Endeavour Silver Corp. (NYSE:EXK) Q2 2020 Earnings Conference Call - Final Transcript
Aug 04, 2020 • 01:00 pm ET
Thank you. We will now begin the question-and-answer session. [Operator Instructions] Our first question comes from Heiko Ihle of H.C. Wainwright. Please go ahead.
Hey, guys. This is Marcus Giannini calling in for Heiko. Thanks for taking questions and congrats on the quarter. You made some pretty strong moves in the silver prices recently.
Yes. Thank you.
So you meaningfully improved operations at Guanacevi as the mine seems to be running quite well and it's nice to see all the progress that's been made. We're currently in August so there's about five months left in 2020. Could you just provide some 2021 and possibly even longer-term plans and goals for the mine?
For Guanacevi in particular?
Yes, Guanacevi in particular.
Okay. Well, thanks for your question Marcus. On the financial side maybe I'll let Dan answer.
Well, we haven't come out with 2020 guidance just because of the COVID situation in Mexico where COVID cases are continuing to rise. But otherwise, if we can continue to operate we are an essential business in Mexico. We continue to operate close to 1,200 tonne per day capacity. So we'll be slightly below the 1,200 days 1,150 with similar grades to what we originally guided for the year. But ultimately we expect that same capacity and similar grades into 2021 if you're trying to predict that Marcus.
All right. Excellent. Yeah.
So if I could add to that. What Dan's saying is that everything based on site is going according to plan or better. But offsite concerns such as stopping COVID at the gates, keeping high-risk people at home so we actually have a depleted workforce because -- particularly the contractors can't maintain the level of employment that we require. We're still a little bit concerned that we'll be able to outperform on a continued basis. So this is just being careful. But everything that we control on-site is doing better than planned.
Okay. Yes, fair enough. And then, sort of, on that note if we ask you to guess do you have a dollar figure regarding the impact of COVID-19 through today? And if you have an estimate of sort of projected expenditures related to COVID that have not yet been incurred thus far?
Yes. As far as costs have not yet been incurred, I think, we've incurred everything from a COVID standpoint. We were shut down for remote -- all of April and a little bit of May, which ended up being about $800,000 but most of that was standby costs. The costs incurred to bring in lost stations increased security, get metal equipment were really incurred in April -- March and April.
And then ultimately it's the testing kits that, we have on-site, that is the continued cost. So it's actually quite little. You're talking about $125,000 on a quarterly basis, so small impact at each operation going forward. It's just the larger impact of COVID that is a bigger concern for us.
There's other thing that because of COVID we've