As far as dividend, because of Terronera, that’s going to be in the future. I wouldn’t say in the near future because we also have the Pitarrilla project coming in behind that. Our goal is to advance Pitarrilla. Pitarrilla would be a significant scale project that we still have a lot of work to do on, but we are feeling confident with it. But again, any capital and cash flow that comes from Terronera, we’re probably going to reinvest in the Company. So unfortunately, if you’re looking for a dividend from Endeavor Silver, it’s probably not going to come in the near future. But what can happen in the silver price and ultimately, if you’re investing in Endeavour Silver, you’re investing in silver, that could change, and I hope it does.
But like I say, currently, right now, with where we’re at with $23 silver, I don’t see a dividend in the near future until we’re fully invested with and exploit what we have with Pitarrilla, Parral our other exploration programs.
Unidentified Analyst: Right. So just a couple of more quick questions. It’s a little while ago, I saw — watched a interview with yourselves and your projection, and your assumption at that time was that by the end of 2023, silver would hit $30 an ounce. Just quickly what projects to that? And also in terms of maybe a quick brief explanation of how the international silver market works. And then, the last question before I say goodbye is, what is your current position? And can you tell me since you’ve been in this position, what is your current holding of stock? And when was the last time you bought or sold the stock?
Dan Dickson: Sure. And there’s a lot of questions there, the overall market and my personal position. My personal position, I believe I hold about 400,000, 450,000 shares of Endeavour. My holding price would probably be between $4 and $5 and my carrying price would be. The last time I bought stock would have been last year about May or March of 2022. But that’s probably enough about me. With regards to me saying that silver price would have been $30, I couldn’t tell you when — which YouTube or which interview you listened to, but I have said on in the past and ultimately, that would be based on where the gold price is. And if you look at the history of gold and silver ratio, the last 35 years has averaged about 35:1. Right now, gold is sitting just below $2,000, maybe at that time was $2,100.
So to get to a ratio — right now, I think we’re sitting 86:1, to get to a ratio similar to what we’ve seen historically, that would push silver up into the high-20s and ultimately $30. We hit $29 silver, a couple of years ago now, and we’ve really come off of that. And I mean it’s been very uncertain times. And with rising interest rates, silver price has not performed. But funny enough, gold has held on considerably well. I think that’s a positive thing for the silver price. I think if gold pushes up through $2,000 and $2,100, silver always eventually follows. It’s just the lag time and the lag period and sometimes that lag period is six months, sometimes that lag period is for one year. So with me forecasting or projecting that silver was going to be $30, I don’t think I’ve never — not said that, I likely did maybe based on where gold price is.
And then ultimately, how the silver market works in the world, that’s a huge question. I mean it’s a large market. There’s over 800 million ounces that are produced and sold. It’s sold through different exchanges in the United States, China, across everywhere. So, I don’t think I’ll get into that right now, Trevor. But happy to answer those questions through our info line. Give our IR a call, and we’ll take you through that another time. But I’ll move now to next question, operator.
Operator: The next question comes from Craig Hutchison with TD Securities. Please go ahead.
