The latest news release from Endeavour Silver Corporation sparkles with yet another record quarter. The company has reported that Silver production was 34% higher than Q2, 2007 and 74% higher than compared to Q3, 2006.

We have bought Endeavour twice and not sold any of this stock as they are now clearly demonstrating that they are well on the way to hit their target of two million ounces in 2007.

A comment from the Chairman and CEO, Bradford Cooke, went as follows:

“Endeavour enjoyed another record quarter of silver production in Q3, 2007. Notwithstanding certain issues and delays experienced by the Guanacevi plant expansion and Bolanitos mine development projects, the Company once again added to its track record for strong production growth quarter-on-quarter. With the recent appointment of our new Vice President, Mexico Operations, David Howe, we are confident Endeavour will continue to grow production at a steady pace and focus on improving its operating performance.”

As busy investors we tend to clock the headline and move on. However it is important to try and understand the progress that is being made on the projects that any silver miner is involved with. Below is an extract from Endeavours schedule, which we are pleased to see as not all companies publish this sort of data. Over time you will see that the changes that are being implemented tie in with increased production. Hence your confidence in the companies’ ability to perform will grow and you might even get a better nights sleep.

At Guanacevi, the new lined tailings pond came into operation in July and the expanded Merrill Crowe recovery circuit was successfully commissioned at the beginning of October. Other capital improvement projects are expected to the completed by year-end and can be updated as follows:

New silver dore refinery 70% complete
New high density tailings thickeners 40% complete
Expanded agitation leach tanks 20% complete
Porvenir pump station 80% complete
Santa Cruz ramp 40% complete

At Bolanitos, the Phase 1 tailings pond expansion was completed in July and Phase 2 is now in planning for next year. Several mine development projects were initiated in Q3, 2007 for completion by year-end and can be updated as follows:

Cebada level 315 clean-up 100% complete
Cebada level 515 clean-up 80% complete
Ascuncion mine dewatering 60% complete

We are hanging on to this stock, as we believe there is more to come.

Endeavour Silver Corporation trades under the symbol EDR on the TSX, EXK on the AMEX, and EJD on the Frankfurt Stock Exchange. As we write the stock is trading at $3.94 in Canada for a gain of around 8% today.

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Have a good one