mine to $ 5.7 million (Q1 2020 – loss of

$ 2.9 million) from mining and milling operations in


Less depreciation of $ 7.5 million

(Q1, 2020 – $ 6.0M) and the stock-based

Compensation of $ 0.1 million (Q1, 2020 – $ 0.1 million

$) was the operating cash flow of the mine before taxes

$ 13.3 million in Q1, 2021 (Q1, 2020 – $ 4.3 million). To

Exploration and evaluation expenses of 4.1

$ Million (Q1, 2020 – $ 2.4 million), general and

administrative expenses of $ 3.5 million (Q1,

2020 – $ 2.0 million) and upkeep and maintenance costs for


Cubo of $ 0.5M (Q1, 2020 – $ 1.3M)

operating income was $ 14.3 million (Q1, 2020 –

Loss of $ 8.6 million). An impairment release

$ 16.8 million was due to the

Classification of the mine El

Cubo and related assets and

Liabilities as held for sale in

Connection with the


booked on April 9th.

Net income was $ 12.2 million

($ 0.08 per share) compared to one

Net loss of $ 15.9 million (loss of $ 0.11 million)

US dollars per share) in Q1


Current tax expense increased to $ 0.7 million (Jan.

Quarter of 2020 – $ 0.3 million) in connection with a

Increase in the special charge for mining while a

deferred tax expense of $ 3.1 million due to

the estimated use of loss carryforwards for

Reduction in taxable profit

Guanacevi and Bolanitos (Q1 2020 – $ 1.9M)


has been.

The direct operating costs per ton rose in the 1st

Quarter 2021 compared to Q1 2020 by 16%

to $ 112.36, which contributes to higher operating costs

Guanacevi and Bolanitos is due to that by

lower costs with El

Compas have been balanced. At Guanacevi and Bolanitos

labor costs have risen and at

More ore was bought from third parties than in Guanacevi

Previous year. Including license fees and the

special mining tax, the direct costs increased

per ton increased 24% to $ 126.23. The license fees

rose 187% to $ 2.5 million as the increased

Production from the El

Curso at Guanacevi and the higher prices the

License fees increased significantly. The higher prices

and the higher grades increased the special charges for

the first quarter of 2021 to 0.4 million


The consolidated cash cost per ounce, minus the

By-product credits (a non-IFRS measure

and a standard of the

Silver Institute) was unchanged at $ 7.86 since

the higher grades and higher prices the higher

offset direct costs per ton. The sustainable

Total costs (also a non-IFRS measure)


in Q1 2021, up 8% to $ 19.84 an ounce, indicating

the higher general and administrative costs of the

Company and the increased capital expenditures


Guanacevi to expedite mine development

within the ore body El

Curso is due. Included in the 1st quarter of 2020

the general administrative expenses of the company

a market recovery of $ 1.1 million for

deferred stock units, while the

Market reclamation in Q1 2021 $ 0.2M


The condensed consolidated interim financial statements and the Ma


Discussion & Analysis can be found on the website of the

Company under, on SEDAR at and



can be viewed. All amounts are given in US $.

Conference call

A conference call to discuss these results

takes place today, Tuesday, May 11 at 10 a.m. PDT (1 p.m.

EDT). To take part in the conference call,

please choose the

numbers below. It’s not a pass code


Toll Free in Canada and the United States: 1-800-319-4610

Vancouver local: 604-638-5340

Outside Canada and the United States: + -604-638-5340

A recording of the conference call is available at

Number 1-800-319-6413 in Canada and the United States

(toll free) or + 604-638-9010 outside of Canada

and the USA available. The required

Passcode is 6594 #. The recording is also on the

Company website at be available.

About Endeavor Silver – Endeavor Silver Corp. is a

medium sized precious metals mining company that has three

high grade underground silver-gold mines in Mexico

owns and operates. Endeavor is currently doing this

Mine project

Terronera towards a development decision

move forward and explore its portfolio of exploration and

Development projects in Mexico and Chile to be

Goal to achieve a leader

to become the leading silver producer. Our

Corporate Social Integrity Philosophy

creates value for everyone


SOURCE Endeavor Silver Corp.

Contact information:

Galina Meleger, Director Investor Relations

Toll free: (877) 685-9775

Tel: (604) 640-4804



Follow Endeavor Silver on Facebook, Twitter, Insta


and LinkedIn

In Europe:

Swiss Resource Capital AG

Jochen Staiger

Cautionary Note Regarding Forward-Looking Statements

This press release contains “forward-looking

Statements “within the meaning of the United States Private

Securities Litigation Reform Act of 1995 and

“Forward-Looking Information” as used in the

applicable Canadian securities laws. Such

forward-looking statements and information

contain, but are not limited to statements

regarding the expected performance of Endeavor im

Year 2021, including changes in mining operations

and in production, the schedule and the

Results of various activities as well as the

Effects of the COVID 19 pandemic on operations.

The company does not intend or assume any

Commitment to such forward-looking statements

or update information unless so

is required by applicable laws.

Forward-looking statements or information

involve known and unknown risks,

Uncertainties and other factors that lead to it

that the actual results,

Activities, production levels, services or

Achievements of Endeavor and its operations

differ significantly from those found in such

Statements are expressed or implied. To this

Factors count, among other things, the ultimate

Effects of the COVID 19 pandemic on operations and

the results, changes in production and

Cost forecasts, national and local governments,

Legislation, taxation, controls, regulations

and political or economic developments in

Canada and Mexico; financial risks due to

Precious metal prices, operational or technical

Difficulties in mineral exploration,

-Development and

mining activities; Risks and dangers of

Mineral exploration, development and mining;

the speculative nature of mineral exploration and

-Development, risks in obtaining necessary

Licenses and permits and disputes of the

Company ownership of land;

as well as those factors mentioned in the section “Risk Factors”

in the most recent Form 40F / Annual Information Form des

Company, which is part of the S.E.C. and

Canadian Securities Regulators

were submitted.

Forward-looking statements are based on assumptions that

management deems reasonable, including,

but not limited to: continued operation

the company’s mining operations, none

material adverse change in market prices for

Raw materials, the operation of the mining operations and the

Completion of mining products according to

Management expectations and achievement of the

specified production results as well as others

Assumptions and factors as set out herein.

Although the company tried important factors

identify that could cause the

actual results differ materially from those

may differ from those in the forward-looking statements

or information is included, there may be others

Factors exist that will lead to the results

differ significantly from those that were foreseen

described, estimated, evaluated or intended

were. It cannot be guaranteed that

forward-looking statements or information as

Prove to be accurate as actual results

and future events differ significantly from the in

expected such statements or information

may differ. Accordingly, the reader should

do not place undue reliance on forward-looking

Set statements or information.



Q1 2021 highlights three-month period

until March 31st

2021 2020%




Silver ounces produced 1,048.1 857.659 22%


Gold ounces produced 11.109 8.476 31%

Payable Ounces Produced 1,036.7 849.791 22%

Silver 10

Payable Ounces Produced 10,894 8,320 31%


Ounces produced 1,936.8 1,535.7 26%

Silver equivalent 20 39

Cash costs per silver ounce 7.86 7.85 0%

Total production cost per 15:41 16:35 (6%)


All-in sustaining costs per 19.94 18.38 8%


Tons processed 209,453 199,327 5%

Direct operating costs per 112.36 96.90 16%


Direct costs per ton 126.23 101.63 24%

Silver co-product cash cost 15:16 11:51 32%


Gold co-product cash cost 950 1.226 (22%)


Revenue ($ million) 34.5 21.9 58%

Silver ounces sold 623,379 665,500 (6%)

Gold ounces sold 10.663 7.454 43%

Realized silver price per 27.17 15.33 77%


Realized gold price per U1.703 1.633 4%


Net profit (loss) (in 12.2 (15.9) 177%



Adjusted Net Income (4.7) (15.9) 70%

(loss) (million


Operating profit (loss) 5.7 (2.9) 296%

of the mine (mill.


Operating cash flow of 13.3 4.3 211%

Mine (million


Operating cash flow before 5.2 (5.0) 205%

Change of

Working capital

Earnings before ITDA (M $) 24.0 (6.7) 457%

Working capital (million 113.1 27.2 316%



Earnings (loss) per share – 0.08 (0.11) 173%


Adjusted profit (0.03) (0.11) 74%

(Loss) per share –


Operating cash flow before 0.03 (0.04) 194%

Change in working capital

en ever


Weighted average 159.670 141.810 13%

of outstanding, 842.208 the above

Metrics mentioned in stocks are key metrics,

that are used by senior management, they

however, shouldn’t be the only metrics that

to determine the performance of the business

of the company

become. The corresponding definitions and transitions


are included in the management report.




(expressed in thousands of U.S. dollars)

Three months


31. 31.

March, March,

2021 2020

Operational activities

Income for the period (loss) $ 12.24 (15.9)

9 26

Items not affecting liquidity:

Share-based payment 1.165 745

Depreciation and impairment 7.624 6.268

Reversal of long-term assets (16.7) –

ns values ​​91

Deferred income tax expense 3.127 1.864

Unrealized foreign currency exchange 90 654



Financing costs 291 311

Depreciation of inventories to the – 1,042

Net realizable value

Loss from asset disposal 34 78

Loss (profit) from other (2.54) (7)

Investments 6

Net change in not (9.16) 2.622

cash 6

Working capital

Cash inflow (outflow) from (3.92) (2.34)

current 3 9

Business activity

Investment activity

Proceeds from the disposal of 556 27

Property, plant and equipment

Expenditure on minerals, (7.27) (5.51)

Property, plant and equipment and 0 2


Purchase of marketable securities (832) –

Proceeds from the disposal of 4,383 –

Securities of the

Current assets

Repayment of (investments in) (20) –



Cash inflow / (outflow) from investments (3.18) (5.48)

ition activity 3 5

Financing activity

Repayment of (969) (772)

Loan liabilities

Redemption of (42) (43)

Lease liabilities

Interest paid (193) (218)

Public share offerings 30.10 1.485


Exercise of options 3,798 12

Cost of issuing shares (602) (74)

Cash inflow / (outflow) from finance 32.09 390

activity 2

Effect of (80) (934)

Exchange rate changes on the

Financial resources

Increase (decrease) in 24.98 (7.44)

Means of payment and 6 4

Cash equivalents

Cash and 61.08 23.36

Cash equivalents, beginning 3 8



Cash and $ 85.98 $ 14.99

Cash equivalents, end of 9 0

the declaration should be used in conjunction with the abbreviated

Period consolidated interim financial statements as of December 31

March 2021 and the explanations contained therein






(expressed in thousands of US dollars, except

of the amounts for the share and each


Three months to the end

March 31st, March 31st,

2021 2020

Revenue $ 34,466 $ 21,927

Cost of sales:

Direct production costs 18.728 16.800

Royalty 2,460 857

Share-based payments 118 91

Depreciation and 7,496 6,023


Depreciation of inventories to – 1,042


Net realizable value

28,802 24,813

Operating profit (loss) 5.664 (2.886)




Exploration and evaluation 4.130 2.382

General and Administration 3.523 2.005

Care and maintenance costs 521 1,345

Write-up of long-term Ve (16.79) –

assets 1

(8,617) 5,732

Operating profit (loss) 14,281 (8,618)

Financing costs 291 310

Other income


Foreign exchange (694) (4,917)

Investments and other 2,751 49

2.057 (4.868)

Profit (loss) before tax 16.047 (13.79)


Income tax expense (refund


Current income tax expense 671 266

Deferred income tax expense (3.127 1.864


3.798 2.130

Annual surplus (deficit) 12.249 (15.92)

and overall result 6


shortfall) of the period

Basic earnings per $ 0.08 $ (0.11)

Share based on the

Annual surplus



Diluted earnings per $ 0.07 $ (0.11)

Share based on the

Annual surplus


Basic weighted 159.67 141.81

Average number of 0.842 0.208

in circulation


Diluted Weighted 163.74 141.81

Average number of 2,420 0.208this

Declaration in circulation should be linked

Shares with the abridged consolidated interim financial statements as of


March 2021 and the explanations contained therein





(expressed in thousands of US dollars, except

of the amounts for the share and each


31. 31.

March, December


2021 2020


Current assets

Cash and $ 85.9 $ 61.0

Cash equivalents 89 83

Other investments 3.71 4.76

2 7

Trade accounts receivable and 16.9 20.1

Benefits and other 59 44


Income tax receivables 27 52

Inventories 21.7 16.6

74 40

17.5 held for sale –

Assets 03

Prepaid expenses 3.20 2.28

8 4

Total current assets 149, 104,

172 970

Deposits 611 591

Deferred financing costs – 294

Refundable income tax 3.57 –


IVA requirement 2.67 2.67

2 6

Deferred income tax claims 9.70 12.7

5 53

Intangible assets 370 492

Rights of use to leased assets 725 861


Mineral properties, 86.5 87.9

Annexes and 59 55


Total assets $ 253, $ 210,

384 592


Short term liabilities

Trade payables $ 25.8 $ 27.7

and benefits and accrued 67 64


Liabilities from 2.00 3.03

Income taxes 5 8

Liabilities from loans 3.43 3.57

3 8

Leasing liabilities 174 173

Liabilities held for sale 4.61 –


Current liabilities, 36.0 34.5

total 94 53

Liabilities from loans 5.27 6.09

0 4

Leasing liabilities 886 921

Provision for recultivation 4.35 8.87

and 7 6


Deferred income tax liability 1.15 1.07

t 9 7

Total liabilities 47.7 51.5

66 21


Common shares, unlimited

authorized shares without

Face value,


and in circulation 164,706,112 554, 517,

Shares (December 31, 2020 – 157,924,708 463 711


Contributed excess 7.20 9.66

8 2

Revenue reserves (shortfall) (356) (368)

, 053,302

Equity, total 205, 159,

618 071

Sum of liabilities and $ 253, $ 210,

of 384 592This

Equity statement should be used in conjunction with the

condensed consolidated interim financial statements as of December 31

March 2021 and the explanations contained therein



Source: Endeavor Silver Corporation

The original English report can be found under the following link:

The translated message can be found under the following link:


Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:

Mitteilung übermittelt durch Für den Inhalt ist der Aussender verantwortlich.

Kostenloser Abdruck mit Quellenangabe erlaubt.


, IRW-News: Endeavor Silver Corp .: Endeavor Silver Reports Financial Results for First Quarter 2021; Results conference call today at 10 a.m. PDT (1 p.m. … | message, Forex-News, Forex-News

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