Endeavour Silver's (EDR.TO) (NYSE: EXK) U.S.-listed shares were down 1.3% on Wednesday in U.S. pre-market trading after the company said the Terronera project had delivery delays in December of critical components, which adversely impacted overall project productivity and expected commissioning timelines.
The U.S.-listed shares were last seen down US$0.05 at US$3.86.
Endeavour Silver reduced the site workforce over the holiday season as a cost saving measure due to the delays. The company expects lower platform construction and filter area installation to take place early in the second quarter. The critical steel deliveries and installation resumed this week after Mexico lifted its transport restrictions, the company said, adding that later this month it will provide a fourth-quarter construction that will include a photo gallery and updated site overhead costs to be incurred in the current quarter.
"Once it was clear that site productivity would be impacted, we felt it prudent to maintain a smaller workforce and temporarily reduce manpower costs. This gave our construction team an opportunity to re-charge for the final effort in bringing Terronera to a successful completion," said Endeavour Silver Chief Operating Officer Don Gray.
Shares of the company closed up 1% at $5.63 on Tuesday on the Toronto Stock Exchange.
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