Endeavour Silver Provides Early Review of El Cubo Mine Plan for 2019
December 17 2018 - 6:07PM
Endeavour Silver Corp. (NYSE: EXK; TSX:
EDR) provides an early review of its 2019 mine plan for
the El Cubo mine, located in Guanajuato, Mexico.
Due to the current short mine life at El Cubo,
the Company plans to reduce the production rate in 2019 to
approximately half its 1500 tonne per day capacity, at higher
operating costs than 2018, while continuing to explore for new
reserves to extend the mine life. More details will be provided
when Endeavour releases its 2019 consolidated production and cost
guidance in January.
Accordingly, the Company has initiated layoffs
of approximately 240 employees to reflect the lower production rate
in 2019. The mine will continue to run at three shifts per
day but the plant will move to one shift per day next year. Some
idled mining equipment at El Cubo has been shipped to the El Compas
mine in Zacatecas to facilitate their mine plan in 2019.
About Endeavour Silver –
Endeavour Silver Corp. is a mid-tier precious metals mining company
that owns three high-grade, underground, silver-gold mines in
Mexico. Endeavour is currently commissioning its fourth mine at El
Compas, advancing a possible fifth mine at the Terronera mine
project and exploring its portfolio of exploration and development
projects in Mexico and Chile to facilitate its goal to become a
premier senior silver producer. Our philosophy of corporate social
integrity creates value for all stakeholders.
SOURCE Endeavour Silver Corp.
Contact Information - For more
information, please contact: Galina Meleger, Director Investor
RelationsToll free: (877) 685-9775 Tel: (604) 640-4804 Fax: (604)
685-9744 Email: gmeleger@edrsilver.com Website:
www.edrsilver.com
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Cautionary Note Regarding Forward-Looking
Statements
This news release contains “forward-looking
statements” within the meaning of the United States private
securities litigation reform act of 1995 and “forward-looking
information” within the meaning of applicable Canadian securities
legislation. Such forward‑looking statements and information herein
include but are not limited to statements regarding the anticipated
performance of the El Cubo mine in 2019, including changes in
mining, staffing and operation, anticipated results of exploration
and resource determinations, and the timing and results of various
activities. The Company does not intend to, and does not assume any
obligation to, update such forward-looking statements or
information, other than as required by applicable law.
Forward-looking statements or information
involve known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Endeavour and its operations to be materially
different from those expressed or implied by such statements. Such
factors include, among others, changes in national and local
governments, legislation, taxation, controls, regulations and
political or economic developments in Canada and Mexico; financial
risks due to precious metals prices, operating or technical
difficulties in mineral exploration, development and mining
activities; risks and hazards of mineral exploration, development
and mining; the speculative nature of mineral exploration and
development, risks in obtaining necessary licenses and permits, and
challenges to the Company’s title to properties; as well as those
factors described in the section “risk factors” contained in the
Company’s most recent form 40F/Annual Information Form filed with
the S.E.C. and Canadian securities regulatory authorities.
Forward-looking statements are based on
assumptions management believes to be reasonable, including but not
limited to: the continued operation of the El Cubo mine,, no
material change in the market price of commodities, mining
operations will operate and the mining products will be completed
in accordance with management’s expectations and achieve their
stated production outcomes, and such other assumptions and factors
as set out herein. Although the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements or
information, there may be other factors that cause results to be
materially different from those anticipated, described, estimated,
assessed or intended. There can be no assurance that any
forward-looking statements or information will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements or information. Accordingly,
readers should not place undue reliance on forward-looking
statements or information.
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