This was posted on the SH board and confirms what many of us believe could be the start of a major move for ECU.

Dear member,

As of today we will add ECU Silver Mining to our GOLDDRIVERS Model Portfolio section Juniors, high speculative. ECU Silver has made a major double bottom recently in the low $1.30's range and on the verge of breaching its 18 month down-trend to the up-side. which makes it an attractive BUY for investors who want to BUY or ADD to their existing positions, see more in TA chart below.

ECU Silver has been expanding its silver resource base at a stunning speed ever since early 2006 and is sitting now on a compliant resource base exceeding 200 million ounces of silver with further up-side potential to more than 900 million ounces. The odds are ECU silver could double its current compliant resource estimate with ease which should be a wake up call for the investment community.

Adrian Douglas of www.marketforceanalysis.com shines an extensive light on current developments with ECU Silver in his piece 'ECU Silver Mining - An Extraordinary Junior Mining Company'. Adrian concludes that ECU Silver is extremely undervalued at current levels and explains in great length why.

We're greatful that Adrian has given permission to share his piece with us, you can read it HERE

Excerpt ECU Silver Mining - An Extraordinary Junior Mining Company
by Adrian Douglas - July 05, 2008

When I wrote my article in October 2006 the silver price was $11/oz and ECU had only 98 million ozs of silver equivalent of NI-43-101 compliant mineral inventory comprised of:

• 17.4 million Indicated silver equivalent ozs.
• 81 million Inferred silver equivalent ozs.

The stock was trading at CDN$2.50. The company has now booked 217 million silver equivalent ozs of NI-43-101 compliant of mineral inventory comprised of:

• 37.6 million Measured & Indicated silver equivalent ozs.
• 179.0 million Inferred silver equivalent ozs.

The Company has also identified an additional mineral potential range of 549 million to 960 million silver equivalent ozs yet the stock is trading at $1.68! Furthermore, the silver price is $18/oz. ECU stock is probably at least a factor of 10x undervalued and should be trading at closer to $16 than $1.68. The fact that ECU has been categorized as a thin vein mining play has unjustifiably held down its valuation. The current deep drilling results could dramatically change ECU's prospects. The discovery of massive sulfides in a large lens with extraordinarily rich grades could transform the company's fortunes and the true valuation of the company could be recognized by the market in explosive fashion.

END.

Entire piece click HERE

Technical view:

The monthly chart below clearly demostrates the deepest over-sold condition for ECU Silver in the last 6 years. Current over-sold condition is reminescent of the one in summer 2003 and summer 2005. In both previous cases this marked the start of a powerful rally in which ECU appreciated by more than 1000+% in just 8 months time. Sure enough I'm not predicting a 1000+% rise for ECU over the next 8 months here but it should be obvious that the best BUY opportunities do occur at over-sold conditions like we're witnessing these days.

Best regards,

Eric Hommelberg
The Gold Drivers Report

www.golddrivers.com