Endeavour Silver Corp (TSE:EDR, NYSE:EXK) said production in the second half of 2017 should increase compared to the first due to increase access to its reserves at its three Mexico mines but it has still lowered overall output guidance for the year.
That's because of issues at the Guanacevi mine in Durango state, which included power outages and a lightning strike just as electrical repairs were nearly complete.
Here the revised 2017 forecast production at Guanacevi is between 2mln and 2.1 million ounces of silver and 4,400 to 4,500 ounces of gold (down from 2.4mln to 2.6 mln silver ounces and 5,300 to 6,300 gold ounces previously).
For all three mines as a whole, silver production is now expected to be in the range of 4.8 million to 5.2 million ounces and gold production is expected be between 49,100 and 51,200 ounces.
Elsewhere, improved performances at its Bolanitos and El Cubo mines in Mexico led to increased production in the second quarter of this year compared to the first, but output was still lower than Q2, 2016 due to differences in mine plans.
The net loss for the three months to June 30, 2017 was $16,000 (loss of nil per share) versus net earnings of $1.7mln (one cent per share) in 2016.
Revenues were $32,636 compared to $44,510, as the all-in sustaining costs (AISC) increased 94% to $20.46 per ounce silver payable (net of gold credits).