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January 30, 2013
08:33 EDTEXKEndeavour Silver sees 2013 silver production up 12%-18% to 5M-5.3M oz
Endeavour's silver production in 2013 is forecast to rise 12-18% to 5.0M-5.3M ounces and gold production is anticipated to increase 19-27% to 46,000-49,000 oz. Silver equivalent production is expected to climb 14-22% to 7.3M-7.8M oz at a silver:gold ratio of 50:1. The company said, "Our recently acquired El Cubo mine will drive this year's production growth. Endeavour's current focus is on completing the main El Cubo mine and plant capital projects on time and budget in Q2, 2013, continuing the operational turn-around now well underway at El Cubo and honing our operational costs and efficiencies at Guanacevi and Guanajuato. For that reason, the Company is not forecasting any additional production growth at the Guanacevi and Bolanitos mines in 2013, although we will evaluate certain opportunities to expand the production in 2013. Once the El Cubo capital projects are completed, management will turn its attention to growth opportunities at the other two mines and elsewhere."
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