Endeavours shares have dropped after reporting a decrease of 19% in proven and probable reserves for a total of 13.4 M oz silver between the companys two Mexican mines, Guanacevi and Guanajuato. However, the indicated silver resources were up 16% at 27.4 million oz and indicated gold resources were up 53% at 182,000 oz. It will be critical to Endeavours success to extend the mine lives by replacing the mined ore with more proven reserves, hence Endeavour plans to spend $9.2 million on exploration and drilling in Mexico this year while simultaneously increasing production rates at the two mines.
– Courtesy of Mexico Mining Center
