November 2, 2011 / 8:25 PM / 7 years ago

UPDATE 1-Endeavour Silver posts Q3 profit on higher prices

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Nov 2 (Reuters) - Endeavour Silver posted a profit in the third quarter, and the silver miner said it expects to gain in the fourth quarter from high silver and gold prices and a ramp-up in production at its newly expanded Guanajuato plant in Mexico.

July-September earnings were $3.1 million, or 4 cents a share, compared to a loss of $9.6 million, or 15 cents a share, a year ago.

Revenue nearly doubled to $38.8 million.

Vancouver-based Endeavour, which owns and operates the Guanacevi mines in Durango State and the Guanajuato Mines in Guanajuato state in Mexico, expects inflationary pressures on costs to be offset by higher efficiency at Guanajuato. (Reporting by Gowri Jayakumar in Bangalore; Editing by Sriraj Kalluvila)

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