VGLDF - Endeavour Silver to sell El Cubo mine in up to $18M deal

Endeavour Silver ([[EXK]] -2.7%) agrees to sell the El Cubo mine in Guanajuato, Mexico, to VanGold Mining (VGLDF) for $15M in cash and share payments plus as much as $3M in contingent payments.Endeavour also says its common shares will be be added to the S&P/TSX Composite and the NYSE Arca Gold Miners indices effective after market close on March 19.While Endeavour is a "decent organic growth story... investors are paying a high price for that growth at more than 28x earnings estimates," Taylor Dart writes in a neutral analysis published recently on Seeking Alpha.

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Endeavour Silver to sell El Cubo mine in up to $18M deal