Endeavour Silver (TSX: EDR; NYSE: EXK) has started commercial production at Terronera in Jalisco, Mexico, a step CEO Dan Dickson says anchors its “30 by 30” plan – 30 million silver-equivalent oz. a year by 2030.
Terronera’s wide, shallow vein and strong gold by-product credits are central to the plan. The orebody is slated to produce 4 million oz. silver and 38,000 oz. gold a year over a decade. Dickson expects Terronera to deliver about $100-$200 million (C$140-C$280 million) in annual free cash flow at current prices.
“Terronera is a game changer,” Dickson said in the first of The Northern Miner’s new Mic’d Up series of sponsored content. ”We set out to double production and halve our cost profile and the gold will pay for the costs so the silver is effectively free.”.
What comes next is scale. Endeavour is also advancing Pitarrilla in Durango, targeting a feasibility study by mid-next year, to help bridge to the 30-million oz. goal. In April, Endeavour added its first Peru operation with the Kolpa polymetallic mine, acquired for $145 million in cash and shares. It produces about 5 million silver-equivalent oz. a year (about 40% silver).
Watch the full interview below:
The preceding Joint Venture Article is PROMOTED CONTENT sponsored by Endeavour Silver and produced in co-operation with The Northern Miner. Visit: www.edrsilver.com for more information.
