Endeavour Silver Q1 Production Up 78%, Revenue Soars 230% to $209.7M
Endeavour Silver produced 1.88M oz silver and 11,740 oz gold (3.34M oz AgEq) in Q1, a 78% increase from 2025, driving revenue to $209.7M, up 230%. Mine operating cash flow rose 419% to $114.6M and cash reserves reached $231.8M following Kolpa expansion and Terronera ramp-up.
1. Q1 Financial Highlights
Endeavour Silver produced 1,875,375 ounces of silver and 11,740 ounces of gold (3.34 million oz AgEq) in the first quarter, boosting revenue to $209.7 million and net earnings to $64.9 million from a $32.9 million loss in Q1 2025. Mine operating cash flow surged to $114.6 million, up 419%.
2. Operational Updates
The Kolpa plant expansion reached completion with throughput expected in line with full-year guidance, while Terronera commenced operations near design capacity. On January 15, the company sold the Bolañitos mine, recording a $35.6 million gain.
3. Cost and Margin Metrics
Cash costs were $22.54 per ounce of payable silver and all-in sustaining costs were $37.03 per ounce, compared to $19.05 and $41.19 in Q4 2025. Realized prices averaged $85.95 per ounce for silver and $5,035 per ounce for gold, underpinning margin expansion.
4. Balance Sheet and Outlook
Cash and equivalents totaled $231.8 million as of March 31, bolstered by strong operating cash flow and the Bolañitos sale. With higher production capacity, the company is positioned to pursue its full-year output targets and sustain financial flexibility.