Ms. Meghan Brown reports
ENDEAVOUR SILVER ADJUSTS SECOND QUARTER 2013 REVENUES 12% HIGHER; SECOND QUARTER 2013 FINANCIAL RESULTS TO BE RELEASED TUESDAY, AUGUST 6
Endeavour Silver Corp.'s second-quarter 2013 revenues, reported on July 10, 2013, were understated by 12 per cent due to the marking to market of certain concentrate sales that had already received final pricing during the quarter.
The revised revenues for second-quarter 2013 are $71.3-million, a new quarterly record for the company, up 76 per cent from second-quarter 2012. The realized metal prices were also understated and have been revised upward to $21.38 per ounce of silver and $1,297 per ounce of gold sold (see the revised table of second-quarter 2013 operating results).
REVISED OPERATING RESULTS
Three months ended Six months ended
June 30, June 30,
2013 2012 2013 2012
71.3 40.5 141.1 89.5
1,787,571 1,075,000 3,302,648 2,175,000
25,477 5,650 41,201 13,146
21.38 (2) 29.21 25.05 (2) 31.18
1,297 (2) 1,599 1,417 (2) 1,648
(1) Silver-equivalent ounces are calculated
using a 60:1 ratio.
(2) Revenue from the sale of concentrates is
subject to adjustments upon final settlement.
Concentrate sales are subject to mark-to-
market accounting treatments resulting in
quarterly closing prices used for a
significant portion of metal sales.
Furthermore, reported revenue and realized
prices include adjustments to prior-quarter
sales on final settlement.
The company plans to release its second-quarter 2013 financial results after the market closes on Tuesday, Aug. 6, 2013. A telephone conference call to discuss the second-quarter 2013 financial results will be held at 10 a.m. PDT (1 p.m. EDT) on Wednesday, Aug. 7, 2013. To participate in the conference call, please dial the following:
- 800-319-4610 in Canada and the United States (toll-free);
- 604-638-5340 in Vancouver;
- 604-638-5340 outside of Canada and the U.S.;
- No passcode is needed to participate in the conference call.
A replay of the conference call will be available by dialling 1-800-319-6413 in Canada and the U.S. (toll-free) or 1-604-638-9010 outside of Canada and the U.S. The required passcode is 4890 followed by the pound sign.
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