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Vancouver-based silver reseller Silver Wheaton increased its proven and probably silver reserves by 239% year-on-year in 2007, to 364,4-million on. Precious-metals miner Endeavour Silver, whose record output and revenues in 2007 were overshadowed by equally operating costs, will focus on improving operational efficiencies this year, while continuing to search for new resources at its Mexican projects. While the firm more than doubled revenue, to $32,3-million, and increased silver production by 58% to 2,1-million ounces, cash costs rose 43% year-on-year, to an average of $9,38/oz, net of gold credits. Endeavour invested $15,2-million on capital projects in 2007, including $9,6-million on plant and equipment and $2,1-million for underground mine development, most of which was spent at Guanacevi. Costs would improve as plant upgrades were completed, improving throughput and recoveries at Guanacevi, most notably in the third and fourth quarters of this year, said interim CFO Dan Dickson . Despite having made two significant purchases last year, Endeavour Silver remains acquisitive, both in the regions surrounding its two projects and on a broader scale, Cooke said. Find Out More

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