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Endeavour Silver cuts 2017 production guidance as Q2 silver output drops 26%

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Endeavour Silver cuts 2017 production guidance as Q2 silver output drops 26%

Endeavour Silver Corp. cut its 2017 production guidance to a range of 4.8 million to 5.2 million ounces of silver and 49,100 to 51,200 ounces of gold.

Silver equivalent output is forecast at 8.5 million to 9.0 million ounces for the year, according to the company's Aug. 3 release.

Endeavour Silver previously expected to produce between 5.2 million and 5.7 million ounces of silver and between 50,000 and 53,000 ounces of gold during the year.

Silver production dropped 26% to 1.1 million ounces in the second quarter on an annual basis, while gold production fell 17% to 13,058 ounces.

The company attributed the production decrease to differences in annual mine plans.

Endeavour Silver expects output to rise in the second half of the year with increased access to reserves at its Guanacevi, Bolañitos and El Cubo mines in Mexico.