Silver and gold production by Endeavour Silver Corp. rose in the third quarter, while revenue jumped 93 percent on higher prices for the two precious metals.
Silver production was up eight percent to 858,738 ounces and gold production rose seven percent to 4,926 ounces compared to the year-earlier figures, the Vancouver-based company said Tuesday.
Revenue soared to $38.8 million on the increased output as well as higher prices.
Godfrey Walton, the company's president, said production was within the company's guidance for 2011.
We planned for a relatively flat quarter of production so that our operations teams could focus on our capital projects for the year, particularly the accelerated mine development programs at both mines and the plant expansion program at Guanajuato, he said.
As a result of these capital investments, Endeavour anticipates production should set a new record in the fourth quarter 2011.
Shares of Endeavour, which runs two mines, shares rose 2.43 percent to $9.68, a penny shy of its 52-week high.