UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of October 2023
Commission File Number: 001-33153
Endeavour Silver Corp.
(Translation of registrant's name into English)
#1130-609 Granville Street
Vancouver, British Columbia, Canada V7Y 1G5
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ ] Form 40-F [ X ]
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Endeavour Silver Corp. | ||
(Registrant) | ||
Date: October 26, 2023 | /s/ DAN DICKSON | |
Dan Dickson | ||
CEO | ||
EXHIBIT INDEX
Exhibit Number | Description | |
99.1 | Press Release dated October 26, 2023 |
EXHIBIT 99.1
Endeavour Silver Provides Q3 Construction Update on the Terronera Project; Construction Progress is Nearing 40%
VANCOUVER, British Columbia, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (“Endeavour” or the “Company”) (NYSE: EXK; TSX: EDR) is pleased to provide a Q3 construction update for its Terronera Project in Jalisco state, Mexico. The photo gallery presentation which accompanies this news release can be found here or on the Company website at Terronera Project Progress Photos. All dollar ($) references in this news release are United States dollars.
“During Q3, we’ve made notable progress in a number of key areas,” commented Don Gray, Chief Operating Officer. “Not only have we completed construction of our permanent camp and can now fully accommodate our workforce, but we’ve also made significant progress on construction of our process plant. Our procurement efforts are on schedule, with most long-lead major equipment anticipated to be received by year’s end. With our underground mine development, we’re seeing a noticeable increase in rates, as our mining team is now advancing four working faces simultaneously. We’re pleased with Terronera’s progress to date as we expedite completion of this next core asset.”
Q3 2023 Construction and Development Highlights
Early works, initiated in the first quarter of 2022, have rapidly advanced, with more than $95 million of the project’s budget spent to date. Overall construction progress is 38% complete. Project commitments total $160 million, which is 69% of the $230.4 million capital budget. The project remains on track and on budget for initial production in Q4 2024. As of September 30, 2023, site works and activities have included:
Project Timeline and Next Steps
The Company remains focused on advancing the Terronera Project to initial production. Upcoming major milestones include:
About Endeavour Silver – Endeavour is a mid-tier precious metals mining company that operates two high-grade underground silver-gold mines in Mexico. Endeavour is advancing construction of the Terronera Project and exploring its portfolio of exploration projects in Mexico, Chile and the United States to facilitate its goal to become a premier senior silver producer. Our philosophy of corporate social integrity creates value for all stakeholders.
Contact Information
Galina Meleger, VP, Investor Relations
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com
Follow Endeavour Silver on Facebook, Twitter, Instagram and LinkedIn.
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the development and financing of the Terronera Project, including: anticipated timing of the Project, anticipated timing of and completion of conditions precedent to drawdown under the Debt Facility, estimated project economics, Terronera’s forecasted operations, costs and expenditures, and the timing and results of various activities. The Company does not intend to and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, production levels, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include but are not limited to the completion of conditions precedent to drawdown under the Debt Facility; the ongoing effects of inflation and supply chain issues on Project economics; national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development; risks in obtaining necessary licenses and permits; and challenges to the Company’s title to properties; as well as those factors described in the section “risk factors” contained in the Company’s most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the ability of the Company to satisfy conditions precedent to drawdown under the Debt Facility, Terronera’s forecasted operations, costs and expenditures, and the timing and results of various activities, the continued operation of the Company’s mining operations, no material adverse change in the market price of commodities, the Project’s forecasted economics as of 2023, mining operations will operate and the mining products will be completed in accordance with management’s expectations and achieve their stated production outcomes, and such other assumptions and factors as set out therein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.