Lundin says hold Endeavour Silver
2014-05-13 16:13 ET - In the News
Brien Lundin, in the May, 2014, edition of the Gold Newsletter, says hold Endeavour Silver Corp., recently $4.93. Mr. Lundin said buy Endeavour nine times between August, 2005, and October, 2013, at prices ranging from $1.62 to $9.43. Assuming a $1,000 investment for each of the nine buys, the $9,000 position is now worth $13,069. On March 31, a rock fall at Endeavour's Porvenir Cuatro mine in Durango state, Mexico, resulted in the death of a miner. The company closed the mine immediately and is currently working with Mexican authorities to complete an investigation into what happened. Then, five days later, a rock fall at the company's El Cubo mine in Guanajuato state, Mexico, killed another employee. Mr. Lundin says after the second accident, management decided to conduct a full mine safety retraining of its employees at all three of its mines in Mexico. The newsletter editor then talks about the company's production for the first quarter, noting silver production increased 27 per cent to 1.9 million ounces compared with the first quarter in 2013. Mr. Lundin says the increase was the result of higher grades and recoveries at the Guanacevi and Bolanitos zones on the Porvenir Cuatro mine.
