(Kitco News) – Endeavour Silver (NYSE: EXK; TSX: EDR) immediately introduced that its gross income in 2020 was $140.3 million, up 15% from $121.7 million in 2019 on the sale of three.5 million oz of silver and 35,519 oz gold at common realized costs of $21.60 per oz silver and $1,846 per oz gold.
The corporate’s money circulate from operations earlier than working capital adjustments was $28.8 million, up from adverse $8.9 million in 2019; mine working money circulate earlier than taxes was $56.2 million up from $14.9 million in 2019.
Endeavour Silver reported internet revenue of $1.2 million ($0.01 per share), up from a internet lack of $48.1 million in 2019; full yr EBITDA was $29.4 million.
The corporate’s steel manufacturing in 2020 was 3,513,767 oz silver and 37,139 oz gold for six.5 million oz AgEq, a decline 9% from 7.1 million oz AgEq in 2019, primarily because of the suspension of operations on the El Cubo mine on November 30, 2019.
CEO Bradford Cooke commented, “Whereas 2019 was operationally probably the most difficult in our 16-year historical past as a producing firm, 2020 was maybe one of the satisfying. However a authorities mandated two-month suspension of mining operations because of the COVID pandemic, we delivered larger manufacturing and decrease prices at every of our three working mines in 2020.”
Endeavour Silver is a mid-tier valuable metals mining firm that owns and operates three high-grade, underground, silver-gold mines in Mexico: the Guanaceví mine in Durango state, the Bolañitos mine in Guanajuato state and the El Compas mine in Zacatecas state.
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