EXK - Endeavour Silver: Let The Ride Run But Know Where To Stop
Thesis
Endeavour Silver Corporation (EXK) is a Canadian micro-cap, struggling silver miner that has a significant operational presence in Mexico. EXK has a history of consistently delivering poor performance and in continuation to that trend, EXK's Q2 2020 results saw a sharp 42% YoY (read: Year-over-Year) decline in production of AgEq (read: Silver Equivalent) ounces, primarily due to government-mandated operational suspension in Mexico during a major part of Q2. This reflected negatively on EXK's ability to leverage from favorable silver prices that have built an overall upward trajectory since mid-March. Moreover, given that