Endeavour Silver Nears Completion of Terronera Project in Mexico

This progress positions Endeavour Silver as a key player in the precious metals mining industry, strengthening its presence in the Mexican market and solidifying the Terronera project as one of its primary operations for the coming years.

Endeavour Silver has announced that its Terronera project, located in Jalisco, Mexico, is nearing the final phase of construction, with full commissioning expected by early Q2 2025. During Q4 2024, the company made significant progress on Terronera’s Upper Plant Platform, reaching an overall project completion rate of 89.4%.

Key Construction Milestones and Investment Costs

As of December 31, 2024, the total capital investment in the project stands at approximately $302 million. The total project cost is expected to reach $332 million, reflecting a $16 million increase in mining expenses. This increase is attributed to an extended project timeline and additional costs related to waste rock disposal, including transportation, temporary waste dump storage, and permanent waste dump construction.

During Q4, the company achieved 1,694 meters of underground development, bringing the total to 7,239 meters. Additionally, the commissioning of the primary crusher was completed, with a total of 6,000 tonnes of ore crushed.

Production Projections: 4 Million Ounces of Silver Annually

The Terronera project holds proven and probable reserves of 7.4 million tonnes with a grade of 197 g/t silver and 2.25 g/t gold. The deposit consists of the Terronera and La Luz underground zones, which will be mined using cut-and-fill and long-hole stoping methods.

The processing plant will have a daily capacity of 2,000 tonnes, with an expected annual production of 4 million ounces of silver and 38,000 ounces of gold over a 10-year period, according to the feasibility study.

Market Impact and Stock Performance

Endeavour Silver’s shares increased by 1.34% on Friday morning in the New York Stock Exchange. The company currently has a market capitalization of approximately $1.08 billion.

This progress positions Endeavour Silver as a key player in the precious metals mining industry, strengthening its presence in the Mexican market and solidifying the Terronera project as one of its primary operations for the coming years.