Endeavour Silver Corp.
Endeavour Silver operates the Guanacevi silver-gold mine and the newly commissioned Terronera silver-gold mine in Mexico, plus the Kolpa polymetallic mine in Peru following its January 2026 sale of the Bolañitos mine; Q1 2026 revenue jumped to $209.7 million from $63.5 million a year earlier on higher metal prices and Terronera's ramp-up, with $231.8 million of cash and $236.1 million of convertible senior notes outstanding as of March 31, 2026.
Notable vs. Peers
- Financials score of 5.5/10 is weaker than the peer average of 7.6/10.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Reached — date not disclosed · SEMARNAT approved Terronera's mine and plant construction permits in Q3 2017 (SEMARNAT approval of the environmental impact statement had followed in Q1 2017); reported in the Company's Q3 2017 production report. Exact day not confirmed from available sourcing -- recorded reached-but-undated. · Source
- Apr 2023 · Board decision to proceed with construction of the Terronera underground mine and mill, announced alongside execution of a commitment letter for a $120M senior secured debt facility. · Source
- Apr 2023 · No separately dated 'construction start' release distinct from the construction decision -- early works had been underway since Q1 2022, but full construction proceeded from the April 18, 2023 Board decision and financing commitment. Dated to that release rather than inventing a distinct later date (same convention as the GMIN row in the Task #305 batch1 script). · Source
- Mar 2025 · Terronera produced its first batch of concentrate during wet commissioning. Commercial production was declared later, effective October 1, 2025. · Source
- Reached — date not disclosed · Genuinely reached, but no single company-wide commercial-production date exists: Guanaceví and Bolañitos are long-established producing mines (multi-year operating histories, both with 2025 production guidance already issued as ongoing operations), while Terronera (Jalisco) is a newer addition that separately declared its own commercial production effective 2025-10-01, after consistently exceeding 90% of designed 2,000 tpd nameplate capacity and 90% of projected metal recoveries during commissioning -- noted here for completeness but not used as achievedDate, since Guanaceví/Bolañitos reached production years earlier and Terronera is a later addition to an already-producing company, not the company's original milestone. This row was missing entirely prior to 2026-08-21 -- a genuine data gap, not a stage error; Miner.stage was already correctly PRODUCTION. · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.
Your Rankings
Management Team
Chief Executive Officer of Endeavour Silver Corp., appointed effective 13 May 2021, responsible for the Company's strategic direction, vision, growth and performance. BComm, University of British Columbia. Joined Endeavour Silver in Mar 2007 as Controller, rising to CFO and building the Company's financial infrastructure over 14 years as it grew from four employees to a team of over 2,000. Earlier career: assurance group, KPMG LLP (2001-2007), focused on publicly traded precious-metals companies.
Chief Financial Officer of Endeavour Silver Corp. effective 1 Jan 2024. Fellow of the Institute of Chartered Accountants in England and Wales; undergraduate degree in Psychology, Oxford University. Over 20 years of accounting, corporate-finance and corporate-treasury experience. Career: began at Deloitte and Touche LLP's mining group (2002); Group Treasurer, First Quantum Minerals, London office (8 years); CFO for a group of Vancouver-based exploration companies (Fury Gold Mines, Tier One Silver, Coppernico Metals, Torq Resources) formed through acquisitions and spin-outs, immediately before Endeavour Silver.
Chief Operating Officer of Endeavour Silver Corp., appointed effective 1 Mar 2026, succeeding Don Gray (retired 30 Apr 2026). Mexican geological engineer, Geological Engineering degree, Instituto Politecnico Nacional (Mexico City, 1989), 33+ years of mineral exploration and mining experience. Joined Endeavour Silver as Project Geologist in 2004, promoted to Exploration Manager (2008) and Vice President of Exploration (2012), directly involved in guiding Endeavour's exploration programs including numerous new mineral discoveries in the Guanacevi and Guanajuato districts. Earlier career: geological engineer/projects manager/department head across the Mexican Government (Mexican Geological Survey, CONAE), 1990-1998; exploration manager for private Mexican mining companies (Minera Zocalo, Minera Fuerte Mayo, Minera Real de Panuco), 1998-2004.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Two directors put real money in at the June 2026 lows while most of the executive team was selling into strength. Kenneth Pickering bought 20,000 shares at $10.80 on 9 June and George Paspalas 5,000 at $12.72 on 3 June, both opening or building genuine positions. Against that, nine insiders sold about 125,000 shares between March and May at $13.30 to $15.41 -- roughly five times the buying -- so this is a divided register rather than a unified one. Precious-metals specialists including Sprott and Baker Steel Capital are present among the institutional holders, though our sources do not disclose the sizes of their positions. Van Eck Associates Corporation, the sponsor behind the GDX/GDXJ gold-miner ETF family, separately discloses a real 10.31% stake, though that exposure is largely index-driven rather than a specialist's discretionary pick.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
We haven't parsed this company's PEA/PFS/FS recommendations yet — cut-off grade, mine life, DCF/NPV, and the report's own next-steps guidance are a planned research pass, not live data for every company yet.