Endeavour Financial Corp (EDV, TSX)
Another Strong Year Prompts a 100% Dividend Increase

We�ve been following Endeavour since it started trading in 2004 and every year the company has built shareholder value in a very dramatic fashion. Recently Endeavour reported that for the year ending June 30, 2008, shareholder equity increased from US $255 million ($11.57 per share) to US $370 million (CDN $12.38 per share).

If you�re going to invest in the resource market, there�s no better way to safeguard your wealth and maximize potential growth then by partnering up with some of the best minds in the business.

For the retail investor, it�s virtually impossible to get involved in a stock at the ground floor level. That is to say when the shares are first printed at five or ten cents and the new entity is still in the idea stage. The big money is made here, before a property or new business is vended into the deal.

But that�s what this financial advisory firm does. Endeavours� management builds new resource companies from the ground up. They provide mining expertise, capital and financing arrangements and invariably build very successful corporations.

Since Endeavour is building these new companies from scratch, they control large blocks of seed stock, bought for pennies per share. After a relatively short period of time, these new companies are invariably worth many dollars per share.

There are many examples of this. Endeavour has financed some of the resource market�s biggest winners such as Wheaton River, now Goldcorp, which is the world�s second biggest gold producer; Bema Gold which went from 25 cents to more than $6 before it was bought out by Kinross Gold; UrAsia Energy bought out by Uranium One last year for a return of over 400%. More recently, Endeavour helped establish Gold Wheaton which went from pennies to trade at around $1.50 before this recent pullback. And that�s just a small representation of what Endeavour does. Basically, buying low and selling high.

When you have large positions of �penny stock� that�s created at 5 cents per share and then opens for trading at over a dollar, it�s possible to amass a small fortune. And you can build a massive fortune as these companies start growing.

For the average investor, getting in at the ground floor just isn�t going to happen. However you can still reap the benefits of this successful Endeavour formula by becoming a shareholder with the brain trust who is building this huge wealth.

With the recent market downturn the timing on accumulating more shares now looks very good. Endeavour only has 30.5 million shares outstanding and has a discounted price to book ratio of 0.50 X. In the U.S., merchant banking firms have traded up to 12 X book.

As a further sign of confidence and success, the management is buying back their own shares. Over the last fiscal year the company repurchased 520,000 common shares at an average price of CDN $7.39. (Friday�s closing price was $5.80.)

Not only is Endeavour a bargain at today�s price but it also has increased their monthly dividend by 100%! They are now paying 36 cents per year, 6% of the current price.

Going forward I see continued growth for Endeavour. I�ve mentioned how they create companies from scratch and build them up but there�s much more to the company.

Last year the company earned US $48 million of their $108 million in revenues from their advisory management fees. The advisory fee income looks poised for growth as Endeavour extends its global reach to mining projects around the world that need help in developing.

Conclusion

It�s been a tough year for resource stocks but Endeavour has continued to earn significant revenues from merchant banking (U.S. $60 million) and financial advisory fees (U.S. $48 million.)

The key benefit of owning this stock is that you�re investing with some of the world�s top resource sector financiers and developers. Their success in Endeavour stock is the same as yours and all you have to do is sit back and cash in your dividends.

In my opinion this is the safest and best way to invest in the resource sector.



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Endeavour Financial
Vanguard Shareholder Solutions
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