Endeavour Q4 output rises to record

7th January 2011 By: Liezel Hill

TORONTO (miningweekly.com) – Vancouver-based Endeavour Silver produced 895 931 oz of silver in the fourth quarter, the company's best quarterly performance to date and an increase of 15% compared with a year earlier.

Endeavour operates two precious-metals mines in Mexico, Guanacevi and Guanajuato, and expects production will rise again this year, CEO Bradford Cooke said in a statement.

Gold production rose 6%, to 4 871 oz, which also represented a record for the company.

Full-year silver production rose 26% year-on-year, to 3,3-million ounces, beating Endeavour's target of 3,1-million ounces, and gold was up 33%, at 17 713 oz in 2010.

The company has discovered a number of new high-grade veins at the Guanajuato mine, and is now considering a “major” plant expansion at the operation this year, Cooke said.

“We therefore expect to achieve our seventh consecutive year of organic production growth this year.”

Endeavour will publish production forecasts for 2011 later this month.