VANCOUVER, BRITISH COLUMBIA - Endeavour Silver Corp. (TSX: EDR)(NYSE Alternext US: EXK)(DBFrankfurt: EJD) announces that the Company achieved its fourth consecutive year of record silver production in 2008, totaling 2.34 million ounces silver, up 9% over 2007.
Silver production in Q4, 2008 from the Company's two operating silver mines in Mexico, Guanacevi and Guanajuato, was a record 691,347 oz silver, up 10% over the Third Quarter, 2008 and up 8% over Q4, 2007. The new all-time high silver production can largely be attributed to the successful rehabilitation and re-commissioning of the Guanajuato Mines project, which was acquired in May 2007 but only re-commenced commercial production in June, 2008 after completion of major mine rehabilitation and safety upgrade programs.
To view the Guanajuato Mines Project, please click here: .
In addition, gold production rose sharply in 2008 to 8,187 oz gold, up 27% compared to 2007. The increased gold production can also be attributed to re-commissioning of the Guanajuato Mines project as it has significantly higher gold grades compared to Guanacevi. Expressed as silver equivalents based on a silver: gold ratio of 75: 1, Endeavour's combined silver and gold production amounted to 881,397 oz silver equivalents in Q4, 2008 and 2.95 million oz silver equivalents in 2008, up 19% over 2007.
To view the Guanacevi Mines Project, please click here: http://www.edrsilver.com/s/Guanacevi.asp.
Endeavour plans to release an overview of its 2008 exploration activities by the end of January, 2009 and a more detailed review of its 2008 mining operations and 2009 production forecast in February, 2009. The 2008 year-end financial results and 2009 financial outlook will be released in late March, 2009.
Bradford Cooke, Chairman and CEO, commented, "We are pleased to announce that Endeavour beat its revised production forecast of 2.3 million oz silver for 2008, notwithstanding our decision in September to slow production growth so long as the silver price remains depressed. Management is of the belief that the silver price will rebound in 2009 so we plan to use this time of lower silver prices to accelerate the development of new ore-bodies that will facilitate our next phase of production growth."
"Once the silver price bounces back, and our accelerated mine development projects are well underway, we plan to resume our aggressive production growth so as to achieve our 5th consecutive year of record silver production. Endeavour's two operating silver mines should be able to more than double their silver production over the next two and a half years in order to fill the two process plants to their operating capacities. Management will also continue to seek opportunities for growth by acquisitions in 2009."
Endeavour Silver Corp. (TSX: EDR)(NYSE Alternext US: EXK)(DBFrankfurt: EJD) is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour's two operating mines, Guanacevi in Durango State and Guanajuato in Guanajuato State, should propel Endeavour into the ranks of mid-tier primary silver producers.
ENDEAVOUR SILVER CORP.
Bradford Cooke, Chairman and CEO
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain statements contained herein constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties, as discussed in the Company's filings with Canadian and United States securities agencies. The Company expressly disclaims any obligation to update any forward-looking statements other than as required by applicable law. We seek safe harbour.
The TSX Exchange has neither approved nor disapproved the contents of this news release.
Contacts:
Endeavour Silver Corp.
Hugh Clarke
(604) 685-9775 or Toll Free: 1-877-685-9775
(604) 685-9744 (FAX)
Email: hugh@edrsilver.com
Website: www.edrsilver.com
© MarketWire 2009
Showing posts with label Endeavor Silver. Show all posts
Showing posts with label Endeavor Silver. Show all posts
Thursday, January 15, 2009
Thursday, December 18, 2008
Endeavour Silver Arranges CA$4 Million Special Warrant Private Placement
VANCOUVER, BRITISH COLUMBIA - Endeavour Silver Corp. (TSX: EDR)(NYSE ALTERNEXT US: EXK)(DBFrankfurt: EJD) announces that it has arranged a CA$4 million private placement financing of special warrants brokered by certain Canadian placement agencies. The agents have an oversubscription right to place up to an additional CA$1 million and the financing is expected to close no later than December 30, 2008, subject to TSX and regulatory approvals.
The private placement will consist of up to 3,080,000 special warrants priced at CA$1.30 per special warrant for gross proceeds of up to CA$4,004,000. Each special warrant is exchangeable for one common share and one half share purchase warrant. Each full share purchase warrant can be exercised to purchase an additional common share at an exercise price of CA$1.90 per share within a 5 year period from the earlier of the closing of the placement plus 60 days, or from the issuance of a final receipt for a prospectus to qualify the special warrants in all relevant Canadian jurisdictions.
The agents will receive a 6% cash fee and brokers' special warrants equal in number to 6% of the number of special warrants sold pursuant to the private placement. Each broker special warrant will be exchangeable for one broker warrant. Each broker warrant can be exercised to purchase an additional common share at CA$1.51 per share and will have the same expiry term as the share purchase warrants. The units will be subject to a four month plus one day hold period. Endeavour will use its commercially reasonable efforts to prepare and file a preliminary prospectus and final prospectus in the Canadian offering jurisdictions as soon as possible after the closing of the private placement, and seek to obtain receipts within, respectively, 45 days and 60 days after closing. If Endeavour has not filed and obtained receipts for a final Prospectus within 60 days of the date of the closing of the private placement, the placees will be entitled to receive 1.1 Common Shares (in lieu of 1 Common Share) and 0.55 Warrants (in lieu of 0.5 Warrants) on the exercise of each Special Warrant.
The net proceeds of the financing will be added to working capital to fund the Company's operating and capital plans at its two producing silver mines in Mexico and to provide additional capital for possible acquisitions in 2009.
The offered securities will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons", as such term is defined in Regulation S under the U.S. Securities Act absent registration or an applicable exemption from registration requirements.
This news release shall not constitute an offer to sell or an offer to buy the securities in any jurisdiction.
Endeavour Silver Corp. (TSX: EDR)(NYSE ALTERNEXT US: EXK)(DBFrankfurt: EJD) is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour's two operating mines, Guanacevi in Durango and the Guanajuato Project in State, coupled with the Company's aggressive acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of mid-tier primary silver producers.
ENDEAVOUR SILVER CORP.
Bradford Cooke, Chairman and CEO
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain statements contained herein regarding the Company and its operations constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include fluctuations in precious metal prices, unpredictable results of exploration activities, uncertainties inherent in the estimation of mineral reserves and resources, fluctuations in the costs of goods and services, problems associated with exploration and mining operations, changes in legal, social or political conditions in the jurisdictions where the Company operates, lack of appropriate funding and other risk factors, as discussed in the Company's filings with Canadian and American Securities regulatory agencies. Resource and production goals and forecasts may be based on data insufficient to support them. Godfrey Walton, P.Geo. and/or Bradford Cooke, P.Geo. are the Qualified Persons for the Company as required by NI 43-101. The Company expressly disclaims any obligation to update any forward-looking statements other than as required by applicable securities legislation. We seek safe harbour.
The TSX Exchange has neither approved nor disapproved the contents of this news release.
Contacts:
Endeavour Silver Corp.
Hugh Clarke
(604) 685-9775 or Toll Free: 1-877-685-9775
(604) 685-9744 (FAX)
Email: hugh@edrsilver.com
Website: www.edrsilver.com
The private placement will consist of up to 3,080,000 special warrants priced at CA$1.30 per special warrant for gross proceeds of up to CA$4,004,000. Each special warrant is exchangeable for one common share and one half share purchase warrant. Each full share purchase warrant can be exercised to purchase an additional common share at an exercise price of CA$1.90 per share within a 5 year period from the earlier of the closing of the placement plus 60 days, or from the issuance of a final receipt for a prospectus to qualify the special warrants in all relevant Canadian jurisdictions.
The agents will receive a 6% cash fee and brokers' special warrants equal in number to 6% of the number of special warrants sold pursuant to the private placement. Each broker special warrant will be exchangeable for one broker warrant. Each broker warrant can be exercised to purchase an additional common share at CA$1.51 per share and will have the same expiry term as the share purchase warrants. The units will be subject to a four month plus one day hold period. Endeavour will use its commercially reasonable efforts to prepare and file a preliminary prospectus and final prospectus in the Canadian offering jurisdictions as soon as possible after the closing of the private placement, and seek to obtain receipts within, respectively, 45 days and 60 days after closing. If Endeavour has not filed and obtained receipts for a final Prospectus within 60 days of the date of the closing of the private placement, the placees will be entitled to receive 1.1 Common Shares (in lieu of 1 Common Share) and 0.55 Warrants (in lieu of 0.5 Warrants) on the exercise of each Special Warrant.
The net proceeds of the financing will be added to working capital to fund the Company's operating and capital plans at its two producing silver mines in Mexico and to provide additional capital for possible acquisitions in 2009.
The offered securities will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons", as such term is defined in Regulation S under the U.S. Securities Act absent registration or an applicable exemption from registration requirements.
This news release shall not constitute an offer to sell or an offer to buy the securities in any jurisdiction.
Endeavour Silver Corp. (TSX: EDR)(NYSE ALTERNEXT US: EXK)(DBFrankfurt: EJD) is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour's two operating mines, Guanacevi in Durango and the Guanajuato Project in State, coupled with the Company's aggressive acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of mid-tier primary silver producers.
ENDEAVOUR SILVER CORP.
Bradford Cooke, Chairman and CEO
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain statements contained herein regarding the Company and its operations constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include fluctuations in precious metal prices, unpredictable results of exploration activities, uncertainties inherent in the estimation of mineral reserves and resources, fluctuations in the costs of goods and services, problems associated with exploration and mining operations, changes in legal, social or political conditions in the jurisdictions where the Company operates, lack of appropriate funding and other risk factors, as discussed in the Company's filings with Canadian and American Securities regulatory agencies. Resource and production goals and forecasts may be based on data insufficient to support them. Godfrey Walton, P.Geo. and/or Bradford Cooke, P.Geo. are the Qualified Persons for the Company as required by NI 43-101. The Company expressly disclaims any obligation to update any forward-looking statements other than as required by applicable securities legislation. We seek safe harbour.
The TSX Exchange has neither approved nor disapproved the contents of this news release.
Contacts:
Endeavour Silver Corp.
Hugh Clarke
(604) 685-9775 or Toll Free: 1-877-685-9775
(604) 685-9744 (FAX)
Email: hugh@edrsilver.com
Website: www.edrsilver.com
Wednesday, December 17, 2008
Endeavour Silver Arranges CA$4 Million Special Warrant Private Placement
VANCOUVER, BRITISH COLUMBIA, Dec 17, 2008 (MARKET WIRE via COMTEX) -- Endeavour Silver Corp. (CA:EDR) (NYSE ALTERNEXT US: EXK) announces that it has arranged a CA$4 million private placement financing of special warrants brokered by certain Canadian placement agencies. The agents have an oversubscription right to place up to an additional CA$1 million and the financing is expected to close no later than December 30, 2008, subject to TSX and regulatory approvals.
The private placement will consist of up to 3,080,000 special warrants priced at CA$1.30 per special warrant for gross proceeds of up to CA$4,004,000. Each special warrant is exchangeable for one common share and one half share purchase warrant. Each full share purchase warrant can be exercised to purchase an additional common share at an exercise price of CA$1.90 per share within a 5 year period from the earlier of the closing of the placement plus 60 days, or from the issuance of a final receipt for a prospectus to qualify the special warrants in all relevant Canadian jurisdictions.
The agents will receive a 6% cash fee and brokers' special warrants equal in number to 6% of the number of special warrants sold pursuant to the private placement. Each broker special warrant will be exchangeable for one broker warrant. Each broker warrant can be exercised to purchase an additional common share at CA$1.51 per share and will have the same expiry term as the share purchase warrants. The units will be subject to a four month plus one day hold period. Endeavour will use its commercially reasonable efforts to prepare and file a preliminary prospectus and final prospectus in the Canadian offering jurisdictions as soon as possible after the closing of the private placement, and seek to obtain receipts within, respectively, 45 days and 60 days after closing. If Endeavour has not filed and obtained receipts for a final Prospectus within 60 days of the date of the closing of the private placement, the placees will be entitled to receive 1.1 Common Shares (in lieu of 1 Common Share) and 0.55 Warrants (in lieu of 0.5 Warrants) on the exercise of each Special Warrant.
The net proceeds of the financing will be added to working capital to fund the Company's operating and capital plans at its two producing silver mines in Mexico and to provide additional capital for possible acquisitions in 2009.
The offered securities will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons", as such term is defined in Regulation S under the U.S. Securities Act absent registration or an applicable exemption from registration requirements.
This news release shall not constitute an offer to sell or an offer to buy the securities in any jurisdiction.
Endeavour Silver Corp. (CA:EDR) (NYSE ALTERNEXT US: EXK) is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour's two operating mines, Guanacevi in Durango and the Guanajuato Project in State, coupled with the Company's aggressive acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of mid-tier primary silver producers.
ENDEAVOUR SILVER CORP.
Bradford Cooke, Chairman and CEO
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain statements contained herein regarding the Company and its operations constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include fluctuations in precious metal prices, unpredictable results of exploration activities, uncertainties inherent in the estimation of mineral reserves and resources, fluctuations in the costs of goods and services, problems associated with exploration and mining operations, changes in legal, social or political conditions in the jurisdictions where the Company operates, lack of appropriate funding and other risk factors, as discussed in the Company's filings with Canadian and American Securities regulatory agencies.
Resource and production goals and forecasts may be based on data insufficient to support them. Godfrey Walton, P.Geo. and/or Bradford Cooke, P.Geo. are the Qualified Persons for the Company as required by NI 43-101. The Company expressly disclaims any obligation to update any forward-looking statements other than as required by applicable securities legislation. We seek safe harbour.
The TSX Exchange has neither approved nor disapproved the contents of this news release.
Contacts:
Endeavour Silver Corp.
Hugh Clarke
(604) 685-9775 or Toll Free: 1-877-685-9775
(604) 685-9744 (FAX)
Email: hugh@edrsilver.com
Website: www.edrsilver.com
The private placement will consist of up to 3,080,000 special warrants priced at CA$1.30 per special warrant for gross proceeds of up to CA$4,004,000. Each special warrant is exchangeable for one common share and one half share purchase warrant. Each full share purchase warrant can be exercised to purchase an additional common share at an exercise price of CA$1.90 per share within a 5 year period from the earlier of the closing of the placement plus 60 days, or from the issuance of a final receipt for a prospectus to qualify the special warrants in all relevant Canadian jurisdictions.
The agents will receive a 6% cash fee and brokers' special warrants equal in number to 6% of the number of special warrants sold pursuant to the private placement. Each broker special warrant will be exchangeable for one broker warrant. Each broker warrant can be exercised to purchase an additional common share at CA$1.51 per share and will have the same expiry term as the share purchase warrants. The units will be subject to a four month plus one day hold period. Endeavour will use its commercially reasonable efforts to prepare and file a preliminary prospectus and final prospectus in the Canadian offering jurisdictions as soon as possible after the closing of the private placement, and seek to obtain receipts within, respectively, 45 days and 60 days after closing. If Endeavour has not filed and obtained receipts for a final Prospectus within 60 days of the date of the closing of the private placement, the placees will be entitled to receive 1.1 Common Shares (in lieu of 1 Common Share) and 0.55 Warrants (in lieu of 0.5 Warrants) on the exercise of each Special Warrant.
The net proceeds of the financing will be added to working capital to fund the Company's operating and capital plans at its two producing silver mines in Mexico and to provide additional capital for possible acquisitions in 2009.
The offered securities will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons", as such term is defined in Regulation S under the U.S. Securities Act absent registration or an applicable exemption from registration requirements.
This news release shall not constitute an offer to sell or an offer to buy the securities in any jurisdiction.
Endeavour Silver Corp. (CA:EDR) (NYSE ALTERNEXT US: EXK) is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour's two operating mines, Guanacevi in Durango and the Guanajuato Project in State, coupled with the Company's aggressive acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of mid-tier primary silver producers.
ENDEAVOUR SILVER CORP.
Bradford Cooke, Chairman and CEO
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain statements contained herein regarding the Company and its operations constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include fluctuations in precious metal prices, unpredictable results of exploration activities, uncertainties inherent in the estimation of mineral reserves and resources, fluctuations in the costs of goods and services, problems associated with exploration and mining operations, changes in legal, social or political conditions in the jurisdictions where the Company operates, lack of appropriate funding and other risk factors, as discussed in the Company's filings with Canadian and American Securities regulatory agencies.
Resource and production goals and forecasts may be based on data insufficient to support them. Godfrey Walton, P.Geo. and/or Bradford Cooke, P.Geo. are the Qualified Persons for the Company as required by NI 43-101. The Company expressly disclaims any obligation to update any forward-looking statements other than as required by applicable securities legislation. We seek safe harbour.
The TSX Exchange has neither approved nor disapproved the contents of this news release.
Contacts:
Endeavour Silver Corp.
Hugh Clarke
(604) 685-9775 or Toll Free: 1-877-685-9775
(604) 685-9744 (FAX)
Email: hugh@edrsilver.com
Website: www.edrsilver.com
Tuesday, November 4, 2008
Endeavour Silver Third Quarter Financial Results to Be Released November 14, 2008, Conference Call Scheduled for November 17, 2008
VANCOUVER, BRITISH COLUMBIA, Nov 04, 2008 (MARKET WIRE via COMTEX) -- Endeavour Silver Corp. (EDR.TO) (NYSE-A: EXK)(DBFrankfurt:EJD) plans to release its third quarter financial results on Friday November 14, 2008, after 1:00 PM Pacific Time. A conference call to discuss the results will be held at 10:00 AM Pacific Time (1:00 PM Eastern Time) the following business day, Monday November 17.
To participate in the conference call, please dial the following:
- 1-800-396-7098 Canada and USA (Toll-free)
- 416-620-3447 Toronto area callers
- No pass code necessary
A replay of the conference call will be available until November 28, 2008 by dialing 1-800-408-3053 in Canada & USA (Toll-free) or 416-695-5800 in the Toronto area. The required pass code is 3274608.
A simultaneous webcast of the conference call will be posted on the home page of the company's website, www.edrsilver.com.
Endeavour Silver Corp. (EDR.TO) (NYSE-A: EXK)(DBFrankfurt:EJD) is a Canadian silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour's two operating mines, Guanacevi in Durango and Guanajuato in Guanajuato State, coupled with the Company's aggressive acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of top primary silver producers worldwide.
On Behalf of the Board of Directors,
ENDEAVOUR SILVER CORP.
Bradford J. Cooke, Chairman and CEO
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain statements contained herein regarding the Company and its operations constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include fluctuations in precious metal prices, unpredictable results of exploration activities, uncertainties inherent in the estimation of mineral reserves and resources, fluctuations in the costs of goods and services, problems associated with exploration and mining operations, changes in legal, social or political conditions in the jurisdictions where the Company operates, lack of appropriate funding and other risk factors, as discussed in the Company's filings with Canadian and American Securities regulatory agencies. Resource and production goals and forecasts may be based on data insufficient to support them. Godfrey Walton, P.Geo. and/or Bradford Cooke, P.Geo. are the Qualified Persons for the Company as required by NI 43-101. The Company expressly disclaims any obligation to update any forward-looking statements. We seek safe harbour.
The TSX Exchange has neither approved nor disapproved the contents of this news release.
Contacts:
Endeavour Silver Corp.
Hugh Clarke
(604) 685-9775 or Toll Free: 1-877-685-9775
(604) 685-9744 (FAX)
Email: hugh@edrsilver.com
Website: www.edrsilver.com
SOURCE: Endeavour Silver Corp.
mailto:hugh@edrsilver.com
Copyright 2008 Market Wire, All rights reserved.
To participate in the conference call, please dial the following:
- 1-800-396-7098 Canada and USA (Toll-free)
- 416-620-3447 Toronto area callers
- No pass code necessary
A replay of the conference call will be available until November 28, 2008 by dialing 1-800-408-3053 in Canada & USA (Toll-free) or 416-695-5800 in the Toronto area. The required pass code is 3274608.
A simultaneous webcast of the conference call will be posted on the home page of the company's website, www.edrsilver.com.
Endeavour Silver Corp. (EDR.TO) (NYSE-A: EXK)(DBFrankfurt:EJD) is a Canadian silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour's two operating mines, Guanacevi in Durango and Guanajuato in Guanajuato State, coupled with the Company's aggressive acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of top primary silver producers worldwide.
On Behalf of the Board of Directors,
ENDEAVOUR SILVER CORP.
Bradford J. Cooke, Chairman and CEO
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain statements contained herein regarding the Company and its operations constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include fluctuations in precious metal prices, unpredictable results of exploration activities, uncertainties inherent in the estimation of mineral reserves and resources, fluctuations in the costs of goods and services, problems associated with exploration and mining operations, changes in legal, social or political conditions in the jurisdictions where the Company operates, lack of appropriate funding and other risk factors, as discussed in the Company's filings with Canadian and American Securities regulatory agencies. Resource and production goals and forecasts may be based on data insufficient to support them. Godfrey Walton, P.Geo. and/or Bradford Cooke, P.Geo. are the Qualified Persons for the Company as required by NI 43-101. The Company expressly disclaims any obligation to update any forward-looking statements. We seek safe harbour.
The TSX Exchange has neither approved nor disapproved the contents of this news release.
Contacts:
Endeavour Silver Corp.
Hugh Clarke
(604) 685-9775 or Toll Free: 1-877-685-9775
(604) 685-9744 (FAX)
Email: hugh@edrsilver.com
Website: www.edrsilver.com
SOURCE: Endeavour Silver Corp.
mailto:hugh@edrsilver.com
Copyright 2008 Market Wire, All rights reserved.
Tuesday, October 14, 2008
Endeavour Silver Production Jumps as Forecast in 3rd Quarter, 2008
... Produces 625,924 oz Silver, up 21% Over Q2, 2008
New Alex Breccia Ore-body Brought into Production in Q3, 2008; Endeavour to Slow Production Growth in Q4, 2008 Due to Low Silver Price
VANCOUVER, BRITISH COLUMBIA, Oct 14, 2008 (MARKET WIRE via COMTEX) -- Endeavour Silver Corp. (TSX: EDR)(NYSE-A: EXK)(DBFrankfurt:EJD) announces that the Company's silver production jumped as forecast in the Third Quarter, 2008, totalling 625,924 oz silver, up 21% over Q2, 2008.
Gold production also rose in the 3rd Quarter, up 40% to 2,465 oz compared to Q2, 2008, resulting in silver equivalent production totalling 810,799 oz in Q3, 2008 (using a 75:1 silver:gold ratio).
In response to the recent sell-off of the spot silver price, Endeavour plans to slow its production growth in the Fourth Quarter, even though the 2008 capital programs of mine and plant upgrades have now been substantially completed at Endeavour's two operating silver mines in Mexico, the Guanacevi Mines in Durango State and the Guanajuato Mines in Guanajuato State.
Bradford Cooke, Chairman and CEO, stated, "Endeavour enjoyed another quarter of strong production growth at our two operating mines in Mexico thanks to the substantial completion of our 2008 capital upgrade programs and ongoing operational improvements under the guidance of David Howe, Endeavour's Vice President of Mexico Operations. Guanajuato Mines production in particular has outperformed our expectations so far this year and Guanacevi has also improved its performance."
"However, management has decided to slow our production growth in Q4, 2008 to be equal to or slightly greater than Q3, 2008, instead of the forecasted jump in quarterly production, because we are of the opinion that the spot silver price should rebound somewhat short term so there is no sense in pushing production growth at this time. This production growth slow-down in the 4th Quarter will likely result in Endeavour's silver production falling about 5% short of its 2.5 million oz production forecast for 2008. Endeavour should be in a good position, however, to capitalize on the next upward move in the silver price by once again accelerating its silver production growth at that time."
Mine output at Guanajuato ramped up from 100 tonnes per day in Q1, 2008 to 300 tpd in Q3, 2008 as planned, and it now exceeds 400 tonnes per day. Management now anticipates that the Guanajuato Mines will reach the 500 tpd plant capacity by year-end, well ahead of the original schedule. Silver production has more than tripled since the 1st quarter to 158,367 oz in Q3, 2008 and is forecast to continue rising in Q4, 2008 as the plant reaches its existing capacity. Click here for more info on Guanajuato.
Cash costs are now falling at Guanajuato due to the ramp-up of silver production. The high cash cost of $24.38 per oz silver reported for Q1, 2008 was the result of Endeavour maintaining a full work-force at the mine and plant to carry out non-capital rehabilitation work in addition to the Phase 2 mine and plant capital upgrade program while at the same time mine output was substantially reduced.
Cash costs in Q2, 2008 at Guanajuato dropped in half and further reductions in cash costs in Q3 and Q4, 2008 are anticipated due to higher silver production and better cost controls. Management is also currently evaluating sending the Guanajuato silver-gold concentrates to alternative smelters in order to reduce its smelting costs and enhance its silver-gold revenues.
Plant throughput at Guanacevi averaged around 700 tonnes per day in Q3, 2008 and is now forecast to ramp up to 800 tpd during the 4th Quarter, 2008. Silver production was up 12% to 467,557 oz at Guanacevi in Q3, 2008 and is forecast to rise again only marginally in the 4th Quarter due to the production growth slow-down. Both ore grades and silver/gold recoveries also showed improvements at Guanacevi in the 3rd
quarter.
Click here for more info on Guanacevi.
Endeavour brought its first new ore-body into production at Guanacevi in four years with the commencement of production from the Alex Breccia zone and the re-commissioning of the flotation circuit at the plant in Q3, 2008. Alex Breccia is a silver-lead-zinc ore-body hosted in the same Santa Cruz vein as the operating Porvenir Mine 2 km to the north.
The flotation circuit is currently producing a bulk concentrate (no payment for zinc, only lead and silver) but in Q4, a second flotation circuit will be re-commissioned to double flotation capacity up to 200 tonnes per day, producing two concentrates, lead-silver and zinc. As additional sources of sulphide ores are delineated for production (for example, Endeavour's recent discoveries in San Pedro area are of this type), the flotation circuit can be expanded as needed.
Endeavour Silver Corp. (TSX: EDR)(NYSE-A: EXK)(DBFrankfurt:EJD) is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour's two operating mines, Guanacevi in Durango State and Guanajuato in Guanajuato state, coupled with the Company's acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of top primary silver producers worldwide.
ENDEAVOUR SILVER CORP.
Bradford Cooke, Chairman and CEO
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain statements contained herein regarding the Company and its operations constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include fluctuations in precious metal prices, unpredictable results of exploration activities, uncertainties inherent in the estimation of mineral reserves and resources, fluctuations in the costs of goods and services, problems associated with exploration and mining operations, changes in legal, social or political conditions in the jurisdictions where the Company operates, lack of appropriate funding and other risk factors, as discussed in the Company's filings with Canadian and American Securities regulatory agencies. Resource and production goals and forecasts may be based on data insufficient to support them. Godfrey Walton, P.Geo. and/or Bradford Cooke, P.Geo. are the Qualified Persons for the Company as required by NI 43-101. The Company expressly disclaims any obligation to update any forward-looking statements. We seek safe harbour.
The TSX Exchange has neither approved nor disapproved the contents of this news release.
Contacts:
Endeavour Silver Corp.
Hugh Clarke
(604) 685-9775 or Toll Free: 1-877-685-9775
(604) 685-9744 (FAX)
Email: hugh@edrsilver.com
Website: edrsilver
SOURCE: Endeavour Silver Corp.
mailto:hugh@edrsilver.com
edrsilver
Copyright 2008 Market Wire, All rights reserved.
New Alex Breccia Ore-body Brought into Production in Q3, 2008; Endeavour to Slow Production Growth in Q4, 2008 Due to Low Silver Price
VANCOUVER, BRITISH COLUMBIA, Oct 14, 2008 (MARKET WIRE via COMTEX) -- Endeavour Silver Corp. (TSX: EDR)(NYSE-A: EXK)(DBFrankfurt:EJD) announces that the Company's silver production jumped as forecast in the Third Quarter, 2008, totalling 625,924 oz silver, up 21% over Q2, 2008.
Gold production also rose in the 3rd Quarter, up 40% to 2,465 oz compared to Q2, 2008, resulting in silver equivalent production totalling 810,799 oz in Q3, 2008 (using a 75:1 silver:gold ratio).
In response to the recent sell-off of the spot silver price, Endeavour plans to slow its production growth in the Fourth Quarter, even though the 2008 capital programs of mine and plant upgrades have now been substantially completed at Endeavour's two operating silver mines in Mexico, the Guanacevi Mines in Durango State and the Guanajuato Mines in Guanajuato State.
Bradford Cooke, Chairman and CEO, stated, "Endeavour enjoyed another quarter of strong production growth at our two operating mines in Mexico thanks to the substantial completion of our 2008 capital upgrade programs and ongoing operational improvements under the guidance of David Howe, Endeavour's Vice President of Mexico Operations. Guanajuato Mines production in particular has outperformed our expectations so far this year and Guanacevi has also improved its performance."
"However, management has decided to slow our production growth in Q4, 2008 to be equal to or slightly greater than Q3, 2008, instead of the forecasted jump in quarterly production, because we are of the opinion that the spot silver price should rebound somewhat short term so there is no sense in pushing production growth at this time. This production growth slow-down in the 4th Quarter will likely result in Endeavour's silver production falling about 5% short of its 2.5 million oz production forecast for 2008. Endeavour should be in a good position, however, to capitalize on the next upward move in the silver price by once again accelerating its silver production growth at that time."
Mine output at Guanajuato ramped up from 100 tonnes per day in Q1, 2008 to 300 tpd in Q3, 2008 as planned, and it now exceeds 400 tonnes per day. Management now anticipates that the Guanajuato Mines will reach the 500 tpd plant capacity by year-end, well ahead of the original schedule. Silver production has more than tripled since the 1st quarter to 158,367 oz in Q3, 2008 and is forecast to continue rising in Q4, 2008 as the plant reaches its existing capacity. Click here for more info on Guanajuato.
Cash costs are now falling at Guanajuato due to the ramp-up of silver production. The high cash cost of $24.38 per oz silver reported for Q1, 2008 was the result of Endeavour maintaining a full work-force at the mine and plant to carry out non-capital rehabilitation work in addition to the Phase 2 mine and plant capital upgrade program while at the same time mine output was substantially reduced.
Cash costs in Q2, 2008 at Guanajuato dropped in half and further reductions in cash costs in Q3 and Q4, 2008 are anticipated due to higher silver production and better cost controls. Management is also currently evaluating sending the Guanajuato silver-gold concentrates to alternative smelters in order to reduce its smelting costs and enhance its silver-gold revenues.
Plant throughput at Guanacevi averaged around 700 tonnes per day in Q3, 2008 and is now forecast to ramp up to 800 tpd during the 4th Quarter, 2008. Silver production was up 12% to 467,557 oz at Guanacevi in Q3, 2008 and is forecast to rise again only marginally in the 4th Quarter due to the production growth slow-down. Both ore grades and silver/gold recoveries also showed improvements at Guanacevi in the 3rd
quarter.
Click here for more info on Guanacevi.
Endeavour brought its first new ore-body into production at Guanacevi in four years with the commencement of production from the Alex Breccia zone and the re-commissioning of the flotation circuit at the plant in Q3, 2008. Alex Breccia is a silver-lead-zinc ore-body hosted in the same Santa Cruz vein as the operating Porvenir Mine 2 km to the north.
The flotation circuit is currently producing a bulk concentrate (no payment for zinc, only lead and silver) but in Q4, a second flotation circuit will be re-commissioned to double flotation capacity up to 200 tonnes per day, producing two concentrates, lead-silver and zinc. As additional sources of sulphide ores are delineated for production (for example, Endeavour's recent discoveries in San Pedro area are of this type), the flotation circuit can be expanded as needed.
Endeavour Silver Corp. (TSX: EDR)(NYSE-A: EXK)(DBFrankfurt:EJD) is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. The expansion programs now underway at Endeavour's two operating mines, Guanacevi in Durango State and Guanajuato in Guanajuato state, coupled with the Company's acquisition and exploration programs in Mexico should enable Endeavour to join the ranks of top primary silver producers worldwide.
ENDEAVOUR SILVER CORP.
Bradford Cooke, Chairman and CEO
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain statements contained herein regarding the Company and its operations constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include fluctuations in precious metal prices, unpredictable results of exploration activities, uncertainties inherent in the estimation of mineral reserves and resources, fluctuations in the costs of goods and services, problems associated with exploration and mining operations, changes in legal, social or political conditions in the jurisdictions where the Company operates, lack of appropriate funding and other risk factors, as discussed in the Company's filings with Canadian and American Securities regulatory agencies. Resource and production goals and forecasts may be based on data insufficient to support them. Godfrey Walton, P.Geo. and/or Bradford Cooke, P.Geo. are the Qualified Persons for the Company as required by NI 43-101. The Company expressly disclaims any obligation to update any forward-looking statements. We seek safe harbour.
The TSX Exchange has neither approved nor disapproved the contents of this news release.
Contacts:
Endeavour Silver Corp.
Hugh Clarke
(604) 685-9775 or Toll Free: 1-877-685-9775
(604) 685-9744 (FAX)
Email: hugh@edrsilver.com
Website: edrsilver
SOURCE: Endeavour Silver Corp.
mailto:hugh@edrsilver.com
edrsilver
Copyright 2008 Market Wire, All rights reserved.
Thursday, April 3, 2008
Endeavour Silver Announces Conference Call Time and Date for 2007 Year-End Financial Results
Endeavor Silver (Toronto: EDR.TO) rescheduled its 2007 Year-End Financial Results Conference Call in order to give shareholders some extra time to look over the 2007 financial statements, said the company.
As a result, the new call will take place on Monday, April 7, 2008, at 2: PM EST.
In their press release, the company gave these numbers to access the call:
- 1-800-732-0232 Canada & USA (Toll-Free)
- 416-644-3415 Toronto area callers
- No pass code necessary
They also said if you can't access the call at that time, shareholders have until April 21, 2008 to listen to a replay by dialing 1-877-289-8525 toll free in Canada or the U.S. If you live in the Toronto area you can dil 416-640-1917. The pass code for those numbers will be 21268130 followed by the No. key.
There will also be a simultaneous webcast of the conference call will be posted on the home page of the company's website, www.edrsilver.com.
As a result, the new call will take place on Monday, April 7, 2008, at 2: PM EST.
In their press release, the company gave these numbers to access the call:
- 1-800-732-0232 Canada & USA (Toll-Free)
- 416-644-3415 Toronto area callers
- No pass code necessary
They also said if you can't access the call at that time, shareholders have until April 21, 2008 to listen to a replay by dialing 1-877-289-8525 toll free in Canada or the U.S. If you live in the Toronto area you can dil 416-640-1917. The pass code for those numbers will be 21268130 followed by the No. key.
There will also be a simultaneous webcast of the conference call will be posted on the home page of the company's website, www.edrsilver.com.
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