I hope they are because it would be good sense. It would also make their year end look pretty weak...

From Ed Steer's Gold and Silver Daily:

I note that Endeavour Silver just came out with their 2011 year-end earnings...and imbedded in their press release was this little tidbit..."In Q4, 2011, Endeavour elected not to sell a significant portion of its metal production on the basis that the gold and silver prices were experiencing a major correction [This is the company's cute way of saying that they know the silver price is managed to the downside. - Ed] and the Company would be better served [by holding] the unsold metal in inventory until such time as the metal prices rebounded. Therefore the following year-end financial results do not reflect the sale of full 2011 metal production. Metal prices did rebound in Q1, 2012 and management subsequently sold most of the metal held in inventory at prices significantly higher than the December prices."

"Metal held in inventory at 2011 year-end included 980,000 ounces (oz) silver and 5,400 oz gold, compared to 127,000 oz silver and 957 oz gold at 2010 year-end."

I'd like to see them [and every other silver producer] hold onto a portion of their silver production until they break the back of this JPMorgan-sponsored silver price management scheme, but at least it's a move in the right direction. Maybe they [and others] will step up to the plate on the next Sprott PSLV offering, as that's the equivalent of taking silver off the market themselves. They all have the cash to make a huge difference it they decide to go that route.

If they want to be beloved by us shareholders...the real owners of these companies...this is a path they could all choose. Endeavour Silver has found out just how profitable this can be in the short term...and their shareholders love them for it. A bigger win/win/win situation in the short, medium and long term for everyone, I cannot possibly imagine.