ENDEAVOUR SILVER $10.39 - Toronto symbol EDR

ENDEAVOUR SILVER $10.39 (Toronto symbol EDR: TSINetwork Rating: Speculative) (1-877-685-9775; www.edrsilver.com; Shares outstanding: 87.6million; Market cap: $910.2 million; No dividends paid) operates the Guanacevi and Guanajuato silver/gold mines in Mexico.

In the three months ended September 30, 2011, Endeavour’s revenue rose 93.0%, to $38.8 million from $20.1 million a year earlier (all amounts except share prices in U.S. dollars). Cash flow per share more than doubled, to $0.24 from $0.11. Rising production and sharply higher gold and silver prices were the main reasons for the gains.

The company is nearly finished expanding the Guanajuato mine. That will push up its silver production by 12.1%, to 3.7 million ounces from 3.3 million ounces in 2010.

In addition, Endeavour has announced further positive drilling results from the recently discovered Daniela vein at Guanajuato. The company now has two drill rigs working on this vein, and they have already extended it by more than 600 metres.

The company has lots of room to further increase its mines’ reserves, plus it has three other properties with exploration potential.

Endeavour is a buy for aggressive investors.

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