Subscribe
Be the first with the news that moves the market- Endeavour Silver Corp. (TSX:EDR) has released a reduced prefeasibility study for its Terronera project in Mexico
- The updated prefeasibility study outlines a less compelling economic outlook for the site
- As a result, Endeavour’s Director of Project Development is compiling both studies to optimise the project before an independent feasibility study commences
- Alongside this news, the company announced it is implementing stringent on-site regulations to limit the spread of COVID-19
- Endeavour Silver (EDR) is down 3.85 per cent, with shares trading for C$2.00 and a market cap of $282 million
Endeavour Silver (TSX:EDR) has released a reduced prefeasibility study for the Terronera Project, as COVID-19 restrictions are impacting its operations.
The updated prefeasibility study for the Terrona Project, located in Mexico, reveals significant changes to the capital and operating cost. Due to these revelations, the new study outlines a less compelling economic outlook for the site.
As of yet, the company has not revealed the exact updated figures. However, Endeavour’s Director of Project development is currently compiling both studies to optimise the project before a feasibility study can commence.
Bradford Cooke, Endeavour’s CEO, is still certain the project will be an important development for the company.
“The Terronera Project has the potential to become our largest, lowest cost, and longest life mine.
We’re disappointed the latest draft PFS economics differ from the prior PFS economics. As a result, we have decided to reconceptualize the project using in-house expertise, so that Terronera can become a model for future mines,” he said.
Endeavour is also implementing stringent new on-site regulations, to limit the spread of COVID-19 and meet new government guidelines.
As a result, the company has cancelled all non-essential travel and is actively screening its employees for symptoms.
Endeavour has also increased supplies and spare part inventories to mitigate potential supply chain issues in the coming months.
However, the company was quick to point out that there are no recorded coronavirus cases at any of its operations.
Endeavour Silver Corp (EDR) is down 3.85 per cent, with shares trading for C$2.00 at 10:51am EST.
