On October 10, 2023, Endeavour Silver Corp. and its subsidiary Terronera Precious Metals, S.A. de C.V. secured a senior secured debt facility of up to $120 million with ING Capital LLC and Societe Generale. This funding, intended for constructing an underground mine and mill at the Terronera Project in Jalisco, Mexico, marks a strategic step for Endeavour in promoting shareholder value, economic growth, and local development. Announced on April 18, 2023, the facility terms include an 8.5-year term with a 2-year grace period, an interest rate tied to the US Secured Overnight Financing Rate plus 4.50% (3.75% post-completion), and quarterly principal payments starting in late 2025. It also mandates gold and foreign exchange hedging programs and requires cost overrun funding up to $48 million. The facility is secured by corporate guarantees from Endeavour and its subsidiaries, and Terronera plans to drawdown in 2024, aligning with a 21-month construction schedule for production commencement in late 2024.