New Page 2
By: Peter Szafranski
Time waits for no man – neither do gold or silver deposits. Both reward
aggressive and smart companies who find where precious metals dwell and bring
them to market. With projections from some quarters for gold prices to climb as
high as $10,000 U.S. by 2012, time is of the essence to get shovels into the
earth.
In early July, Vancouver-based Endeavour Silver Corp. (TSX:EDR) announced new
records for quarterly silver and gold production from the Company's two
operating silver mines in Mexico, the Guanacevi Mine in Durango State and the
Guanajuato Mine in Guanajuato State.
Figures released on July 7 announced that EDR silver production totaled 826,439
ounces (oz), while gold production amounted to 4,461 oz in Q2 2010, up 41% and
61% respectively from the same quarter the year before. As a result,
silver-equivalent production rose to 1.1 million oz in Q2, 2010, using gold as
the only silver equivalent, at a 65:1 silver: gold ratio.
This development keeps attention on EDR, and keeps the momentum rolling; in
June, the company announced it had expanded its property holdings near the
Company's operating Bolanitos silver mine in Guanajuato. Specifically, EDR
acquired the Belen II and Ampliacion de Belen properties (192 hectares), located
approximately 2.5 kilometres east of its current Lucero silver-gold vein
discovery and midway between the Company's operating Bolanitos and Cebada
silver-gold mines at Guanajuato.
EDR is a small-cap silver mining company focused on the growth of its silver
production, reserves and resources in Mexico. Since its startup in 2004,
Endeavour has posted five consecutive years of growing silver production and
resources. The organic expansion programs now underway at Endeavour's two
operating silver mines in Mexico combined with its strategic acquisition and
exploration programs should help Endeavour achieve its goal to become the next
premier mid-tier silver mining company.
Endeavour claims to stand out from other silver mining companies for the strong
organic growth potential of its core assets, its high silver grades and leverage
to the price of silver, the substantial exploration upside of its Mexican mining
properties, and the significant under-utilized capacities of the Guanacevi and
Guanajuato plants.
Given the richness of its finds in Mexico, it should come as no surprise that
EDR’s stock price has pressed against the five-dollar barrier for inclusion as a
small-cap stock. The price soared as high as $4.57 in early January, but sank as
low as $1.66 in the first week of last July. The news from Guanajuato this week
spiked the stock by a quarter to around the $3.50 mark, still a bargain for
those looking for more gold and silver exposure in their portfolios.
About AllPennyStocks.com:
AllPennyStocks.com is a website devoted to Canadian and American Stocks and
Penny Stocks. Some features in the website include quotes, news and charts. The
site also offers weekly write-ups of financial news, weekly penny stocks to
watch, daily top 50 penny stocks info, technical analysis, a portfolio manager,
a section for visitors to input their own penny stock picks, as well as an
elaborate amount of information for beginning investors. Visitors can sign up to
the AllPennyStocks.com mailing list to receive more penny stock articles, stock
profiles and more. AllPennyStocks.com is a well developed and recognized
financial site among the investment community.
