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Endeavour Silver Reports 2013 Financial Results, Conference Call at 8am PDT (11am EDT) on March 11, 2014

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/10/14 -- Endeavour Silver Corp. (NYSE:EXK)(TSX:EDR) announced today its financial results for the year ended December 31, 2013, based on the Company's ninth consecutive year of growing silver and gold production. Endeavour owns and operates three underground silver-gold mines in Mexico: the Guanacevi mine in Durango state, and the Bolanitos and El Cubo mines in Guanajuato state.

The complete financial statements and Management's Discussion & Analysis can be viewed on the Company's website, on SEDAR at www.sedar.com and EDGAR at www.sec.gov. All amounts are reported in US$.

Highlights of Fiscal 2013 (Compared to Fiscal 2012)

Financial


--  Net loss of $89.5 million ($0.90 per share) compared to net earnings of
    $42.1 million ($0.45 per share) 
--  Adjusted earnings(1)decreased 72% to $11.1 million ($0.11 per share)
    compared to $40.2 million ($0.43 per share) 
--  EBITDA(1)increased 10% to $100.0 million 
--  Cash flow from operations before working capital changes decreased 2% to
    $81.6 million 
--  Mine operating cash flow(1)increased 2% to $116.9 million 
--  Revenue increased 33% to $276.8 million 
--  Realized silver price fell 25% to $23.10 per ounce (oz) sold (consistent
    with 2013 average spot price) 
--  Realized gold price fell 18% to $1,375 per oz sold (consistent with 2013
    average spot price) 
--  Cash costs(1)rose 8% to $7.92 per oz silver payable (net of gold
    credits) 
--  All-in sustaining costs fell 21% to $18.31 per oz silver payable (net of
    gold credits) 
--  Cash and equivalents rose 88% to $35 million at year-end compared to $19
    million 

Operations


--  Silver production increased 52% to 6,813,069 oz 
--  Gold production jumped 95% to 75,578 oz 
--  Silver equivalent production escalated 67% to 11.3 million oz (at a 60:1
    silver:gold ratio) 
--  Bullion inventory at year-end included 51,000 oz silver and 198 oz gold 
--  Concentrate inventory available for sale at year-end was nil 
--  Successfully completed the El Cubo plant reconstruction on time and
    budget 
--  Plant throughputs, ore grades and metal recoveries were higher at all
    three mines 

Highlights of Fourth Quarter 2013 (Compared to Fourth Quarter 2012)

Financial


--  Net loss of $115.8 million ($1.16 per share) compared to net earnings of
    $14.8 million ($0.15 per share) 
--  Adjusted loss of $12.1 million ($0.12 per share) compared to adjusted
    earnings of $12.9 million ($0.13 per share) 
--  EBITDA(1) fell 18% to $23.0 million 
--  Cash flow from operations before working capital changes decreased 12%
    to $18.0 million 
--  Revenue increased 2% to $67.9 million on 2,155,326 silver oz sold and
    18,960 gold oz sold 
--  Realized silver price fell 38% to $20.52 per oz sold 
--  Realized gold price fell 28% to $1,246 per oz sold 
--  Cash costs(1) fell 39% to $7.46 per oz silver payable (net of gold
    credits) 
--  El Cubo cash costs(1) fell 83% to $6.65 per oz silver payable (net of
    gold credits) 
--  All-in sustaining costs fell 49% to $14.24 per oz silver payable (net of
    gold credits) 

Operations


--  Silver production up 56% to 1,931,717 oz 
--  Gold production up 37% to 17,686 oz 
--  Silver equivalent production up 49% to 3.0 million oz (at a 60:1
    silver:gold ratio) 
--  Plant throughputs, ore grades and metal recoveries were higher at all
    three mines 

(1) Adjusted earnings, mine operating cash flow, EBITDA and cash costs are non-IFRS measures. Please refer to the definitions in the Company's Management Discussion & Analysis.

Endeavour CEO Bradford Cooke stated: "We delivered another record year of silver and gold production and revenue in 2013. In spite of achieving higher throughput, grades and recoveries at all three mines, our earnings were hit by lower metal prices and reduced carrying values at El Cubo and Guanacevi plus a deferred tax liability related to the new mining taxes in Mexico.

"Nonetheless, significant progress was made in 2013, particularly in the El Cubo mine performance and operating costs. The single digit cash costs are what management originally modelled long term for El Cubo when it acquired the mine in 2012. The operating turn-around at El Cubo still has two quarters to completion but the transformation thus far has been very satisfying."

Financial Results (Consolidated Statement of Operations appended below)

For the year ended December 31, 2013, the Company generated revenue totaling $276.8 million (2012 - $208.1 million). During the year, the Company sold 7,151,963 oz silver and 81,119 oz gold at realized prices of $23.10 and $1,375 per oz respectively, compared to sales of 4,815,073 oz silver and 35,167 oz gold at realized prices of $30.99 and $1,674 per oz respectively in 2012.

After cost of sales of $219.9 million (2012 - $130.1 million), mine operating earnings amounted to $56.9 million (2012 - $78.0 million) from mining and milling operations in Mexico.

Excluding depreciation and depletion of $53.6 million (2012 - $29.7 million), stock-based compensation of $0.5 million (2012- $0.5 million), and a write-down of inventory of $5.9 million (2012 - $6.2), mine operating cash flow before taxes was $116.9 million (2012 - $114.4 million) in 2013. Operating loss was $102.9 million (2012 - earnings of $53.6 million) driven by impairment charges of $95.8 million on the Guanacevi and El Cubo mines and a $39.2 million impairment of El Cubo goodwill.

At December 31, 2013, the Company determined there were several indicators of potential impairment of its producing mineral properties which include the sustained decline in precious metal prices, the Mexican tax reform and a reduction of the Guanacevi estimated reserves and resources. The net after-tax impairment totaled $104.3 million. As a result, net earnings fell from $42.1 million to a loss of $89.5 million in 2013.

Net earnings also included a mark-to-market derivative liabilities gain related to share purchase warrants issued in 2009 denominated in Canadian dollars, while the Company's functional currency is the US dollar. Under IFRS, these warrants are classified and accounted for as financial liability at fair market value with adjustments recognized through net earnings. The appreciation of these warrants resulted in a derivative liability gain of $3.8 million (2012 - loss of $1.9 million).

Excluding the net impairment charges and the mark-to market derivative liabilities gain, adjusted earnings were $11.1 million ($0.11 per share) compared to $40.2 million ($0.43 per share) in 2012. The drop in precious metal prices was the primary reason for the decrease in the Company's earnings year over year.

In December 2013, the Mexican President passed tax reform legislation that took effect January 1, 2014. The tax reform includes, among other items, an increase of the Mexican corporate tax rate from 28% to 30%, removal of the flat tax regime, a Special Mining Duty of 7.5% on taxable mine revenue, less allowable deductions excluding interest and capital depreciation, and an 0.5% Environmental Tax on gold and silver revenue. The tax reform is expected to have a material impact on the Company's future earnings and cash flow.

Consolidated operating costs increased 5% to $97 per tonne due to rising wage pressures, significant restructuring costs, additional use of contractors and higher refining costs, partly offset by the additional economies of scale with the higher output. Cash cost per ounce, net of by-product credits, which is a non- IFRS measure and a standard of the Silver Institute, rose 8% to $7.92 per ounce of payable silver compared to $7.33 per ounce in 2012. The lower by-product credit because of the lower gold price was the primary contributor to the higher cash costs, offset by higher consolidated grades and recoveries. All- in sustaining costs fell 21% as mine development and exploration expenditures were curtailed in response to falling precious metal prices and these costs were allocated over more ounces of silver production.

The Company invested a total of $88.6 million in property, plant and equipment during 2013. Of this, $48.5 million was invested at El Cubo, $21.4 million at Bolanitos, and $15.9 million at Guanacevi. The El Cubo plant refurbishment was completed on time and budget, while the 10.6 kilometres of accelerated mine development should allow the El Cubo mine output to rise to the 1,550 tonnes per day plant capacity by year-end. The Guanacevi and Bolanitos capital investments continued to focus primarily on sustaining mine development and tailings dam expansions.

2014 Outlook

Endeavour plans to hold silver production relatively steady in the range of 6.5-6.9 million oz in 2014 compared to the 6.8 million oz silver produced in 2013. Gold production is expected to be in the 65,000-69,000 oz range and silver equivalent production is anticipated to be 10.4-11.0 million oz (at a silver:gold ratio of 60:1) as shown in the table below.


                                                 Ag Eq. Prod.     Tonnes/Day
Mine            Ag Prod. (M oz) Au Prod. (K oz)        (K oz)          (tpd)
----------------------------------------------------------------------------
Guanacevi               2.6-2.7         7.0-8.0       3.0-3.2    1,200-1,300
Bolanitos               2.2-2.4       36.0-38.0       4.4-4.7    1,450-1,600
El Cubo                 1.7-1.8       22.0-23.0       3.0-3.1    1,200-1,550
----------------------------------------------------------------------------
Total                   6.5-6.9       65.0-69.0     10.4-11.0    3,850-4,450
----------------------------------------------------------------------------

In 2014, Bolanitos production will pull back to the 1,600 tpd plant capacity as management has elected not to continue extra mine production for processing at the El Cubo plant as it did in 2013. At Bolanitos, production will continue primarily from the Daniela, Karina, Lana and Bolanitos veins and mine development will open up the La Luz- Asuncion deposit.

In 2013, El Cubo production will expand to fill the 1,550 tpd plant to capacity through a steady ramp-up of mine output as mine development opens up the new Villalpando-Asuncion deposit. At El Cubo, the remaining 2014 production will continue to come primarily from the Dolores, Villalpando, San Nicolas and Santa Cecilia veins.

Bolanitos and El Cubo are both producing silver-gold concentrates for sale under one year contracts to smelters because their attractive terms offer lower costs and higher profit margins compared to producing dore bars from the El Cubo leach plant at the current low metal prices.

At Guanacevi, production will continue primarily from the Porvenir Norte, Porvenir Cuatro and Santa Cruz veins. Underground development of the new Milache discovery is awaiting permitting for development to start in 2014 and production to start in 2015.

Operating Costs

Direct operating costs are forecast at $95 per tonne, and consolidated by-product cash costs of silver production (net of gold credits) are anticipated to be in the $9-$10 per oz range in 2014. The increase from 2013 is primarily driven by the lower gold price and reduced gold production. Consolidated co- product cash costs of silver and gold production are anticipated to be around $13-14 and $800-850 per oz respectively.

All-in by-product sustaining costs of production (including sustaining capex, exploration and G&A costs) are forecasted to be approximately $19 per oz of silver produced.

Capital Budget

Endeavour plans to invest $43.9 million on capital projects in 2014, including $34.6 million on mine development, infrastructure, equipment and exploration plus $9.3 million on plant upgrades, infrastructure, equipment and buildings. The Company has budgeted $20.9 million at El Cubo, $9.9 million at Bolanitos, $11.7 million at Guanacevi and $1.4 million for general capital, all of which should be funded by the Company's anticipated 2014 operating cash flow.

Because of Endeavour's reserve depletion last year, management will look for opportunities to allocate additional funds for accelerated mine development to convert measured and indicated resources into proven and probable reserves in 2014.

Exploration Expenditures

In 2014, Endeavour plans to spend $10.7 million on exploration. A total of 54,000 metres of drilling in about 120 holes are budgeted to test multiple exploration targets in addition to the underground mine exploration drilling. As in previous years, management will look for opportunities to stretch and also augment this budget in order to fuel accelerated resource expansion.

The Company will focus on brownfields exploration around the three operating mines in order to replenish reserves and grow resources and mine lives, as well as expanding and permitting the emerging new high grade silver-gold discovery in the Terronera vein on the San Sebastian property in Jalisco State.

Conference Call

A conference call to discuss the results will be held Tuesday, March 11 at 8:00am PST (11:00am EST). To participate in the conference call, please dial the following:


Toll-free in Canada and the US: 1-800-319-4610                              
Local Vancouver: 604-638-5340                                               
Outside of Canada and the US: 1-604-638-5340                                

No pass-code is necessary to participate in the conference call.

A replay of the conference call will be available by dialing 1-800-319-6413 in Canada and the US (toll- free) or 1-604-638-9010 outside of Canada and the US. The required pass-code is 4890 followed by the # sign. The replay will also be available on the Company's website at www.edrsilver.com.

All shareholders can receive a hard copy of the Company's complete audited financial statements free of charge upon request. To receive this material in hard copy, please contact Meghan Brown, Director Investor Relations at 604-640-4804 or toll free 1-877-685-9775.

About Endeavour - Endeavour is a mid-tier silver mining company focused on growing its profits, production, reserves and resources in Mexico. Since start-up in 2004, Endeavour has posted nine consecutive years of accretive growth of its silver mining operations. The organic expansion programs now underway at Endeavour's three silver-gold mines in Mexico combined with its strategic acquisition and exploration programs should facilitate Endeavour's goal to become a premier senior silver producer.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States private securities litigation reform act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding Endeavour's anticipated performance in 2014 and the timing and results of exploration drill programs. The Company does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.

Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Endeavour and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others, changes in national and local governments, legislation, taxation, controls, regulations and political or economic developments in Canada and Mexico; operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, and challenges to the Company's title to properties; fluctuations in the prices of commodities and their impact on reserves and resources as well as those factors described in the section "risk factors" contained in the Company's most recent form 40F/Annual Information Form filed with the S.E.C. and Canadian securities regulatory authorities.

Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the Company's mining operations, no material adverse change in the market price of commodities, mining operations will operate and the mining products will be completed in accordance with management's expectations and achieve their stated production outcomes, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.


ENDEAVOUR SILVER CORP.                                                      
COMPARATIVE HIGHLIGHTS                                                      
                                                                            
  Three Months Ended Dec. 31                        Year Ended Dec. 31      
                                   Q4 2013                                  
                           %     Highlights                               % 
      2013       2012 Change                         2013       2012 Change 
----------------------------------------------------------------------------
                                 Production                                 
----------------------------------------------------------------------------
                              Silver ounces                                 
 1,931,717  1,235,026     56%  produced         6,813,069  4,485,476     52%
                              Gold ounces                                   
    17,686     12,917     37%  produced            75,578     38,687     95%
                              Payable silver                                
 1,855,108  1,222,705     52%  ounces produced  6,593,805  4,440,619     48%
                              Payable gold                                  
    16,612     12,800     30%  ounces produced     72,562     38,311     89%
                              Silver                                        
                               equivalent                                   
                               ounces produced                              
 2,992,877  2,010,046     49%  (1)             11,347,749  6,806,696     67%
                              Cash costs per                                
                               silver                                       
      7.46      12.25    -39%  ounce(2)(3)           7.92       7.33      8%
                              Total production                              
                               costs per                                    
     14.59      18.88    -23%  ounce(2)(4)          15.69      13.80     14%
                              All-in                                        
                               sustaining                                   
                               costs per                                    
     14.24      28.06    -49%  ounce(2)(5)          18.31      23.06    -21%
   379,480    362,779      5% Processed tonnes  1,148,894  1,065,689      8%
                              Direct                                        
                               production                                   
                               costs per                                    
     90.72      90.39      0%  tonne(2)(6)          97.00      92.74      5%
                              Silver co-                                    
                               product cash                                 
     11.45      18.82    -39%  costs (7)            13.19      14.87    -11%
                              Gold co-product                               
    695.47     987.70    -30%  cash costs (7)      785.01     807.67     -3%
----------------------------------------------------------------------------
                                 Financial                                  
----------------------------------------------------------------------------
                              Revenue ($                                    
      67.9       66.7      2%  millions)            276.8      208.1     33%
                              Silver ounces                                 
 2,155,326  1,345,832     60%  sold             7,151,963  4,815,073     49%
    18,960     13,037     45% Gold ounces sold     81,119     35,167    131%
                              Realized silver                               
     20.52      32.87    -38%  price per ounce      23.10      30.99    -25%
                              Realized gold                                 
     1,246      1,725    -28%  price per ounce      1,375      1,674    -18%
                              Net earnings                                  
                               (loss) ($                                    
    (115.8)      14.8   -881%  millions             (89.5)      42.1   -312%
                              Adjusted net                                  
                               earnings (8) ($                              
     (12.1)      12.9   -194%  millions)             11.1       40.2    -72%
                              Mine operating                                
                               earnings ($                                  
       9.9       17.9    -45%  millions)             56.9       78.0    -27%
                              Mine operating                                
                               cash flow(9) ($                              
      26.4       34.8    -24%  millions)            116.9      114.4      2%
                              Operating cash                                
                               flow before                                  
                               working capital                              
      18.0       20.4    -12%  changes (10)          81.6       82.9     -2%
                              Earnings before                               
      23.0       28.2    -18%  ITDA (11)            100.0       90.5     10%
                              Working capital                               
      32.2       50.9    -37%  ($ millions)          32.2       50.9    -37%
----------------------------------------------------------------------------
Shareholders                                                                
----------------------------------------------------------------------------
                              Earnings (loss)                               
                               per share -                                  
     (1.16)      0.15   -100%  basic                (0.90)      0.45   -300%
                              Adjusted                                      
                               earnings per                                 
                               share - basic                                
     (0.12)      0.13   -193%  (8)                   0.11       0.43    -74%
                              Operating cash                                
                               flow before                                  
                               working capital                              
                               changes per                                  
      0.18       0.20    -12%  share (10)            0.82       0.89     -8%
                              Weighted average                              
                               shares                                       
99,720,704 99,539,282      0%  outstanding     99,770,293 93,266,038      7%
----------------------------------------------------------------------------
                                                                            
                                                                            
ENDEAVOUR SILVER CORP.                                                      
CONSOLIDATED STATEMENTS OF CASH FLOWS                                       
(expressed in thousands of U.S. dollars)                                    
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                         Years Ended        
                                                  December 31, December 31, 
                                                          2013         2012 
----------------------------------------------------------------------------
                                                                            
Operating activities                                                        
Net earnings (loss) for the year                    $  (89,465)  $   42,117 
Items not affecting cash:                                                   
  Share-based compensation                               3,544        4,724 
  Impairment of non-current assets                      95,815            - 
  Impairment of goodwill                                39,245            - 
  Depreciation and depletion                            53,898       29,952 
  Deferred income tax provision                        (20,464)       2,135 
  Unrealized foreign exchange loss (gain)                  682       (1,208)
  Mark-to-market loss (gain) on derivative                                  
   liability                                            (3,750)      (1,928)
  Mark-to-market loss (gain) on contingent                                  
   liability                                            (8,398)         589 
  Finance costs                                          1,513          484 
  Write down of inventory to net realizable value        5,874        6,221 
  Loss (gain) on marketable securities                   3,091         (158)
Net changes in non-cash working capital                 (5,041)      (6,907)
----------------------------------------------------------------------------
Cash from operating activities                          76,544       76,021 
----------------------------------------------------------------------------
                                                                            
Investing activites                                                         
  Property, plant and equipment expenditures           (88,518)     (66,236)
  Acquisition of Mexgold Resources Inc.                      -     (100,000)
  Investment in short term investments                    (130)     (28,267)
  Proceeds from sale of short term investments           5,328       50,373 
  Investment in long term deposits                         (65)        (190)
----------------------------------------------------------------------------
Cash used in investing activities                      (83,385)    (144,320)
----------------------------------------------------------------------------
                                                                            
Financing activities                                                        
  Proceeds from revolving credit facility               30,000        9,000 
  Repayment of revolving credit facility                (6,000)           - 
  Debt issuance costs                                     (144)        (732)
  Interest paid                                         (1,101)        (381)
  Common shares issued on exercise of options and                           
   warrants                                                528        2,591 
  Share issuance costs                                       -         (204)
----------------------------------------------------------------------------
Cash from financing activites                           23,283       10,274 
----------------------------------------------------------------------------
                                                                            
Effect of exchange rate change on cash and cash                             
 equivalents                                               (55)       1,208 
Increase (decrease) in cash and cash equivalents        16,442      (58,025)
Cash and cash equivalents, beginning of year            18,617       75,434 
----------------------------------------------------------------------------
Cash and cash equivalents, end of year              $   35,004   $   18,617 
----------------------------------------------------------------------------

This statement should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2013 and the related notes contained therein.


ENDEAVOUR SILVER CORP.                                                      
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)                      
(expressed in thousands of US dollars, except for shares and per share      
amounts)                                                                    
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                       Years Ended          
                                                December 31,   December 31, 
                                                        2013           2012 
----------------------------------------------------------------------------
                                                                            
Revenue                                         $    276,783   $    208,079 
Cost of sales:                                                              
  Direct production costs                            158,582         91,800 
  Royalties                                            1,328          1,866 
  Share-based compensation                               515            545 
  Depreciation and depletion                          53,569         29,694 
  Write down of inventory to net realizable                                 
   value                                               5,874          6,221 
----------------------------------------------------------------------------
                                                     219,868        130,126 
                                                                            
Mine operating earnings                               56,915         77,953 
                                                                            
Expenses:                                                                   
  Exploration                                         13,168         11,185 
  Impairment of non-current assets                    95,815              - 
  Impairment of goodwill                              39,245              - 
  General and administrative                          11,605         13,136 
----------------------------------------------------------------------------
                                                     159,833         24,321 
                                                                            
Operating earnings (loss)                           (102,918)        53,632 
                                                                            
Mark-to-market loss/(gain) on derivative                                    
 liabilities                                          (3,750)        (1,928)
Mark-to-market loss/(gain) on contingent                                    
 liability                                            (8,398)           589 
Finance costs                                          1,513            484 
                                                                            
Other income (expense):                                                     
  Foreign exchange                                    (2,597)         3,447 
  Investment and other income                         (1,079)         2,152 
----------------------------------------------------------------------------
                                                      (3,676)         5,599 
                                                                            
Earnings (loss) before income taxes                  (95,959)        60,086 
                                                                            
Income tax expense:                                                         
  Current income tax expense                          13,970         15,834 
  Deferred income tax expense (recovery)             (20,464)         2,135 
----------------------------------------------------------------------------
                                                      (6,494)        17,969 
----------------------------------------------------------------------------
Net earnings (loss) for the year                     (89,465)        42,117 
----------------------------------------------------------------------------
Other comprehensive income (loss), net of tax                               
  Net change in fair value of available for                                 
   sale investments                                    1,250         (3,631)
----------------------------------------------------------------------------
                                                                            
Comprehensive income (loss) for the year        $    (88,215)  $     38,486 
----------------------------------------------------------------------------
                                                                            
Basic earnings (loss) per share based on net                                
 earnings                                       $      (0.90)  $       0.45 
----------------------------------------------------------------------------
Diluted earnings (loss) per share based on net                              
 earnings                                       $      (0.90)  $       0.42 
----------------------------------------------------------------------------
                                                                            
Basic weighted average number of shares                                     
 outstanding                                      99,720,704     93,266,038 
----------------------------------------------------------------------------
Diluted weighted average number of shares                                   
 outstanding                                      99,720,704     95,728,031 
----------------------------------------------------------------------------

This statement should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2013 and the related notes contained therein.


ENDEAVOUR SILVER CORP.                                                      
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION                               
(expressed in thousands of US dollars)                                      
----------------------------------------------------------------------------
                                                  December 31, December 31, 
                                                          2013         2012 
----------------------------------------------------------------------------
ASSETS                                                                      
Current assets                                                              
  Cash and cash equivalents                       $     35,004 $     18,617 
  Investments                                            1,463        8,520 
  Accounts receivable                                   23,749       20,526 
  Inventories                                           23,647       40,797 
  Prepaid expenses                                       3,341        9,940 
----------------------------------------------------------------------------
Total current assets                                    87,204       98,400 
Non-current deposits                                     1,186        1,451 
Mineral property, plant and equipment                  278,533      338,431 
Goodwill                                                     -       39,245 
----------------------------------------------------------------------------
Total assets                                      $    366,923 $    477,527 
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
LIABILITIES AND SHAREHOLDERS' EQUITY                                        
Current liabilities                                                         
  Accounts payable and accrued liabilities        $     17,221 $     34,631 
  Income taxes payable                                   3,259        3,854 
  Derivative liabilities                                 1,491            - 
  Revolving credit facility                             33,000        9,000 
----------------------------------------------------------------------------
Total current liabilities                               54,971       47,485 
                                                                            
Provision for reclamation and rehabilitation             6,652        6,496 
Derivative liabilities                                       -        5,336 
Contingent liability                                        99        8,497 
Deferred income tax liability                           49,053       69,517 
----------------------------------------------------------------------------
Total liabilities                                      110,775      137,331 
----------------------------------------------------------------------------
                                                                            
Shareholders' equity                                                        
Common shares, unlimited shares authorized, no par                          
 value, issued and outstanding 99,784,409 shares                            
 (Dec 31, 2012 - 99,541,522 shares)                    358,408      357,296 
Contributed surplus                                     14,836       12,828 
Accumulated comprehensive income (loss)                 (4,081)      (5,331)
Retained earnings (deficit)                           (113,015)     (24,597)
----------------------------------------------------------------------------
Total shareholders' equity                             256,148      340,196 
----------------------------------------------------------------------------
Total liabilities and shareholders' equity        $    366,923 $    477,527 
----------------------------------------------------------------------------

This statement should be read in conjunction with the audited consolidated financial statements for the year ended December 31, 2013 and the related notes contained therein.

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Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
Your business relies on your applications and your employees to stay in business. Whether you develop apps or manage business critical apps that help fuel your business, what happens when users experience sluggish performance? You and all technical teams across the organization – application, network, operations, among others, as well as, those outside the organization, like ISPs and third-party providers – are called in to solve the problem.
Digital transformation is too big and important for our future success to not understand the rules that apply to it. The first three rules for winning in this age of hyper-digital transformation are: Advantages in speed, analytics and operational tempos must be captured by implementing an optimized information logistics system (OILS) Real-time operational tempos (IT, people and business processes) must be achieved Businesses that can "analyze data and act and with speed" will dominate those t...
While DevOps promises a better and tighter integration among an organization’s development and operation teams and transforms an application life cycle into a continual deployment, Chef and Azure together provides a speedy, cost-effective and highly scalable vehicle for realizing the business values of this transformation. In his session at @DevOpsSummit at 19th Cloud Expo, Yung Chou, a Technology Evangelist at Microsoft, will present a unique opportunity to witness how Chef and Azure work tog...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo Silicon Valley Call for Papers is now open.
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...
As ridesharing competitors and enhanced services increase, notable changes are occurring in the transportation model. Despite the cost-effective means and flexibility of ridesharing, both drivers and users will need to be aware of the connected environment and how it will impact the ridesharing experience. In his session at @ThingsExpo, Timothy Evavold, Executive Director Automotive at Covisint, will discuss key challenges and solutions to powering a ride sharing and/or multimodal model in the a...
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
We’ve been doing it for years, decades for some. How many websites have you created accounts on? Your bank, your credit card companies, social media sites, hotels and travel sites, online shopping sites, and that’s just the start. We do it often without even thinking about it, quickly entering our personal information, our data, in a plethora of systems. Sometimes we’re not even aware of the information we are providing. It could be very personal information (think of the security questions you ...
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
SYS-CON Events announced today that ReadyTalk, a leading provider of online conferencing and webinar services, has been named Vendor Presentation Sponsor at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. ReadyTalk delivers audio and web conferencing services that inspire collaboration and enable the Future of Work for today’s increasingly digital and mobile workforce. By combining intuitive, innovative tec...
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...