July 7, 2010 / 3:27 PM / 8 years ago

UPDATE 1-Endeavour Silver Q2 production surges

* Q2 silver production rises 41 pct * Q2 gold production up 61 pct * Shares up 3 pct

July 7 (Reuters) - Canada’s Endeavour Silver Corp (EDR.TO) reported higher silver and gold production for the second quarter from its mines in Mexico, sending its shares up 3 percent in early morning trade.

The company’s Guanacevi Mine in Durango state and the Guanajuato Mine in Guanajuato state produced 826,439 ounces of silver, up 41 percent over the last year. Gold production rose 61 percent to 4,461 ounces. The silver miner said once its capital programs are in place this quarter, Guanacevi production should rise to 1,000 tons per day.

The company planned capital investments totalling $29 million for 2010 to unfold the full production capacities at Guanacevi and Guanajuato, it had said during the fourth quarter results’ announcement.

Shares of the Vancouver, British Columbia-based company were up 10 Canadian cents at C$3.36 Wednesday on the Toronto Stock Exchange. (Reporting by Thyagaraju Adinarayan in Bangalore; Editing by Maju Samuel)

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