Endeavour Silver Corp. (NYSE:EXK) Q2 2022 Earnings Conference Call August 9, 2022 1:00 PM ET

Company Participants

Galina Meleger - Vice President, Investor Relations

Dan Dickson - Chief Executive Officer

Conference Call Participants

Marcus Giannini - H.C. Wainwright

Jake Sekelsky - Alliance Global Partners

Joseph Reagor - ROTH Capital Partners

Justin Stevens - PI Financial

Operator

Thank you for standing by. This is the conference operator. And welcome to the Endeavour Silver Second Quarter 2022 Financial Results Conference Call. As a reminder, all participants are in a listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. [Operator Instructions]

I would now like to turn the conference over to, Galina Meleger, Vice President of Investor Relations. Please go ahead.

Galina Meleger

Good morning, everyone and welcome to today's call. Before we get started, I would ask that you view our MD&A, the cautionary language regarding forward-looking statements and the risk factors pertaining to these statements. Our MD&A and financial statements are available on our website under our disclosure portal.

You will have seen that there was a retransmission to today's news release that went through about 30 minutes ago. The amendment was with regards to a correct estimate for our 2022 all-in sustaining cost forecast of $20 to $21 per ounce net of the gold credit. This is the only change made to the news release.

With us on today’s call we have Dan Dickson, Endeavour Silver’s CEO and Christine West, our CFO. On behalf of Endeavour Silver, I'd like to thank you again for joining our call today.

And I'll now turn it over to our CEO, Dan for his formal remarks.

Dan Dickson

Thank you, Galina, and welcome everyone to this conference call for the second quarter of 2022. Before we discuss our Q2 results, I'd like to touch on current market conditions. While our operational performance has been strong, our stock price has been impacted by sell-off across equities in both the broader markets and in the precious metals. The gold miner equities have disconnected from the actual metal prices and have underperformed their underlying commodities.

Year-to-date, the S&P is down 20%, gold and silver equities are down 30% and similarly our stock is trading down about 30%, despite our robust operational performance. We remain confident that the current environment is bullish for gold and silver, especially as we are nearing peak rate expectations in this hiking cycle and inflation remains persistent. Recently, we've seen positive movements in our space. We expect this trend to accelerate in the second half of this year with the potential for precious metals to make a strong rebound.