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Old 02-01-2016, 07:54 AM   #1
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Endeavour Silver to close a mine, cut silver production 25 pct

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... Endeavour Silver announced that it will cut silver production by 25% in 2016. The company has three mines working in Mexico and will produce 7.2 million oz (Moz) of silver in 2015. However, Endeavour plans to shut down production of one of their mines by the end of 2016 and put it on care and maintenance.
...
More: https://srsroccoreport.com/it-begins...on-25-in-2016/

Low prices putting the pressure on...
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Old 02-01-2016, 05:11 PM   #2
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It is also useful to put this type of news in the context of global yearly production.

Global yearly production is about 750 Moz.

Endeavor is cutting production in 2016 from 7.2 Moz by 1.8 Moz to 5.4 Moz.

The 1.8 Moz reduction in 2016 is about 0.25% of yearly global production. Not a huge amount, but if other miners follow suit due to low silver price pressure, then the cumulative effect could start to make a real difference.
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Old 02-01-2016, 05:32 PM   #3
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Yes I thought i detected a certain amount of wishful thinking in Steves article.

Like he has a need for miners to cease production to prove he has done good analysis and predictions.

I love his work and am grateful he shares it, so not complaining just observing.
I gave up trying to justify holding or buying pm's cos its so binary.

Either you see whats coming or you don't.

Timing it is the real challenge )-:
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Old 02-02-2016, 07:26 AM   #4
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Good points gentlemen.

Mothballing a mine is relatively easy and quick. Restarting one - especially one that's been idle for a good length of time - is harder and takes longer. Point being, once mothballed, whatever level of production the mine enjoyed prior to closure won't be seen again for a good while even after they announce a resumption of operations.
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