The government of Mexico has decreed an extension of the suspension of all non-essential activities until May 30, though it will cease to be applicable as of May 18 in municipalities with few or no known cases or transmission of the COVID-19 virus.
Mining is currently deemed by the Mexican health authority to be a non-essential activity, leading companies to suspend mining and exploration activities. With many mines located in areas with a low incidence of COVID-19, companies are looking at resuming production in late May.
Endeavour Silver said its three mines were located in municipalities with low or no virus transmission and it anticipated reopening its mines.
“We look forward to bringing our mines back to production in a safe and orderly manner. Naturally, we will continue to apply all aspects of our coronavirus plan to maintain the health of our people and the local communities,” said CEO Bradford Cooke in a statement.
Minera Alamos said it was preparing to recommence construction activities at its Santana gold development in Sonora and to resume drilling to follow up on previous drilling at its Nicho project.
Shares in Endeavour Silver are trading at C2.34, valuing the company at 331 million.
Shares in Minera Alamos are trading at C39c, valuing the company at $157 million.