Production roundup: Endeavour Silver, Capstone, Hecla

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Wednesday, January 10, 2018

Mexico-focused Endeavour Silver achieved a sharp rise in production in Q4, with output up at all three of its mines.

Silver production was 1.44Moz, up from 1.09Moz in 4Q16, with gold at 14,577oz compared with 11,402oz.

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El Cubo saw the biggest rise, producing 612,133oz silver and 6,128oz gold, up from 362,324oz and 4,244oz, respectively.

Companywide full-year production was 4.92Moz silver, down from 5.44Moz in 2016, and 53,007oz gold compared with 57,375oz.

Endeavour also has the Bolañitos and Guanaceví silver-gold operations. Initial production at the El Compás primary gold project, also in Mexico, is expected in March, the company said, while permitting is advancing at Terronera.

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Capstone Mining produced 4,254t copper at its Cozamin mine in Mexico in Q4, up from 4,001t in the same quarter of 2016, on higher grades and recoveries, partly offset by lower tons processed.

The mine also produced 1,015t zinc and 263,285oz silver, down from 1,100t and 265,251oz, respectively.

Full-year output at Cozamin was 16,732t copper and 4,232t zinc, up from 14,307t and 4,193t, respectively, in 2016, with silver production unchanged at 1.0Moz.

Companywide copper production was 23,400t in Q4 and 90,300t in 2017, down from 29,900t in 4Q16 and 114,600t in 2016. Capstone also has mines in the US and Canada.

In 2018, the company expects to produce about 90,000t copper at cash costs of US$1.85-1.95/lb, including 15,000t at cash costs of US$1.00-1.10/lb at Cozamin.

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Hecla Mining's San Sebastián mine in Mexico produced 759,100oz silver and 5,955oz gold in Q4, down from 860,017oz and 7,042oz, respectively, in the same quarter of 2016.

Full-year output was 3.26Moz silver and 25,177oz gold, down from 4.29Moz and 34,042oz in 2016.

The company, which also has mines in the US and Canada, produced 2.98Moz silver and 60,964oz gold in Q4, down 25% and 4%, respectively, from the same quarter of 2016.

Full-year output was 12.5Moz silver, down 27% from 2016, and 232,685oz gold, compared to 233,929oz.