In fact Argoz your quick review is even better than you suggest because Micon not only assessed 217 million silver eq. but agreed to a further 800 million ounces potential and you are correct, without some very solid data and modelling they would never have signed their name to that report. They are a world class engineering firm with a stellar reputation just like TD Bank with their conservative $3.50 target and Blackmont with their $2.95 target. Wouldn't the fools here get a nice surprise with a quick turn around of another revised resource report in say 4-5 months time showing serious early progress at converting resources to inferred and M&I. I also note that TD factored in a financing of 6.7 million shares into their model already based on some assumptions they made to arrive at the $3.50 conservative target.
The silver prices paid by Hacla provide some good insight into what the market is paying for silver, thanks for the post. I also agree with your forward view on comodity prices and expect a positve impact from future higher silver and gold prices in what is paid in a takeover. So much silver eq. onces and so many options, this makes ECU one of the premier growth and development stories in it's field meaning accessing capital will like a walk in the park whatever approach the company pursues including putting the present mill into production to generate cashflow.
