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Strategies & Market Trends : Ride the Tiger with CD

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From: koan	8/30/2007 11:39:07 PM
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Dollar down .10 and gld up $1.10 and silver up .08. CKG: Endeavour Silver joins list of ABCP-exposed companies Endeavour Silver Corp (C:EDR) Shares Issued 47,178,776 Last Close 8/30/2007 $3.50 Thursday August 30 2007 - News Release Mr. Bradford Cooke reports ENDEAVOUR REPORTS UPDATE ON CASH POSITION AND SHORT TERM INVESTMENTS Endeavour Silver Corp. has provided an update on its cash position and short-term investments. The company currently has $30-million (U.S.) in working capital, including $25-million (U.S.) in cash, cash equivalents and marketable securities. A total of $4.8-million (U.S.) of the $25-million (U.S.) is held in three Canadian structured investment trust notes, also known as asset-backed commercial paper (ABCP). These notes are rated R-1 (high) AAA by Dominion Bond Rating Service and mature in September but the current liquidity crisis for all ABCP has impacted the liquidity of these notes. The company's broker-dealer advises that the current crisis is one of liquidity, not quality, that most of the debt collateral to the notes constitutes high-quality bonds and only about 4 per cent of the debt collateral is in the subprime mortgage market. Endeavour holds ample cash and equivalents (treasury bills, GICs and senior securities) so the ABCP liquidity crisis has no impact on the company or its operations at this time or for the foreseeable future. Endeavour can therefore just wait for the ABCP crisis to be resolved and liquidity and value to return to the ABCP market. © 2007 Canjex Publishing Ltd.

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