What's the big deal with the first quarter results. Completely useless. The company being an "explorer" cannot account for income, but threats any cash inflow as a reduction of capital expenses. Profit is not a possibility.
Now, how will the shorts handle any news. Hopefully let's hope the 5 "sister" holes prove succesfull. Assuming that they do, does ECU have the ammo the defeat any further short attack. Are the rumors of a 20 to 25MM naked short position accurate? If yes, what's to keep them from shorting to infinity? No regulatory agency will lift a finger to do anything. Is it possible the the market is anxiously awaiting these results and any positive news can bring on a deluge on buying?
Also, how long before we get more results, 2 weeks, 1 month, 3 months... I recall in 06/07, the stock would be halted so often given drill results that even on down days the stock would always close strongly. Obviously any shorts didn't want to get caught with a halt the next morning.
But yet last November, ECU reached $1.40 on virtually no news. Where were the shorts then?
All rather confusing; from $3.60 in 2006 to 80 cents today yet POG doubled (app $750 to $1,500) POS increased from $8 to $35, and we obviously have more proven ressources than in 2006.
In a funny strange kind of way, I'd rather they have no results published till we have a definite reversal in the Juniors market, and they're able to align results in quick intervalles.
Later