(MENAFN- ProactiveInvestors) The 2015 PDAC event is drawing near and is getting ready to put on its annual power breakfast which promises to feature some of the best and brightest in the mining industry.
So far we have locked down (TSE:EDR) and () with directors from both companies to present at the annual PDAC Power Breakfast show on March 2nd.
Endeavour recently reported record fourth quarter production results that topped analyst views achieving its 10th straight year of higher silver production since its start-up more than a decade ago.
Pure silver production came in at 2.0 million ounces in the fourth quarter on higher grades and recoveries at its mines led by record performance from its Guanacevi property. On a silver equivalent basis Q4 production was 11.6 million ounces. The precious metals miner said it expects to produce 9.0 to 10.1 million ounces of silver equivalent in 2015 including 5.8 to 6.4 million ounces of silver.
Endeavour will also speak on the significant source of potential growth at its San Sebastian development project in Mexico where economic studies are underway following the completion of permitting last year. The project is a new high grade silver-gold discovery in Mexico which could become Endeavour's fourth mine subject to economic results.
The company operates three silver mines in Mexico: Guanacevi El Cubo and Bolanitos. All of its current three mines were acquired between 2004 and 2012 with Endeavour turning around each operation expanding production and increasing profitability.
meanwhile is on track to ramp up its Maracas Menchen mine in Brazil to phase 1 capacity by Q3 and recently said it is expecting 2015 production to come in at 17 million pounds of vanadium pentoxide at a cost of US$4.15 per pound. Costs are expected to drop to US$3.21 per pound by the end of this year.
Looking out to 2016 the company has the option to complete a $32 million expansion which would raise capacity by some 50 percent and make Maracás the largest and lowest cost vanadium mine in production noted Cormark Securities in a recent analyst report.
Largo's phase 1 capacity goal of 9634 tonnes per year is expected to make up 7 percent of the global vanadium market. Assuming a capacity expansion is completed by June 2016 production is guided to grow to 24 million pounds per year.
The Toronto-based miner earlier this week that it is in talks with its lenders to push out the payment schedule for its loans and remove any near-term tightness on its balance sheet that will begin in the second quarter.
Presentations will begin at 7:30am ET at the Caledon Room in the Intercontinental Hotel 225 Front Street West in Toronto prior the start of the PDAC (Prospectors and Developers Association of Canada) conference. The room will be open from 7:00 am with continental breakfast as well as coffee and juice being served.
The One2One forums promise to provide direct access to the bosses of some of the nation’s most dynamic growth companies. In seven years Proactive has organized more than 400 events and introduced investors to some of the stock market’s best-performing stock market listed companies.
The PDAC 2015 convention will take place at the Metro Toronto Convention Centre from March 1-4 2015. The four-day annual event is expected to draw 1000 exhibitors as well as 25122 attendees from over 100 countries.
We look forward to seeing you there!
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