Endeavour Silver Corp. (NYSE:EXK) (TSX:EDR) has completed the previously announced At-the-Market offering for up to US$16.5 million. Under the ATM, Endeavour sold 8,017,694 shares for net proceeds of US$16.0 million. The funds will be used to advance exploration and development of the Terronera project, expedite brownfields exploration and development programs at existing mines, and add to working capital.
Endeavour CEO Bradford Cooke commented: “We are pleased to have completed this financing as it significantly strengthens our balance sheet and helps fund our growth projects. In particular, we have initiated an aggressive exploration program at the Terronera project to significantly expand the resources. This should allow us to model a larger, more economically robust high grade, underground silver-gold mine and complete the engineering work needed to deliver a pre-feasibility study.”
Endeavour Silver is a mid-tier precious metals mining company that owns three high grade, underground, silver-gold mines in Mexico. Since start-up in 2004, the company has grown its mining operations to produce 11.4 million ounces of silver and equivalents in 2015. We find, build and operate quality silver mines in a sustainable way to create real value for all stakeholders.
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