Here is what I posted at Stockhouse's ECU forum regarding the GOG news:

<<<From hiram1's post:
"40 million(ozs in release) x 50% = 20mill net after 50% to ecu
20mill x 2dollars inground(market gives us = 40million(market cap)
40mill / 40mill (#shares fully diluted)= $1.00 share price$$$"

That $2 for in-ground ounces represnts about 14% valuation. That percentage would only represent a post feasability stage with mine construction imminent ( perhaps construction financing arranged or agreed upon). That is not the case yet.

A better (conservative) valuation for GOG:
42.4 million oz. @50% = 21.2 million oz.
@$14/oz. = $296.8 million
Over 40 million shares = $7.42 per share
Discount for an Explorer (5% of gross), net =$0.37 per share

Where one gets a premium is for management, locale ( read Bob Moriarty site evaluation from October ) etc. most of all, future potential of even greater resource and it is silver after all (most under valued PM).

What it means to ECU:
21.2 million oz. @$14/oz. = $296.8 million over 240 million shares is $1.24 per share, of in-ground.
That roughly means about ten cents per share to the share price. Hence little reaction.>>>

Does that help? Edgy