Bradford Cooke, CEO of Endeavour Silver Corp (EDR:TSX) discusses this mining company with a silver project in Mexico.
Endeavour Silver Corp is a New York and Toronto listed public company, a mid-tier silver mining company with three operating mines in Mexico and two development projects that we’re proposing to build next year. But the sweetheart in our portfolio is called the Terronera project in western Jalisco State, Mexico. And we think it will become our largest and lowest cost mine.
We’ve identified one ore body, at the Terronera vein, currently has an all-in resource of about 45 million ounces of silver equivalent. We think that can grow by multiples. This year’s program for Endeavour at our Terronera discovery is a combination of engineering to deliver a pre-feasibility study for developing a new mine next year and continuing to explore these new vein discoveries.
We just recorded in 2015 our third consecutive year of reduced cash cost and reduced solid sustaining costs. We think that there is tremendous growth in the next three to five years cycle, not only for the sector, but in particular for the company. And last year, for instance, silver coin demand jumped 16 percent, in the middle of a bear market. With falling supply and rising demand, it was only a matter of time before the market turned. And silver is actually up almost 50 percent on the year. This is the time to be investing in the future.