Endeavour Silver produced 11 million silver-equivalent ounces in 2025, a 48% gain from 2024, including 2 million ounces of silver and 14,000 ounces of gold in Q4. The company reported record revenue of $468 million, mine operating earnings of $83 million and mine operating cash flow before taxes of $156 million.

Permits for the LNG plant have been secured and site connection work is slated for completion in Q1 2026, with a storage permit expected in the coming weeks. Full conversion to LNG power is targeted for Q2 2026 to enhance electrical reliability and cut power costs through the year.

The company closed 2025 with $215 million in cash and raised $350 million through a convertible debt offering to advance the Pitarrilla development. Planned expenditures include $68 million in 2026, a feasibility study in Q3 2026, and a construction decision in early 2027.

Late-2025 operations faced electrical interruptions due to diesel generator starts and stops, prompting reliability improvements in early 2026. Direct operating costs rose 8% in 2025, driven by ramp-up impacts, elevated royalties, third-party ore purchases and a one-off $16.3 million of capital spending at Terronera.