ECU
posted on
Feb 20, 2009 03:25AM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Guys (we are all guys here, isn’t that a bit weird? I guess not, we are the hunter gatherers right?!)
Only second-time poster but long-time shareholder, bought most at 35c and a bit more on the up and more recently at 56c. ECU is the majority of my savings now after my uranium stocks got viscerated. It is very frustrating to see ECU descend on a ski-slope after soaring on a parabola but my conviction is still strong, and I (now!) recognize that scoping out and mining a resource like ECU’s is not an overnight job. To those who wish Bill Murphy had never mentioned ECU, I say without him I would never have found ECU, he puts his money where his mouth is after a balanced view of the FACTS and all power to him. I’m bitter about the government intervention which ended the market-led short financial/long commodities trade which I believe had a lot to do with the forced liquidations on commodities and miners in particular, but all this means is that when the market reasserts itself the upshot will be a moonshot. Argoz’s thorough analysis has made it abundantly clear that we are sitting on a silver mine which has massive potential, within reach, and I do believe that the men at ECU have the abilities to realize that potential. The recent placement was unfortunately a necessary prostitution of ECU’s wears in order to safeguard future cashflow (and possibly survival given the crumbling credit markets) and I believe will be seen as wise in the long run. My only fears are on outside interference, whether that be the Mexican government or any other government stealing from people like us to bail out those who made stupid decisions, or a takeover which exploits the low-price circumstance (my vote will be no), which is why I worry a little bit about Ag itself going ballistic too fast.
So I sit and I hold and I will wait for $20 and when it comes we are going to have the party to end all parties.
I particularly thank GWR, Argoz, Coach, Hobbers, Pic, Sharky and others for your inciteful comments on this forum and anyone I may have missed inadvertently thanks also! And thanks to Agora for a forum which sifts out the scum.
I thought I was The Man after watching ECU soar like it did but this fallback is humbling and gives me a bit more knowledge to pass on to my son, goodness knows what kind of world he’s gonna have to deal with.
One last thought/wish would be for the shares to be pared back on a 10/1 ratio, I think this would give us a much tighter band of warriors to ward off the evil Bay/Wall Street hoards.
Good luck, hopeful that patience will reward all ECU shareholders.
DNB