Silver price surge boosts financial performance of Terronera mine
Silver price increases are boosting the financial performance of Vancouver-based Endeavour Silver's projects, particularly its flagship US$271 million Terronera mine in Mexico’s Jalisco state, where the company has advanced in the development and production phases.
“In Q2, the price of silver experienced a significant increase, reflecting a renewed interest and confidence in precious metals. This upward trend not only underscores the strategic importance of our investments and operations but also aligns with our long-term vision for growth and value creation,” the company said in a note to investors.
Silver has seen a bullish streak this year. The metal was trading at US$29.82/oz on Thursday, up almost 19% from a year ago. Endeavour said it is well-positioned to capitalize on the favorable market conditions.
Terronera, an underground silver and gold mine, surpassed the 50% completion mark in Q1, representing a significant advance in the company’s expansion efforts, the note said.
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