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Happens every trading day and the SEC just looks away.
if they have a say in it the price will be down before the bell rings for sure.
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.
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.
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
Looks like very good results. Now we have to see what cost cutting they have done.
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.
Should get 4th quarter mining and revenue update sometime soon.
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.
I have a feeling we will see some interesting miner trading in the last 30/60 minutes tomorrow to end 2017.
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.
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+.
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
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.
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.
“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.
I don't think any miner would have the guts to do it but it would be interesting to see.
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.
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!
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.
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.
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)
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!!!
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/
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
Metals are where it's At! Digital... I'm in i.t. and digital has to many weaknesses. Digital currency, not safe.
Not sure about $10/oz but it appears many potential investors are opting to avoid dollar and peso and other fiat ponzi currency risk and moving into bitcoin and other crypto. Precious metals prices have been controlled by bankers and government officials for too long now...and it seems the hedge risk has moved. I wonder how long the big crypto miners will hold most of their bitcoin. They might end up as the new world central banks.
So the ur saying it wants to match the price for a gallon of gasoline?
Sweet :(
Markets are up and Exk down. Lol
Did BMO Capital specify which market??
11/17: EXK initiated at Market Perform by BMO Capital (Dow Jones)
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.
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