Endeavour Silver's Terronera Project: A Q3 2024 Construction Progress Update
Monday, Oct 21, 2024 6:56 am ET
2min read Endeavour Silver Corp. (NYSE: EXK; TSX: EDR) has provided a Q3 2024 construction progress update for its Terronera Project in Jalisco state, Mexico. The surface construction progress has reached an impressive 77% completion, marking a significant milestone in the project's development.
The Terronera project made substantial progress during the third quarter, with the Upper Plant Platform nearing completion. Surface mill and infrastructure construction reached 90%, further preparing for advancement into operations. The primary jaw crusher was commissioned, with rock crushed in August, marking a major project milestone. The focus continues on the Lower Platform and Tailing Storage Facility, with underdrain embankment fill and pipe installation advancing at a good pace.
The project's budget and timeline align well with the 77% surface construction progress. As of September 30, 2024, more than $258 million of the project's budget had been spent, with project commitments totaling $270 million, representing 99% of the $271 million capital budget. The project remains on track to begin commissioning systems near the end of Q4 2024.
Challenges faced during the construction process include the temporary trunnion failure at the Guanaceví mine, which impacted production in August and September. However, Endeavour Silver's ingenuity, commitment, and hard work have been crucial in reducing the impact on the mine and the surrounding community. The Company remains focused on further mitigating the effects and looks forward to returning Guanaceví to full production capacity in December.
The progress at Terronera has impacted Endeavour Silver's overall operations and financial performance in Q3 2024. Despite the temporary setback at Guanaceví, the Company reported third quarter 2024 production of 874,717 silver ounces and 9,290 gold ounces, for silver equivalent1 production of 1.6 million ounces. Total year-to-date production of 6.0 million AgEq ounces is tracking towards the updated 2024 production guidance of 7.3 million to 7.6 million AgEq ounces.
The key milestones achieved in Q3 2024 that contributed to the 77% surface construction completion include the completion of the Upper Plant Platform, the commissioning of the primary jaw crusher, and the advancement of the Lower Platform and Tailing Storage Facility.
The current progress compares favorably to the initial project timeline and budget projections. Endeavour Silver has managed to stay within the budget despite the 77% completion, and the projected costs for the remaining work are expected to be in line with the Company's financial projections.
The remaining tasks and their expected completion dates include the completion of the Lower Facilities Platform and Tailing Storage Facility, as well as the finalization of the Tailing Filtration Area. These tasks are expected to be completed in Q4 2024, bringing the Terronera project to full operation.
In conclusion, Endeavour Silver's Terronera Project has made significant progress in Q3 2024, with surface construction reaching 77% completion. The project remains on track to meet its budget and timeline, and the Company is committed to addressing any challenges that arise during the construction process. The progress at Terronera has positively impacted Endeavour Silver's overall operations and financial performance, and the Company looks forward to the successful completion of the project in the near future.
The Terronera project made substantial progress during the third quarter, with the Upper Plant Platform nearing completion. Surface mill and infrastructure construction reached 90%, further preparing for advancement into operations. The primary jaw crusher was commissioned, with rock crushed in August, marking a major project milestone. The focus continues on the Lower Platform and Tailing Storage Facility, with underdrain embankment fill and pipe installation advancing at a good pace.
The project's budget and timeline align well with the 77% surface construction progress. As of September 30, 2024, more than $258 million of the project's budget had been spent, with project commitments totaling $270 million, representing 99% of the $271 million capital budget. The project remains on track to begin commissioning systems near the end of Q4 2024.
Challenges faced during the construction process include the temporary trunnion failure at the Guanaceví mine, which impacted production in August and September. However, Endeavour Silver's ingenuity, commitment, and hard work have been crucial in reducing the impact on the mine and the surrounding community. The Company remains focused on further mitigating the effects and looks forward to returning Guanaceví to full production capacity in December.
The progress at Terronera has impacted Endeavour Silver's overall operations and financial performance in Q3 2024. Despite the temporary setback at Guanaceví, the Company reported third quarter 2024 production of 874,717 silver ounces and 9,290 gold ounces, for silver equivalent1 production of 1.6 million ounces. Total year-to-date production of 6.0 million AgEq ounces is tracking towards the updated 2024 production guidance of 7.3 million to 7.6 million AgEq ounces.
The key milestones achieved in Q3 2024 that contributed to the 77% surface construction completion include the completion of the Upper Plant Platform, the commissioning of the primary jaw crusher, and the advancement of the Lower Platform and Tailing Storage Facility.
The current progress compares favorably to the initial project timeline and budget projections. Endeavour Silver has managed to stay within the budget despite the 77% completion, and the projected costs for the remaining work are expected to be in line with the Company's financial projections.
The remaining tasks and their expected completion dates include the completion of the Lower Facilities Platform and Tailing Storage Facility, as well as the finalization of the Tailing Filtration Area. These tasks are expected to be completed in Q4 2024, bringing the Terronera project to full operation.
In conclusion, Endeavour Silver's Terronera Project has made significant progress in Q3 2024, with surface construction reaching 77% completion. The project remains on track to meet its budget and timeline, and the Company is committed to addressing any challenges that arise during the construction process. The progress at Terronera has positively impacted Endeavour Silver's overall operations and financial performance, and the Company looks forward to the successful completion of the project in the near future.
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