Endeavor's 4th quarter 2010 results are out
Endeavor released their 4th quarter earnings from 2010 yeasterday and it looks great. So great, Mr. Market is trying to ground and pound our respective silver miner down 4.7%...no love I see. And Endeavor is killing it!!!
Here are some highlights for those who don't want to click on the link above...
Highlights of fiscal year 2010 compared to 2009
Net Earnings improved to $7.1 million ($0.11 per share) from a loss of $1.9 million Operating cash-flow jumped 167% to $32.7 million Revenues increased 70% to $86.5 million Realized silver price rose 27% to $19.62 per oz sold Cash operating costs fell 5% to $5.71 per oz silver produced, net of by-product gold credits Year-end working capital of $102 million, with cash and short-term investments of $88 million Silver production increased 26% to 3.3 million oz Gold production rose 33% to 17,713 oz Silver and equivalents production escalated 20% to 4.2 million oz (at a 50:1 silver:gold ratio) Silver proven and probable reserves decreased 19% to 13.4 million oz Silver indicated resources up 16% to 27.4 million oz Silver inferred resource up 62% to 29.7 million oz
Highlights of Fourth Quarter 2010 (Compared to Fourth Quarter 2009)
Net Earnings increased 81% to $5.6 million ($0.09 per share) Operating cash-flow jumped 107% to $21.5 million Revenues climbed 18% to $28.5 million Realized silver price averaged $24.16 per oz sold Cash operating costs fell 5% to $4.72 per oz silver produced, net of by-product gold credits Silver production increased 15% to 895,931 oz Gold production rose 6% to 4,871 oz Silver and equivalents production escalated 13% to 1.14 million oz
Guidance for 2011
Silver production forecast of 3.7 million oz Gold production forecast of 19,000 oz Silver and equivalents production forecast of 4.7 million oz Cash cost forecast of less than $5.70 per oz of silver produced, net of by-product gold credits Capital cost forecast of $36.7 million and exploration budget of $9.2 million Revenue forecast of $113.9 million assuming $24 silver and $1,320 gold