Stock Guru Profile – Endeavour Silver Corp. Home Page
Reserves and Resources — that’s where the rubber meets the road in the mining industry. Reserves and resources are a mining company’s stock in trade.
When Endeavour Silver began its mining operation at its Guanacevi Mines Project in Durango, Mexico, the reserves were zero, nil, nada and that was just two years ago!
When Stock Guru first began covering Endeavour they were an OTC company. Today they are on the Amex.
Publicly traded companies publish their reserves as defined worldwide by the international Standards of Disclosure for Mineral Projects (also known as NI 43-101).
Mineral reserves are estimated by the manual method. This simply means that Endeavour drills holes and retrieves underground sample data which is then analyzed for silver content. From this information silver reserves are estimated by an independent Qualified Person under the definition by National Instrument 43-101 and a report is published.
This published information is often the basis of evaluation of a mining company and it is performed annually. Last year Endeavor released these results on March 28, 2006. (Link here for release.)
What we know is this existing mine had reserves at zero in 2004 and has been brought back to life by Endeavour. The mining facilities and processing plant were in place and the highly qualified management team at Endeavour believed there was life left in that old mine. (Link here to review their qualifications.)
In this mine that registered zero reserves and resources in 2004 we have seen the following:
- 0 oz silver beginning 2004
- 3,481,200 oz silver 2005 (after sample data taken)
- 14,140,000 oz silver in 2006 (after sample data taken)
What we are all waiting for is the 2007 information at this point. If it’s good there is truly no stopping Endeavour, a Durango Silver Mining Company, that went from zero to 14.14 Million Ounces on the very astute evaluation of a very qualified management team.
This is just one more step in Endeavour’s relentless progress toward its goal of being one of the top five primary silver producers in the world.
By locating on the AMEX Endeavour will increase the likelihood of being covered by several analysts.
Analyst coverage will promote a closer look by more buyers.
Now is a very good time to take a closer look at this silver mine that flamed the interest of some very knowledgeable investors.
Source: ENDEAVOUR SILVER CORP.
Contacts:
Endeavour Silver Corp.
Email: Hugh Clarke hugh@edrsilver.com
(604) 685-9775 or Toll Free: 1-877-685-9775
(604) 685-9744 (FAX)
Email: investorrelations@edrsilver.com
Website: http://www.stockguru.com/blog/www.edrsilver.com
About Endeavour Silver, Corp.: Endeavour Silver Corp. EXK – Amex is a small-cap silver mining company focused on the growth of its silver production, resources and reserves in Mexico. The expansion plan now underway at the high grade, Guanacevi mines project in Durango should propel Endeavour into the ranks of the top 5 primary silver producers in the world. Endeavour stands out from other primary silver companies for its high silver grades (+15 oz. per ton), its high silver leverage (+90%), the substantial exploration upside of the Guanacevi mines project (+30 million oz), the potential capacity of the Guanacevi plant and the organic growth potential of these core assets.
CAUTIONARY DISCLAIMER – FORWARD-LOOKING STATEMENTS: Certain statements contained herein regarding the Company and its operations constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are “forward-looking statements”. We caution you that such “forward-looking statements” involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include fluctuations in precious metal prices, unpredictable results of exploration activities, uncertainties inherent in the estimation of mineral reserves and resources, fluctuations in the costs of goods and services, problems associated with exploration and mining operations, changes in legal, social or political conditions in the jurisdictions where the Company operates, lack of appropriate funding and other risk factors, as discussed in the Company’s filings with Canadian and American Securities regulatory agencies. Resource and production goals and forecasts may be based on data insufficient to support them. Godfrey Walton, P.Geo. and/or Bradford Cooke, P.Geo. are the Qualified Persons for the Company as required by NI 43-101. The Company expressly disclaims any obligation to update any forward-looking statements.
Disclosure: Pentony Enterprises LLC was compensated $10,000.00 for profile coverage. Pentony Enterprises LLC is not a registered investment advisers or broker/dealers. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person or that an investment such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
Safe Harbor Statement: All statements contained herein, as well as oral statements that may be made by the Company or by officers, directors or employees of the Company acting on the Company’s behalf, that are not statements of historical fact, constitute “forward-looking statements” and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties are outlined in the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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