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Did you miss AXU under $5? Another Silver up and coming to $5+ soon EXK



October 13, 2010 – Comments (0) | RELATED TICKERS: AXU , EXK , PAAS

Godfrey Walton, President and COO, stated, "Endeavour delivered yet another strong quarter of silver and gold production in Q3, 2010, comparable to our production in Q2, 2010, as forecast. With our 2010 mine and plant expansion programs now complete or nearing completion, we expect production to rise again in Q4, 2010. The Company is well on track to beat our 2010 production forecast of 3.1 million oz silver and 15,000 oz gold."

Consolidated plant throughput and gold grades were up slightly over Q2, 2010 thanks to improved performance at Guanajuato; however, consolidated silver and gold recoveries were down slightly as a result of introducing new ores at both the Guanacevi and Guanajuato plants. Work is now underway to try and bring metal recoveries back up to previous levels.

Capital projects now complete at Guanacevi include the new Porvenir Cuatro mine access ramp and ventilation raise, and the new Santa Cruz mine access ramp. Both ramps intersected their respective ore zones ahead of schedule and production is now underway. As a result, the Company has built up a 90,000 tonne ore stockpile in anticipation of operating the plant at its new 1,000 tpd capacity. At the Guanacevi plant, the new 2,400 tpd crushing circuit and various piping, electrical and automation projects are now installed, and the counter-current decantation, Merrill Crowe and tailings facilities have been refurbished and/or expanded.

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