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Gold/Mining/Energy : Endeavour Mining (EDV.TO, EDVMF)
EDV.TO 72.51-6.6%Jan 9 9:30 AM EST

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To: Madharry who wrote (509)11/15/2010 8:33:14 PM
From: Madharry   of 544
 
gfre 3 Q conference call:

ceo cfo vp of finance. on call:

73.2 % bromine and crude salt
87% of capacity, demand continues to be robust, prices stabilized in Q3. price remains abot 3k per ton. gpm inreased. new pesticide additives more profitable .chemical products sales up 35%- waste water additives.
positive preliminary report from deloitte.

62% increase in revenues. gpm 38% vs. 34%.
15 million profit. 39% increase? $73MM cash at end of quarter.
postponing equity issuance. no reason to sell more shares at theses prices.

( no disclosure on share repuchases)

q4 utilization will be lower because of winter and down time.
q4 so far running at 80%.

acquisition difficulties- rise in bromine prices makes it hard.

looking to improve waste water treatment production.

10% of bromine production is used internally.

( I think $1.60 FORWARD eps and $2 in cash justifies $18 price easy. )
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