Endeavour Silver(EXK) ZACKS·2024-11-25 14:25Core Viewpoint - Endeavour Silver Corp. has entered into a bought-deal agreement to raise approximately 4.60 per share [1] Group 1: Financing and Project Development - The offering is expected to close around November 27, 2024, pending regulatory approvals, with underwriters having a 30-day option to purchase an additional 10% of shares [2] - The Pitarrilla project is a large undeveloped silver, lead, and zinc project covering 4,950 hectares, located 160 kilometers north of Durango City, Mexico, with significant infrastructure and necessary permits for underground mining [3] - Since acquiring the project in July 2022, Endeavour Silver has re-logged historic drill core and refurbished an underground ramp, extending it over 1.3 kilometers to test high-grade feeder structures [4] Group 2: Exploration and Geological Insights - Endeavour Silver has confirmed the presence of at least four high-grade feeder structures during the ramp development, including the Palmito, Danna, Victoria, and Casas Blancas veins, and identified additional mineralized structures [6] - The company has drilled nine diamond drill holes since August 2024, successfully encountering the target deposit and confirming the viability of underground bulk tonnage mining [7] Group 3: Financial Performance - In Q3 2024, Endeavour Silver produced 1.6 million silver equivalent ounces, a 14% decline year-over-year, with consolidated silver production falling 24% to 874,717 ounces, although gold production improved by 2% to 9,290 ounces [8] - The company reported adjusted earnings per share of 1 cent, surpassing the Zacks Consensus Estimate of breakeven earnings, and the top line grew 8.2% year-over-year to 55 million [9] Group 4: Market Performance - Endeavour Silver shares have gained 100% over the past year, significantly outperforming the industry's growth of 38.8% [10]