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« Portfolio Update: 24 February 2008 | Main | A Bet Against The Banks »

Endeavour Silver Corporation Options Navegantes

Endeavour Silver Logo 21 feb 08

Yesterdays news release was well received by silver bugs as the price of Endeavour jumped today by 10.63% to $4.06 as we write. Silver also put in a good day rising to $17.78 as we write, which no doubt acted as an additional kicker to Endeavours move.

The company announced “that it has acquired an option to purchase the Navegantes silver properties, located approximately 80 km west of the city of Hidalgo de Parral in Chihuahua State, Mexico.”

The Navegantes properties cover 470 hectares and include two historic silver mines, Jorge and San Pedro mines were known for their "bonanza" grades as they were past producers. Endeavour can gain total control of Navigates for $470,000, an exciting prospect for not a great deal of money. The property is accessible by road and there is a near by town called San Pablo Balleza which has hotels, stores and an air strip, all good stuff!

Bradford Cooke, Chairman and CEO, goes on to say, "In 2007, Endeavour discovered a new polymetallic mineralized zone on the El Cometa property at Parral on a similar, unexplored, past-producing mine property and Endeavour staff feel that Navegantes also holds excellent discovery potential."

We would also draw your attention to that word 'feel' in the sentence above. When all the technical analysis has been done we still need to 'feel' good about a move, in fact if the 'gut feel' says No! Then we tend to back off. Not scientific we know, but we do need to feel good about something and we do feel good about this.

The real annoying part for us is that we were hoping to acquire a few more shares at around the $3.25 level but the stock price just didn't drift low enough! Rats.

If you have the time and wish to read the news release in full please click this link.

If you would like to follow our adventures in the silver sector and receive our frequently published and soon to be legendary free newsletter then please click this link.

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