This battle for ECU is like a football game. The only problem is the shorts naked short, borrow shares from investment funds, and short them in opposition to the funds clients, paint the tape, and slander the company and its investors on chatboards and in articles, and there are no referees (SEC) to inforce fair rules. It does not matter though; the shorts days are numbered in this company. The last week of share price drop concurrent with 2 bullish news releases is just behaviorial psychology like the big guys use against gold on bullish market events and news releases. They probably paid some borderline personality wall street tactics guy $500 an hour who told them that a falling share price on bullish news would break the will of the ECU longs.

In complete contrast, the Q1 MD&A and last 3 news releases tell me the shorts are going to get routed. We added 3 experienced managment level personel which shows we are in a stong growth phase. We produced and sold over $2 million of metal in April, and are now undoubtably profitable. We continue to discover better grades of gold and silver at depth.

We are currently milling 750 tonnes per day and are making a profit at it. They can prepare studies till the cows come home, but I say if we are profitable at 750 tpd, we will be more profitable at 2,250 tpd (1500 tpd mill added), and even more profitable at 5,750 tpd. We have the tonnage to support these larger operations. We also have the gold pyrite sales to add to our profitability soon hopefully.

With our profitability we can continue milling the 750 tpd and use the profits to either pay for further drilling or to pay our long term debt, but we probably will not have enough money to pay for both. Our choices then will be do we roll the debt and finance the 1500 tpd mill, or do we float more shares and pay for one or both of these items. It would be much nicer to sell shares at $2 or $3 than at 70 cents a share.I hate to bring up another placement, but think it would be a good move if it buys us a 1500 tpd mill at a good price. Regards.