Hey Mike,

I was talking to good friend of mine, who like me also happens to be invested in gold and silver juniors for over the past 7 years now. I mentioned how almost every junior had its day at some point (pre 2007) as it was just a matter of timing. The moves were impressive at the very least, and with cases like Aurelian, the rhetoric like "to the moon" really did apply.

I also remember when the "leverage" provided by the juniors actually meant something. If gold was up 2%, then it was not uncommon to see many of the juniors up 6 to 10%. That is one of the reasons I went with mining equities and not physical.

The stocks seemed to move more freely then, without the relentless pressure from "not for profit" sellers who have seemed to overwhelm whatever new demand appears. Juniors would take off on good news instead of selling off as we have seen over the past 3 years.

I do get a sense that the pendulum has changed directions, however, its seems to be a slow process. And where are all the new investors? Most of the people seem to be the same blokes like us who have been around the junior sector for the the past 5+ years.

In spite of all this, I am quietly confident that the juniors will have their day again (including ECU). I think babaoriely's "show me" attitude has rubbed off on all of us.

sketch