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By early 2012, the El Cubo mine in the old mining district of Guanajuato in Mexico had turned into a thorn in the side of Canadian precious metal miner AuRico (AUQ). Nowhere near profitable and always prone to throw up a problem or two, this old and worn mine appeared to have run its course. Presumably, AuRico management felt relieved when it succeeded in offloading this mine onto Endeavour Silver (EXK) in April 2012 for $100M in cash and further $100M in shares of the purchasing company.

Endeavour Silver took stock and did not waste much time at all putting a plan into motion which was designed to turn this beaten asset around. Just...

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