Good post Moose. There certainly is a very large discount incorporated into your numbers with the 61% figure. ECU is a very low cost producer right now on a small scale, one of the lowest, and would be very highly profitable with a larger operation even with today's low prices for silver/gold/base metals. The low cost roasting solution outlined by the company during testing of the pyrite con that they have reported on will soon provide a very good revenue stream from the gold production and complete the commercial circle for all concentrates produced by ECU. This lays the ground work for a much larger scale operation when the company determines the timing is right.

Large and building resource success combined with proven saleable product, a well trained team of 250 people, politically secure environment, excellent infrastruture next to mine and mill site, huge underground development in place already, minimal metalurgical issues, in place production now and a sound development plan means a much higher share price going forward especially when this market turns for the better.