children of an idle brain

Endeavour Silver (EDR.to) (EXK) 2q16, for balance sheet wonks only

This morning Endeavour Silver (EDR.to) (EXK) reminded us once again of the woeful level of business acumen running silver mining companies, via its 2q16 results. A penny a share net profit at these silver prices? Laughably poor numbers and to add insult to injury, note the way they decided to award themselves pay rises.
But the pay rise thing isn’t the detail that springs out of the numbers when you start sifting them, it’s this:
Seriously, guys..

Pray tell, would this have any connection to the new EDR decision not to mothball El Cubo, announced this morning? Bit of a hole in your balance sheet there? Problems with suppliers, Mister Crooke?

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