Pro Forma Group production is expected to be higher and AISC lower during the second half of the year, notably due to the mining of the higher-grade Kari Pump deposit at Houndé and the restart of mining activities at the Boungou mine. Endeavour Silver Corporation published this content on 09 November 2020 and is solely responsible for the information contained therein. Yes, I don't think we're going to average 1,200 tonnes per day at either operation next year, we're certainly going to be bumping up against it on a regular basis. Hi, Brad. In addition, gold in circuit increased due to gold locked in the heap which is expected to be recovered in the upcoming quarters. By. Net cash used in investing activities in Q2-2020 was down $9 million as Endeavour received $12 million of proceeds for the sale of its fleet at Karma and associated spares, as part of the shift to owner mining, whereas Q1-2020 included a $5 million payment for the increased Ity ownership (contingent consideration based on ounces discovered). For more information and notes, please consult the Company’s MD&A. The average grade milled is however expected to increase throughout the second half of the year. A, we get to go find out where that ore is coming from and gives us a little bit of exploration opportunity, and like I say, ultimately keeps it in the ground. Accordingly, readers should not place undue reliance on forward-looking statements. We have lost care for as we use. The key upcoming expected catalysts are summarized in the table below. I should point out that we did carry a significant increased metal inventory through the quarter end, largely because of the summer run-up in metal prices and then the significant correction at the end of September. The majority of drilling was focused on the Le Plaque area and on near-mill targets such as Verse West and Leach pad and Daapleu SW. As announced on July 7, 2020, drilling has resulted in a 43% increase in Le Plaque’s Indicated resource estimate to 689,000 ounces. The H1-2020 royalty expense was $109/oz, up from $69/oz for H1-2019, due to both the higher realized gold price and an increase in the underlying royalty rate based on the applicable sliding scale (above a spot gold price of $1,300/oz, government royalty rates in Burkina Faso increase from 4.0% to 5.0%, and above a spot gold price of $1,600/oz rates increase from 4.0% to 5.0% in Côte d'Ivoire). Pro forma information has not been adjusted and is comprised of the simple weighted average of information provided for each of Endeavour and SEMAFO. Surendhar M - November 7, 2020. Tonnes milled decreased due to the planned higher proportion of fresh ore in the blend. It's not quite on plan yet, but we achieved a 1,075 tonnes per day into a 1,200 tonne plant. Just any colour you can give us. Our cash flow jumped almost 400% to $10.3 million year-on-year. Endeavor Business Media delivers high-quality content in various B2B media markets. Nine months ended September 30, 2020 Silver sales $ - $ - $ 33,513 $ 4,958 $ 1,133 $ - $ 39,604 Gold sales Table 22: Working Capital Movement ─ Q2-2020 compared to Q1-2020, Table 23: Working Capital Movement ─ H1-2020 compared to H1-2019, NET CASHFLOW, NET DEBT AND LIQUIDITY SOURCES, Table 25: Cash Flow and Net Debt Position for Endeavour. It was a great run. Our goal is to completely deleverage the balance sheet in the coming quarters to further derisk the business, at which point we intend to initiate dividend payments.”. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", and "anticipates". Sustaining capital decreased from $0.5 million to $0.2 million. VANCOUVER, British Columbia, Oct. 01, 2020 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (NYSE: EXK, TSX: EDR) (the “Company” or “Endeavour”) announces it has entered into a sales … This is Godfrey's last earnings call, and so kudos, Godfrey. VANCOUVER, British Columbia, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (NYSE: EXK; TSX: EDR) released its financial results today for the three month and six month periods ended June 30, 2020. Taxes paid in H1-2020 decreased slightly compared to the previous year, despite significantly higher revenues, mainly due to a decrease of taxes paid at Houndé (due to installment payments being made). Facebook. Table 6: Ity CIL Quarterly Performance Indicators, Table 7: Ity CIL Half Yearly Performance Indicators, Table 8: Houndé Quarterly Performance Indicators, Table 9: Houndé Half Yearly Performance Indicator, Table 10: Agbaou Quarterly Performance Indicators, Table 11: Agbaou Half Yearly Performance Indicators, Table 12: Karma Quarterly Performance Indicators, Table 13: Karma Half Yearly Performance Indicators, Table 12: Mana Quarterly Performance Indicators, Table 13: Mana Half Yearly Performance Indicators, Table 16: Boungou Quarterly Performance Indicators, Table 17: Boungou Half Yearly Performance Indicators, Amounts include expensed, sustaining, and non-sustaining exploration expenditures. The royalty expense increased from $100/oz in Q1-2020 to $119/oz in Q2-2020. The 2020 estimates are for Endeavour Silver Corp. earnings to decrease by -267.1%, but the outlook for the next 5-year period is at 0% per year. Then this is the van for you! An updated Lafigué deposit resource estimate is planned to be published in Q3-2020. Gold sales decreased by 25Koz in Q2-2020 compared to Q1-2020 as a result of lower production at the Ity, Karma and Agbaou mines. The collar expired at the end of June 2020 with the final payment on the collar due to early Q3-2020. We roughly make about 30% to 35% profit off that ore on a cash basis. Despite the COVID-19 pandemic, Agbaou continued to operate at near-normal levels under the Level 1 Response Environment, as describe in COVID-19 Section above, with no material changes to its mine plan required. Sustaining capital costs increased from $0.6 million to $2.0 million due to increased capitalized waste at the Kao North pit. ENDEAVOUR REPORTS STRONG Q3-2020 RESULTS AND DECLARES FIRST DIVIDEND Record cash flow per share l Net debt reduced by $298m to $175m l First dividend declared at attractive yield HIGHLIGHTS Q3-2020 production increased by 64% over Q2-2020 to 244koz while AISC decreased by $33/oz to $906/oz Production expected to continue to increase in Q4-2020 due to Boungou restart and ramp-up … Throughput steady, gold grades on plan. AISC increased as guided due to mining at deeper elevations and increased sustaining capital related to the component change-out associated with heavy mining equipment. I'd just like to open with comment on the quarter. Canada Endeavour Consulting offices in Toronto, Halifax, London, Edmonton and Montreal Quebec. As compared to the 724 units sold in November 2019, the Endeavour recorded a 11 per cent degrowth last month. As guided, production decreased due to lower grades which were slightly offset by higher plant throughput. On behalf of Endeavour Silver, I'd like to thank you again for joining our call. What's happening in, we've made significant profits in Bolanitos this year, but we've been offsetting those profits against previous year's losses. Throughput and recovery rates are expected to decrease slightly in the second half of the year as greater volumes of harder fresh ore are expected to be processed. RRP is $71,490. Per this projection, the revenue is forecast to grow +15.8% above that which the company brought in 2019. We make sure that every worker as they come in, their temperature is checked, they're sprayed down, everybody is wearing a mask 100% of the time. Growth project spend decreased to  $2 million in Q2-2020 as the Ity CIL plant was completed in Q1-2019. Hi, Craig. Since the outbreak of the global COVID-19 pandemic, Endeavour has focused on the well-being of its employees, contractors and local communities, while ensuring business continuity. Endeavour Global is the sales and marketing agency of choice for national and international clients. I would now like to turn the conference over to Galena Meleger, Director, Investor Relations. AISC decreased mainly due to slightly higher sales volumes and lower mining unit costs which more than offset higher royalties and higher processing and G&A unit costs. Figures presented and disclosed relating to SEMAFO operations represent classifications and calculations performed using consistent historical SEMAFO methodologies. We have also maintained our exploration activities, with 85% of our FY-2020 budget already spent in the first half of the year, ahead of the rainy season. Operating Cash Flow Per Share is a Non-GAAP measure. Endeavour’s shift to national suppliers located within host countries over the past 12 months has mitigated the impact of closed borders. Net Debt and Adjusted EBITDA are Non-GAAP measures. The non-GAAP information should not be viewed as a substitute for, or superior to, other data prepared in accordance with GAAP. Refer to the non-GAAP measure section of the MD&A for Endeavour and refer to the non-IFRS measures note in this press release for SEMAFO. You did touch on─our deferred tax actually went from $7 million to $5 million. 12/18: ENDEAVOUR SILVER: Dual Listed Endeavour Silver Agrees to Sell El Cubo Mine in M.. MT. Because the veins have clean walls, and these are not disseminated bodies with low-grade halos, I don't think there's much change in our approach. Meanwhile, sales figures of the Ford Endeavour in November 2019 were 724 units. AISC decreased as a result of higher ounces sold, lower unit processing and G&A costs and a lower strip ratio. We grow customer bases to ensure our clients realize strong returns. Thanks for your question. CRM Consultants for PowerApps, Office 365, and Azure Cloud. Table 1: Endeavour Operational and Financial Highlights. Again, implying that there's still room for improvement on throughputs. Basically, we're actually using up that deferred tax asset, which is a non-cash item. The link to the External Site is provided for convenience purposes only. For a discussion regarding the company’s use of Non-GAAP Measures, please see "Note Regarding Certain Measures of Performance" in the MD&A. Thank you. Welcome to the Endeavour Silver Corp. Third Quarter 2020 Financial Results Conference Call. In Chile, we are currently drilling at the Paloma property, and we're following up on an intersection that we got last year in our first hole. Protecting the well-being of employees, contractors, and local communities. Inflow mainly related to the decrease in stockpiles, GIC and consumables at Ity and Houndé offset by an increase in GIC at Karma. The realized gold price excluding the gold stream at Karma, would have been $1,653/oz for H1-2020 and $1,311/oz for H1-2019. Several key personnel changes were made at Boungou, including the appointment of a West African General Manager, to accelerate the integration process into Endeavour’s operating model. Plant feed in H2-2020 is expected to be sourced primarily from the Daapleu pit, while continuing to be supplemented by ore from the Ity pit and lower grade historic heap dumps. The Company expects to mitigate the impact of the COVID-19 pandemic due to the higher grade profile expected in H2-2020. For something a bit different - brand new Atlantic Endeavour 19'9 with single beds. No mining activity took place during the quarter. Team GaadiWaadi - March 8, 2020. Our decision to close was because we exhausted reserves, and the remaining resources we felt we're just too small for us to restart a 1,500 tonne plant. Atlantic Endeavour 20' New stock in the yard now and ready - 2020 model INTERNAL Full rear ensuite Side club lounge - perfect for relaxing or entertaining. The mine plan prioritized both waste extraction and the completion of the TSF raise in Q2-2020 which provides the Company with increased operational flexibility should the mine be forced to operate under a Level 2 or 3 Response Environment which would restrict the number of employees on site and reduce mining activity. On behalf of the Board of Directors I wish him all the best in the future.” added Sébastien de Montessus. Bolanitos continued to improve. Sure, I could take that one. To join the question queue, you may press star, then one on your telephone keypad. AISC increased slightly due to a higher royalty cost related to the increase in the average realized selling price. Good points, good question, Chris. It's hard to speak to it just on a consolidated basis and getting below $100 on a consolidated basis for Q4 probably will be difficult only because a significant driver to all this is Guanacevi, and Godfrey touched on it. I mean, with higher prices, is there some, let's call it, mineralized material that was outside the resource that might come in, or if you've been able to get any further in talks for neighbouring projects? M&A, restructuring and asset sale activities in Q2-2020 include an inflow $10 million related to the sale of mining equipment, in addition to $2 million received for associated spares, to the newly appointed contactor miner at Karma and a $7 million outflow associated to advisory fees for the SEMAFO transaction. Tonnes of ore mined increased due to the lower overall strip ratio as scheduled waste capitalization activity was delayed to later in the year. Ore was mainly sourced from the Vindaloo Central and Bouéré pits, which have a lower strip ratio, and supplemented by ore from the Vindaloo Main and Vindaloo North pits which have a slightly higher strip ratio. In addition, a waste stripping campaign commenced at the Kao North pit. Thank you, Operator. At number two is Ford Endeavour with 647 units sold in November. Subsequent to quarter-end, Endeavour closed both the acquisition of SEMAFO and the associated $100 million investment from La Mancha. to Shareholders, Net Debt inclusive of La Mancha investment, Start of mining higher grade Kari Pump deposit, Maiden reserve estimate for Kari West, Kari Center and Kari Gap, Less: Non-sustaining mining capital spend, Less: Non-sustaining exploration capital spend, Changes in working capital and long-term assets, $, Interest paid, financing fees and lease repayments, Cash settlements on hedge programs and gold collar premiums, Cash paid on settlement of share appreciation rights, DSUs and PSUs. This was mainly attributable to the negative non-cash working capital variance of $28 million compared to the positive $9 million variance in Q1-2020 (details in note 8 above), coupled with  a $17 million decrease in revenue as a result of 25koz fewer gold sold, a $17 million outflow related to gold collar fees and settlements, and an $12 million increase in taxes paid. Or should we be thinking about a certain percentage of plant capacity for the next 12 months? At Kalana, an exploration budget of up to $2.0 million has been planned for 2020 to follow-up on nearby targets, with the program expected to be conducted in H2-2020. 12/21: VANGOLD MINING: to Acquire El Cubo Mine and Mill from Endeavour Silver Corp: AQ. Endeavour believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors may find that the all-in sustaining cost per ounce sold better meets their needs by assessing SEMAFO’s operating performance and its ability to generate free cash flow. But because it's such a low amount of throughput and scope of that operation, it really hits the cost per tonne. uncountable (effort) effort nm nom masculin: s'utilise avec les articles "le", "l'" (devant une voyelle ou un h muet), "un". 2 See Footnote 2 below Table 5. Production decreased due to lower average processed grades and throughput while recovery rates remained flat. Effectively, in Q3, we paid about on, across all our tonnes, we paid almost $28 of royalty per tonne in there. Production increased slightly as higher processed grades and a slightly better recovery rate more than offset the slightly lower throughput. Mining underground unit costs per tonne of ore increased from $60.26 to $69.31 as a result of the lower tonnes extracted. The amount for H1-2020 increased slightly compared to the corresponding period of H1-2019 mainly due to interest payment on equipment leases at Ity. Okay. I was wondering if you could give me some more clarity in terms of grades as how we should think about Q4 here, in particular, Guanacevi. With the successful integration of the SEMAFO assets into Endeavour's West African operating model largely complete, Benoit Desormeaux, former CEO of SEMAFO who joined Endeavour as President upon transaction close, has decided to step down to pursue other opportunities. The average estimate suggests sales growth for the quarter will likely rise by 5.2% when compared to those recorded in the quarter in the last financial year. This is a non-GAAP measure. Our next question is from Joseph Reagor with ROTH Capital Partners. I wonder if you could just give us a sense of how you would apportion this cash flow by a way of preparation for Terronera, obviously, what's happening with Parral, and maybe the need for mine life expansion through drilling and discovering actual operating assets. Sustaining and non-sustaining capital spends for FY-2020 remain unchanged compared to SEMAFO’s published guidance, and are expected to amount to approximately $10.0 million and $3.0 million, respectively (of which $0.7 million and $1.3 million were incurred in H1-2020, respectively). Both Endeavour and Coles reported that sales were initially negatively impacted by bushfire smog and floods at the beginning of 2020, before being impacted by COVID-19 later in the quarter. It's a little bit, maybe just broad, obviously with higher margins we're experiencing right now on the back of good metal prices and, obviously, your reduced costs, that speaks to higher cash flow. Company name: ENDEAVOUR TACTICAL LTD Company number:. Toyota Fortuner vs Ford Endeavour (Sales Report): Endeavour and Fortuner are the two most practical options that buyers can have around INR 32 lakh (with 10% up/down value for different variants).Not just that, both the cars have received considerable upgrades and … Same thing at Parral. Net income or earnings came in at a positive $0.5 million compared to almost $7 million loss a year-ago. Further details by asset are provided in the above mine sections. I'll get back in queue. What that implies is that if we had sold that metal, our earnings would actually be in the $10 million range, not the $0.5 million range. Unsurprisingly, Ford India’s Endeavour follows its arch-rival at almost half the number of sales. November 2020 - Endeavour is a remote Application Support & Consulting firm with a focus on Microsoft Dynamics 365 Business Central (Cloud ERP), Dynamics NAV ERP, Microsoft Dynamics 365 CRM, PowerApps, Dynamics GP, Office 365, and Azure Cloud. A key difference between SEMAFO’s operating model and that of Endeavour is the reporting structure, where Endeavour’s mines benefit from the presence of technical experts and a logistics platform based locally on site rather than at the head office which allows for quick decision making and synergies. We chose not to sell a significant amount of silver and gold at the end of the quarter. Potential differences may include, but not limited to, classification of corporate costs and operating expenses, classification of mining, processing, and site G&A costs, classification of capitalized waste as sustaining and non-sustaining, valuation of stockpiles and gold in circuit. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide . Please go ahead. YoY sales are down -11%, as compared to 724 units sold in November last year. Just if I can chip in, for the rest of our listeners, the context of our portfolio in Chile is that these are all high impact world-class targets. Let's drill down a little bit into the numbers. Sustaining capital costs decreased from $5.4 million to $1.4 million primarily due to the lower capitalized waste. With me on the line today we have the Company's Chief Executive Officer, Bradford Cooke; our Chief Financial Officer, Dan Dickson; our Chief Operating Officer, Don Gray; and our President, Godfrey Walton. Hey, good morning, guys. Adjusted Net Earnings amounted to $86 million in H1-2020 (or $0.78 per share), an increase of $83 million compared to H1-2019 due to the benefit of higher production at a higher realized gold price. I think you're going to see grades continue at Guanacevi. Ore tonnes stacked increased due to the benefit of the recently completed conveyor and stacking system upgrades. The non-sustaining capital spend increased in Q2-2020 compared to Q1-2020, due to increases at Houndé and Karma. Those programs aren't going to grow or shrink. EDV and Virtua also take no responsibility for third party pricing data provided for informational purposes and certain ratio results formulated from the provided third party pricing data. They're not going to grow. That's actually really good how are you guys play off of one another. Staying with the analyst view, there is a consensus estimate of $174.28 Million for the company’s annual revenue in 2020. Good morning, everyone, and welcome to the Endeavour Silver 2020 Third Quarter Financial Results Conference Call. Pinterest. It's only 250 tonnes per day. The grade needs to be good. Facebook. I guess first thing, Terronera. AISC increased due to lower ounces of gold sold, higher royalty rates, a higher strip ratio, lower recovery rates and higher unit mining costs. Thank you. Endeavour expects stronger cash flow generation in the second half of the year, due to higher production, lower non-sustaining spend (already 65% of FY-2020 guidance completed in H1), lower exploration spend (already 85% of FY-2020 guidance completed in H1), the benefit of higher gold prices and its gold collar program (with a cap of $1,500/oz for half its production) finishing at the end of June 2020. Unsurprisingly, Ford India’s Endeavour follows its arch-rival at almost half the number of sales. Very exciting times for us. Gold sales increased in H1-2020 compared to H1-2019 due to higher production from the Ity mine which was  commissioned in Q2-2019. An exploration program of up to $14.0 million totaling approximately 100,000 meters has been planned for 2020, with the aim of growing the Le Plaque, Bakatouo, and Daapleu deposits, and testing other targets such as Floleu and Samuel. 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