Maybe I am missing somehting., but I am buying it here seems like a good company. At this point and this low. I don't care who selling this. I just bought already,but what am I missing about for a bad reason not to buy it here and now?
Endeavour Silver Corp. (EXK
1-14-2013 announces that production rose for the 8th consecutive year in 2012. Consolidated silver and gold production from the Company's three operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Bolanitos and newly acquired El Cubo Mines in Guanajuato State, established new records for both annual and quarterly production at the end of the Fourth Quarter, 2012.
Silver production rose 20% to 4,485,426 ounces (oz) silver and gold output was up 77% to 38,687 oz compared to 2011. Silver equivalent production escalated 33% to 6.4 million oz (50: 1 silver: gold ratio). As a result, Endeavour was 2% below its 4.6 million oz silver production guidance and 1% above its 38,000 oz gold production guidance for the year.
Annual revenues were up 63% to US$208.1 million and Fourth Quarter, 2012 revenues were up 281% to US$66.7 million due to higher metal production and sales plus higher gold prices, offset by lower silver prices in 2012. In the 4th Quarter, 2012, silver production rose 10% to 1,235,026 oz and gold production was up 83% to 12,917 oz compared to the 4th Quarter, 2011.
Bradford Cooke, CEO of Endeavour Silver (EXK
), commented, "Our operations team delivered another solid year of growth in 2012. Both the 20% expansion program to 1200 tpd at Guanacevi and the 60% expansion program to 1600 tpd at Bolanitos were completed on time and budget. We were also honoured to become the first mining company awarded a Certificate of Health from the Durango State Secretary of Health thanks to the success of our employee and community health programs at Guanacevi."
"In Q3, Endeavour acquired the El Cubo mine and initiated a 12 month capital rebuilding program of the mine, plant and surface infrastructure and a 2 year operational turn-around program, both of which were showing positive results by year-end. This year is shaping up to be another good year of growth for the Company with the initial focus on El Cubo. We anticipate releasing our 2013 outlook and production guidance before the end of January