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As long as you have cash on the sidelines to take advantage of any drop, you'll be fine. Gold has been over $1250 for most of this quarter and silver has been around $17. When earnings come out for this quarter, we'll know who the players are and who are the pretenders.
Im hoping they run north not south...but I think it may be years away from any significant move. The big $ around the world is very much aware of the massive worldwide economic debt issues. The US Fed Bank is gambling that they can raise rates slowly and sell the junk on their balance sheet slowly and still control the markets. My guess is it works until the younger generation forgets about 2007/2008. Financial media blogs have continually reminded investors of the bubble bust.
Couple thoughts:
Miners will run next week.
Yes, if the President bad mouths the strong dollar like he has in the past, that is very good for gold and silver.
Whether you like it or hate it, you have to give Walmart credit. They are standing toe to toe with Amazon and not flinching.
yes, I just have seen that. amzn is like a big black hole - sucking up everything
AMZN bought Whole foods today. Maybe they will buy EXK as they makes strides to become the world's largest conglomerate. Lol
And to think that they are doing so with fake money. Bezos is genius and the rest of us suckers.
that would be very nice for gold imo
that would be the common-sense thoughts... but we are dealing here with manipulation at their finest.. let´s see how that pans out
I think we'll see the President jump on the "dollar too high" train in a couple of weeks and say he wants to bring it down. He hates a high dollar.
The Fed Bankers saved us from financial meltdown by lowering interest rates and
printing $'s through buying Treasuries and MBS. The result has been to pumping up asset values. (stocks,bonds, real estate)
If Janet and Fed actually begin to unwind their balance sheet (stated yesterday) full of treasuries and MBS...and raise interest rates in conjunction, it seems likely that that stocks bonds and real estate will see valuation reductions.
I think they will push it down further. I will take advantage too, because long term I think it will be a great investment..
How can they keep raising interest rates with this economy?
I posted this on the AGI board. You can replace AGI symbol with just about any miner and replace "gold" with "silver" if you're looking at a silver miner. I think it applies to any good miner (that's not you Primero). I used this opinion to take advantage of the drop in EXK today and I was able to get a large amount of EXK today at what I think is a great price.
Here is my post:
Things to think about with AGI. Gold spiked up today on real news and dropped on old news. Everyone knew the rate hike was coming. Everyone didn't know consumer spending is dropping hard. As always, shorts dropped the price of gold on rate hike. This shouldn't last long and I still believe gold hits $1400 by August 1st based on a chart pattern.
As for AGI, shorts have had their way with AGI and all miners on the Van Eck re-balancing. I think traders are freaking out because they don't understand it and think the miners will crash on a Van Eck dump. Yes, Van Eck will be selling. Yes, shorts are taking advantage of the selling. Yes, longs should be taking advantage too. Look at AGI. It's gone from $10 to $7(actually, lower) when word spread of Van Eck's plan. Here is the key. What has changed with Alamos? 3 things: gold is a bit higher, all in cost are a bit lower and production is at an all time high. Fundamentally, AGI is better now than when it was at $10.Take advantage of this with AGI and any other miner you are looking to buy. Great opportunities out there because people are panicking rather than researching. Van Eck out grew the sector which isn't good for their ETF. Their re-balance will be great for all miners. Take advantage of it. As always, this is just my opinion
regarding the rebalancing GDXJ
Rick Rule | Potential Opportunity as GDXJ Tail Shops For New Dog
Endeavour Silver Acquires Additional Properties in Zacatecas, Mexico
http://www.marketwired.com/press-release/endeavour-silver-acquires-additional-properties-in-zacatecas-mexico-nyse-exk-2220278.htm
VANCOUVER, BC--(Marketwired - June 06, 2017) - Endeavour Silver Corp. (TSX: EDR) (NYSE: EXK) announces it has acquired 100% interests in two small but prospective mineral property groups, Calicanto and Veta Grande, located in the historic silver mining district of Zacatecas in Zacatecas state, Mexico. For map click here.
All of the properties host old mines and/or known silver-gold veins that were underexplored by modern methods and are being acquired for their near-term mine exploration and development potential, given their proximity to Endeavour's El Compas Mine and La Plata plant, also located in the Zacatecas district.
Bradford Cooke, Endeavour CEO and Director, stated: "We are very happy to add these new properties to our exploration portfolio in Zacatecas. The two transactions confirm there are good opportunities to consolidate a larger mineral land position in Zacatecas, one of the largest historic silver mining districts in Mexico. Drilling is now underway at the Calicanto properties and we expect to permit and drill the Veta Grande properties later this year."
Note that all technical data reported in this news release are historical in nature and Endeavour Silver has not independently verified them; therefore, these data should not be relied upon.
Calicanto Properties
The Calicanto properties were purchased from Arian Silver Corporation for US$400,000. They cover 75 hectares over five known, silver-gold-lead-zinc veins -- Calicanto, Vicochea, Nevada, Misie and Buenaventura -- within an area of 1.2 by 1.2 kilometres (km).
The veins were discovered around 1600, and supported small scale, high-grade production of silver off and on for about 350 years. The mines were historically developed down to approximately 150 metres (m) depth by seven old shallow shafts, and they were closed in the mid 1950s. The upper mine workings are still open but the lower mine workings are now flooded.
In the past 10 years, Arian drove two short ramps into the Calicanto and Buenaventura veins, drilled 16 core holes totaling 3,149 m with encouraging results. Highlights of the properties are as follows:
Calicanto Highlights
100% interest subject to a 3% NSR royalty
Well located and readily accessible adjacent to both the city of Zacatecas and the access road to Endeavour's recently leased La Plata 500 tonne per day (tpd) government plant
Excellent infrastructure including grid power, water, labour, and services, with a land access agreement already in place for exploration and exploitation
Five veins each with histories of small scale production, each traceable for over one km, averaging 1-3 m thick containing mineralized zones grading 100-300 grams per tonne (gpt) silver, 1-3 gpt gold, 1-3% lead-zinc
Historic resources previously estimated in the Calicanto vein from underground sampling by SGM, the government geological survey
Positive drill results by Arian included intercepts grading 8.54 gpt gold and 97 gpt silver over 4.50 m true width in the Calicanto vein, 7.17 gpt gold and 1,055 gpt silver over 4.70 m at Misie, and 0.9 gpt gold and 409 gpt silver over 1.60 m at Vicochea
Potential to add new, shallow, small scale but high-grade resources in four veins by additional drilling along strike and down dip and develop near term production close to our plant in a stable, attractive jurisdiction with great infrastructure and no known social or security issues
Positive synergies with Endeavour's El Compas mine development project in Zacatecas
Veta Grande Properties
The Veta Grande properties were purchased from IMPACT Silver Corp. for US$500,000 by issuing 154,321 Endeavour common shares at US$3.24 per share. They cover 152 hectares over six known, silver-gold-lead-zinc veins plus 14 hectares of surface lands covering the dormant Santa Gabriela 200 tpd processing plant and tailings facility.
The properties are located in the vicinity of one of the largest veins in the Zacatecas district, the Veta Grande vein, and cover the Nueva Granada splays to the Veta Grande vein and several other subparallel veins. The properties saw historic, small scale, high-grade production as shown by old mine workings and dumps. Access to the old workings is limited and many are now flooded, but historic sampling of dumps and trenches returned values up to 1,070 gpt silver with significant lead and zinc values.
The Santa Gabriela processing plant is located adjacent to Endeavour's La Plata plant five km north of the city of Zacatecas and it last operated between 2006 and 2009 as a 200 tpd flotation toll mill. The plant has been dormant since that time and none of the concessions have seen modern exploration.
Veta Grande Highlights
100% interest with no underlying royalty
Well located and readily accessible adjacent to both the City of Zacatecas and the access road to Endeavour's recently leased La Plata 500 tpd government plant
Excellent infrastructure including existing tailings storage facility, grid power, water, labour, and services
Several vein systems each with histories of small scale production, each traceable for over one km, averaging 1-3 m thick containing high grade mineralized zones
The Nueva Granada concession covers the main San Jose and Armado splay veins off Veta Grande. Historic samples from the San Jose vein returned values ranging to a high of 444 gpt Ag over 1.10 m (true width) in channel samples (average 239 gpt Ag over 0.74 m true width) and up to 1,070 gpt Ag in old mine dumps (average 407 gpt Ag). The Armado vein trends 100 m west and runs parallel to the San Jose vein. Historic channel samples collected from the surface exposures of the Armado vein assayed 237 gpt Ag over 1.92 m (true width) and 1,320 gpt Ag over 0.30 m (true width). Sulphide bearing samples from old mine dumps assayed up to 358 gpt Ag. In addition, several other splay veins branch off Armado providing additional exploration targets.
The Anaconda Group of concessions cover portions of historic veins that trend parallel to the main Veta Grande vein, many of which have seen historic, small scale production. Historic samples from surface dumps returned 310 gpt Ag, 24.2% Pb and 8% Zn from a high-grade stockpile.
The San Pascual concession is the site of the historic San Pascual Mine which last saw small scale production over 20 years ago. The shaft is flooded, however historic sampling of mine dumps adjacent to the shaft returned 875 gpt Ag. Samples from other dumps assayed 525 gpt Ag.
The Alianza vein lies on the Alianza concession where historic production was reported to grade 4 gpt Au, 400 gpt Ag, 3% Pb and 2% Zn.
The Cancer concession hosts the Providencia vein. A large adit exposes a 1.25 m wide vein with silicified breccias where historic samples from dumps and vein material returned up to 649 gpt Ag.
The contiguous Milagro and Leo concessions lies approximately 500 m north of the Cantera Vein system, one of the three principle veins in the Zacatecas silver district; the others being Mala Noche and Veta Grande. Samples from surface exposure of veins and old mine workings returned values averaging 158 gpt Ag.
Potential to add new, shallow, high-grade resources from numerous veins by drilling along strike and down dip and develop near term production close to the La Plata plant in a stable, attractive jurisdiction with great infrastructure and no known social or security issues
Positive synergies with Endeavour's El Compas mine development project in Zacatecas
Mr. Dale Mah, B.Sc., P.Geo., is the Qualified Person who reviewed and approved the technical disclosure in this news release.
About Endeavour - Endeavour Silver is a mid-tier precious metals mining company that owns three high grade, underground, silver-gold mines in Mexico. Since start-up in 2004, Endeavour has grown its mining operations organically to produce 9.7 million ounces of silver and equivalents in 2016. We find, build and operate quality silver mines in a sustainable way to create real value for all stakeholders. Endeavour Silver's shares trade on the TSX (EDR) and the NYSE (EXK).
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States private securities litigation reform act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding Endeavour's anticipated performance in 2017 including changes in exploration and mining plans and the timing and results of various activities. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others, changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; financial risks due to precious metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, and challenges to the Company's title to properties; as well as those factors described in the section "risk factors" contained in the Company's most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company's mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management's expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Image Available: http://www.marketwire.com/library/MwGo/2017/6/5/11G140436/Images/Concessions_Map_Zacatecas-b2842d1e326999eea270c2f1a6005f0c.jpg
Contact Information
Contact Information
For more information, please contact:
Meghan Brown
Director Investor Relations
Toll free: (877) 685-9775
Tel: (604) 640-4804
Fax: (604) 685-9744
Email: mbrown@edrsilver.com
Website: www.edrsilver.com
The public perception could change rapidly...but it might be awhile prior to happening. Notwithstanding a world war I think a seminal event could emanate from the debt markets that roils or unravals the derivatives markets and hence the paper PM markets. It almost seems guaranteed to happen but the big question remains....WHEN?
I agree, I think that it will take a shift in the perception of more people as seeing gold and silver as a monetary unit instead of just a commodity. Once we start seeing more and more currencies go through hyperinflation like Venezuela I think there will be a world wide move towards the PMs that the paper markets wont be able to hold back anymore.
Nice article and analysis. I think the biggest issue for the next year or 2 is that PM spot price is obviously controlled/manipulated through paper derivatives. Ultimately this will come crashing down, but until then, the spot price of silver will likely be held in a tight range. It could take years before they lose control. Imo
Reasons To Like Great Panther Silver
May 11, 2017 11:34 PM ET|4 comments| About: Great Panther Silver Limited (GPL), Includes: AG, GDXJ, SLV
Viking Analytics
Summary
GPL has underperformed GDXJ since its addition to the index.
The company has zero debt and significant cash reserves.
GPL is fundamentally less expensive than many of its silver mining peers.
Great Panther Silver (NYSEMKT:GPL) operates two silver mines in Mexico and is expected to close on a transaction for a silver mining operation in Peru here in the second quarter of 2017. One highlight from GPL's most recent corporate presentation is shown below. What we like most about GPL is that it has zero long-term debt, and maintains a substantial cash reserve for mine expansion and/or acquisitions. The most recent corporate presentation in its entirety can be reviewed here.
In the chart below, we show the share price of GPL (candlesticks) versus the value of the iShares Silver Trust (NYSEARCA:SLV). Some highlights from the chart below include:
GPL is currently trading at the bottom of its recent range and appears to be forming a rounded bottom near $1.20/share.
The top of the current trading range is near $2.25/share, and was reached in late April 2016 and in February 2017.
The purple star below denotes the day on which GPL issued new shares at $1.60/share (along with warrants priced at $2.25/share); this cash was raised in order for GPL to expand its operations. More details on this financing can be found on GPL's website.
The orange star below denotes the day in which GPL was added to the VanEck Vectors Junior Gold Miners (NYSEARCA:GDXJ). One can see the very large volume spike on that day, December 16th, 2016.
Three days after GPL's addition to the GDXJ, GPL announced that it was acquiring a mine in Peru.
Following these two news events, GPL rallied from near $1.30/share to over $2.25/share.
GPL share price has fallen since late February due to at least four items:
A disappointment in Q4 2016 earnings
The falling price of silver
The falling price and disruption in the junior mining indices created by GDXJ oversubscription
The closing delay of the planned acquisition of the Peru mining operation.
It is possible that most of this bad news has already been fully priced in.
Note on GDXJ
Any investor in precious metal miners will already be aware of the market disruption caused by GDXJ getting too large for its constituency. There are many articles to refresh one's knowledge on this topic. The second paragraph in this article might be a good place to start for further research. GDXJ appears to be the largest shareholder in GPL and once owned 26.7 million shares. GDXJ has since trimmed its position by 16% to 22.4 million shares in GPL. We are not sure whether GDXJ will continue to adjust its GPL position or not.
The chart below shows the relative performance of GPL vs. GDXJ and the SLV ETFs since the day that GPL joined the GDXJ index. Since that day (before the announcement of the Peru acquisition), GPL is down 14%, while GDXJ is up 6%, and the SLV ETF is down 1%. GPL appears to have underperformed both GDXJ and SLV.
Finally, we created a table to compare the cash mining contribution of a few silver miners below. We first calculated a miner's enterprise value, which is the value of equity plus long-term debt, minus cash and cash equivalents.
Then, we calculated the variable contribution from mining activities based upon each company's guidance for mining production and cash cost per ounce and assuming full-year values for gold and silver.
We then took the enterprise value of each firm and divided it by the forecast 2017 cash contribution. This, of course, is just a simple metric and is not based upon the all-in sustaining costs of a mining operation. Nevertheless, this metric can provide a comparison look at which miners might be undervalued or overvalued relative to their peers. GPL would seem to be a great acquisition target for some of the larger miners. First Majestic (NYSE:AG), for example, has publicly stated that its next production target is to have over 20 million ounces of production in Mexico. If First Majestic acquired GPL, it would achieve that target right away; in addition, at current relative share prices, such an acquisition would appear to be accretive.
Conclusion
GPL has underperformed GDXJ and many of its mining peers since late December 2016. It appears to be undervalued and poised for a rally. Having zero debt, substantial cash reserves, and no streaming contracts (which decrease margins), GPL would appear to be a great acquisition target for a larger miner.
Continued weakness in precious metals pricing could cause GPL to break down below its current range. On the other hand, a sustained rally in silver and gold prices could enable GPL to outperform its peers. Good news from the company regarding its Peru mining transaction may also be received favorably by the markets.
Any individual mining company, however, presents unique and non-diversified risks. Any investor should do their own research before making any investment such as GPL.
Disclosure: I am/we are long GPL.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
https://seekingalpha.com/article/4072478-reasons-like-great-panther-silver
Endeavor Silver Is Undervalued
May 15, 2017 4:20 AM ET|14 comments| About: Endeavour Silver Corp. (EXK)
Viking Analytics
Summary
Like all precious metal miners, Endeavor represents a leveraged play on the price of precious metals.
The company has zero debt, significant cash reserves and operates profitably at current prices of silver.
Endeavor is fundamentally less expensive than many of its silver mining peers, and has relatively large measured and equivalent ounces.
We believe that Endeavor is an attractive acquisition target for a larger mining company, especially at current relative valuations.
Endeavor Silver (NYSE:EXK) operates three silver mines in Mexico and has five additional projects in exploration and/or development. Endeavor is similar to another silver miner that we own, Great Panther (NYSEMKT:GPL), in that they both operate mines in Mexico, and both have zero long-term debt and sizable cash balances. We have included two key excerpts from Endeavor's corporate presentation below, which can be viewed in its entirety on this link.
We have shown a price chart of EXK below (in candlesticks), together with the price of the iShares Silver Trust (NYSEARCA:SLV). One can see the tight correlation between the value of EXK shares and the value of the SLV ETF. However, the price range for EXK is a low of $1 per share and a high of $6 per share (a 500% maximum gain). The range of SLV in the same time period has a low of $13.10 and a high of $19.71, a maximum gain of 50%. This demonstrates that an investment in EXK represents significant leverage to the price of silver. If one does not believe that silver and precious metal prices are rising, then one should not purchase precious metal miners.
EXK reported disappointing earnings in early March 2017 which together with the slide in silver prices began a dramatic decline in EXK share prices from a high of $4.84 in late February to a low of $2.84 in early March.
EXK share prices recovered from the lows in March as the value of silver increased, and fell back to current levels when the price of silver again declined.
EXK recorded a significant beat in expected earnings for Q1 2017, and this appears to have helped the company find a temporary bottom in share price.
A break below $2.84/share could open up further downside for EXK investors.
We have created a table to compare the cash mining contribution of several silver miners below. We first calculated a miner's enterprise value, which is the value of equity plus long-term debt, minus cash and cash equivalents.
Then, we calculated the variable contribution from mining activities based upon each company's guidance for mining production and cash cost per ounce and assuming full-year values for gold and silver.
We then took the enterprise value of each firm and divided it by the forecast 2017 cash contribution. A lower value indicates that the company is providing more cash contribution relative to its enterprise value. Both EXK and GPL - on this metric - appear to be undervalued relative to their larger peers. This may mean that both EXK and GPL are attractive and possibly accretive acquisition targets for a larger miner.
As an example, let's consider the relative value of Pan American Silver (NASDAQ:PAAS) to EXK. Since the EV/contribution value for PAAS is 9.07 and the value for EXK is 3.65, then PAAS might be considered to be 248% overvalued to EXK (9.07/3.65 = 248%). Put differently, PAAS could pay a 100% premium for EXK shares and the acquisition could still be accretive.
This metric above does not, of course, take all factors into consideration, such as the ongoing cost of maintaining and increasing mine production. Another item to note from the table above is that Endeavor has considerably more measured and indicated equivalent silver ounces than GPL.
With respect to potential acquisitions, First Majestic (NYSE: AG) has publicly stated that one of its primary goals is to own and control over 20 million ounces of production in Mexico. If First Majestic acquired either EXK or GPL, it would achieve that target immediately.
Conclusion
Endeavor Silver has zero debt, substantial cash reserves, and is profitable at current prices of silver. Endeavor also has relatively substantial measured and indicated silver ounces, and would, therefore, appear to be a great acquisition target for a larger miner.
Continued downside in precious metals pricing could cause EXK to break down below its current support level. On the other hand, a continuing rally in silver and gold prices could enable EXK to outperform its peers.
Any individual mining company, however, presents unique and non-diversified risks. Any investor should do their own research and consider the highly leveraged risks involved before making any investments.
Disclosure: I am/we are long EXK, GPL.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
https://seekingalpha.com/article/4073155-endeavor-silver-undervalued
Exk looking like a sweet play at these levels!!!
Endeavour Silver Expands High-Grade Silver-Gold Mineralized Zones in Terronera and La Luz Veins on the Terronera Property in Jalisco, Mexico
Vancouver, Canada - March 16, 2017 - Endeavour Silver Corp. (NYSE: EXK, TSX: EDR) announces that exploration drilling on the Terronera property in Jalisco State, Mexico continues to expand the recently discovered high-grade, silver-gold mineralized zones to greater depths within the Terronera vein and at shallow depths within the La Luz vein.
Recent drilling in the Terronera vein has expanded the main high-grade, mineralized zone down to 400 metre (m) depths, still open to depth and to the southeast (view long section here). In addition to the main zone, drilling intercepted mineralized footwall (Fw) and hangingwall (Hw) splays. In some places the splays merge to form one very thick mineralized zone (eg. Hole TR11-3). None of the drill results reported herein are included in the upcoming resource estimate and pre-feasibility study (PFS) for Terronera, and they indicate clear potential to expand resources within the Terronera vein.
Drill results from five holes* previously reported in October and December 2016, plus four new drill holes reported herein, are summarized in the table below. Highlights include 230 grams per tonne (gpt) silver and 1.8 gpt gold (359 gpt AgEq) over 16.3 m true width, or 10.5 opT AgEq over 53.5 ft, with an internal interval assaying 3,490 gpt silver and 8.9 gpt gold (4,110 gpt AgEq) over 0.3 m true width, or 119.8 opT AgEq over 1.0 ft, in hole TR11-3.
Recent drilling in the La Luz vein, located about 2.2 kilometres northeast of the Terronera vein, has expanded the new high-grade, mineralized zone over 500 m long by 250 m deep starting approximately 100 m below surface and still open to surface and to depth (view long section here). None of the drill results reported herein are included in the upcoming resource estimate and pre-feasibility study (PFS) for Terronera, and they indicate clear potential to expand resources within the La Luz vein.
Drill results from seven holes* previously reported in December 2016, plus seven new drill holes reported herein, are summarized in the table below. Highlights include 63 gpt silver and 57.0 gpt gold (4,054 gpt AgEq) over 2.2 m true width, or 118.0 opT AgEq over 7.2 ft, with an internal interval assaying 340 gpt silver and 320.0 gpt gold (22,740 gpt AgEq) over 0.3 m true width, or 663.0 opT AgEq over 1.0 ft, in hole LL-21.
Bradford Cooke, CEO of Endeavour Silver, commented, “Although narrower than the Terronera vein, mineralization in the La Luz vein is much higher grade, more gold rich, and shallower in depth compared to Terronera. Both sets of drill results indicate the excellent exploration potential of the property. Several other veins hosting high-grade mineralization on surface north of the Terronera vein are scheduled for drilling this year. Two drill rigs are currently working on the Terronera property.”
Godfrey Walton, M.Sc., P.Geo., Endeavour’s President and COO, is the Qualified Person who reviewed and approved this news release and supervised the drilling programs in Mexico. A Quality Control sampling program of reference standards, blanks and duplicates has been instituted to monitor the integrity of all assay results. All samples are split at the local field office and shipped to ALS-Chemex Labs, where they are dried, crushed, split and 50 gram pulp samples are prepared for analysis. Gold and silver are determined by fire assay with an atomic absorption (AA) finish.
About Endeavour Silver - Endeavour Silver is a mid-tier precious metals mining company that owns three high grade, underground, silver-gold mines in Mexico. Since start-up in 2004, the company has grown its mining operations to produce 9.7 million ounces of silver and equivalents in 2016. We find, build and operate quality silver mines in a sustainable way to create real value for all stakeholders. Endeavour Silver’s shares trade on the TSX (symbol EDR) and on the NYSE (symbol EXK).
Pretty rough week for this one, but it looks even more attractive at this valuation to me. Added some more today.
25% beatdown in the stock today and ths CEO doesn't even show up for tbe CC. I don't take that as a good sign.
No doubt that the gang playing games on COMEX has turned this into nothing but a casino for the PM stocks. I do wonder if the obvious deviations from spot prices is a hint that their games are about to come crashing down. The markets are certainly not for retail investors...but Bankers, brokers and governments have tried to convince retail investors that investing is the same as savings.i.e. 401 k plans. This narrative and manipulation has allowed them to play the Ponzi game for years. When it end...is the big question. As more and more people see the light I believe the house of cards gets closer to falling down.
Nice pop with silver yesterday and someone accumulating a lot of EXK.
January 25, 2017 Endeavour Silver Provides Production and Cost Guidance for 2017
here
Look up John Titor time traveler, in another world time line he talks about a USA civil war and then a nuclear attack 7 years later. He talks about stuff you couldn't know without time travel.
Interesting if not unbelievable.
***EXK Endeavour Silver Updates Reserves and Resources for Operating Mines
Vancouver, Canada - January 19, 2017 - Endeavour Silver Corp. (TSX: EDR, NYSE: EXK) reports updated NI 43-101 silver and gold reserve and resource estimates for its three producing mines in Mexico: the Guanaceví mine in Durango State and the Bolañitos and El Cubo mines in Guanajuato State, as of December 31, 2016, and restates the 2015 silver and gold resource estimates for its exploration projects. Updated mineral reserve and resource estimates for Endeavour’s Terronera and El Compas properties will be published in conjunction with their respective economic studies in March, 2017.
Proven and probable silver reserves decreased 12% in 2016 compared to 2015, reflecting mining depletion and reduction in mine development capital investments at the three mines last year due to low metal prices early in the year. Measured and indicated silver resources decreased 2% and inferred silver resources declined 18% due to reduced exploration spending at the operations and dropping the Arroyo Seco project. Exploration programs and budgets were focused on the advancement of the Terronera project, where mineral resources are expected to increase compared to 2015. An initial mineral resource estimate is also being prepared for El Compas in an upcoming preliminary economic assessment.
Bradford Cooke, CEO of Endeavour, stated, “The dip in reserves and resources at our three operating mines was a result of our reduced capital and exploration spending last year. Now that metal prices are recovering, we have resumed our investments to find and develop new reserves and resources. Our exploration efforts at the development projects last year were successful in identifying new mineralization, so we anticipate Terronera and El Compas should add to our total resources to be released in March.”
2016 Mineral Reserve and Resource Highlights (Compared to December 31, 2015)
•Silver proven and probable reserves decreased 12% to 10.6 million ounces (oz)
•Gold proven and probable reserves decreased 18% to 91,100 oz
•Silver equivalent proven and probable reserves decreased 12% to 17.4 million oz (75:1 silver:gold ratio)
•Silver measured and indicated resources decreased 2% to 64.2 million oz
•Gold measured and indicated resources increased 1% to 533,700 oz
•Silver equivalent measured and indicated resources increased 2% to 105.1 million oz
•Silver inferred resources decreased 18% to 37.2 million oz
•Gold inferred resources are unchanged at 336,000 oz
•Silver equivalent inferred resources decreased 8% to 64.7 million oz
Godfrey Walton, M.Sc., P.Geo., President and COO of Endeavour, is the Qualified Person who reviewed and approved the technical information contained in these mineral resource estimates. The Independent Qualified Persons for the mineral resource and mineral reserve estimates at Guanaceví, Bolañitos, and El Cubo were Zachary Black, SME-RM, and Jeffery Choquette, P.E., MMSA, of Hard Rock Consulting. Technical reports for Guanaceví, Bolañitos, and El Cubo will be completed and filed on SEDAR in March, 2017.
The mineral resource estimate for Terronera was undertaken by Independent Qualified Persons Eugene Puritch, P.Eng., and Richard Routledge, P.Geo., of P&E Mining Consultants Inc. Mr. Puritch has reviewed and approved the technical content of this press release with respect to Terronera.
The mineral reserve and mineral resource estimates within this press release were classified following the definitions and guidelines of the Canadian Institute of Mining, Metallurgy and Petroleum CIM standards and definitions of mineral resource estimates and mineral reserve estimates as referenced in National Instrument 43-101.
More here
So many investors expecting a 2017 stock market correction/crash that we probably go up in Dow and S&P and maybe gold and silver prices don't deviate much from current prices. It might be a boring year in PM's. That is your surprise.
Maybe a low production guidance will be best for EXK. Just a hunch.
This from last weeks report.
"Endeavour expects to release updated reserve and resource estimates and 2017 production and cost guidance within the next two weeks."
It should be interesting to see what guidance is for 2017. It should be out within a week. I'm hoping it could give a boast to stock price. JMHO
The next world war will be the last world war IMO. Shudder the thought.
This exposure and illumination of manipulation and fixing of PM spot prices is a good thing but I doubt it has much affect or impact on the bankster manipulators. They must carry on as too much is at stake in maintaining fiat currencies as the means to carry on worldwide commerce. Ultimately they will implode currencies but the politicians will probably start a world war prior to the implosion. Explosion then implosion. IMO
I read recently where First Majestic CEO commented that they would likely join a class action against the buillon banks. The manipulation has been exposed with admissions by Deutsche bank.
Apparently its been proven that spot prices are determined through manipulation...naked shorting and other tactics that are far removed from supply and demand. I wonder if EXK is gonna sign on to the class action.
I wonder if this exposure of corruption in the market is going to spurn more investment in the sector...with hopes to tamper the manipulation.... or if investors flee because the corruption is rampant and trust in the market is gone.
Gonna be interesting to see how EXK responds or doesn't.
She will be gone within the next year. MO
Looks like a repeat rinse repeat from the Fed. Up .25 every December until dollar crashes. I see nothing significantly different on the landscape this year from last. Should we expect the equity markets to crash again in January? HMMMMM....
I don't think anyone really thinks they will raise rates 3 times again in 2017. If they do...it will be because of runaway inflation and a desperate attempt to stop it. IMO
Good news from Endeavor with new finds announced today. Should be good long term and could even set up EXK as an acquisition target. IMO
Amazing how Fed debt monetization was good for stocks and now Fed raising of rates is good for stocks. This seems like manipulation to crush shorts. Again...IMO
Consider these low prices in silver a gift.
Yes Silver spot will reverse at some point. I'm just wondering if they can take it back to last years lows. EXK traded as low as $1 last year. I do think EXK can withstand major hit to silver price, but the stock is not immune.
I'm thinking that sooo many people recognize the financial cataclysm approaching that the contrarian play in long equities, and long real estate is still paying off... but it does look like bonds are starting to crumble and you gotta think that the other bubbles deflating or bursting will follow. JMHO
Sit tight. Sentiment bound to change when the spotlight moves elsewhere.
I wonder if they will push silver spot down to low teens. If so will we see EXK down below $2 again?
Apparently massive worldwide debt and bank problems in Italy will not affect equity values except to raise them. Amazing!
We have banks around the world...starting with Italy that have major challenges. Starting with Monte Paschi...where and how will they be recapitalized???? QE and more QE?
Are we to assume that the price of Gold and Silver has accounted for these problems that could cause worldwide financial catastrophe? I realize that the PPT is affecting the paper prices of PM's but am still amazed they are able to keep a lid on with such massive risk in the world financial system. JMO
No on his latest, but I've read his previous 2 books. Jim is smart guy. Not sure if I agree on the SDR replacing $. I think if we have a dollar crash that it will be extremely chaotic and implementation of SDR's as a reserve currency will be a major challenge. I do agree with him that a bail in could be around the corner, as TPTB attempt to workout debt arrangements. In any case I think it wise to have cash and PM's in a safe place. A safe place is not financial institutions.
Have you read Jim Rickard's latest book, The Road to Ruin? He hits the nail on the head IMO and is a must read to any investor.
Awareness of the massive credit bubble in the US and worldwide is extremely high. Maybe that is contributory to the delay of it's bursting. It will happen, but all powers are doing their damnest to
delay the inevitable. Trump had an opportunity to bring John Allison on board as Treasury Secretary (supporter of returning to gold standard) but instead opted for a Banker that will likely support the Fed in driving more QE. The impact on PM's and miners is that prices and values are stagnating. Again the big question is...how long can they delay the inevitable asset bubbles pop????
OMG, I could buy EXK option call strike price $5.00 for $1.28, bargain!!! Jan. 2019
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