Endeavour Silver Announces Board and Management Updates

• 2026-03-02: Endeavour Silver Announces Board and Management Updates
• George Paspalas appointed to the Board effective March 1, 2026.
• Don Gray (COO) to retire April 30, 2026; Luis Castro to assume COO duties March 1, 2026.
• Gord Bussieres appointed Vice President, Projects.
• Rationale framed as strengthening governance and execution to advance long-term growth (Terronera, Pitarrilla, and other projects).

• Quotes from Rex McLennan (Chairman) and Dan Dickson (CEO) emphasize momentum, strategic priorities, and momentum under new leadership.

• 2026-02-27: Endeavour Silver Announces Q4 2025 Financial Results; Earnings Call at 10AM PST (1PM EST) Today

• 2025 results feature strong year-over-year growth: 6.49m oz silver and 37.16k oz gold produced in 2025; silver eq. production 11.2m oz, up ~48% YoY.
• Revenue $467.5m (2025), mine operating cash flow, and cash position of $215.4m at year-end.
• Terronera achieved commercial production on Oct 1, 2025; Kolpa acquisition completed May 1, 2025.

• Financing activity: $350m convertible senior notes issued; debt repayment and Pitarrilla advancement funded; cash balance reported at year-end.

• 2026-01-16: Endeavour Silver Provides 2026 Guidance

• Detailed 2026 production and cost guidance across Terronera, Guanaceví, Kolpa, Bolañitos, Pitarrilla, and Parral (throughput, precious metals production, costs, capex, and exploration budgets).

• Highlights: Terronera + Kolpa integrated; improved overall silver eq. production guidance; consolidated cash costs and AISC provided; emphasis on disciplined capital allocation.

• 2026-01-08: Endeavour Silver Produces 6.49m oz Silver and 37,164 oz Gold, for a total of 11.2 Million Silver Equivalent Oz in 2025

• Full-year 2025 production results; Terronera commercial production in 2025; Kolpa and Bolañitos performance noted; plan to advance Pitarrilla; strong topline growth; cash position and working capital discussed.

• 2025-12-04: Endeavour Silver Completes US$350 Million Offering of Convertible Senior Notes

• Closing of $350m convertible notes; use of proceeds includes repaying debt, advancing Pitarrilla, and corporate purposes.

• Notes due 2031; conversion terms and investor protections described.

• 2025-12-01: Endeavour Silver Prices Offering of Convertible Senior Notes

• Initial pricing of convertible notes; $300m (notes due 2031) subsequently superseded by $350m closing.

• Proceeds to repay existing debt and finance Pitarrilla; regulatory steps and investor eligibility described.

• 2025-11-24: Endeavour Silver enters deal to sell Bolanitos mine

• Announcement of sale of Bolanitos to Guanajuato Silver Company Ltd. for upfront US$40m (US$30m cash + US$10m in GSV shares) with contingent payments based on silver equivalent milestones.

• The sale is positioned to refocus Endeavour on Terronera, Kolpa, and Pitarrilla, improve balance sheet, and unlock value from Bolanitos.

• 2025-11-07: Endeavour Silver Announces Q3 2025 Financial Results; Earnings Call at 10AM PDT (1PM EDT) Today

• Q3 2025: strong production growth (terribly boosted by Terronera commissioning and Kolpa integration) but net loss due to derivative contracts and commissioning costs.
• Terronera ramp is a focal point; 2025 highlights include commercial production at Terronera in October and ongoing integration of Culpa (Monero Culpa acquisition).

• Hedge-related mark-to-market losses contributed to quarterly loss; ongoing discussion around hedging, refinancing, and capital allocation.

• 2025-10-16: Endeavour Silver Announces Commercial Production at Terronera

• Terronera declared commercial production; plant performance meeting or surpassing 90% of design capacity; ramp-up plan outlined.

• Management commentary on the transformational impact of Terronera on Endeavour’s profile and cost structure; expectations of throughput and recoveries.

• 2025-10-08: Endeavour Silver Produces 1.77 Moz Ag, 7,755 oz Au in Q3 2025; Update on Terronera

• Q3 2025 production metrics across Terronera (ramp-up) and other mines; Terronera commissioning results; throughputs and recoveries discussed; reiterated guidance and strategic progress.

• 2025-08-13: Endeavour Silver Announces Q2 2025 Financial Results; Earnings Call details

• Q2 2025 results show continued production and cost metrics; Terronera planned ramp to production; Kolpa integration progress; exploration at Pitarrilla.

• 2025-04-01 to 2025-04-09: Endeavour Silver expands into Peru with Minera Kolpa acquisition; accompanying bought deal

• Acquisition of Kolpa (Huachocolpa Uno) with copper stream financing; bought-deal equity financing upsized to fund the cash component of Kolpa; strategic rationale includes diversification and expansion of silver-equivalent production; multiple details on financing structure and strategic rationale.

• 2025-03-11 to 2025-03-07: SEDAR filings and AGM notes

• AGM updates, interim MD&A/annual statements; discussion of assets, liabilities, and consolidation; 2025 guidance and strategic direction.

• 2025-05 to 2025-03: Various exploration results and project updates (Pitarrilla; Culpa; Terronera)

• Ongoing exploration at Pitarrilla; high-grade structures identified at Kolpa; results supporting expansion and feasibility work; ongoing capital planning.

• Nature of the most recent news (2026-03-02) is a governance update: appointment of a new board member (George Paspalas), a management transition (Luis Castro becomes COO with Don Gray retiring), and appointment of Gord Bussieres as VP Projects.
• Impact assessment:
• Materiality to financials: Low immediate material effect on revenue, costs, or project economics. It is governance/leadership alignment rather than a capital event or project milestone.
• Strategic execution: Positive signals for succession planning and project delivery, especially as Endeavour continues to scale Terronera and advance Pitarrilla and other projects. New COO and VP Projects may streamline execution and risk management on large development initiatives.
• Investor perception: Routine governance updates of this scale are typically viewed as neutral-to-positive, reducing execution risk and potentially supporting longer-term value realization if leadership executes effectively.
• Hidden risks: None directly associated with the board/COO change. Potential execution risk if transitions slow decision cycles, but the company frames the appointments as stepping-stones to accelerate strategic priorities.

Conclusion on materiality: The most recent news is routine governance-related, with a positive tilt due to leadership strengthening. It is not a game-changing development by itself, but it supports ongoing execution of Endeavour’s major growth projects.

• Company overview
• Endeavour Silver is a mid-tier silver-focused mining company with a portfolio including Terronera (Mexico), Guanaceví (Mexico), Bolañitos (Mexico), Kolpa (Peru), and Pitarrilla (Mexico; exploration/feasibility). Terronera is the flagship development project expected to drive the next phase of growth, with Terronera ramping toward commercial production in 2025 and full-scale production thereafter.
• Flagship project
• Terronera (Mexico): Ramp-up to commercial production achieved in October 2025; 2,000 tpd design capacity; ongoing optimization and expansion options. 2026 guidance emphasizes lower cash costs and a path to higher throughput as throughput plateaus and high-grade zones are loaded (La Luce) in mid-2026.