Growing Silver in Mexico
Bradford Cooke, CEO of Endeavour Silver Corp. gives insight into their 3 mines in Mexico and how they expect their production to grow by 50 percent in the next 3 years.
Endeavour is a 13-year old precious metals producer with three mines in Mexico. We’re primarily focused on silver with gold as a byproduct. Last year, we produced about 10 million ounces of silver in equivalents. So, three separate mines, all high grade underground mines employing about a total workforce of 2,400 people, vast majority of course being Mexican. It’s a very Mexican-focused company. I think for most of our sector last year was a transition year from bare mark, it’s a whole market and for Endeavour what that means that 2017 is a year of transformation really transferring the company form three matured mines to three new mines.
We live and die by organic growth. Even the three mines that we purchased these last 13 years, they had no reserves, they had no production and they really relied on our ability to bring the money and expertise needed to make new discoveries, fast track development of new mines, and organically grow the operations. That’s our past, it’s also our future, we rely heavily on the drill bit on making new discoveries, and then building around those. So, we expect to grow our production over the next three years alone by about 50 percent. We are mid-tier producer with a development pipeline to become a senior producer. We don’t need to buy anything to become that.
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