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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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From: koan2/12/2007 7:22:50 PM
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Endeavour Silver Corp. is a small-cap silver mining company focused on the growth of its silver production and resources in Mexico, the largest silver producing country in the world. The expansion plan now underway at the high grade Santa Cruz mine in Durango has the goal of establishing Endeavour as on of the top 5 primary silver producers in the world. In 2004, the company entered in to an agreement to purchase a 100% interest in the Santa Cruz mine and the 1400 tonne/day Guanacevi process plant. There are a number of things that set Endeavour apart, including: PRODUCTION - In 2004 the Santa Cruz mine produced approx 400,000 oz. silver. In 2005 (10 month period) the mine is projected to produce close to 1,000,000 oz. silver and projections are targeting production at 2,400,000 oz. in 2006 and 3,600,000 oz. in 2007. GRADE - Typical grades for Mexican silver mines are in the 250 - 300 grams/tonne range. The Santa Cruz mine has consistently yielded ore with grades of 500+ grams/tonne. PURITY - The ore from the mine has a very high silver content of 90+% plus by-products of gold, lead and zinc. FINANCES - There are only 32.2 million shares issued and 40.0 million fully diluted. The company generates positive cash flow, has C$19.0 million in working capital, is debt free and unhedged. MANAGEMENT - Very strong management team with over 150 years experience in the mining sector.
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