Endeavour Mining Capital Reports Strong Earnings.U.S. Global Investors Serves as Investment Advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and for Merchant Banking Company Focused on Global Natural Resources Sector SAN ANTONIO San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. -- Endeavour Mining Capital Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :EDV EDV end-diastolic volume. .TO), a merchant banking company that invests in the global natural resources sector, has reported net income of $32.3 million, or $1.38 per share, for the quarter ended December 31, 2006. U.S. Global Investors, Inc. (Nasdaq:GROW), a leading investment advisory company in resources and emerging markets, serves as equity investment advisor to Endeavour Mining Capital. Endeavour's income in the latest quarter was more than double that of the corresponding quarter in fiscal year 2006, when the company earned $12.1 million, or 52 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . "Endeavour's venture-capital and merchant banking approach has created tremendous wealth for its shareholders," says Frank Holmes, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and chief investment officer at U.S. Global Investors and chairman of Endeavour Mining Capital. "It has outperformed its peers without using leverage the way many hedge funds do." The compensation structure for U.S. Global Investors includes management fees that are received and recorded monthly and an annual performance fee, if warranted, that would be paid in the fourth fiscal quarter that ends June 30, 2007. Based on information released by Endeavour, for the first six months of fiscal 2007, the performance fee to date accruing to U.S. Global totals approximately $340,000. The final performance fee payable to U.S. Global, if any, will be determined as of June 30, 2007, based on the financial results of Endeavour Mining Capital for the entire fiscal year. Under the accounting policies adopted by U.S. Global Investors, the performance fees are calculated and recorded only once a year at the end of the fiscal year in accordance with the terms of the advisory agreement. This and other performance fees may fluctuate significantly from year to year based on factors that may be out of U.S. Global's control. These fluctuations could result in the recording of no performance fees. U.S. Global Investors is scheduled to release its earnings for the second quarter of fiscal year 2007 on February 8, 2007. The company plans to host an earnings webcast on February 9, 2007, at 10 a.m. Central time. About U.S. Global Investors, Inc. U.S. Global Investors, Inc. (www.usfunds.com) is a registered investment advisor Registered Investment Advisor (RIA) is a designation obtainable in the United States by an individual who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in that focuses on profitable niche markets around the world. Headquartered in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. , the company provides advisory, transfer agency and other services to U.S. Global Investors Funds, U.S. Global Accolade Funds and other clients. With an average of more than $4.79 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. for the quarter ended Sept. 30, 2006, U.S. Global Investors manages domestic and offshore funds offering investment options from emerging markets to money markets. In general, trends in assets under management are the critical drivers of revenue and earnings. This news release may include certain "forward-looking statements" including statements relating to revenues, expenses, and expectations regarding market conditions. These statements involve certain risks and uncertainties. There can be no assurance that such statements will prove accurate and actual results and future events could differ materially from those anticipated in such statements. |
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