Despite pressure in gold/silver, ECU rallied 8 cents to a close of C$.69.

Ironically, the impetus was provided from a buyer through ML(39), who, although he only purchased 6500 shares on the day, also placed scaled up 3 X 100,000 share bids at C$.65-.67 at 12:50pm EDT. We will find out tomorrow whether those bids remain as GTC.

This forced numerous buyers to step up at mid-day from many different firms like Anon, Scotia, Jitney, CIBC, BMO, and HSBC---most likely, short-covering.

Whether this is a start of and aggressive, multi-day, short-cover campaign going into the merger, remains to be seen.

For the time being, we will take it and watch as trading unfolds Tuesday.

Silverbull50