Maybe holding on to the goods pays off. If so a small 1st sale now done I believe, can only be positive if SFMI has increased dore for the second tranche...which should be much more. Most of you have seen this but for those who haven't...applicable excerpts from Ed steer today:

"As you can imagine, I get a fair amount of material in my in-box on a daily basis. One of the things that caught my attention was this announcement by Endeavour Silver Corp. It was tucked away in their financial and operating results and unaudited financial statements for the Third Quarter of 2011...that were just released yesterday. Here's the pertinent paragraph...

"Management elected to not to sell all the silver and gold produced during the 3rd quarter due to the falling precious metal prices. As a result, precious metals held in inventory at quarter-end [were] 270,536 ounces of silver and 2,420 ounces of gold. Given that silver and gold prices are already rebounding in the 4th quarter, these inventories should substantially enhance our future financial results when sold."

I salute them for this...and I hope they continue to add more silver to their stockpile on a quarterly basis until the silver price are allowed to rise to something resembling free-market pricing...which is many multiples of what it's currently selling for. I hope this idea gains traction with other silver companies as well, as it doesn't hurt the bottom line of any company that does it...and it doesn't have to be a lot of silver, either. Up to five percent of physical silver production tucked away for a rainy day will sit well with all shareholders. My congratulations to Endeavour Silver Corp. for leading the way.