Endeavour Silver Produces 1,943,955 Oz Silver and 10,474 Oz Gold, for a total of 3.4 Million Silver Equivalent Oz in Q2 2026
Endeavour’s Kolpa expansion drove a 31% year-on-year silver output increase, with first-half production tracking slightly below the mid-point of guidance.
Endeavour Silver Corp. (EDR) reported second-quarter 2026 production of 1.94 million ounces of silver and 10,474 ounces of gold, resulting in consolidated silver-equivalent output of 3.4 million ounces. Year-over-year silver production increased by 31% and gold production rose by 35%, though these comparisons include the full quarter of Kolpa and Terronera, which were not operational in Q2 2025.
At Terronera, the company produced 608,347 ounces of silver at a grade of 126 g/t Ag, with silver recoveries improving to 85.4% and gold recovery reaching 72.6%. Management indicated that Terronera is on plan for its first-half ramp-up, with mining operations scheduled to shift to higher-grade areas in the third quarter.
Kolpa produced 633,288 ounces of silver, representing a 19% quarter-over-quarter increase, following a plant expansion that enabled throughput of 2,565 tonnes per day. Meanwhile, Guanaceví produced 702,320 ounces of silver, falling below plan due to grade and dilution issues.
The company maintained an upbeat tone regarding operations but did not provide cost figures. Q2 financial results are scheduled for release on July 29, 2026.
Endeavour Silver Corp. (EDR) released its Q2 production update, revealing output that remains within the guided full-year range. This performance was driven by a steady ramp at Terronera and expansion efforts at Kolpa. The market had already priced in a back-half-weighted year, and the stock’s modest positive reaction on July 8, which saw a 6.7% increase from the prior close, suggests the figures were in-line with expectations and raised no red flags.
The absence of a guidance tweak is considered neutral. However, the lack of cost data limits the ability to assess whether the promised AISC decline is on track.
Endeavour Silver Corp. (EDR) operates as a mid-tier silver producer with three active mines. The Terronera mine, located in Jalisco, Mexico, is an underground operation with a 2,000 tpd capacity that commenced commercial production in October 2025, generating a revenue mix of 60% silver and 40% gold. In Huancavelica, Peru, the company acquired the Kolpa mine in May 2025; this polymetallic facility producing silver, lead, zinc, and copper expanded its original 1,800 tpd capacity to over 2,500 tpd. Additionally, the Guanaceví mine in Durango, Mexico, is a mature high-grade operation with an 80% silver and 20% gold revenue mix.
The company also holds the Pitarrilla development project in Durango, Mexico, which contains a 600 moz silver resource and is currently undergoing a feasibility study, alongside the Parral optionality. Endeavour Silver sold the Bolañitos mine in January 2026.