Endeavour Silver Corp (EXK)

[Edge83]

Endeavour Silver Updates Mineral Reserve and Mineral Resource Estimates for its Operating Mines and Development Projects and Reports Initial Mineral Resource Estimate for New Parral Properties

Wed February 7, 2018 6:50 AM|GlobeNewswire|About: EXK
VANCOUVER, British Columbia, Feb. 07, 2018 (GLOBE NEWSWIRE) -- Endeavour Silver Corp. (EXK) (TSX:EDR) (NYSE:EXK) reports updated NI 43-101 Mineral Reserve and Resource Estimates for its three operating mines and two development projects and an initial Mineral Resource Estimate for its new Parral Properties, all in Mexico.

2017 Mineral Reserve and Resource Estimate Highlights (Compared to December 31, 2016)

Silver Proven and Probable Mineral Reserves increased 217% to 33.5 million ounces (oz)
Gold Proven and Probable Mineral Reserves increased 246% to 315,300 oz
Silver equivalent Proven and Probable Mineral Reserves increased 228% to 57.1 million oz (75:1 silver:gold ratio)
Silver Measured and Indicated Mineral Resources decreased 46% to 36.7 million oz
Gold Measured and Indicated Mineral Resources decreased 35% to 362,900 oz
Silver equivalent Measured and Indicated Mineral Resources decreased 42% to 63.9 million oz
Silver Inferred Mineral Resources increased 44% to 53.1 million oz
Gold Inferred Mineral Resources decreased 12% to 300,800 oz
Silver equivalent Inferred Mineral Resources increased 22% to 75.7 million oz
Bradford Cooke, CEO of Endeavour, stated, “We enjoyed solid development and exploration success in 2017, more than replacing our Mineral Reserves and growing our silver Mineral Resources. We also published a Pre-Feasibility Study (“PFS”) for Terronera, a Preliminary Economic Assessment (“PEA”) for El Compas, and an initial silver Mineral Resource Estimate for the new Parral Properties. The substantial growth of our Mineral Reserves and Mineral Resources is a testament to our exploration and acquisition teams. We now have a strong pipeline of exploration and development projects to drive our next phase of organic growth.

“Looking forward to 2018, we plan to invest US$11.1 million on exploration, the majority of which will target organic growth opportunities, including brownfields targets around our operating mines and development projects and greenfields targets such as Parral. This year, Parral will be our largest exploration expenditure, as we continue testing new silver vein targets and enhance our geological understanding of the historic Mineral Resource areas. At Terronera, we will test the southeast extension of mineralization in the high grade Terronera Vein and drill other vein targets. At El Compas, further testing of the Misie-Karla-Karla HW and Calicanto Veins and new zones will be key priorities.”

2017 Mineral Reserve and Resource Estimate Summaries

Proven and Probable silver and gold Mineral Reserves increased year over year by 217% and 246% respectively to 33.5 million ounces of silver and 315,000 ounces of gold. On a silver equivalent basis, Mineral Reserves totalled 57.1 million ounces (at a silver to gold ratio of 75:1). These significant increases in Mineral Reserves are mainly due to the reclassification of Mineral Resources into Mineral Reserves pursuant to the NI 43-101 Technical Report, Preliminary Feasibility Study for the Terronera Project, Jalisco State Mexico dated May 18, 2017. The PFS Report estimated 4.06 million tonnes of Probable Mineral Reserves grading 207 g/t silver and 1.95 g/t gold containing 27 million silver ounces and 255,000 gold ounces at Terronera. When the Terronera Mineral Reserves are excluded from the new estimate, silver and gold Mineral Reserves at the three mines decreased by 11% and 9% respectively.

Measured and Indicated silver and gold Mineral Resources declined by 46% and 35% respectively to 31.6 million ounces of silver and 312,600 ounces of gold. The decrease in Measured and Indicated Mineral Resources was mainly the result of conversion into Mineral Reserves at the Terronera project and at the existing operations. When the conversion of Terronera Indicated Mineral Resources to Mineral Reserves are excluded from the Measured and Indicated Mineral Resource Estimate, Measured and Indicated silver and gold Mineral Resources declined 20% and 14%, respectively at the three mines.

Inferred silver Mineral Resources increased by 44% due to the initial Mineral Resource Estimate for the new Parral Properties. At Parral, forty-one drill holes totalling 11,300 metres were completed, primarily to verify a part of the historic Mineral Resource in the Veta Colorada mine area and to test one of the targets within the Palmilla Mine area. The initial estimate consists of an Indicated Mineral Resource of 216,000 silver ounces and an Inferred Mineral Resource of 19.2 million silver ounces and 18,100 gold ounces. A Technical Report prepared in accordance with NI 43-101 for the Parral Properties will be completed and filed on SEDAR in March 2018.

Last year, the Company completed an NI 43-101 Technical Report for a Preliminary Economic Assessment for the El Compas Project, Zacatecas State, Mexico dated May 11, 2017. The Technical Report estimated an initial Mineral Resource of 495,000 silver ounces and 34,900 gold ounces in the Indicated category; and 465,000 silver ounces and 10,600 gold ounces in the Inferred category. The El Compas Mineral Resource is a shallow high grade epithermal vein system that is estimated to provide a robust after tax return on investment (IRR) of 42% (see Endeavour News Release dated March 27, 2017). Due to the positive economics, low initial capital requirements, and management’s experience in having successfully developed similar mines in Mexico, a decision was made to proceed with the mine development in Q3, 2017. The Company expects to reach commercial production at El Compas in July 2018 (see Endeavour News Release dated January 25, 2018).

[Sue Purb]

You must be referring to the Canadian share price

[shermann7]

Good Afternoon All ... I just picked up a bunch of shares at 2.25

I really think EXK is way undervalued ...

Shermann

[shermann7]

EXK is so undervalued right now - I Will be buying a large position tomorrow - I had no idea this had gone so low ...

Silver Mining is probably the single best investment over the next few years.

Shermann

[hitman558]

Nothing wrong with grabbing a profit.

[Saskey]

Agree on the $3.15, though I don't put time limits down. My sell point is a bit lower, but then I never try to ride them to the very top, figuring that it's safer to stay just below the scramble line

[hitman558]

Where's that dope that predicted $2.80 by the end of January? Anyone who has done any research on EXK knows it will hit $3.15 sometime in February.

[Saskey]

1/26: Price target $3.85, raised from $3.50 by National Bank.

[michaelstl]

New Shareholder
Bot in at 2.39 range. Prospects really look good. You would expect this board to be busy! Looks like I got in just about at the right time.

[hitman558]

https://www.reuters.com/article/us-usa-cftc-enforcement-exclusive/u-s-cftc-to-fine-ubs-deutsche-bank-hsbc-for-spoofing-manipulation-sources-idUSKBN1FF2YK

[hitman558]

33 cents in 3 days. Doable if the MMs turn it loose.

[hitman558]

I will give credit where credit is due. The MM's of the mining sector have done a great job of manipulating all miners in a very synchronized way over the past year. Soon they will have accumulated enough shares to let them run. The real question is, when is soon?

[hitman558]

I hate when I'm wrong. Still over due for a 5% jump day in silver.

Sad thing about today, still have that bear miner market going. Tomorrow, silver could drop 10 cents and all the miners will drop 6/8%. MMs will have to let it run soon.

[hitman558]

We are way over due for a 5% jump in silver.

[hitman558]

7 trading days left for $2.80. Going to be difficult but still a chance.

[hitman558]

Here's 2 more predictions for 2018 to ponder.

EXK will break $8 a share.

EXK will be involved in a merger.

Hopefully, j will be lol-ing with me than at me.

[MotorCityMuscle]

it's possible.. not probable but possible.. support seems to be holding fairly well above 2.35 Next week should be interesting

[hitman558]

Lots of time left. Never underestimate the power of silver.

[jist1]

Good thing no one took you up on that bet. Lol

[hitman558]

Let's have some boredom fun. I predict EXK will break $2.80 before January ends. 10 trading days left.

[hitman558]

The SEC never acts so I never expected them to do anything. The SEC is nothing but an offshore shell company.

[jist1]

Hitman....Keep in mind that the SEC chair is part of the PPT. Do not expect any action from SEC. They are part of the control mechanism.
Markets are controlled/manipulated.

DEFINITION of 'Plunge Protection Team - PPT'

A colloquial name given to the Working Group on Financial Markets. The Plunge Protection Team was created to make financial and economic recommendations to various sectors of the economy in times of economic turbulence. The team consists of the Secretary of the Treasury, the Chairman of the Board of Governors of the Federal Reserve, the Chairman of the SEC and the Chairman of the Commodity Futures Trading Commission.



Read more: Plunge Protection Team - PPT https://www.investopedia.com/terms/p/plunge-protection-team.asp#ixzz54RqjXi9t ;
Follow us: Investopedia on Facebook

[hitman558]

Happens every trading day and the SEC just looks away.

[MotorCityMuscle]

if they have a say in it the price will be down before the bell rings for sure.

[hitman558]

US markets closed today and we have a nice jump in gold and silver. Let's see if we get the usual 7:25/7:35am CST US bank manipulation on Tuesday that drops both down.

[hitman558]

I'm going out on a limb and predicting a 4th quarter EPS of .05 vs. consensus estimate of .02 and revenue in the $44/45 million range. Full disclosure, I'm really not sure if 4th grade math is used by their accountants.

[wmbz-sc]

You pretty much nailed it.

Au & Ag have been suppressed over and over and over again by the paper boyz. The great "melt-up" in the stock market just keeps right on going, and crypto mania is really just beginning. However one day and (I know not when) this pumped up by the central banks (world wide) cycle will end.

Au & Ag will always be a great insurance policy, and I keep mine close at hand.

GLTA

[hitman558]

Looks like very good results. Now we have to see what cost cutting they have done.

[hitman558]

New presentation on EXK website.

[jist1]

Gotta hope it's good results because It just doesn't seem like Precious Metals are gonna move up significantly for years. IMO
Apparently Fiat and Crypto currencies are much more precious than gold and silver. I made the mistake of thinking world wide debt mattered and would impact asset values. I was wrong and it seems inflation can be pumped into stocks and real estate forever as long as interest rates are contained.
The US has the plunge protection team and other countries are using their Central banks to control markets.
Physical Gold and Silver "Might" be good insurance if we have WW3 but it might only be protecting future generations. I'm doubtful that Miners will outperform other sectors unless we have a recession.
Apparently the business cycle is dead and governments will not allow recessions.

[hitman558]

Should get 4th quarter mining and revenue update sometime soon.

[hitman558]

My 2018 stock pick of the year is EXK. Tax cuts for businesses will increase manufacturing. Increased manufacturing will increase the demand for silver. Increase demand for silver will increase the price of silver. Increase in price of silver(I'm estimating $25oz) will increase Endeavour Silver(EXK) share price to $10+ in 2018. Just my opinion but I believe EXK is going to have a monster year.

[hitman558]

I have a feeling we will see some interesting miner trading in the last 30/60 minutes tomorrow to end 2017.

[hitman558]

Finally broke that $2.50 resistance. Next stop should be $2.64 but someone is trying hard to get it back under $2.50 with a 100 share after hour trade. If we could get back up to the silver $16.90's by Friday, we could be in the $3s.

[hitman558]

Having problems holding that $2.50 which is surprising as $2.64 is the next resistance level. If we can't close above $2.50 tomorrow, I see this dropping back to the low $2.30's.

Just an opinion. I think 2018 will be the year of silver in the precious metal category. I'm looking at $20-$25 an ounce next year on an increase in demand. Silver miners will be a huge play in 2018 with EXK having a great chance of going to $8.00+.

[Edge83]

Added more today

[jist1]

A value proposition is mostly about perception. Right now crypto technology has a high value quotient. The perceived use case for intangibles can change quickly.
Bitcoin and other crypto values could get slammed when people find the use case to be minimal.
I think cold and silver use case is dwindling amongst current generation, but at least they are tangible and they will probably die a slow death. Imo

[hitman558]

My new way of thinking is to buy cryptos and let gold/silver die a slow death. The big boys/banks hate crytos because they can't manipulate them like they do with metals. So, let them see how metal manipulation really works by selling off PMs and watch them cry as their investments dwindles. What goes around, comes around. Tax loss selling what I have left in miners.

[hitman558]

Should be an interesting week with rate hike and Bitcoin opening for trade on the CME. Will precious metals drop big on rate hike announcement before shooting up like they have in the past rate hikes and will cryptos jump or swoon on exchange trading? Should be a wild week.

[hitman558]

“No matter how you look at it, we are cheap, cheap, cheap,’’ Cooke told attendees at the Cambridge House Gold & Silver Summit. “ We think there is a bounce coming.”

Ummmm...when you think of it....you can only drop another $2.04. Even a penny gain would be a bounce here. So, I guess he's right.

[hitman558]

I don't think any miner would have the guts to do it but it would be interesting to see.

[jist1]

Agreed. But I don't think exk will go that route. The management is looking to provide a decent return long term. If you have a 30 year time horizon, exk might do well.

[Saskey]

I'm with you Bleezking. Stocks for products made of thin air might be great for a quick flip, but I'd rather chance the stocks whose basis is solid. Gold, silver, oil, and these days even water. Someday water will be more valuable than oil. If you follow the successes of the old gold rushes, you'd avoid the metal and invest in the products that miners use to get at the metal. I think I've got one of those unless it sold already. But overall I've had pretty good luck with metals. Shiny!

[hitman558]

The first miner that is smart enough to invest big in bitcoin, ether or lite and then sell a percentage of their product in crytocurrency will soar 1000% easily.

[jist1]

Gold and Silver discovery used to be a big deal.
I'm hoping they discover some Bitcoin.
Maybe they should convert to a bitcoin miner.
I just read about a biotech company that converted to model hoping to benefit from the Bitcoin craze.

[Saskey]

12/4: EXK Discovers High Grade Silver-Gold Mineralization in the Misie and Calicanto Vein Systems on the Calicanto Property, Zacatecas, Mexico after drill-testing (Globe Newswire)

[jist1]

Precious metals are not getting the fear $ anymore. I notice the crypto move up when North Korea fires missile a few minutes ago. Stock markets were unaffected. Amazing!!!

[mcokpba]

Endeavour Silver Corp - Ready for Next Leg up of the Silver Bull Market NOV 27, 2017

Brad Cooke, CEO of Endeavour Silver Corp. explains the next leg up in the continuing Silver Bull Market.

https://goldsilver.com/blog/endeavour-silver-corp-ready-for-next-leg-up-of-the-silver-bull-market/

[jist1]

It may not be safe but it's value in $ terms is exploding compared to gold and silver. Bitcoin now almost to $10k/coin.
It appears that the new age saver/investor is bypassing traditional stores of value and average Joe's have not even considered bit coin yet. All the commercials hawking gold and silver the past 10 years should have given me a clue. I have a feeling that we see huge amounts of precious metal $s moving to bit coin. Jmo

[Bleezking]

Metals are where it's At! Digital... I'm in i.t. and digital has to many weaknesses. Digital currency, not safe.