Endeavour Silver Corp: Production Up a Whopping 63%!
Thursday, April 26, 2007 at 04:42AM
Silver Prices in Silver Mining Companies
Endeavour Silver yesterday reported first quarter production for 2007 at 490,986 oz silver and 1020 oz gold from their Durango property in Mexico. This output represents a 63% increase over the same period last year when production hit 300,872 oz.

This is a significant event as it puts Endeavour's silver production 10% ahead of schedule in their quest to achieve a target of 2.6 million ozs of silver from the Guanacevi Mines. When we put this into the context of the current ‘skills labour and plant’ shortages scenario it is a terrific result to actually get ahead of the schedule. How many times do we hear grumbling? We can’t get the drills, men, machinery, permission, etc. Yes this is a very pleasing piece of news and well done to the team at Endeavour. Their success is evidenced by the fact that they have managed to assemble a team of 412 personnel who are presently engaged onsite at Guanacevi in an effort to complete the capital projects as soon as possible and that the new ball mill is now fully commissioned.

As we are in the good news mode we ought to mention Endeavours latest acquisition, which is the Bolanitos Mines project. This acquisition was made last week and is now being assessed for development and production with a forecast to be released later in the second quarter.

The stock closed last night in Toronto at $C5.67 and $5.07 on the AMEX and remains on our Buy List as we expect this silver producer to achieve its goal of becoming one the top primary silver producers in the world.

Endeavour Silver Corporation can be found on the following stock exchanges: (TSX: EDR) (AMEX: EXK) (DB Frankfurt: EJD)
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