Endeavour Silver
Endeavour Silver is a Vancouver-based mid-tier precious-metals mining company that produces silver and gold from three operating underground mines in Mexico and Peru, with a development pipeline including Pitarrilla, one of the world's largest undeveloped silver projects.
- Company typePublic
- Founded2004
- HeadquartersVancouver, Canada
- Headcount501–1,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Endeavour Silver does
Endeavour Silver Corp. (NYSE:EXK, TSX:EDR) is a Vancouver-headquartered, Canadian-domiciled mid-tier precious-metals mining company focused on silver and gold production. As of 2025-2026, the company operates three producing underground mines — Guanaceví (Durango, Mexico; cornerstone high-grade silver mine in production since 2004 with 1,200 tpd agitated leach/Merrill Crowe processing), Terronera (Jalisco, Mexico; flagship 2,000 tpd underground silver-gold flotation mine that achieved commercial production on October 1, 2025 with a 10-year mine life and expected annual output of ~4M oz silver and 38,000 oz gold), and Minera Kolpa (Huancavelica, Peru; polymetallic silver-lead-zinc-copper mine at 4,400m elevation acquired May 2025, processing 1,800 tpd with plans to expand to 2,500 tpd).
The company's underlying technology is conventional underground silver-gold mining using mechanized ramp access, long-hole and cut-and-fill mining methods, with processing via agitated leach with Merrill Crowe (for dore bar production at Guanaceví) and conventional flotation (for concentrates at Terronera and Kolpa). Endeavour's core technical differentiator is its domain specialization in low-sulfidation epithermal vein deposits, the geological setting typical of high-grade Mexican silver districts, combined with an exploration team that has discovered multiple orebodies including eight along the 5km Santa Cruz vein at Guanaceví.
The business model is straightforward commodity production: Endeavour generates revenue by selling silver and gold dore bars plus polymetallic concentrates to international smelters, refiners, and commodity markets, with prices determined by LME and COMEX benchmarks. 2025 revenue was US$467.5M (up 115% YoY) on 11.2M oz silver-equivalent production (up 48% YoY), with 2026 production guidance of 14.6-15.6M oz AgEq. The company is dual-listed, dual-jurisdictional (Canada/Mexico and Peru operations), and supplements operating cash flow with periodic capital markets activity — most recently a US$350M convertible notes offering in December 2025 — to fund its development pipeline, led by the Pitarrilla project (one of the largest undeveloped silver resources in the world at 693.9M oz AgEq indicated).
Endeavour Silver firmographics
Firmographics- Name
- Endeavour Silver
- Legal name
- Endeavour Silver Corp.
- Website
- https://edrsilver.com
- Company type
- Public
- Founded year
- 2004
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Endeavour Silver is a Vancouver-based mid-tier precious-metals mining company that produces silver and gold from three operating underground mines in Mexico and Peru, with a development pipeline including Pitarrilla, one of the world's largest undeveloped silver projects.
- Ownership category
- akta.pro rank
Endeavour Silver industry classification
Industry- Product category
- Silver Mining
- NAICS
- Gold Ore and Silver Ore Mining (212220), Gold Ore and Silver Ore Mining (21222)
- SIC
- Gold And Silver Ores (1040), Metal Mining (1000)
- akta.pro primary industry
- Silver Mining (IMAKAEAB)
- akta.pro secondary industries
- Gold Mining (IMAKAEAA), Precious Metals Exploration & Project Development (IMAKAEAI), Precious Metals Ore Processing & Beneficiation (IMAKAEAD)
Keywords
Where Endeavour Silver is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices7 records
Markets served
Endeavour Silver business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D, Marketing or Sales
Revenue model
- Silver and Gold Metal Sales: Primary revenue from selling refined silver and gold produced at operating mines. Silver equivalent production of 11.2 million ounces in 2025 with revenue of $467.5 million. The company sells dore bars and refined metals to commodity markets.
- Concentrate Sales: Kolpa mine produces and sells lead-silver, zinc-silver, and copper-silver concentrates to smelters. Revenue includes by-product credits from lead, zinc, and copper production.
- Mine Divestitures: Sale of non-core mining assets such as Bolañitos mine to Guanajuato Silver for up to US$50 million, generating one-time proceeds.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Cash operating costs guidance of $12-13 per ounce of silver equivalent |
| Unit Pricing | Pay-as-you-go | All-in sustaining costs (AISC) guidance of $27-28 per ounce of silver equivalent |
| Unit Pricing | Pay-as-you-go | Guanaceví cash costs of $17.78/oz sold (2024), AISC $26.29/oz sold |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Endeavour Silver product offering
Product offeringCore offering
Endeavour Silver is a mid-tier precious metals mining company that produces silver and gold from three operating underground mines (Guanaceví and Terronera in Mexico, Minera Kolpa in Peru) and sells refined dore bars and polymetallic concentrates (lead-silver, zinc-silver, copper-silver) to global smelters and refiners at commodity market prices. The company also advances a portfolio of development and exploration projects, most notably the Pitarrilla Project, one of the largest undeveloped silver projects in the world located in Durango, Mexico.
Product overview
Endeavour Silver is a mid-tier silver mining company with a portfolio of operating mines and exploration projects. The company's core offerings include silver and gold production from three operating mines: Guanaceví (high-grade underground silver mine in Mexico), Terronera (flagship underground silver-gold mine in Mexico, achieving commercial production in October 2025), and Kolpa (polymetallic silver mine in Peru, acquired in May 2025). The company also advances the Pitarrilla project, one of the largest undeveloped silver projects in the world in Mexico, and maintains exploration projects in Mexico (Parral), USA (Bruner), and Chile (Aida). In January 2026, the company sold its Bolañitos mine to focus on core assets.
Differentiator
Problem solved
Functional benefit
Products and services
- Guanaceví Mine
- Terronera Mine
- Minera Kolpa Mine
- Pitarrilla Project
- Parral Project
- Bruner Gold Project
- Aida Project
Quantifiable outcome
- Record 2025 revenue of $467.5M, up 115% year-over-year
- +3 more outcomes
Companies that use Endeavour Silver
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
Endeavour Silver technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Endeavour Silver partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Guanajuato Silver CompanyminorEndeavour Silver sold its Bolañitos mine to Guanajuato Silver for up to US$50 million ($30M cash + $10M shares + up to $10M contingent payments). Deal closed January 2026, aligning with Endeavour's strategic focus on core assets.
Scale indicators14 records
Recent moves7 records
Expansion highlights5 records
Endeavour Silver competitors and assessment
Company assessmentDirect peers
- First Majestic Silver: Pure-play silver and gold producer with all operations in Mexico. Closest direct competitor to Endeavour given the Mexican operational focus, similar mine-by-mine silver/gold production profile, and comparable mid-cap market positioning.
- Hecla Mining: The largest primary silver producer in the United States with operations in the US and Mexico. Direct competitor in silver mining with similar portfolio of underground mines and growing production profile.
- MAG Silver: Silver-focused mining company developing the Juanicipio mine in Mexico in joint venture with Fresnillo. Highly comparable as a pure silver play with a flagship asset in Mexico; Endeavour's director George Paspalas was previously MAG's CEO.
- Coeur Mining: Precious metals producer with silver and gold operations across the Americas, including Mexico. Similar mid-tier precious metals producer with comparable underground mining methods and North American focus.
- Silvercorp Metals: Silver and gold producer with operations in China and recent acquisition of a silver project in Bolivia. Similar mid-cap precious metals producer with comparable production profile and growth-by-acquisition strategy.
- Pan American Silver: Major silver mining company with producing mines across Mexico, Peru, Bolivia, and Argentina. Direct competitor in silver production with similar geographic focus, particularly in Mexico and Peru, and similar mid-tier to senior scale.
- Fortuna Mining: Mid-tier precious and base metals producer with silver and gold mines in Mexico, Peru, Argentina, and Côte d'Ivoire. Comparable in scale and diversification, with similar Mexican/Peruvian operational footprint.
- SSR Mining: Precious metals producer with gold and silver operations. Relevant as the prior owner of the Pitarrilla project that Endeavour acquired in 2022; comparable mid-cap precious metals producer with a North American focus.
Broad incumbents
- Newmont Corporation: World's largest gold mining company with significant silver by-product production across the Americas. Provides relevant macro benchmark for precious metals and shares similar Latin American operational exposure.
- Fresnillo plc: World's largest primary silver producer and major gold producer, with all operations in Mexico. Indirect competitor at much larger scale; operates in the same Mexican silver districts as Endeavour and produces similar low-sulfidation epithermal silver-gold deposits.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Endeavour Silver social profiles
Digital presenceEndeavour Silver financial estimates
Financial estimateRevenue estimate
Valuation estimate
Endeavour Silver leadership team
Management profileNumber of profiles
Profiles14 records
Endeavour Silver subsidiaries and ownership
Company hierarchySubsidiaries1 record
Endeavour Silver funding detail
Funding detailFunding overview
Funding rounds7 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Endeavour Silver M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Endeavour Silver
What does Endeavour Silver do?
Endeavour Silver is a mid-tier precious metals mining company that produces silver and gold from three operating underground mines (Guanaceví and Terronera in Mexico, Minera Kolpa in Peru) and sells refined dore bars and polymetallic concentrates (lead-silver, zinc-silver, copper-silver) to global smelters and refiners at commodity market prices. The company also advances a portfolio of development and exploration projects, most notably the Pitarrilla Project, one of the largest undeveloped silver projects in the world located in Durango, Mexico.
Is Endeavour Silver a public or private company?
Endeavour Silver is a public company. It is classified as public and is currently operating.
When was Endeavour Silver founded?
Endeavour Silver was founded in 2004. It employs 501 to 1,000 people.
Where is Endeavour Silver based?
Endeavour Silver is headquartered in Vancouver, Canada, in the North America region.
How does Endeavour Silver make money?
Three revenue lines are on record. Silver and Gold Metal Sales are the primary driver. The others are concentrate Sales and mine Divestitures.
Who are Endeavour Silver's main competitors?
Direct peers on record are First Majestic Silver, Hecla Mining, MAG Silver, Coeur Mining, Silvercorp Metals, Pan American Silver, Fortuna Mining and SSR Mining. Broad incumbents are Newmont Corporation and Fresnillo plc.
Does Endeavour Silver have an API?
No public API is recorded for Endeavour Silver.
What industry is Endeavour Silver in?
Endeavour Silver's product category is Silver Mining. Its primary akta.pro industry code is IMAKAEAB, Silver Mining, with a secondary code of IMAKAEAA, Gold Mining. Its NAICS code is 212220 and its SIC code is 1040.