September 2016
ENDEAVOUR SILVER CORP
NYSE:EXK
EXK
NYSE:
Property Locations
Overview
Endeavour Silver is a mid-tier precious metals mining company
that owns three high-grade, underground, silver-gold mines in
Mexico. Since start-up in 2004 the company has grown to 11.4
million ounces of silver equivalent production in 2015. We find,
build and operate quality silver mines in a socially, economically and
environmentally responsible manner to create real value for all our
stakeholders. Endeavour Silver’s shares trade on the TSX under the
symbol EDR and on the NYSE under the symbol EXK.
12
Production 2004–2015
Silver and equivalent ounces (milions)
HEAD OFFICE
PARRAL EL COMPAS
GUADALUPE Y CALVO
LOURDES
BOLAÑITOS MINE
GUANACEVÍ MINE
Mexico City
FIELD OFFICE
TERRONERA
10
EL CUBO MINE
8
6
TSX:EDR
EDR
TSX:
Silver
Silver Equivalent
Producing mines
Development properties
Exploration properties
2016 Catalysts
Reduce AISC for fourth consecutive year to
$12-13/oz in 2016
4
Generate free cash flow from each mine; test
laser ore sorting at El Cubo
2
Santiago
Drill Terronera to expand resources; 1,500+tdp
mine output
0
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Note: Silver equivalents based on 70:1 silver:gold ratio; no base metals
Investor Highlights
Mid-tier precious metals producer guiding 2016 production of
9.0-9.8 million oz Ag Eq
Three high-grade silver-gold mines located in two historic mining
districts of Mexico
Reduced AISC for three consecutive years, guiding reduction to
$12-13/oz Ag in 2016
Terronera silver-gold discovery still growing, advancing to prefeasibility stage in 2016
Fully permitted El Compas gold-silver project has potential to
become fourth mine near term
Organic growth driven by strategic acquisitions and new
discoveries fast-tracked to production
Cautionary Note on Forward-Looking Statements
This factsheet by Endeavour Silver Corp. (“Endeavour”) may include statements concerning future operations,
prospects, strategies, plans, projections, forecasts, financial conditions and economic performance, as well as
intentions and objectives, that are forward-looking statements within the meaning of the United States Private
Securities Litigation Reform Act of 1995. These statements are based upon a number of assumptions and estimates that are subject to significant risks and uncertainties, many of which are beyond our control.
Drill El Compas to expand resources;
consolidate district to expand mine-life
Re-engineer Terronera to deliver robust
economics at $15/oz silver
Grow through accretive mergers and acquisitions
Financial Highlights
(expressed in US$)
Revenue Mine operating cash flow
Operating cash flow(1)
Cash costs(2)
AISC(3)
$
$
$
$
$
2014
197 million
71 million
29 million
8.31/oz
16.79/oz
(1) Before changes in working capital
(2) $/oz silver, net of by-product credits
(3) All-in sustaining cost, $/oz silver, net of by - product credits
2015
$ 184 million
$ 58 million
$ 35 million
$
8.39/oz
$ 15.62/oz
Guanaceví Mine
Bolañitos Mine
Guanaceví is located 260 km northwest of the city of Durango
in the state of Durango. In 2016 Guanaceví is expected to
produced 3.9-3.1 million oz of silver and 6,000-7,000 oz of gold,
totalling 3.4-3.7 million oz of silver equivalents(1). Today, three
underground mines feed a central, 1,200 tonne-per-day plant
that produces doré bars, with a total work force of about 550
employees and 130 contractors.
Bolañitos is located 10 km northwest of the city of Guanajuato in
the state of Guanajuato. In 2016 Bolañitos is expected to produce
0.9-1.0 million oz of silver and 24,000-26,000 oz of gold, totalling
2.6-2.8 million of silver equivalents(1). Today, three underground
mining operations feed a central, 1,600 tonne-per-day plant to
produce silver-gold concentrates, employing 350 people and 220
contractors.
El Cubo Mine
Exploration and Development
El Cubo is located six km southeast of the city of Guanajuato
in the state of Guanajuato. In 2016 El Cubo is expected to
produce 1.7-1.9 million oz of silver and 19,000-21,000 oz of gold,
totalling 3.0-3.3 million of silver equivalents(1). Four underground
mining operations feed a central plant to produce silver-gold
concentrates, providing employment for 700 employees and 650
contractors.
In addition to three operating mines, Endeavour has a portfolio of
exploration and development projects in Mexico and Chile. These
include the Terronera project in Jalisco State, Mexico, where drilling
and engineering are under way, working toward the completion
of a pre-feasibility study by year-end 2016. Endeavour also owns
the El Compas project in Zacatecas State, Mexico, a high-quality
fully permitted gold-silver mine and a modern leased plant in
the historic silver mining district of Zacatecas. The El Compas
property covers 3,900 hectares and offers good exploration
potential to expand known resources.
(1) Silver equivalents calculated at a 70:1 gold:silver ratio
Bradford Cooke Godfrey Walton
Dan Dickson David Howe Luis Castro
Dale Mah
Miguel Ordaz
Meghan Brown
Analysts
Board of Directors
Management
CEO
President, COO
CFO
VP Operations
VP Exploration
VP Corporate Development
Director Mexico Projects
Director Investor Relations
Geoff Handley
Bradford Cooke
Godfrey Walton
Rex McLennan
Mario Szotlender
Ricardo Campoy
Ken Pickering
(1)(2)(3)
Chair
Director, CEO
Director, President, COO
Director(1)(3)(4)
Director(2)(3)(4)
Director(1)(2)
Director(1)(2)(4)
(1) Audit Committee
(2) Compensation Committee
(3) Corporate Governance and Nominating Committee
(4) Sustainability Committee
BMO Capital Markets
CIBC World Markets
Euro Pacific Capital
GMP Securities
National Bank
Raymond James
Rodman & Renshaw
TD Securities
Jessica Fung
Cosmos Chiu
Bhakti Pavani
CIan Parkinson
Greg Doyle
Chris Thompson
Heiko Ihle
Daniel Earle
Share Structure (August 31, 2016)
Sustainability
Corporate sutainability at Endeavour means more than just
conducting our business in an ethical manner. We aim to improve
the standard of living for all of our shareholders, employees
and the communities in which we work. In the workplace, we
employ rigorous safety standards, procedures and training to
ensure our employees work in a safe and healthy manner. In the
environment, we take extra measures to maintain and improve
the integrity of local ecosystems. In the communities, we support
local communities to enhance their standard of living.
Issued and outstanding
Options Fully diluted
Share price (Sept. 7, 2016)
Market cap (Sept. 7, 2016)
125.9 million
4.5 million
130.3 million
US$5.62
US$710 million
Contact:
301-700 West Pender St.
Vancouver, B.C. V6C 1G8
tel 604 685 9775
toll free 877 685 9775
fax 604 685 9744
email [email protected]
www.edrsilver.com
EXK: NYSE EDR: TSX