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Jbay76 (< 20)

Endeavor rocks first quarter



April 11, 2011 – Comments (3) | RELATED TICKERS: EXK , SIL

Well, it must be a trend, kind of like follow the leader or indian running or something bt top notch miners are releasing epic quarterly reports.  Last week it was Gammon Gold, today its Endeavor Silver and their 2011 Q1 report.  Endeavor silver production was up 17% from the same time last year and their gold production was up 33% from the same time last year.  Add to that increases in the price for both PM's, and we're talking stellar quarter.  In fact,a quick breakdown of the data is here from the quarterly report.

Production Highlights of First Quarter 2011 (Compared to First Quarter 2010)

Silver production increased 17% to 900,133 oz Gold production rose 33% to 5,008 oz Silver and equivalents production escalated 20% to 1.1 million oz (at a 40:1 silver:gold ratio)

Revenues jumped 95% to $35.4 million Realized silver price rose 96% to $33.18 per oz sold (4.1% above average spot price for Q10) Realized gold price rose 28% to $1,413 per oz sold (1.9% above average spot price for Q10)

I suggest reading the report if you are in need of a pick-me-upper....good times ahead!


3 Comments – Post Your Own

#1) On April 11, 2011 at 1:54 PM, Jbay76 (< 20) wrote:

Apparently this is not that great of news as Mr. Market has EXK down 5%...tough love out there!

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#2) On April 11, 2011 at 2:13 PM, rfaramir (28.60) wrote:

EXK was up +26.9% in just the last week. A small pull-back today with a slight dip in the silver price is not unexpected. Hold tight!

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#3) On April 11, 2011 at 3:32 PM, Jbay76 (< 20) wrote:

Oh, I'm holding on for along time to come, and I suspect that the 7.1 earthquake in Japan is the reason for the pullback.  Eversince their 9.1, ever earthquake they havehad since resulted in a 2 day pullback.  I just think it ironic that such good news liek this is rewarded with a drop in price.  In fact, it's a sad irony becuase I have no more money to allocate.

And yes, last weeks run was nice to see and has not yet deteriorated those gains

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