Cooke still sees the Terronera project as Endeavour’s rising star. He also discussed Canarc’s pending acquisition of a small, high-grade gold mine.
At the recent Sprott-Stansberry Vancouver Natural Resource Symposium, the Investing News Network had the chance to speak with Brad Cooke, CEO of Endeavour Silver (TSX:EDR,NYSE:EXK). The company operates three high-grade, underground silver mines in Mexico — Guanacevi, Bolanitos and El Cubo — but Cooke focused largely on the Terronera project.
In the past Cooke has described Terronera as the company’s “rising star,” and he said that it continues to live up to Endeavour’s expectations. “How many silver mining companies are actually proposing to build a new mine in this market,” Cooke asked, adding, “thick, rich, shallow orebody still open to the southeast, other parallel veins yet to be drilled. It’s in prefeasibility study now, and we hope to go to the board this year/early next year for a decision to build a new mine.”
Cooke also spoke about Canarc Resource (TSX:CCM,OTCBB:CRCUF). Cooke is chairman of Canarc, and the company recently announced plans to acquire a small, high-grade gold-silver mine in Mexico. Speaking about why he’s not worried about getting deeper into the gold-silver space even in today’s tough markets, Cooke explained that the goal is for Canarc to gain success using a model that’s served Endeavour well — namely buying struggling assets and using money and expertise to turn them around.
And certainly prospects for Canarc’s mine appear high. Cooke commented, “admittedly it’s a small project, but it’s ready for production and it’s in a big district … so we feel that just getting started, generating some real cash flow and then taking it there gives Canarc a new life.” The acquisition is expected to close at the end of September.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Endeavour Silver Completes Terronera PEA; Prefeasibility Study in the Works
Endeavour Silver’s El Cubo Expansion to Bring ‘Across-the-Board’ Improvements
Endeavour Silver: CEO Brad Cooke Says, ‘Be Patient’