"Together with our growing mineral sales, this financing gives us the platform to enhance our existing operations and complete the transformation of ECU into a "self-funding exploration company". In this way, we will accelerate our planned exploration program to enhance and increase our mineral resources.""

Pic, the release said exactly what you've confirmed. But you've confirmed it with management, who said it in the first place, did you expect them to say something completely different? Large shareholders are on board, too, as they stand to make a nice deal here - they've been patient and certainly held on for many years, so I've got no problem. So, what exactly have you learned that got you on board with this offering, must be something other than what you posted, unless you didn't believe what management said in the release.

Like I said, I've seen this so many times in so many small Canadian companies over the last ten years, it's absolutely routine. I never doubted their motives, but am almost always disappointed in the terms of the offering, but have long since given up getting upset over it. If you want to play in this market, it's just part of the acknowledged manner of doing business. I think Noront did an offering about 2 years ago or so that surprised heck out of me, it was one of the few I can recall where the price seemed pretty good for the company and non-participating shareholders.

If they need the money to accelerate stuff, great, the stuff should be good and acceleration of good stuff should be good - so do it, ECU, and let's get some results of having done it on an accelerated basis.