11:42 AM EDT, 08/05/2025 (MT Newswires) -- (Adds National Bank commentary and updates shares.)

Endeavour Silver ( EXK ) on Tuesday reported steady progress at the Terronera mine in Mexico, with 57,080 tonnes milled in July, an average of 1,841 tonnes per day.

Since completion of the commissioning phase, throughput has risen with current milling rates of between 1,900 and 2,000 tonnes per day due to ongoing adjustments to improve recoveries.

Since July 16, silver and gold recoveries have averaged 71% and 67%, respectively, while processing lower grade material.

Higher-grade material is scheduled for processing as optimization efforts continue. This is expected to enhance recoveries, allowing for an increase in the milling rate to sustain the designed throughput of 2,000 tpd.

National Bank of Canada kept its outperform rating and $10.00 price target on the company's shares following the news.

The bank said it continues to view Endeavour Silver ( EXK ) as its top pick within its silver coverage universe due to its continued discounted valuation and expected transition to a state of positive free cash flow through the ramp-up of Terronera and the integration of Kolpa.

Endeavour Silver ( EXK ) shares were last seen up $0.40 to $7.26 on the Toronto Stock Exchange.

Price: 7.26, Change: +0.40, Percent Change: +5.83