Making a profit in the precious metals world relies on many factors. Commodity price, cost of getting the metal out of the ground and who is buying the metal. This last thought may well lead to solid profits in the silver markets. Some might suggest that there is a certain manipulation taking place and that regulators may well put a stop to it. If this does occur, silver prices could float quite a bit higher. This thought is but speculation at this point, but if it were to occur, large profits would not be far behind.
Endeavour Silver Corp., a mining company engaged in the exploration, discovery, extraction and exploitation of base minerals, operates primarily in the Mexican silver sector. The company has been reporting solid silver and related gold results.
In past posts regarding this company, it was put forward that prospects for purchase and increased output were more than likely. This has played true to form with the company posting record results and new relationships with like companies of the same stature. In its most recent NI 43-101 filing, the company indicates that it has increased reserves for the fifth consecutive year. For the most recent reporting period, proven and probable silver reserves were increased by 113%, or 16.6 million oz., for the company’s two underground mines. Gold also followed closely behind with proven and probable reserves of 44,000 oz., or an 87% increase.
Although the company has been finding tremendous success at its two primary sites, it is not standing still in terms of growing organically and from the possibility of acquiring related properties. From all appearances the company’s technical staff has this particular region of Mexico assessed for reliable gold and silver prospects with designs on those companies that may hold leases. From all signs, Endeavour Silver Corp. is a company to watch very closely.