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« SILVER: A Testing Time for Silver Stock Holders | Main | Silver: May 2006 verses May 2007 »

Endeavour Silver Corp: Watch for Buying Opportunity


Endeavour Silver Corp Chart

Endeavour Silver Corporation is one of the recent additions to our silver stocks portfolio when we were fortunate enough to make our first purchase at under $4.00.

As you can see from the chart above the fall in the price of silver has resulted in some profit taking, resulting in the stock price retreating to around $4.92 on the AMEX Stock exchange. The next month or so could be rather slow for precious metals in general so we could get another opportunity to accumulate more of this silver producer at advantageous price levels. We doubt that we will see sub $4.00 again but $4.00 to $4.50 would still be a bargain in our eyes.

In a report published this week the company outlined their performance for the quarter in which a couple facts stood out for us:


“The cash cost per oz of silver produced for the 1st Quarter 2007 was US$5.85 per oz compared to US$6.13 per oz in Q1 2006.” This shows that the company is driving costs down which will pay real dividends as the silver price rises and their profit margins increase.

“Reserves tripled at Guanacevi to 9.93 million oz silver and resources also tripled to 21.06 million oz indicated and 9.99 million oz inferred.” This shows that they are discovering more silver and adding value to their reserves.

This is a producing silver mine where the future becomes brighter with every news release. We are of the firm opinion that silver itself is set to move higher once these current doldrums are behind us so we will look to accumulate on any dips over the summer.

Endeavour Silver Corporation trades on (TSX: EDR) (AMEX: EXK) (DB Frankfurt: EJD)

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