• Your Questions, Our Answers

Q:Why did Endeavour Silver sell the El Cubo mine?

A.  As any company grows, it naturally tends to focus on bigger and better mines or exploration projects.  Such is the case with Endeavour Silver.  As we move closer to developing our exciting new Terronera mine and more aggressively exploring our Parral and Chile projects, we felt it was time to let go of some non-core assets.  We closed the 1500 tonne per day El Cubo mine in November 2019 when we ran out of economic reserves.  Even though we continued to report some resources at El Cubo, they were small blocks scattered over a large area of the old mine so we did not think they could be economically extracted.  However, the buyer VanGold has their own small resource property El Pinguico not far from the El Cubo plant, and they plan to bring the El Cubo plant back into production at a smaller throughput. We agreed to sell our El Cubo assets to them because VanGold offered us a better return than we could generate by continuing to try and mine it ourselves.  Additionally, we become their largest shareholder at CAD$0.30 per share and the shares are now trading at CAD$0.56 per share, almost double (as per the week of April 12,2021)!  We are more than happy to support VanGold on their path to become the next junior silver producer in Mexico, truly a win-win deal!

Back to the media page m