Since Latisha has put himself front and centre in the discussion lately, I will make a few quick comments in rebuttle:

First off, he suggests that ECU has over 269 million shares outstanding, which is incorrect. There are about 230 million shares O/S, and about 250 million fully diluted. Its a significant difference since he wants to extrapolate costs and share issuance well into the future based on his own flawed numbers. And if he cannot even get the share numbers correct, how much confidence should anyone put in his other analysis?

Secondly, he frequently refers to the "25 millions of indicated" silver. Where does this number come from? Certainly not from the recent resource update that is pretty clear for anyone that wants to read it:

Measured Resource: 24,768,000 ounces of silver equivalent

But there is an Indicated Resource: 12,864,000 ounces of silver equivalent.

Maybe he does not understand what Meaured and Indicated means? There is no shame in that Latisha, let me help you...

Measured is a much higher classification than Indicated. With a measured resource there is sufficient data points, close enough spaced, that the resource is essentially confirmed. Within the Indicated category, it is just assumed.

Latisha makes the big deal about the 25 million ounces in the higher category, but ignores the additional resources of 179 million inferred ounces. A lower category indeed, but since Micon was the author of the study, it can be reasonable assumed that the resources are there. And since Velardena has been around for hundreds of years, and the workings extend more than 100 kilometres, I think we can all agree that there is ample evidence that a significant resource remains to be extracted on the basis of these numbers.

Now why would he want to suggest that the institutions are only interested in Indicated numbers? Since he does not even seem to know what these numbers mean, I am guessing he does not actually know any analysts, or speak with them. Did he make it all up when he stated his opinion, off the top of his head?

Latisha then goes on to prove that he has absolutely no clue how to value a stock, when he states this little computation:

"Now I am going to do you a BIG favor here I am going assume 200 million INDICATED ounces....instead of 25 million as shown in the 43-101 and VOILLA we arrive at 200 x $3.00 = $600 million value ...now divide $600 by 333 million eventual shares ( and it will be higher) and your VALUE TODAY IF IT WAS FULLY MINED IS $1.80 THAT IS WITH 200 MILLION INDICATED OUNCES instead of 25 million!!" - ENDQUOTE

Just for the record, no analyst will EVER assume an asset value is somehow representative of the value of a resource when it is 'fully mined'. Asset value is what a resource is worth, and the value net to a company in cash flow after mining is an entirely different calculation. Asset value is also based on the market conditions at the time, and is subject to change, in the same way that the 'asset value' of real estate in Japan for a small block of land was once worth more than all of California. I do not have a crystal ball, and neither does Latisha, but he wants to try and tell me what the asset value will be worth in several years. It must be nice to have a time machine.

Do your own homework people. Do not rely on the musings of people who do not have a clue what they are talking about. If a guy wants to put together a flawed analysis of the value of a stock, and then sell a large position for a loss, I guess that is the right of any investor to make stupid decisions. I would suggest that ECU has far more value than the numbers presented, and that value will continue to grow as more exploration work is completed. I would suggest that picking the most severe correction in 10 years as the time to sell your stock is probably not a bright idea either, and to try and assign a value to that stock based on the depressed values of the entire sector during that correction is also a bonehead move. But people are free to do whatever they wish with their money.

Latisha has lately been mouthing off about pumpers. I find that odd considering Latisha was pumping the hell out of ECU earlier on himself, and is currently pumping the hell out of GOG. Is this guy a bigtime hypocrite? So now he has sold and suddenly he can only say bad things about the former company he pumped away. And he has posted a couple dozen times. Why? If he has sold and ECU is such a bad company, shouldnt he just go read a book on how to analyse a stock, or maybe use his time trying to find a good company to buy, and the presumably go pump up?

cheers!

mike