Endeavour Silver Corporation Revenues Jump 85%
Wednesday, July 13, 2011 at 02:22AM
Silver Prices in Silver Mining Companies
EXK Chart 13 July 2011.JPG

We initially bought Endeavour Silver Corporation (EXK) for $3.97 on the 7th December 2007 and since have built a position with the average price that we have paid for Endeavour Silver being $4.10 per share and as we can see from the above chart this silver producer closed yesterday at $9.81 so steady progress is being made.

This week Endeavour released the following second quarter update which we start with a comment from Godfrey Walton, President and COO:

"Endeavour delivered another quarter of growing silver and gold production in Q2, 2011. Production was up slightly year on year and down slightly quarter on quarter but well within our guidance for 2011. We planned for a relatively flat quarter of production due to our operations teams focusing on the capital expansion programs."

"Production should start rising again once the Guanajuato plant expansion from 600 tonnes per day (tpd) to 1,000 tpd is completed in Q3, 2011. We are actually installing an additional 1,000 tpd circuit at the plant, to be commissioned later this quarter, at which time the current 600 tpd circuit will be idled, leaving the door open for further production expansion to 1,600 tpd once our reserves and resources have also grown."


Continued growth of silver and gold production in the Second Quarter, 2011 from the Company's two operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Guanajuato Mine in Guanajuato State. 

Production Highlights of Second Quarter, 2011 (Compared to Second Quarter, 2010)

Silver production up 3% to 850,476 oz
Gold production up 8% to 4,831 oz
Silver and equivalents production up 4% to 1.04 million oz (at a 40:1 silver:gold ratio) 
Revenues up 85% to US$36.4 million
Realized silver price up 102% to US$37.65 per oz sold
Realized gold price up 26% to US$1,523 per oz sold

Revenues were up for the quarter thanks to both the higher metal production and higher realized metal prices.

Endeavour Silver Corporation is traded in Canada, USA and Europe on the following three stock exchanges:



(DB-Frankfurt: EJD)

Endeavour’s stock price closed on the NYSE at $9.81 up 4.70% on the day. The company has a market capitalization of $696 million and a healthy volume of shares traded at around three million per day and forms a large part of our core position.

Regarding www.skoptionstrading.com. We currently have a number of trades on the drawing board, two of which have been placed and are now showing a profit.

Our model portfolio is up 338.11% since inception

An annualized return of 117.00%

Average return per trade of 40.41%

81 closed trades, 78 closed at a profit

Average trade open for 46.27days

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The above progress chart shows our performance when profits are re-invested, however, to see exactly how it is going, please click this link.

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