Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Endeavour Silver looking at three new mines

Thursday, March 2, 2017 8:31
% of readers think this story is Fact. Add your two cents.

Endeavour Silver Corp (TSX:EDR) returned to profit in 2016 though it ended the year on a slightly downbeat note as silver and gold production dropped.

Lower operating costs, a weak peso and a higher silver price enabled the Mexican silver group to post an annual profit of C$3.9mln, but revenues were lower at C$159mln (C$184mln) due to the lower production especially in the final quarter.

Endeavour posted a net loss of C$5.2mln (C$2.2mln) in the final three months, but chief executive Bradford Cooke is optimistic that 2017 will see it make progress.

 ”Looking back, 2016 was a year of transition for Endeavour Silver.

“We delivered sharply improved financial performance in 2016 primarily due to higher metal prices and lower operating costs.

“Production was down year on year due to our decisions in January to significantly reduce spending on exploration and development in 2016 at low metal prices, which reduced our mine access and therefore metal production.

“We reversed that decision at the end of the second quarter.

“With the acquisition last year of two high grade silver-gold development projects in the historic silver mining districts of Zacatecas and Parral, Mexico and the advancement of our exciting new discovery on the Terronera property, our focus has now turned to near term growth.

“That makes 2017 a year of transformation for Endeavour as the company is now in a position to potentially build three new mines over the next three years to fuel Endeavour’s next phase of organic growth.” 

Story by ProactiveInvestors


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.