By Deborah Bacal
Proactive Investors
After growing production for nine straight years, Endeavour Silver Corp. says it is forecasting “relatively steady” silver output in 2014, focusing instead on positioning the company for a turnaround in metal prices later this year with a boost in free cash flow.
The precious metals miner, with three underground silver-gold mines in Mexico, told investors Wednesday that it is forecasting silver production in the range of 6.5 to 6.9 million ounces, compared to the 6.8 million ounces it produced in 2013, which was 52% higher than 2012.
It is predicting gold production of 65,000 to 69,000 ounces, and silver equivalent production between 10.4 to 11.0 million ounces, compared to the 11.3 million ounces produced in 2013.