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Endeavour Silver Corp.

Publié le 16 mai 2009

Reports Financial and Operating Results for Q1, 2009; Silver Production Up 13%, Cash Costs Down 24%

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Thursday, May 14, 2009
 

News Release
 

Endeavour Silver Reports Financial and Operating Results for Q1, 2009; Silver Production Up 13%, Cash Costs Down 24% Compared to Q1, 2008


Vancouver, Canada -- May 13, 2009 - Endeavour Silver Corp. ("Endeavour" or the "Company") (EDR: TSX, EJD: DB-Frankfurt and EXK: NYSE-Amex) announced today its' financial and operating results and unaudited financial statements for the First Quarter, 2009. Endeavour owns and operates two high-grade, underground, silver-gold mines in Mexico, the Guanacevi Mines in Durango State and the Guanajuato Mines in Guanajuato State.

The financial results are expressed in US dollars ("US$") and are based on Canadian generally accepted accounting practices (Canadian "GAAP"). For a more detailed review, shareholders are referred to the Q1, 2009 Financial Statements and Management Discussion and Analysis ("MD&A") posted on the Company's website,
www.edrsilver.com.

First Quarter, 2009 Highlights (Compared to Q1, 2008)

  • Silver production rose 13% to 572,785 oz
  • Gold production jumped 63% to 2,335 oz
  • Silver-equivalent production up 22% to 736,235 oz (70:1 silver:gold ratio and no base metals)
  • Mineral sales fell 21% to $8.5 million
  • Mine operating cash-flow dropped 37% to $2.6 million
  • Cash costs reduced 24% to $7.56 per oz silver produced
  • Closed $11 million convertible redeemable debenture financing
  • Total silver-equivalent mineral inventory rose 24% to 62.3 million oz (assuming 75:1 silver:gold ratio based on gold/silver prices in December 2008, not including any base metals as equivalents) and proven and probable reserves now total 7.8 million ounces (oz) silver (9.6 million oz silver-equivalents), indicated resources increased to 19.5 million oz silver (26.1 million oz silver-equivalents) and inferred resources climbed to 19.5 million oz silver (26.6 million oz silver-equivalents)
  • Commenced 2009 capital and exploration projects at Guanacevi and Guanajuato
    • Mine Development Completed: 1,248 meters at Guanacevi, 583 meters at Guanajuato
    • Guanacevi Access Ramps Underway at Alex Breccia, Porvenir Dos and Santa Cruz
    • Guanacevi Ventilation Shaft Completed and Fan Installation Underway
    • Guanacevi Pump Station Upgraded and Further Modifications are Underway
    • Guanacevi Tailings Expansion Now Underway
    • Soil Geochemical Sample Grids Completed at San Pedro and Bolanitos
    • Diamond drilling permits pending for Q2 start-up

Bradford Cooke, Chairman and CEO, commented, "Endeavour enjoyed another strong quarter of silver production in Q1, 2009 compared to Q1, 2008. We put the brakes on our production growth late last year due to the low silver price and as a result, silver production is down from Q4, 2008. However, the silver price rebounded in the First Quarter, and thanks to our recent US$11 million financing, new capital projects are now underway at both mines that should facilitate a +20% expansion of silver production this year to the 2.7-2.9 million oz range."

"Cash costs were also sharply lower in Q1, 2009 compared to Q1, 2008 as a result of the plant upgrade programs that facilitated higher tonnage throughputs and improved silver recoveries, and the depreciation of the Mexican peso relative to the US dollar. Notwithstanding the recent five day temporary shut-down to comply with the Presidential decree to restrict the spread of the H1N1 swine influenza virus, management expects Q2, 2009 silver production and cash costs to be comparable with Q1, 2009 as previously forecast."

Financial Results (see Consolidated Statement of Operations below)

Mineral Sales totalled $8.5 million in Q1, 2009, down 21% (Q1, 2008 - $10.7 million) due to lower silver prices and higher finished goods. Costs of Sales amounted to $5.9 million, down 11% (Q1, 2008 - $6.6 million) due to lower cash costs, so Mine Operating Cash Flows also declined 37% to $2.6 million (Q1, 2008 - $4.2 million) because of the lower prices and delayed revenue from accumulation of finished goods.

With Depreciation and Depletion rising to $2.3 million (Q1, 2008 - $1.5 million) due to lower ore reserves, the Company realized lower Mine Operating Earnings of $0.3 million (Q1, 2008 - $2.6 million). The Operating Loss for the three months ended March 31, 2009 declined to $1.2 million (Q1, 2008 - $1.8 million) after Exploration costs of $0.2 million (Q1, 2008 - $2.0 million), General and Administrative costs of $1.2 million (Q1, 2008 - $1.4 million), Accretion of Convertible Debentures of $0.1 (Q1, 2008 - Nil) and Stock Based Compensation costs of $0.1 million (Q1, 2008 - $1.0 million).

The Loss Before Taxes for the three months ended March 31, 2009 also increased to $1.9 million (Q1, 2008 - $1.4 million) after Foreign Exchange Loss of $0.9 million (Q1, 2008 - $0.5 million), and Investment and Other Income of $0.2 million (Q1, 2008 - $0.1 million). During the First Quarter, 2008 there was also a realized Gain on Marketable Securities of $0.8 million. The Company incurred a lower Net Loss in Q1, 2009 of $1.8 million (Q1, 2008 - $2.4) after an Income Tax recovery of $0.1 million (Q1, 2008 - Income Tax provision of $0.6 million).

Cash costs were $7.56 per oz silver produced in Q1, 2009, down 24% (Q1, 2008 - $10.01 per oz) thanks to higher tonnage throughputs at Guanajuato as a result of the rehabilitation and re-opening of the four main mine shafts in Q2, 2008, higher metal recoveries at Guanacevi as a result of the numerous plant upgrade capital projects completed last year, and the depreciation of the Mexican peso. Endeavour reports its cash costs according to the Gold Institute cash cost reporting guidelines so they include offsite costs such as transportation, smelting and refining costs.

The company made capital investments totalling $2.5 million in property, plant and equipment during the First Quarter, 2009. Approximately $2.0 million was spent at Guanacevi, including $1.6 million on mine development, $0.3 million on mine equipment and $0.1 million office equipment. Some $0.5 million was spent at Guanajuato, including $0.2 million on mine development and $0.3 million on mine equipment.

At March 31, 2009, Company held cash and cash equivalents of $7.8 million and working capital of $15.7 million.

Operating Results (see Consolidated Table of Operations below)

Silver production in Q1, 2009 was 572,785 ounces, an increase of 13% compared to 504,669 ounces in the first quarter of 2008. Plant throughputs in Q1, 2009 totalled 85,731 tonnes (up 10%) at average grades of 271 grams per tonne (gpt) silver (down 11%) and 1.02 gpt gold (up 44%) as compared to 78,157 tonnes at average grades of 304 gpt silver and 0.71 gpt gold during Q1, 2008 and plant recoveries in Q1, 2009 were 81.8% for silver (up 24%) and 88.4% for gold (up 11%).

The increased tonnage throughputs, lower silver grades and higher gold grades in Q1, 2009 are all attributable to Guanajuato operating near capacity during the quarter (up 265% to 456 tonnes per day), offset by a decrease in Guanacevi's output (down 26% to 567 tonnes per day) as stockpiles were depleted and more personnel and equipment were allocated to mine development. The Guanajuato mines have lower silver grades but significantly higher gold grades than the Guanacevi mines. Guanacevi production was also compounded by higher than expected water inflows that has reduced the current mine output as the access ramp progresses deeper below the water table. Pumping and electrical capacities are both in the process of being expanded as part of the 2009 mine development capital program.

The increased silver and gold recoveries (silver up 24% to 81.8%) reflect the plant upgrades and lower manganese ore-types now being processed at Guanacevi, and the higher throughputs of higher recovery ore-types at Guanajuato.

The Company also changed how it reports its silver production from Guanajuato in Q1, 2009. Prior to December, 2008, the Company recovered gold and silver at Guanajuato into bulk sulfide concentrates and shipped the concentrates to the Met-Mex ("Penoles") refinery in Torreon, Mexico for treatment. Guanajuato production was previously reported as silver-in-concentrate.

However, Penoles significantly increased their smelting charges, deductions and penalties mid-2008. Therefore, the Company evaluated its process alternatives for the Guanajuato concentrates and determined that it could materially reduce its costs by shipping the concentrates to the Guanacevi plant for treatment to produce dore silver-gold bars. Smelters typically pay more than 99% for the silver and gold in dore as compared to 95% in concentrates, but re-processing the concentrates at Guanacevi only recovers 88% of the silver and gold in concentrate, resulting in slightly lower production, but significantly lower costs, overall improving the Company's gross margin. Therefore, all Guanajuato production is now reported as silver in dore, similar to the Guanacevi production.

Q2, 2009 Outlook

In Q2, 2009, Endeavour expects silver production and cash costs to be comparable with Q1, 2009 as previously forecast.

The 2009 mine development capital program is well on track to bring both the new Alex Breccia mine at Guanacevi and the new Lucero vein at Guanajuato into full production by the end of Q2, 2009. Furthermore, the new Porvenir Dos mine at Guanacevi should be ready for production by the end of Q3, 2009, thereby facilitating a jump in silver production in Q3/Q4 compared to Q1/Q2. Increased production from the San Jose vein which has split into two veins will start production in Q2 on one split and in Q3 on the other split.

Exploration drilling will get underway in the San Pedro area of Guanacevi and the Lucero area of Guanajuato during the Second Quarter, 2009 in order to better define and expand these new silver-gold discoveries.

In Guanacevi, drilling proposed for the San Pedro area will test both high grade veins as well as moderate grade mantos and one larger stock-work zone of silver-lead-zinc mineralization, all within an area measuring more than 1.5 kilometers (0.9 miles) in length and 500 meters (1,600 feet) across.

In Guanajuato, drilling will try to extend the Bolanitos, San Jose and Lucero vein mineralization to the south where it still remains open. Previous drilling highlights include intervals of 5.54 grams per tonne gold and 166 gpt silver over 5.80 meters (19 feet), including 11.45 gpt gold and 239 gpt silver over 1.90 meters (6 feet) on the Bolanitos vein.

Endeavour Silver Corp. (EDR: TSX, EXK: NYSE-Amex, EJD: DB-Frankfurt) is a small-cap silver mining company focused on the growth of its silver production, reserves and resources in Mexico. Since start-up in 2004, Endeavour has posted four consecutive years of aggressive silver production and resource growth. The organic expansion programs now underway at Endeavour's two operating silver mines in Mexico combined with its strategic acquisition program should help Endeavour achieve its goal to become the next premier mid-tier primary silver producer.

ENDEAVOUR SILVER CORP.

BRADFORD COOKE,
Chairman and CEO


For more information, please contact Hugh Clarke at Toll free: 877-685-9775, tel: (604) 685-9775, fax: (604) 685-9744, email hugh@edrsilver.com or visit our website, www.edrsilver.com. The TSX Exchange has neither approved nor disapproved the contents of this news release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States private securities litigation reform act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include, but are not limited to, statements regarding Endeavour's anticipated performance in 2009, including silver and gold production, timing and expenditures to develop new silver mines and mineralized zones, silver and gold grades and recoveries, cash costs per ounce, capital expenditures and sustaining capital and the use of proceeds from the Company's recent financing. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.

Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others: fluctuations in the prices of silver and gold, fluctuations in the currency markets (particularly the Mexican peso, Canadian dollar and U.S. dollar); changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected geological conditions, pressures, cave-ins and flooding); inadequate insurance, or inability to obtain insurance; availability of and costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, diminishing quantities or grades of mineral reserves as properties are mined; the ability to successfully integrate acquisitions; risks in obtaining necessary licenses and permits, and challenges to the company's title to properties; as well as those factors described in the section "risk factors" contained in the Company's most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.





ENDEAVOUR SILVER CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS)
(Unaudited- Prepared by Management)
(expressed in thousands of US dollars, except for shares and per share
amounts)


--------------------------------------------------------------------------
������������������������������������������������������ Three Months Ended
��������������������������������������������������� March 31,���� March 31,
��������������������������������������������������� ����2009��������� 2008
--------------------------------------------------------------------------
 
 
Sales������������������������������������������� $���� 8,487�� $��� 10,729
 
 
Cost of sales����������������������������������������� 5,883�������� 6,567
Depreciation and depletion���������������������������� 2,290�������� 1,505
Exploration��������������������������������������������� 157�������� 2,083
General and administrative���������������������������� 1,090�������� 1,378
Accretion of convertible debentures��������������������� 147������������ -
Stock-based compensation��������������������������������� 83�������� 1,030
--------------------------------------------------------------------------
Earnings (loss)�������������������������������������� (1,163)���� ��(1,834)
 
 
Foreign exchange gain (loss)��������������������������� (915)�������� (462)
Realized gain (loss) on marketable securities������������� -���������� 743
Gain on convertible debentures redeemable option���������� -������������ -
Investment and other income����������������������������� 189���������� 143
--------------------------------------------------------------------------
 
 
Loss before taxes and other items�������������������� (1,889)������ (1,410)
--------------------------------------------------------------------------
Income tax recovery (provision)������������������������� 149��������� (601)
--------------------------------------------------------------------------
Net loss for the period������������������������������ (1,740)������ (2,011)
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
 
Other comprehensive income, net of tax
 Unrealized gain (loss) on marketable securities���������� -���� ��������3
 Reclassification adjustment for loss
(gain) included in net income��������������������������� -��������� (416)
--------------------------------------------------------------------------
�������������������������������������������������������� ��-��������� (413)
--------------------------------------------------------------------------
Comprehensive income (loss) for the period����������� (1,740)������ (2,424)
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
 
Basic and diluted loss per share
 based on net loss�������������������������������� $�� (0.03)$���� (0.04)
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
 
Weighted average number of shares outstanding���� 50,080,632��� 48,995,948
 
 
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
 
 
Comparative Table of Consolidated Mine Operations
--------------------------------------------------------------------------
��������������������������������������������������������������������� Cash
���������� ������Plant��� Ore GradesRecovered OuncesRecoveries��� Cost
���������������� T'put�� -------------------------------------------
��������������� ------���� Ag���� Au�������� Ag���� Au��� Ag��� Au�� $ per
Period��������� Tonnes�� (gpt)(gpt)���� ��(oz)�� (oz)�� (%)�� (%)���� oz
--------------------------------------------------------------------------
Production 2007 Year:
 
 
Q1, 2007������� 47,781��� 427�� 0.88��� 490,9861,02074.875.1��� 5.45
Q2, 2007������� 58,060��� 290�� 0.99��� 430,2481,48174.876.4��� 9.67
Q3, 2007������� 94,469��� 281�� 0.80��� 577,3841,80467.874.4�� 10.64
Q4, 2007������� 91,251��� 319�� 0.85��� 636,8662,12268.080.4�� 11.09
--------------------------------------------------------------------------
Total��������� 291,561��� 319�� 0.872,135,4846,42770.476.8��� 9.38
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Production 2008 Year:
 
 
Q1, 2008��� ����78,157��� 304�� 0.71��� 504,6691,43366.279.8�� 10.01
Q2, 2008������� 86,391��� 257�� 0.77��� 517,0771,70572.883.0��� 9.62
Q3, 2008������� 96,721��� 270�� 0.93��� 625,0942,46575.484.9��� 9.55
Q4, 2008������� 90,927��� 288�� 0.98��� 696,0752,41682.288.4��� 7.43
--------------------------------------------------------------------------
Total��������� 352,196��� 279�� 0.852,342,9158,01974.584.2��� 9.03
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Production 2009 Year:
 
 
Q1, 2009������� 85,731��� 271�� 1.02��� 572,7852,33581.888.4��� 7.56
--------------------------------------------------------------------------
YTD 2009������� 85,731��� 271�� 1.02��� 572,7852,33581.888.4��� 7.56
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
 
--------------------------------------------------------------------------
Q1, 2009 :
 Q1, 2008���������� 10%�� -11%��� 44%������� 13%��� 63%�� 24%�� 11%��� -24%
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
 
--------------------------------------------------------------------------
Q1, 2009 :
 Q4, 2008���������� -6%��� -6%���� 4%������ -18%��� -3%��� 0%��� 0%����� 2%
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
 
 
Comparative Table of Guanacevi Mine Operations
--------------------------------------------------------------------------
���������������� �����������������������������������������������������Cash
���������������� Plant��� Ore GradesRecovered OuncesRecoveries��� Cost
���������������� T'put�� -------------------------------------------
��������������� ------���� Ag���� Au�������� Ag ����Au��� Ag��� Au�� $ per
Period��������� Tonnes�� (gpt)(gpt)������ (oz)�� (oz)�� (%)�� (%)���� oz
--------------------------------------------------------------------------
Production 2007 Year:
 
 
Q1, 2007������� 47,781��� 427�� 0.88��� 490,9861,020 74.875.1��� 5.45
Q2, 2007������� 40,749��� 377�� 0.72��� 382,377��� 82475.976.4��� 9.86
Q3, 2007������� 68,084��� 342�� 0.61��� 491,643��� 98765.874.5�� 10.31
Q4, 2007������� 69,681��� 370�� 0.65��� 542,7891,12665.476.9��� 7.45
--------------------------------------------------------------------------
Total��������� 226,295��� 375�� 0.701,907,7953,95769.475.7��� 8.16
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Production 2008 Year:
 
 
Q1, 2008������� 68,651��� 322�� 0.60��� 458,6241,01264.575.9��� 8.61
Q2, 2008������� 65,276��� 287�� 0.55��� 419,245��� 88369.278.7��� 8.92
Q3, 2008������� 63,979��� 321�� 0.58��� 465,661��97670.781.3��� 9.66
Q4, 2008������� 57,750��� 346�� 0.58��� 514,867��� 91779.487.7��� 7.37
--------------------------------------------------------------------------
Total��������� 255,656��� 318�� 0.581,858,3973,78870.680.6��� 8.60
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Production 2009 Year:
 
 
Q1, 2009������� 51,073��� 326�� 0.56��� 409,476��� 79579.388.1��� 7.81
--------------------------------------------------------------------------
YTD 2009������� 51,073��� 326�� 0.56��� 409,476��� 79579.388.1��� 7.81
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
 
--------------------------------------------------------------------------
Q1, 2009 :
 Q1, 2008��������� -26%���� 1%��� -7%������ -11%�� -21%�� 23%�� 16%���� -9%
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
 
--------------------------------------------------------------------------
Q1, 2009 :
 Q4, 2008�������� -12%��� -6%��� -3%������ -20%�� -13%��� 0%��� 0%����� 6%
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
 
 
Comparative Table of Guanajuato Mine Operations
--------------------------------------------------------------------------
��������������������������������������������������������������������� Cash
���������������� Plant��� Ore GradesRecovered OuncesRecoveries��� Cost
���������������� T'put�� -------------------------------------------
��������������� ------���� Ag���� Au�������� Ag���� Au��� Ag��� Au�� $ per
Period��������� Tonnes�� (gpt)(gpt)������ (oz)�� (oz)�� (%)�� (%)���� oz
--------------------------------------------------------------------------
Production 2007 Year:Purchased May 2, 2007
 
 
Q1, 2007������������ 0����� 0����� 0��������� 0����� 0���� 0���� 0������ -
Q2, 2007������� 17,311��� 120�� 1.70���� 47,870��� 65771.769.4��� 8.07
Q3, 2007������� 26,385��� 124�� 1.29���� 85,742��� 81781.574.7�� 12.58
Q4, 2007������� 21,570��� 155�� 1.50���� 94,077��� 88687.785.0�� 32.97
--------------------------------------------------------------------------
Total���������� 65,266��� 133�� 1.47��� 227,6892,36081.576.6�� 20.06
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Production 2008 Year:
 
 
Q1, 2008�������� 9,506��� 171�� 1.54���� 46,045��� 42188.187.7�� 24.58
Q2, 2008������� 21,115��� 164�� 1.44���� 97,832��� 82288.187.7�� 12.75
Q3, 2008������� 32,742��� 170�� 1.62��� 159,4331,48988.387.2��� 9.22
Q4, 2008������� 33,177��� 188�� 1.67��� 181,2081,49990.688.9��� 7.90
--------------------------------------------------------------------------
Total���������� 96,540��� 175�� 1.59��� 484,5184,23189.087.9�� 10.79
--------------------------------------------------------------------------
--------------------------------------------------------------------------
Production 2009 Year:
 
 
Q1, 2009������� 34,658��� 189�� 1.70��� 163,3091,54088.188.6��� 6.90
--------------------------------------------------------------------------
YTD 2009������� 34,658��� 189�� 1.70��� 163,3091,54088.188.6��� 6.90
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
 
--------------------------------------------------------------------------
Q1, 2009 : Q1,
 2008�������� �����265%��� 11%��� 10%������ 255%�� 266%��� 0%��� 1%��� -72%
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
 
--------------------------------------------------------------------------
Q1, 2009 : Q4,
 2008��������������� 4%���� 1%���� 2%������ -10%���� 3%�� -3%��� 0%��� -13%
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
 
 
ENDEAVOUR SILVER CORP.
CONSOLIDATED BALANCE SHEET
(Unaudited-Prepared by Management)
(expressed in thousands of US dollars)
 
 
--------------------------------------------------------------------------
��������������������������������������������������� March 31,December 31,
������������������������������������������������������� 2009��������� 2008
--------------------------------------------------------------------------
 
 
ASSETS
 
 
Current assets
 Cash and cash equivalents���������������������� $���� 7,783�� $���� 3,582
 Marketable securities����������������������������������� 34����������� 35
 Accounts receivable and prepaids��������������������� 9,024�������� 6,203
 Inventories�������������� ����������������������������3,768�������� 3,159
 Due from related parties������������������������������� 146���������� 119
--------------------------------------------------------------------------
Total current assets��������������������������������� 20,755������� 13,098
 
 
Long term deposits�������������������������������������� 932���������� 914
Long term investments��������������������������������� 2,109�������� 2,155
Mineral property, plant and equipment���������������� 51,120������� 51,125
--------------------------------------------------------------------------
Total assets������������������������������������ $��� 74,916�� $��� 67,292
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
 
Current liabilities
 Accounts payable and accrued liabilities������� $���� 4,823�� $���� 5,339
 Accrued interest on convertible debentures������������� 101������������ -
 Income taxes payable������������������������������������ 91������������ -
--------------------------------------------------------------------------
Total current liabilities����������������������������� 5,015�������� 5,339
 
 
Asset retirement obligations������������� �������������1,485�������� 1,445
Future income tax liability��������������������������� 3,417�������� 4,036
Liability portion of convertible debentures����������� 7,267������������ -
--------------------------------------------------------------------------
Total liabilities������������������������������������ 17,184������� 10,820
--------------------------------------------------------------------------
 
 
Shareholders' equity
Common shares, unlimited shares authorized,
 no par value, issued and outstanding
 51,537,018 shares (2008 - 49,080,478 shares)�������� 89,816������� 87,584
Special Warrants, (2,311,540 units)����������������������� -�������� 2,118
Equity portion of convertible debentures�������������� 2,416������������ -
Contributed surplus���������������������������������� 11,755������� 11,285
Accumulated comprehensive income������������������������ 212���������� 212
Deficit��������������������������������������������� (46,467)����(44,727)
--------------------------------------------------------------------------
Total shareholders' equity��������������������������� 57,732������� 56,472
--------------------------------------------------------------------------
����������������� �������������������������������$��� 74,916�� $��� 67,292
--------------------------------------------------------------------------
--------------------------------------------------------------------------
 
 
 
ENDEAVOUR SILVER CORP.
CONSOLIDATED STATEMENTS OF CASH FLOW
(Unaudited-Prepared by Management)
(expressed in thousands of US dollars)
 
 
--------------------------------------------------------------------------
����������������������������������������������������� Three Months Ended
����������������� ����������������������������������March 31,���� March 31,
������������������������������������������������������� 2009��������� 2008
--------------------------------------------------------------------------
 
 
Operating activities
Net loss for the period������������������������$��� (1,740)$��� (2,011)
Items not affecting cash:
 Stock-based compensation�������������������������������� 83�������� 1,030
 Depreciation and depletion��������������������������� 2,290�������� 1,505
 Future income tax loss (recovery)��������������������� (452)���������� 23
 Unrealized foreign exchange loss (gain)���������������� (70)��������� 148
 Accretion of convertible debentures��������������������� 46������������ -
 (Gain) loss on marketable securities��������������������� -��������� (743)
Net changes in non-cash working capital�������������� (3,629)��������� 684
--------------------------------------------------------------------------
Cash from (used for) operations���������������������� (3,472)��������� 636
--------------------------------------------------------------------------
 
 
Investing activities
 Property, plant and equipment expenditures���������� (2,467)������ (3,897)
 Long term deposits������������������������������������� (18)���������� 11
 Investment in marketable securities���������������������� -��������� (969)
 Proceeds from sale of marketable securities�������������� -�������� 2,471
--------------------------------------------------------------------------
Cash used in investing activities������������������ ��(2,485)������ (2,384)
--------------------------------------------------------------------------
 
 
Financing activities
 Common shares issued, net of issuance costs������������� 35����������� 32
 Issuance of convertible debentures������������������ 11,225������������ -
 Debenture issuance costs���������������������������� (1,102)����������� -
--------------------------------------------------------------------------
Cash from financing activities����������������������� 10,158����������� 32
--------------------------------------------------------------------------
 
 
Increase (decrease) in cash and cash equivalents������ 4,201������� (1,716)
Cash and cash equivalents, beginning of period�������� 3,582������� 16,577
--------------------------------------------------------------------------
Cash and cash equivalents, end of period�������� $���� 7,783�� $��� 14,861
--------------------------------------------------------------------------
--------------------------------------------------------------------------





The TSX Exchange has neither approved nor disapproved the contents of this news release.

You can also view this News Release on our website at:
http://www.edrsilver.com/s/NewsReleases.asp?ReportID=347834
 

�2008 Endeavour Silver Corp. All Rights Reserved. | Disclaimer

< 

Endeavour Silver Corp.

PRODUCTEUR
CODE : EDR.TO
ISIN : CA29258Y1034
CUSIP : 29258Y 10 3
Suivi et investissement
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Endeavour Silver est une société de production minière d'or et d'argent basée au Canada.

Endeavour Silver détient divers projets d'exploration au Chili et au Mexique.

Ses principaux projets en production sont GUANAJUATO (BOLANITOS) et GUANACEVI au Mexique et ses principaux projets en exploration sont ARROYO SECO et PARRAL au Mexique et LA PRESIDENTA CHILE au Chili.

Endeavour Silver est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 455,7 millions CA$ (331,4 millions US$, 311,3 millions €).

La valeur de son action a atteint son plus bas niveau récent le 25 janvier 2002 à 0,01 CA$, et son plus haut niveau récent le 14 septembre 2012 à 9,99 CA$.

Endeavour Silver possède 127 300 000 actions en circulation.

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Présentations des Compagnies de Endeavour Silver Corp.
28/05/2010Morning notes - Christopher Berry, MBA
Dans les médias de Endeavour Silver Corp.
01/03/2010 Endeavour Silver - Silver Producer Focused On Growth
01/03/2010Silver Fundamentals - Endeavour Silver
28/03/2006Follow up N° 2
Rapports annuels de Endeavour Silver Corp.
2009 Annual report
2008 Annual Report
Financements de Endeavour Silver Corp.
01/01/2009Closes CA$3 Million in Two Private Placement Financings
17/12/2008Arranges CA$4 Million Special Warrant Private Placement
Nominations de Endeavour Silver Corp.
22/01/2013Announces Three New Management Appointments
20/08/2012Appoints New Director to the Board and New Manager of Corpor...
19/03/2008Announces Change of CFO for Health Reasons and New Appointme...
03/01/2008Appoints New CFO
03/12/2007Announces Four New Appointments to Operations Team in Mexico
11/10/2007(Guanacevi)Appoints New Vice President, Mexico Operations; Provides Upd...
Rapports Financiers de Endeavour Silver Corp.
15/07/2013Adjusts Second Quarter 2013 Revenues 12% Higher; Second Quar...
13/10/2011Production Continued to Rise in 3rd Quarter, 2011; Revenues ...
03/08/2011Reports $10.6 Million Adjusted Earnings in Q2, 2011 Thanks t...
05/05/2011Reports $14.5 Million Adjusted Earnings in Q1, 2011, Thanks ...
22/03/2011Reports Record Earnings, Cash-Flow and Revenues in 2010
16/05/2009Reports Financial and Operating Results for Q1, 2009; Silver...
09/07/2008(Guanajuato (bolanitos))Production on Target in Second Quarter, 2008;
07/04/2008Reports Financial and Operating Results for 2007; Revenues U...
15/11/2007 Reports Record Silver Production and Sales Revenues in Thir...
Projets de Endeavour Silver Corp.
03/09/2013(Guanacevi)Reports Fatality at Guanacevi Mine
14/01/2013Delivers 8th Consecutive Year of Production Growth in 2012; ...
31/01/2012(Guanajuato (bolanitos))Forecasts Eighth Consecutive Year of Production Growth, 60% ...
10/01/2012(Guanajuato (bolanitos))Sets New Production Records in 4th Quarter, 2011; Silver Pro...
13/12/2011(Guanajuato (bolanitos))Discovers Two New High Grade Silver-Gold Veins at the Guanaj...
06/12/2011(Guanajuato (bolanitos))Continues to Extend High Grade Silver-Gold Mineralization in...
22/09/2011(Guanajuato (bolanitos))Intersects 448 gpt Silver and 14.0 gpt Gold Over a 4.6 Meter...
06/09/2011(La Presidenta Chile)Options La Presidenta Silver Property in Chile
28/06/2011(Guanajuato (bolanitos))Drilling Continues to Intersect High Grade Silver-Gold Miner...
01/06/2011(Guanacevi)Acquires Several New Properties Covering Unexplored Vein Sys...
01/03/2011(Parral)Expands Indicated and Inferred Silver-Gold-Zinc-Lead Resourc...
07/01/2009Drilling Extends High Grade Silver Mineralization in Alex Br...
23/09/2008(Guanacevi)Additional Drilling Continues to Expand Three New Silver Zon...
09/09/2008(Guanajuato (bolanitos))Discovers Four New Zones of High Grade Silver-Gold Mineraliz...
06/08/2008(Guanajuato (bolanitos))Drilling Extends "3785" Silver-Gold Zone at Cebada Mine, Out...
12/06/2008(Guanacevi)Drilling Intersects Thicker, Deeper Extension of Santa Cruz ...
03/03/2008 Announces NI 43-101 Reserve/Resource Update: Proven/Probab...
26/02/2008(Guanajuato (bolanitos))Drilling Intersects New Gold-Silver Zone at Cebada Mine, Gua...
12/02/2008(Parral)Exploration Review Of 2007 And Exploration Outlook For 2008
12/06/2007Discovers New High Grade Lead- Zinc-Copper-Gold-Silver Miner...
Communiqués de Presse de Endeavour Silver Corp.
03/08/2016Endeavour Silver posts 2Q profit
27/07/2016Coverage Initiated on Silver Stocks First Majestic Silver, S...
20/07/2016Here’s Why These Five Stocks Are on the Move on Wednesday
11/07/2016Endeavour Silver Produces 1,551,851 oz Silver and 15,649 oz ...
27/06/2016Endeavour Silver Outlines Several Prospective New Silver-Gol...
02/06/2016Endeavour Silver Appoints New Vice President, Corporate Deve...
30/05/2016Endeavour Silver Completes Acquisition of Oro Silver Resourc...
27/05/2016Endeavour Silver Announces Annual General Meeting Results
29/01/2016Silver Could Spike $10 In A Day In Global Collapse Scenario
28/01/2016Endeavour Silver to cut output in Mexico on low prices
28/01/2016Endeavour Silver Provides Production and Cost Guidance for 2...
21/01/2016Endeavour Silver Updates Reserve and Resource Estimates; Dee...
25/11/2015Endeavour Silver Announces At-the-Market Offering of Up to U...
24/11/2015Is Endeavour Silver Corp. (CAN) (EXK) A Good Stock To Buy?
04/11/2015Should Endeavour Silver (EXK) Be On Your Radar Now?
02/11/2015Endeavour Silver Reports Financial Results for Third Quarter...
02/11/2015Endeavour Silver reports 3Q loss
28/10/2015Endeavour Silver Announces Revised Date for Release of Third...
28/10/2015Endeavour Silver Announces Revised Date for Release of Third...
28/10/2015Endeavour Silver Announces Revised Date for Release of Third...
28/10/2015Endeavour Silver Announces Revised Date for Release of Third...
28/10/2015Endeavour Silver Announces Revised Date for Release of Third...
28/10/2015Endeavour Silver Announces Revised Date for Release of Third...
28/10/2015Endeavour Silver Announces Revised Date for Release of Third...
28/10/2015Endeavour Silver Announces Revised Date for Release of Third...
28/10/2015Endeavour Silver Announces Revised Date for Release of Third...
28/10/2015Endeavour Silver Announces Revised Date for Release of Third...
28/10/2015Endeavour Silver Announces Revised Date for Release of Third...
28/10/2015Endeavour Silver Announces Revised Date for Release of Third...
28/10/2015Endeavour Silver Announces Revised Date for Release of Third...
28/10/2015Endeavour Silver Announces Revised Date for Release of Third...
16/10/2015Will Endeavour Silver (EXK) Continue to Surge Higher?
08/10/2015Endeavour Silver Produces 1,820,282 oz Silver and 15,319 oz ...
22/09/2015Endeavour Silver Infill Drilling Confirms High Grade, Gold-S...
09/09/2015Endeavour Silver Drilling Extends Three Zones of High Grade,...
17/08/2015Endeavour Silver Drilling Intersects High Grade, Gold-Silver...
06/08/2015Endeavour Silver reports 2Q loss
06/08/2015Endeavour Silver Reports Financial Results for Second Quarte...
09/07/2015Endeavour Silver Produces 1,769,741 oz Silver and 13,047 oz ...
23/04/2015Endeavour Silver Makes Minor Amendments to Stock Option Plan
08/04/2015Endeavour Silver Produces 1,820,050 oz Silver and 15,808 oz ...
08/04/2015Produces 1,820,050 oz Silver and 15,808 oz Gold (2.9 Millio...
17/03/2015Endeavour Silver Initiates Major Mine Expansion at El Cubo; ...
17/03/2015Endeavour Silver Reports 2014 Financial Results; Conference ...
17/03/2015Initiates Major Mine Expansion at El Cubo; Raises Production...
01/11/2013to Report Third Quarter 2013 Financial Results Before Market...
09/10/2013Sets New Production Record in Third Quarter, 2013; Produces ...
16/09/2013Raises 2013 Production Guidance to 6.0 Million oz Silver and...
11/09/2013Drilling Intersects New Silver-Gold Mineralization Near Hist...
06/08/2013Reports Second Quarter, 2013 Financial Results; Conference C...
22/07/2013Drilling Intersects Three Gold-Silver Mineralized Zones Near...
10/07/2013Sets New Production Record in Second Quarter, 2013; Produces...
11/06/2013Drill Program Continues to Intersect High Grade Silver-Gold ...
23/05/2013Reports Results of Annual General Shareholder Meeting
06/05/2013Reports First Quarter 2013 Financial Results, Conference Cal...
06/05/2013Reports First Quarter 2013 Financial Results, Conference Cal...
29/04/2013Implements Cost Reductions, Revises 2013 Financial Plan to R...
19/04/2013Reports Fatality of Contractor Employee at El Cubo Mine
08/04/2013Reports Record Production in First Quarter, 2013; Produces 1...
12/03/2013Reports Record Earnings, Cash Flow and Revenue in 2012, Conf...
25/02/2013Reports Strong Reserve and Resource Growth in 2012
13/02/2013Sustainability Review 2012 and Outlook 2013
30/01/2013Forecasts Ninth Consecutive Year of Production Growth, El Cu...
12/11/2012Appoints Luis Castro, Ing., as Vice President, Exploration
12/11/2012Appoints Luis Castro, Ing., as Vice President, Exploration
12/11/2012Appoints Luis Castro, Ing., as Vice President, Exploration
06/11/2012Reports Third Quarter 2012 Financial Results; Q3, 2012 Confe...
09/10/2012Illegal Work Stoppage at El Cubo Lease Facilities
24/09/2012Continues to Extend High Grade Silver-Gold Mineralization in...
18/09/2012Extends High Grade Silver-Gold Mineralization in the Lana Ve...
10/09/2012Provides El Cubo Capital Budget and Operational Update
07/08/2012Reports Second Quarter 2012 Financial Results; Arranges $75 ...
10/07/2012Production Continues to Climb in Second Quarter, 2012; Produ...
29/06/2012and AuRico Gold Extend Closing of the Purchase/Sale of the E...
19/06/2012Options Lourdes Property in Guanajuato, Mexico
05/06/2012Clarifies Technical Disclosure for the El Cubo Mine and Guad...
22/05/2012Discovers High Grade Silver-Gold Mineralization at the San S...
08/05/2012Reports Record Adjusted Earnings for Q1, 2012, Up 35% to $19...
24/04/2012to Release First Quarter 2012 Financial Results on May 8, 20...
15/04/2012and AuRico Gold Sign Definitive Agreement
11/04/2012Reports Record Production in First Quarter, 2012; Produces 1...
19/03/2012Expands Its Reserves/Resources for 8th Consecutive Year
07/03/2012to Release 2011 Financial Results on March 20, 2012, Confere...
24/01/2012Review of Exploration Results in 2011 and Plans for 2012
17/01/2012Initiates Two $500,000, 5 Year Scholarship Programs for Eart...
19/07/2011to Release Second Quarter 2011 Financial Results on August 3...
11/07/2011Reports Continued Production Growth in 2nd Quarter, 2011; Pr...
26/04/2011to Release First Quarter 2011 Financial Results on May 5, 20...
11/04/2011Reports Record Production in First Quarter, 2011; Produces 9...
07/03/2011Announces Transfer of Common Share Listing From NYSE Amex to...
01/02/20112010 Exploration Review and Exploration Plans for 2011
06/01/2011Sets New Production Records in 4th Quarter, 2010, Silver Pro...
01/12/2010Cream Board of Directors Recommends Acceptance of Amended En...
24/12/2008David Morgan's Latest Commentary
21/11/2008David Morgan's Latest Commentary on Silver
10/11/2008Webcast Rodman & Renshaw Conference, Monday November 10
16/09/2008Chairman and CEO Comments to Shareholders: Fundamentals Rem...
05/09/2008Present at The Silver Summit, Coeur d'Alene, Idaho
26/03/2008 David Morgan Exclusive Interview -Third in a Series
22/02/2008 & David Morgan - February Interview
19/02/2008Endeavour Acquires Navegantes Properties Near Parral Distric...
12/12/2007Acquires San Pedro Properties In Guanacevi Silver District, ...
27/11/2007Acquires El Milache Properties Along Trend from Porvenir Min...
17/10/2007 Sets New Record For Quarterly Silver Production, Up Sharply...
25/09/2007Update of Exploration and Acquisition Programs in Mexico
17/09/2007Review of Operations and Revised 2007 Forecast
31/08/2007Reports Update on Cash Position and Short Term Investments
15/08/2007Reports Higher Quarterly Sales Revenues, Silver Production, ...
10/08/2007Silver Supply & Demand
01/08/2007 Reports Higher Silver Production In Q2, 2007, Up 23% to 430...
11/07/2007Raises 2007 Production Forecast to 2.8 million Oz Silver; Bo...
20/06/2007Shareholders Re-Elect Board, Appoint New Director
17/05/2007Brien Lundin's Latest Review and Recommendation
15/05/2007Reports Record Quarterly Sales Revenues, Mine Operating Cash...
27/01/2007Lists on the American Stock Exchange Trading Symbol "EXK"
13/01/2006Silver Gold Newsletter
16/10/2005Update from Goldletter International
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TORONTO (EDR.TO)NYSE (EXK)
3,58+2.87%2,61+3.16%
TORONTO
CA$ 3,58
19/04 17:00 0,100
2,87%
Cours préc. Ouverture
3,48 3,45
Bas haut
3,43 3,64
Année b/h Var. YTD
1,96 -  3,96 39,84%
52 sem. b/h var. 52 sem.
1,96 -  5,71 -35,03%
Volume var. 1 mois
492 498 27,86%
24hGold TrendPower© : -1
Produit Gold - Silver
Développe
Recherche Copper - Gold - Lead - Silver
 
 
 
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Variation annuelle
DateVariationMaxiMini
2024-1,10%
2023-17,35%6,083,43
2022-22,61%7,273,40
2021-11,98%9,324,77
2020110,13%6,691,30
 
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