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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Message: ECU Stock Vs physical silver

ECU Stock Vs physical silver

posted on Mar 31, 2009 08:14PM

The price of silver is currently $12.97 per ounce. Silver eagles on sale are $3.49 over spot. If you can get a 100 ounce bar for $2 over spot you are doing well. So lets just say that silver costs the retail investor $14.97 per ounce. According to ECU's NI43-101, ECU has 1,683,216,000 ounces of silver equivalent using M,I,I +Max Potential (There is probably more than this). I read from another post that ECU's share float is now about 291,000,000 shares. This means that each share represents 5.78 ounces of silver equivalent. ECU's share price closed today at $0.46 canadian which is $0.3629 U.S. This means investors can either buy an ounce of silver for $14.97 or 41.25 ECU shares for the same amount. These 41.25 ECU shares represent 238.4 ounces of silver equivalent. This is a phenominal value for ECU buyers. How do you lift a big rock? Leverage! If you had 2,384 ounces of silver buried in your backyard would you trade it for 10 ounces in hand or would you dig it up?

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