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Endeavour Silver Corp. Message Board

  • chiaveuno chiaveuno Mar 8, 2011 1:42 PM Flag

    2010 Reserve Dip - Article

    Does this article differ from what the company reported about their reserves recently?

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    • It's not about the reserves. No one really cares about the reserves. Look at all the silver miners today and yesterday. Same pattern. Silver mining stocks are resting after a good run up. Let the "smart" money cover their shorts, let the weak hands fold. EXK will soar - just wait for it... wait for it...

      • 1 Reply to snavillus2004
      • You are right........., look at the silver miner patterns over the last couple days. Silver Wheaton down today, PAAS down almost 5 percent identical to EXK and GPL, hold on to these shares, the shorts will cover and next week, maybe this week, you will be wishing u had the nerve to buy more shares under ten dollars, this might be the last chance to do that EVER.......... don't live minute to minute in this market, they will shake your shares lose, and make u part with them........


      Your article looks sketchy. So do you. I have my doubts. See above article and recent statements from the company.

    • Endeavour's reserves dipped by year-end as a result of mine production exceeding forecast targets and mine development falling behind schedule. Notwithstanding the decrease in reserves the Company's Indicated Resources gained 16% to 27.4 million oz. and Inferred Resources increased by 62% to 29.7 million oz. In addition, the Company plans to accelerate mine development this year in order to once again expand the reserves in 2011. The reserve and resource highlights are as follows:

      2010 Reserve/Resource Highlights

      Silver Proven and Probable Reserves down 19% to 13.4 million ounces (oz); Guanacevi 12.0 million oz and Guanajuato 1.4 million oz
      Gold Proven and Probable Reserves down 9% to 40,000 oz; Guanacevi 22,000 oz and Guanajuato 18,000 oz
      Silver Equivalent Proven and Probable Reserves down 18% to 15.9 million oz; Guanacevi 13.4 million oz and Guanajuato 2.5 million oz

      Silver Indicated Resources up 16% to 27.4 million oz; Guanacevi 17.2 million oz, Guanajuato 7.6 million oz and Parral 2.6 million oz
      Gold Indicated Resources up 53% to 182,000 oz; Guanacevi 34,000 oz, Guanajuato 101,00 oz and Parral 47,000 oz
      Silver Equivalent Indicated Resources up 19% to 37.3 million oz; Guanacevi 19.2 million oz, Guanajuato 13.1 million oz and Parral 5.0 million oz

      Silver Inferred Resources up 62% to 29.7 million oz; Guanacevi 14.5 million oz, Guanajuato 7.3 million oz, Parral 2.7 million oz and Arroyo Seco 5.2 million oz
      Gold Inferred Resources up 52% to 169,000 oz; Guanacevi 30,000 oz, Guanajuato 100,000 oz, Parral 37,000 oz, Arroyo Seco 2,000 oz
      Silver Equivalent Inferred Resources up 52% to 38.9 million oz; Guanacevi 16.3 million oz, Guanajuato 12.8 million oz, Parral 4.5 million oz, Arroyo Seco 5.3 million oz
      Mineral resources are exclusive of the mineral reserves
      Proven Reserves are determined as being with 10 meters of development while Probable reserves are a further 15 meters. In both cases mine plans have been developed on the reserves.
      Mine plans are developed on the Reserves and Indicated Resources but the Resources are discounted in the mine plan.
      Mineral reserves have demonstrated economic viability whereas mineral resources do not
      2009 silver equivalents based on 65:1 silver:gold ratio, base metals not included
      2010 silver equivalents based on 50:1 silver:gold ratio for exploration and 65:1 for the mines, base metals not included
      All assumptions used are listed at the bottom of the reserve and resource summary table

    • The company stated reserves were down,not good. The also stated that indicated and inferred resources were up which is ok but measured resourses up would have been so much better. Heres a to better explain.

    • They didn't thoroughly read the company's press release.
      Proved reserves did decrease but probable and inferred reserves skyrocketed.
      Remember they are both a producer and developer.

    • Nice find and certainly a cause for concern!

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