Endeavour Silver reports Q3 EPS (1c), consensus 1c

Reports Q3 revenue $49.5M vs. $39.7M last year. Reports Q3 production of 1,148,735 ounces of silver and 9,089 oz of gold for 1.9 million oz silver equivalent.”Our Q3 was challenging on a number of fronts, marking the lowest quarterly production for the company in over two years. We were negatively impacted by several factors, however reduced productivity at Guanacevi is what led to a production shortfall. This reduced productivity was the result of mine sequencing changes that were initiated to improve access and ventilation, which have resulted in a significant reduction in ore grades. These lower silver and gold grades, combined with lower precious metals prices, a stronger Mexican Peso, and increased operating development and maintenance and repairs, have negatively impacted our financial performance this quarter.” stated CEO Dan Dickson. “With mine sequencing back on track in Q4, we are now mining in wider, higher-grade areas of the orebody, which has significantly improved mine output and grades. While there is never a good time for these corrective measures to be taken, especially with additional macro pressures, they were necessary, and we have already seen the benefits from the actions implemented in Q3.”