Endeavour Silver Corp. (NYSE: EXK) shares are on a significant rise today, climbing 8.05% to $5.56 on the US stock charts. The positive momentum came after Endeavour released an important construction progress report for its Terronera Project, located in Jalisco, Mexico. The company’s update on the project’s third-quarter performance highlights substantial advancements, bringing the company closer to operational readiness.
Terronera Project Nears Operational Phase
The Terronera Project made notable progress throughout Q3 2024, with the Upper Plant Platform nearing completion. Construction on the surface mill and infrastructure has reached 90%, setting the stage for future operational activities.
Current efforts are focused on the Lower Platform, where concrete work is advancing steadily, along with the Tailing Storage Facility, which is seeing significant development with embankment fill and pipe installation. The primary jaw crusher, a critical component of the processing plant, was commissioned in August, further accelerating the project’s momentum.
Ongoing Development and Community Support
As of September 30, 2024, Endeavour is well into the final construction phase of the project. Health and safety measures for operational readiness are being implemented, including the arrival of mine rescue equipment and the recruitment and training of team members.
Two refuge stations have also been installed to enhance site safety. EXK continues to support the local community through various initiatives, such as scholarships for university students, environmental education programs, and municipal infrastructure improvements.
Project Milestones and Future Outlook
Overall, the Terronera Project reached 77% completion by the end of Q3 2024, with more than $258 million of the budget already spent. The underground development of 1,051 meters during the quarter brings the total to 5,544 meters, with the completion of the main sump and pump station excavation. Procurement is nearly complete, with 99% of materials secured.
Looking ahead to Q4 2024, the tailing filter area will be a key focus, with system commissioning expected near the end of the quarter. Endeavour (EXK) anticipates initial testing of grinding, flotation, and thickening systems in November and December, signaling the final steps towards full operational status.
