Burkina Faso, Brazil, Ghana & H1N1

Ticker Trax�:A Stockhouse Exclusive
Thursday, September 24, 2009
By Thom Calandra -- TickerTrax.com

Endeavour Financial (TSX: T.EDV)'s Neil Woodyer held the merchant bank's call today to explain its backing of Etruscan Resources (TSX: T.EET), a gold miner in Burkina Faso, West Africa. Etruscan also has properties in Ghana and elsewhere. The company is a shrinking act, owing to its poor relations with banks, a more or less idiotic gold hedging strategy and its evaporating capital.

"The bank has Etruscan in a corner," Endeavour's founder and Monaco-hopping Mr. Woodyer said. Solution? A $48 million debt restructuring plan. As we recall, Endeavour Financial, which is a Planetary Prospect of this service, had emp loyed consultant and successful banker Frank Giustra of his new Fiore Capital to raise $400 million or so, package it into a limited partnership with Endeavour as managing partner, and then cobble together distressed gold miners. Mr. Giustra, who has my Ticker Trax support in his brilliantly conceived if sometimes mysterious ventures, found the Middle East and other areas of potent capital were not yet willing to push the gold money button. FG was on the call, which is recorded and available here. He said a few words. I won't go into all the details - they are available in an accompanying slide show at the conference call link.

Endeavour will be sinking $43 million into Etruscan's common shares at a nice di scount to the current price. Endeavour Financial will appoint board members, including FG and Mr. Woodyer. The new team will attempt to unwind the gold hedge contracts, patch relations with bankers and kick-start again what looks like a promising and producing gold mine in the Youga Gold Belt of  Burkina Faso.

For more information please contact

Keith Schaefer
Vanguard Shareholder Solutions
Tel: 604 608 0824
Toll Free: 1 866 341 4111

www.endeavourfinancial.com