Movers and SHAKERS
Wednesday, July 15, 2020
Endeavour Silver (EXK)(EDR:CA)
EXK Unveils Final Terronera Preliminary Feasibility Study
As of April 24, 2020, Noble Capital Markets research on Endeavour Silver is published under ticker symbols (EXK and EDR:CA). The price target is in USD and based on ticker symbol EXK. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Endeavour Silver Corp is a precious metal mining company. The company is primarily engaged in silver mining and owns three high-grade, underground, silver-gold mines in Mexico. Its other business activities include acquisition, exploration, development, extraction, processing, refining and reclamation. The company is organized into four operating mining segments, Guanacevi, Bolanitos, El Cubo, and El Compas, which are located in Mexico as well as Exploration and Corporate segments. Its Exploration segment consists of projects in the exploration and evaluation phases in Mexico and Chile.
Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Highlights of the study. The final preliminary feasibility study (PFS) highlights enhanced project economics, including cumulative after-tax free cash flow of $217.4 million and a 30% internal rate of return based on silver and gold prices of $15.97 and $1,419 per ounce, respectively. The previous study released in 2018 forecast cumulative after-tax free cash flow of $193.2 million and a 23.5% IRR. Part of the difference is due to a 6.7% increase in processing capacity to 1,600 tons per day. Expected life of mine payable silver and gold ounces produced increased 6.8% and 22.4%, respectively, relative to the 2018 study.
Next steps. Endeavour will proceed with a feasibility study over the next 12 months to bolster confidence in the project and enhance access to financing alternatives. Once a development decision is made, the project could ...
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.