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I like stocks that have a "solid" product that you can hold in your hand. Not big on products that exist solely in the minds of men. Even telecomm stocks, they exist only in the airwaves. Not saying I don't own any insubstantial stocks, but I do prefer having the solid base.
Welfare, Housing, Medical, School loan bubbles coming in the near future! Folks in metals will make big on their investments! Mark my words!!!
SILVER!
BK
This has "potential" to be good news in the long term. Meanwhile the crypto craze continues to capture "potential"
buyers of what used to be precious metals. ??
EXK Discovers Potential Bulk Tonnage Silver Mineralization in the Palmilla Mine Area, Parral Project, Chihuahua, Mexico (Globe Newswire)
Nov.12, 2007...spot silver price was $14.70. 10 years later it's $17.00.
We've had massive worldwide inflation during those 10 years and silver spot price is up minimally.
I would be surprised to see silver spot
drop below $10.00.
With massive inflation these past 10 years, it's surprising to me that it's not over $100/oz.
Silver going under 10 dollars again?
EXK
BK
Dabbling here. Over sold and think it can climb it's way back up to $2.75.
You may see that crypto buying opportunity tonight. Bitcash looking to take out bitcoin.
http://www.zerohedge.com/news/2017-11-10/someone-just-puked-over-4-billion-notional-gold-futures
Gold futures also hit with 3billion on Thursday.
It looks like PM's will be manipulated right up to when the last snowflake starts the avalanche.
The risk of owning this stock might move from silver price risk to political risk and financial meltdown risk. I hope there is a window to retrieve value during the meltdown.
SP was skirting below one year low lets see what 2018 Q1 shapes up to be.
Watch the cryptos. A buying opportunity might be coming soon.
11/3: Price target $3.75 (CIBC World Markets)
Management seems to be emphasizing long term results when referencing issues specific to EXK. Easy for them as they continue to draw a salary. If they really are focused on long term results, they should find a way to pay investors in the short term...even if it's a small dividend. Seems like a viable way to attract serious long term investors. Imo
Throw in a bear miner market and even companies with great results are getting slammed. Just have to show some patience.
After yesterday's slam to add onto previous downward stock movement it seems like a reversal should be likely if Brad's comments come to fruition.
Endeavour CEO Bradford Cooke commented, “Our Third Quarter earnings, cash flow and revenues were down from Q3, 2016 but improved significantly compared to the Q2, 2017. Given that Guanacevi had to deal with new electrical and pump issues due to a lightning strike in July, now partly resolved, we anticipate continued improvement of our operating and financial performance in the Fourth Quarter 2017.
Vancouver, Canada – November 2, 2017 - Endeavour Silver Corp. (NYSE: EXK; TSX: EDR) released today its financial results for the third quarter ended September 30, 2017. Endeavour owns and operates three underground silver-gold mines in Mexico: the Guanaceví mine in Durango state, and the Bolañitos and El Cubo mines in Guanajuato state.
The Company's financial performance in the Third Quarter, 2017 was down compared to the Third Quarter, 2016 due to lower production, higher operating costs and increased exploration and development expenditures. Production was slightly lower in Q3, 2017 compared to Q3, 2016 primarily due to operating issues at the Guanacevi mine, now partly resolved, and revised annual mine plans which led to lower throughput for the nine months ended September 30, 2017.
However, production was higher in Q3, 2017 compared to Q2, 2017 primarily due to improved performance at all three mines. As a result, the Company's financial performance in the Third Quarter, 2017 was up compared to the Second Quarter, 2017, with higher revenues, cash flow and earnings and lower cash and all-in sustaining costs.
Highlights of Third Quarter 2017 (Compared to Third Quarter 2016)
Financial
•Net earnings of $1.0 million(1) ($0.01 per share) compared to net earnings of $5.6 million ($0.04 per share)
•EBITDA(2) decreased 39% to $6.1 million
•Cash flow from operations before working capital changes decreased 31% to $5.7 million
•Mine operating cash flow before taxes(1) decreased 33% to $11.9 million
•Revenue decreased 5% to $39.8 million
•Realized silver price decreased 10% to $17.20 per ounce (oz) sold
•Realized gold price decreased 3% to $1,299 per oz sold
•Cash costs(2) increased 54% to $8.11 per oz silver payable (net of gold credits)
•All-in sustaining costs (AISC)(2) increased 53% to $17.53 per oz silver payable (net of gold credits)
•Working capital decreased 6% to $70.3 million from Q2, 2017
Operations
•Silver production decreased 2% to 1,262,064 oz
•Gold production decreased 5% to 13,648 oz
•Silver equivalent production was 2.2 million oz (at a 70:1 silver: gold ratio)
•Silver oz sold increased 6% to 1,275,922 oz
•Gold oz sold down 3% to 13,759 oz
•Bullion inventory at quarter-end included 196,092 oz silver and 466 oz gold
•Concentrate inventory at quarter-end included 37,043 oz silver and 633 oz gold
Exploration and Development
•Made production decision and commenced development of El Compas mine in Zacatecas
•Acquired additional prospective exploration properties near El Compas in Zacatecas
•Released high grade drill results for Santa Cruz orebody in Guanacevi
•Commenced development of mine ramp to access Milache orebody at Guanacevi by mid-2018
•Released high grade drill results for Terronera and La Luz mineralized zones at Terronera
•Received mine and plant permits for Terronera
•Appointed Vice President, Engineering to oversee technical services and development projects
1.The Consolidated Interim Financial Statements and Management’s Discussion & Analysis can be viewed on the Company’s website at www.edrsilver.com, on SEDAR at www.sedar.com and EDGAR at www.sec.gov. All amounts are reported in US$
2.Mine operating cash flow, EBITDA, cash costs and all-in sustaining costs are non-IFRS measures. Please refer to the definitions in the Company’s Management Discussion & Analysis
Endeavour CEO Bradford Cooke commented, “Our Third Quarter earnings, cash flow and revenues were down from Q3, 2016 but improved significantly compared to the Q2, 2017. Given that Guanacevi had to deal with new electrical and pump issues due to a lightning strike in July, now partly resolved, we anticipate continued improvement of our operating and financial performance in the Fourth Quarter 2017.
“Returning Guanaceví to long-term profitability relies in part on developing two new orebodies, Milache and Santa Cruz Sur. Underground ramp access is already underway towards Milache with initial production expected in the second half of 2018. Mine development at Santa Cruz Sur is scheduled to commence this quarter with initial production to coincide with production from Milache.
“Development of the El Compas mine and refurbishment of the La Plata plant are now well underway, with initial production scheduled to commence by the end of the First Quarter, 2018. We also received the mine and plant permits for Terronera and continue to conduct engineering trade-off studies while we await receipt of the dumps and tailings permits.
“We appointed Andrew Sharp as our new VP, Engineering to oversee our technical services and development projects. Over the past three months, he has built a core engineering team including managers of mining, metallurgy, construction, permitting and resource estimation to significantly expand our internal capabilities.
Third Quarter Financial Results
For the third quarter ended September 30, 2017, the Company generated revenue totaling $39.8 million (2016 - $42.1 million). During the quarter, the Company sold 1,275,922 silver oz and 13,759 gold oz at realized prices of $17.20 and $1,299 per oz respectively, compared to sales of 1,200,467 silver oz and 14,228 gold oz at realized prices of $19.16 and $1,340 per oz respectively in Q3, 2016.
After cost of sales of $32.5 million (2016 - $26.9 million), mine operating earnings amounted to $7.3 million (2016 –$15.2 million). Excluding depreciation and depletion of $4.4 million (2016 - $2.8 million), and share-based compensation of $0.1 million (2016- $0.2 million), mine operating cash flow before taxes was $11.9 million (2016 – $17.8 million) in Q3, 2017. Net earnings were $1.0 million (2016 –$5.6 million) after exploration expenses of $3.4 million (2016 – $2.4 million) and corporate general and administrative costs of $1.6 million (2016 – $2.8 million).
Direct production costs per tonne in Q3, 2017 increased 19% compared with Q3, 2016. Reduced production at Guancevi was the key driver behind the higher costs. Cash costs rose 54% on a consolidated basis due to the higher costs per tonne offset by slight improvement in grades and recoveries. All?in sustaining costs rose as a result of management significantly increasing capital investments for the long-term benefit of Guanaceví and El Cubo after a two?year period of reduced capital investment to maximize cash flow and ensure the viability of its operations during low silver and gold prices.
Working capital was $70.3 million, down 14% and 6%, respectively from December 31, 2016 and June 30, 2017. The working capital on-hand is determined to be sufficient for the Company to meet its short and medium term goals.
Conference Call
A conference call to discuss the results will be held today, Thursday, November 2nd at 10am PDT (1pm EDT). To participate in the conference call, please dial the following:
Toll-free in Canada and the US: 1-800-319-4610
Local Vancouver: 604-638-5340
Outside of Canada and the US: 1-604-638-5340
No pass-code is necessary to participate in the conference call.
A replay of the conference call will be available by dialing 1-800-319-6413 in Canada and the US (toll-free) or 1-604-638-9010 outside of Canada and the US. The required pass-code is 1722 followed by the # sign. The audio replay and a written transcript will also be made available on the Company’s website at www.edrsilver.com.
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, 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).
Contact Information - For more information, please contact:
Galina Meleger, Director of Investor Relations
Toll free: (877) 685-9775
Tel: (604) 640-4804
Fax: (604) 685-9744
Email: gmeleger@edrsilver.com
Website: www.edrsilver.com
Greetings from Fred & Entendance Beach
"Management might best serve shareholders here by selling the company."
They should do a friendly merger with Great Panther. Together, with the pipeline both companies have, they could become a very strong player in the silver market.
With 1.94 new 52wk. low near end, and approx. 3.4 M @ 1.98 at the end, couldn't the 3.4 M @ 1.98 have been a large purchase?
Obviously some leaking. New Investor relations Director has some challenges.
Okay guys dump at EOD indicates some bad numbers tomorrow correct?
Wow! Apparently some bad news leaked at end of trading day. Huge volume as stock tanked.
FRB...supposedly moving toward balance sheet normalization in October. Didn't happen. Last weekly report shows 5 Billion $ increase. Will investors finally recognize the box the FRB is in?
New Director of investor relations announced today. Q3 results announced tomorrow. Maybe she brought some new $ into exk today. Lol
Is high grade silver used mostly in industrial applications? This stock seems like it will continue on a downward slope as PMs continue to lose their luster. Management might best serve shareholders here by selling the company. Imo
Oct 24: High grade silver found. Endeavour Silver Drilling Verifies High Grade Silver Mineralization in the Veta Colorada on the Parral Project, Chihuahua, Mexico, posted by Globe Newswire on October 24.
Yep, I agree with you... it will be a process and will require block chain advancement that governments can adopt.
Meanwhile if a snowflake lands that sets off an economic avalanche, all bets are off as to the future of currencies. Gold and silver would likely move up in that environment...at least in the short term. Imo
I think that in 10 years cryptos will be king but there is going to be a rough transition from fiat to them. They aren't ready for prime time yet. I bought some bitcoins in the 200-300's range a few years ago but I didn't think that it was very user friendly and I think we will need to see a next generation type block chain before it gets more widely adopted. I think that gold and silver will be the stop gap when people start realizing how much fiat has been created out of thin air over the past few years.
I think a financial shock that devalues the dollar will also devalue crypto i.e. bitcoin. A shock could move gold and silver prices up, and still see the miners stocks lag or go down short term. A slow protracted dollar devaluation could see cryptos continue to rise and ultimately replace paper fiat. Only Time will tell how this evolves. Jmo
I think that they are still too risky for the big money to pile into in a financial shock. Goldman just went very positive on gold which I think is a big deal and starting to turn the tides of sentiment of the major mainstream banking industry.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=135484515
Yes, mining stocks i.e. exk are valued based on underlying commodities value. The problem with exk is that silver prices seem to be locked in a tight range for the long term. It appears to me that a transition from paper fiat currencies could bypass gold and silver to crypto currencies. Jmo
Yeah these guys generally have no clue when looking at the mining stocks. You can't and shouldn't value them like a traditional stock.
Here is how Zacks works. On 10/12, they raised Great Panther to a hold. On 10/14, they lowered Great Panther to a sell. What changed? All they do is look at the other no-name analysts and do the contrarian move of their recommendation. Here is another example of why these analyst have no clue. They never do any consistent analyzing. They say Alamos Gold has a weak balance sheet due to their debt. Alamos eliminated their debt months ago. They're debt free with about $160 million in cash. These goofs are fun to read but their main job is to manipulate the price to their advantage. I do my own analysis of my stocks. That way when I'm wrong, I only have myself to blame.
No one takes Zacks seriously anymore. Not sure if anyone really cares what these analyst think. It's just a happy, happy market that people just keep buying.
And on Friday the 13th in the scary month of October there is this...https://stocknewstimes.com/2017/10/13/endeavour-silver-corporation-exk-lowered-to-strong-sell-at-zacks-investment-research.html
Oct 5: By 2018, this stock may be "prohibitively expensive" according to a PR Newswire article entitled, "A Major Change in Lithium Markets Could Happen Soon." They've substantially reduced their debt, they have developmental projects in the pipeline, and there is plenty of "near-term growth potential" here.
Oct 11: EXK maintained at market perform by BMO Capital Markets.
Sometimes you out think your plays when you should just sit tight. EXK is way higher percentage wise than GPL since I moved over. Dumb me.
I'm pretty sure they are hoping to kick the can to future generations. So far it looks good. Markets up again. QE created massive inflation in debt market which in turn created artificial inflated values in real estate and stock markets. The ponzi scheme will work until it doesn't.
More US manipulation of gold and silver early this morning. Silver was up .28 and they dropped it down to .03 in a matter of minutes. I hope I'm still around when their precious dollar collapses to where it should be and they have no control of the PM market.
When we have the inevitable systemic meltdown, sleeping well will not be possible regardless of how much gold you have. Imo
But they remain adequate insurance against systemic meltdown if it should occur. Sleep well at night!
Yep, gold and silver have intrinsic value. But, keep in mind that the "market" value can be controlled as long as paper derivatives are accepted and traded in fiat currencies. Crypto currencies have no intrinsic value but have seen increased market value in part because of the perception that governments cannot easily manipulate the value. Imo
It could be decades before gold and silver see any significant market value increases.imo
It's actually kind of funny how the CBanks manipulate the gold/silver price to protect their precious dollar that has lost value but needs to be propped up to the rest of the world as the standard that they should be striving to achieve.
I took a very small interest in litecoin today. First crypto investment. Just going to invest slowly on any dips under $50 and see what happens. Nothing major. Hope to someday own around 100 coins. That might take a year or never happen.
Bitcoin may get close to a buy for me soon. Looks like the game players want to tank it so they can get in on the cheap.
Cryptos dollar values are subject to large fluctuations. The value cannot be controlled like commodities. Demand and supply drive the market price. Demand and supply can be affected significantly by news. Gold and silver values are controlled by the exchanges. Naked shorts are consistently in play to truncate true market forces.
Gold and silver prices will only move sigificantly higher when a massive disruption to the status quo is realized to be irreversible and long term in nature. This could be decades away. But I doubt it. Jmho
EXK gets their costs back in line and they will do very well. I think GPL has the best chance to double and soon.
I have a friend who is into crypto big time. Knows all the currencies. I don't get it but he has made a very nice profit with them.
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