Endeavour Silver with strong financial results

Endeavor Silver (NYSE: EXK; TSX: EDR) announced today that gross revenues in 2020 were $ 140.3 million, up 15% from $ 121.7 million in 2019, through the sale of 3.5 million ounces of silver and 35,519 ounces of gold at average realized prices of $ 21.60 per ounce of silver and $ 1,846 per ounce of gold.

The company's operating cash flow, before changes in working capital, was $ 28.8 million, down from a loss of $ 8.9 million in 2019; pre-tax operating cash flow for the mine was $ 56.2 million compared to $ 14.9 million in 2019. Endeavor Silver reported net income of $ 1.2 million ($ 0.01 per share), compared to a net loss of $ 48.1 million in 2019; full year EBITDA was $ 29.4 million.

The company's 2020 metal production totaled 3,513,767 oz of silver and 37,139 oz of gold for 6.5 million oz AgEq, a 9% decrease from 7.1 million oz AgEq in 2019, which was primarily due to the discontinuation of the operation of the El Cubo mine on November 30, 2019. CEO Bradford Cooke commented, "While 2019 was operationally the most challenging year in our 16-year history as a manufacturing company, 2020 was perhaps one of the most satisfactory.

Notwithstanding a government-mandated two-month mine suspension due to the COVID pandemic, 2020 is in everyone our three operating mines achieved higher production and lower costs. " Endeavor Silver is a medium-sized precious metals mining company that owns and operates three high-grade underground silver-gold mines in Mexico: the Guanaceví Mine in Durango State, the Bolañitos Mine in Guanajuato State, and the El Compas Mine in Zacatecas State.