I would concur with your sentiment Mrsoul as I have observed ECU shareholders and goldbugs for that matter as a stubborn bunch who have distinguished themselves as informed and independent thinkers. Some people whose opinion I highly respect have suggested this may be the reason for the prolonged consolidation period in the junior mining sector. The small group of longs simply refuse to be scared or shaken from their positions.

It certainly feels more reassuring with the share price at $0.75 versus $0.50, however as you indicated, ECU remains extremely undervalued in light of the current economic and sector fundamentals.

In his outstanding breakdown of ECU's September production values, Argoz suggested the total cost per equivalent ounce silver could theoretically be as low as $9 per ounce. Subsequently, a 50% increase in the price of silver should translate into a 100% earnings increase (assuming stable costs). This "leverage" is one of the reasons why juniors have previously been preferred over the bullion and more recently ETFs. Throw in potential for extensive resource upside for real reserves/resources and you have juniors that move in multiples of the underlying commodity.

Now that the 200 dma has fallen, $0.90 still remains as a key level for ECU. After that it is the 2.5 year downtrend.

The losers on chithouse should be out of work soon enough.