Endeavour Mining (EDV.TO, EDVMF) Message Board

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Gold/Mining/Energy : Endeavour Mining (EDV.TO, EDVMF)

EDV.TO 75.06

-2.4%

1:53 PM EST

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From: Amark$p	8/17/2007 1:46:34 PM
	Read Replies (2) of 544

Endeavour advises it is over 20% in cash and debt-free via COMTEX August 17, 2007 GEORGE TOWN, Grand Cayman, Aug. 17, 2007 (Canada NewsWire via COMTEX News Network) -- Toronto Stock Exchange: EDV Endeavour Mining Capital Corp. ("Endeavour" or "Corporation") advised today that it does not have any debt or borrowings and has not made use of broker margin or other forms of leverage in making its investments. The Corporation's cash balances are generally held as cash on deposit with a broad range of financial institutions or as investments in highly liquid sovereign treasury notes. The Corporation has not invested in the asset-backed commercial paper market. Commenting, Frank Holmes, Chairman stated "In response to equity market volatility arising from uncertainty in the credit markets and several investor queries, we felt it appropriate to explain to the market that Endeavour does not have any debt on its balance sheet and our cash balances are liquid and secure. In fact, Endeavour is currently over 20% in cash and times of challenging equity market conditions can create great opportunities for those with liquidity. Difficult capital market conditions can also increase the need for the financial advisory services offered by our recently acquired Endeavour Financial unit. Endeavour has approval from the TSX in accordance with a normal course issuer bid to acquire its shares in the market. Endeavour maintains a discipline of buying back stock in the market when there has been a dramatic decrease in the EDV share price. The recent volatile markets provided an opportunity for EDV to buy back its shares at less than 3 times trailing 12 month earnings. During the current week Endeavour bought back a total of 25,000 shares.

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