Interview with Bradford Cooke, CEO of Endeavour Silver (TSX: EDR, NYSE: EXK)

It has been a very difficult few years for silver explorers, silver developers and silver producers. Endeavour Silver is one such silver mining company that has suffered. However, the recent buzz generated by a soaring silver price has driven value into Endeavour Silver's stock for the first time since 2017. Is this just a story that has been riding the wave of silver price discovery, or is there more to like about it?

Endeavour Silver is a mid-tier silver producer with assets in Mexico; specifically, 3 high-grade, underground silver-gold mines in Mexico: Guanacevi, Bolanitos, El Compas. Endeavour Silver also owns 2 development projects, Terronera, El Cubo, and a variety of silver exploration tenements: in Mexico, Parral, Lourdes and Guadalupe y Calvo, and in Chile, Cerro Marquez, Aida and Paloma.

Endeavour Silver wants to be a silver turnaround story. They have produced a lot of cash in the past and if they can extend life of mines for their underground projects and get lucky with the drill bit in Chile this could indeed be a story which starts to meet its promise. A long way to go between now and then, and will be interesting to following. The latest numbers to come out of Terronera in a PFS are very impressive: with a base case silver price of $15.97/oz silver and $1,419/oz gold, an 30% IRR and an NPV(5%) of $137M over an initial 10-year mine life. Could this latest potential source of silver production create even more value for shareholders?

We Discuss:

  • Company Overview
  • Rocky Road of Development: Challenges and Decision Making
  • Mining in Mexico: Delays and Problems
  • Turnaround Efforts + Silver Price + COVID-19 = Nightmare Situation?
  • Terronera Project: PFS Numbers, Plans, and Potential
  • Addressing Insider Selling: Company VS Market
  • Outlook on Silver Price
  • Hindsight and Lessons Learned: Why Did Cost Cutting Take so Long? 

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