After getting over the initial shock of the timing of the nr, I have decided that I don't mind it. What Michael and Stephen have done is reward employees for their hard work and efforts in getting the company moving forward in 2009 from being an exploration company to a gold and silver producer. What has ECU achieved through these efforts? Well, they have:-

1. Purchased a mill back from Hecla (that was originally theirs, I know, but that is history). This takes efforts, negotiations, attention to details, time.
2. Negotiated with money vultures a share/warrant issue to finance the purchase of the mill. This was not too well received by those who didn't understand, and manipulators have had a field day with the share price.
3. Worked their butts off to get the mill into good operating condition. Efforts continue to maximise throughput and output.
4. Demonstrated that the mill can consistently produce dore. A lot of skill and effort goes into this operation, and they now have four months production experience under their belts.

I hope that the 10,825,000 options are given to those who made the above possible. Nothing makes good employees more that recognition and reward of hard work and good results, and where we are today shows.

As for the timing. Well a Saturday night is certainly unusual. That having been said, I think that the nr is a bullish sign. The stock price action last week was very good, breaking out to the upside. This, I think is what inspired the timing so that the best (ie lowest) option price could be be given, ie employee reward is maximised. I think that management expects the share price to appreciate significantly presently and in the future, and have taken this opportunity to get the lowest option price for all who will recive them. Who in the company receiving these options would argue with this, and once issued, whether $0.60 or $1.60 or $2.60, what difference does it make to existing shareholders what the option price is? None.

My disclaimers are that - I am retired from the workplace; I have no association whatsoever with ECU or anyone in management. The above is also only my opinion and if you disagree with it, fair enough. I don't intend to justify it or get into any kind of derogatory discussion.

Cheers. Enjoy the rest of the weekend. Next week should be interesting, as always.