NEW YORK (TheStreet) -- Precious metals prices have been bouncing around following the Federal Reserve's recent no-taper decision. TheStreet's Joe Deaux sat down with Endeavour Silver's (EXK) CEO, Bradford Cooke, to discuss the company's prospects.
Cooke said the stock price mainly followed the action of silver and gold prices: bottoming near the end of June, rallying through July and pulling back slightly in August. Now, he says, the sector should begin to rally again after it finds a short-term bottom.
While precious metal prices were crashing in the first and second quarter of 2013, many companies were scrambling to generate cash flows. However, Cooke said, Endeavour was able to increase production by 35% in its Bolanitos Mine, making up for what would have been a short-fall in cash flow.
He added that last week, the company was able to raise this year's production guidance to six million ounces of silver and 70,000 ounces of gold.Silver prices deserve a bounce due to its oversold condition, Cooke concluded. He added that in the next three years, he expects his company to increase operations by 60%. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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