Endeavour Silver (EXK +3.3%) shoots higher after Q2 earnings and revenues generally match expectations, and silver prices rally past $25/oz.
Q2 silver oz. sold fell 42% Y/Y to 634,839 and gold oz. sold fell 44% to 5,218 oz. at average realized prices of $17.04/oz. for silver and $1,862/oz. gold vs. year-ago realized prices of $15.02 for silver and $1,366 for gold.
All-in sustaining costs fell 29% Y/Y to $14.91 per silver oz. payable as a result of lower operating costs.
Endeavour says it tallied $1.9M in cash flow from operations before working capital changes, and EBITDA of $1.2M, despite the suspension of mining for all of April and part of May.
At the end of the quarter, Endeavour maintained a cash position of $30.5M along with working capital of $44.6M.
Endeavour shares are enjoying a boost from today’s rise in silver prices, with September Comex silver +3.9% to $25.37/oz.