I can't speak for the coach, but my own feeling is that the message he was trying to convey was not as pessimistic as his delivery.

While it IS true that 150g/T average over the mining width may not be profitable at $20 silver per ounce...(We know it wasn't profitable at 2008 prices)...I am buying SILVER-IN-THE-GROUND for the future...and the "future" many be NOW...

ECU mines 820 ton/day...which at 150 g/T = 4000 ounces per day.

ECU would produce $40,000 per day for every $10 increase in the price of silver, and if they milled for 30 days per month, would add 1.2 million dollars per month to the bottom line.

So a rise in silver price from $25 to $35 like we just had adds $14 million to ECUs yearly income!

That changes ECU from a break even position to a $14 million profit/year position (roughly speaking - all ore is not silver, and costs probably rise a bit as well)

But U get the picture!

(GPR just made a $5 million profit and the stock took off!)

At silver $100 per ounce, ECU profit just rose another $80 million or so/year.

With increasing mill output and a billion potential ounces, ECU's future looks very profitable indeed....even with the narrowest of veins. Then there's the skarns, the stockwork and the mantos! It's all money in the bank - NOT fiat.

lotus petals,

gildage