Endeavour Silver Corp. (NYSE:EXK) Q1 2024 Earnings Conference Call May 9, 2024 1:00 PM ET

Company Participants

Galina Meleger - Vice President, Investor Relations
Dan Dickson - Chief Executive Officer
Donald Gray - Chief Operating Officer
Elizabeth Senez - Chief Financial Officer

Conference Call Participants

Lucas Pipes - B. Riley Securities
Heiko Ihle - H.C. Wainwright
Craig Hutchison - TD Securities
Robert Carlson - Janney Montgomery Scott
Jake Sekelsky - Alliance Global Partners

Operator

Thank you for standing by. This is the conference operator. Welcome to the Endeavour Silver Corp. First Quarter 2024 Financial Results Conference Call. [Operator Instructions].

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

Galina Meleger

Thank you, operator, and good day, everyone. Before we get started, I ask that you view our MD&A for 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 at www.edrsilver.com.

With us on today's call is Dan Dickson, Endeavour Silver's CEO as well as Elizabeth Senez, our Chief Financial Officer; and Don Gray, Endeavour's COO. Following Dan's remarks, we will then open up the call for questions. And now over to Dan.

Dan Dickson

Thank you, Galina, and welcome, everyone. On 2024, we hit the ground running with a solid start. Market sentiment has heated up as golds reached new all-time highs and silver is starting to follow. Our cash flow benefit from these higher prices and our share prices outperformed our peer sets thus far in 2024. From an operating standpoint, our operations are hitting their targets. Moreover, we made remarkable progress in the construction of our next cornerstone mine, Terronera, solidifying a bright future for the company. It's exciting to think that this time next year, Terronera will be contributing production to our profile.

Consolidated Q1 silver equivalent production totaled 2.3 million silver equivalent ounces or 1.5 million ounces of silver and 10,000 ounces of gold. This puts us in great shape to achieve 2024's production guidance between 8.1 million to 8.8 million silver equivalent ounces. The performance of both operating mines Guanacevi and Bolanitos remain steady and for lack of better word script. Gold grades of both operations were slightly ahead of plan, offset by silver grades that were slightly below plan. Silver equivalents are flat and we expect similar grade profile throughout 2024.