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This statement should be read in conjunction with the audited consolidated financial statements for the period ended March 31, 2013 and the related notes contained therein.
ENDEAVOUR SILVER CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(expressed in thousands of U.S. dollars)
--------------------------------------------------------------------------- Three Months Ended March 31, March 31, 2013 2012---------------------------------------------------------------------------Operating activitiesNet earnings for the period $ 14,357 $ 19,775Items not affecting cash: Share-based compensation 563 778 Depreciation and depletion 12,148 8,541 Deferred income tax provision 2,453 623 Unrealized foreign exchange loss (gain) (85) (2,730) Mark-to-market loss (gain) on derivative (1,452) (143) liability Mark-to-market loss (gain) on contingent (2,491) - liability Finance costs 117 5 Write down of inventory to net realizable 1,495 - vallue Gain on sale of investments (1,777) (483)Net changes in non-cash working capital (15,790) 2,394---------------------------------------------------------------------------Cash from operating activities 9,538 28,760---------------------------------------------------------------------------Investing activites Property, plant and equipment expenditures (28,716) (9,349) Investment in short term investments (130) (27,242) Proceeds from sale of short term 4,720 31,912 investments Investment in long term deposits - (184)---------------------------------------------------------------------------Cash used in investing activities (24,126) (4,863)---------------------------------------------------------------------------Financing activities Proceeds from revolving credit facility 24,000 - Common shares issued on exercise of options 293 610 and warrants Interest paid (42) ----------------------------------------------------------------------------Cash from financing activites 24,251 610---------------------------------------------------------------------------Effect of exchange rate change on cash and 85 1,443 cash equivalentsIncrease (decrease) in cash and cash 9,663 24,507 equivalentsCash and cash equivalents, beginning of 18,617 75,434 period---------------------------------------------------------------------------Cash and cash equivalents, end of period $ 28,365 $ 101,384---------------------------------------------------------------------------
This statement should be read in conjunction with the audited consolidated financial statements for the period ended March 31, 2013 and the related notes contained therein.
