Wednesday, January 30, 2013

Endeavour Silver Corp. - EDR.t

Endeavour Silver Corp. - EDR.t operates three producing silver mines in Mexico, the Guanacevi Mine in the state of Durango and the BolaƱitos and El Cubo Mines in the state of Guanajuato.

In 2012, Guanacevi, BolaƱitos and El Cubo mines produced 4.5 million ounces of silver and 38,600 ounces of gold. With the acquisition of El Cubo, the company expects cash costs to rise between $6.00 and $7.00 per ounce.

On January 30, 2013 the company reported NEWS

Endeavour Silver Corp. (TSX: EDR, NYSE: EXK, Frankfurt: EJD) announces that it is forecasting its ninth consecutive year of production growth for 2013. The Company owns and operates three underground, silver-gold mines in Mexico, the Guanacevi Mine in Durango State and the Bolanitos and El Cubo Mines in Guanajuato State.

Production Outlook

Endeavour's silver production in 2013 is forecast to rise 12-18% to 5.0-5.3 million ounces (oz) and gold production is anticipated to increase 19-27% to 46,000-49,000 oz as shown in the table below. Silver equivalent production is expected to climb 14-22% to 7.3-7.8 million oz (at a silver:gold ratio of 50:1).