Endeavour silver expects up to 5.7 moz silver in 2017


Endeavour Silver Corp. Commodity futures market price quotes (NYSE:EXK) has provided 2017 production and cost guidance for its three producing mines in Mexico: the Guanacevi mine in Durango state as well as the Bolanitos and El Cubo mines in Guanajuato state.

In 2017, the company’s plan is to produce at slightly lower throughput and higher silver grades compared with 2016, resulting in similar silver production and slightly lower gold production forecasts. Binary converter to text Endeavour plans to continue investing significantly in exploration and development programs to extend the existing mine lives and build new mines to fuel future growth.

Silver production is expected to be in the range of 5.2 million to 5.7 million ounces and gold production is expected be in the 50,000-to-53,000-ounce range. Streaming forex rates Silver-equivalent production is forecast to be 8.9 million to 9.7 million ounces using a 75:1 silver:gold ratio

“We expect 2017 to be a transformative year for Endeavour as our attention turns to growth. Call option example The emergence of our exciting new Terronera discovery and the acquisition of two attractive projects last year, El Compas and Parral, have positioned us for significant growth over the next three years which we think could coincide with rising precious metal prices. Baht to usd We believe now is the right time to invest for the future across our portfolio,” said Bradford Cooke, Endeavour chief executive officer.

In 2017, the company plans to drill 64,000 metres and spend $15.2-million on brownfields and greenfields exploration, development engineering and land payments across its portfolio of properties. Exchange rate aud usd At the three existing mines, 20,000 metres of core drilling are planned at a cost of $3.0-million. Aed usd At the exploration and development projects, 44,000 m will be drilled at a cost of $10.5-million.

At El Compas, management has approved a $3.0-million exploration program to drill 8,000 m testing new targets, and collar an 800 m exploration adit (subject to the PEA (preliminary economic assessment) and the state revenue law) to provide underground access to the historical resources in the El Compas and El Orito veins, confirm drill results and assess geotechnical parameters for mining of the mineralized zones.

At Terronera, management has approved a $2.3-million, 10,000 m drill program to test other mineralized veins, complete the PFS and advance the site infrastructure. Usd to rmb In 2016, the Terronera vein discovery was deepened and expanded by drilling. Fraction calculator that shows work Additionally, a number of parallel structures was discovered by mapping and sampling. Msn news breaking news In December 2016, high-grade drill results were announced from the La Luz vein located 2,200 m northeast of the Terronera vein.

At Parral, management plans to spend $3.0-million on drilling 18,000 m to confirm a portion of the historical resource, testing multiple greenfields high-grade and bulk-tonnage silver targets, and completing a PEA. Usd rub bloomberg The potential for near-term, small-scale contract mining and toll milling will also be evaluated.

Additionally, the company will conduct a 5,000 m drill program at the Guadalupe y Calvo property in Chihuahua, Mexico, and a 3,000 m drill program in Chile. Eur usd exchange rate forecast Both properties are highly prospective: Guadalupe y Calvo for high-grade vein mineralization near the existing resource, and for bulk-tonnage silver-lead-zinc manto mineralization in Chile.