Anyone know what is going on with this stock?
The mining sector is getting hammered and ECU is going the other way...
It's rather unusual I have to say given that I haven't come across any news...
Check out this link for info on ECU, copy and paste this address, Scroll down to the bottom for posts on the ECUXF message board.
ECU Silver added to the GDXJ index
Hattip to GWR1 at the Agoracom ECU Silver board
It looks like ECU has been added to the Market Vectors GDXJ index effective this Friday, June 17, 2011. This may acccount for the increased share volume activity. I have reviewed the Excel file and see that ECU will be given a weighting of .55%. This is a definite positive for the company.
Market Vectors® Junior Gold Miners Index (MVGDXJ)
The quarterly review produced 23 additions (18 Canadian stocks) and 4 deletions (all Canadian) from the index. The changes of the index components will be implemented after the close of trading on Friday, June 17th, 2011 and will be effective the next trading day.
Additions Estimated Demand / Supply
FVI CT Equity FORTUNA SILVER MINES INC 4,260,779
BCM CV Equity BEAR CREEK MINING CORP 2,612,782
MAG CT Equity MAG SILVER CORP 1,532,146
OK CV Equity ORKO SILVER CORP 4,391,395
GPR CT Equity GREAT PANTHER SILVER LTD 4,467,599
ECU CT Equity ECU SILVER MINING INC 10,657,909
AUMN UA Equity GOLDEN MINERALS CO 407,051
AVR CT Equity AVION GOLD CORP 13,222,891
TXG CT Equity TOREX GOLD RESOURCES INC 11,968,748
TRR CV Equity TRELAWNEY MINING AND EXPLORATION 3,874,626
AR CT Equity ARGONAUT GOLD INC 2,960,120
ATC CV Equity ATAC RESOURCES LTD 2,528,876
SUE CT Equity SULLIDEN GOLD CORP LTD 6,732,300
ORE CT Equity OREZONE GOLD CORP 2,527,123
PZG UA Equity PARAMOUNT GOLD AND SILVER 3,146,107
EDV CT Equity ENDEAVOUR MINING CORP 4,002,054
BRD CT Equity BRIGUS GOLD CORP 5,815,474
P CT Equity PRIMERO MINING CORP 1,937,853
ANV US Equity ALLIED NEVADA GOLD CORP 2,849,000
DGC CN Equity DETOUR GOLD CORP 2,226,000
ASR CN Equity ALACER GOLD CORP 9,581,950
EGU CN Equity EUROPEAN GOLDFIELDS LTD 4,778,200
Huge volume day on Friday.
Not many bullish indicators in the juniors these days,
but heads up on ECU.
Something big might be on the way...
goldenbear wrote: Huge volume day on Friday. Not many bullish indicators in the juniors these days, but heads up on ECU. Something big might be on the way... Any thoughts?
Today already 3 times the average volume of the previous 3 months.
We should be getting the drill results from the massive sulphides soon enough, which is the big news which is on the way. There was news on a high grade zone found on Nazas property today, and they mentioned that progress had been delayed on drilling the massive sulphides, but problems have been resolved and drilling resumed.
Thanks for the info folks!
Another great day for ECU.
It's almost scary, from someone who has been in and out of this stock for 3 years. Volume increase due to being in the GDXJ has really helped but, I wonder if the people in the know are accumulating in size awaiting the drill results from the massisve sulphides. This news will make or break this stock, it's why people have stayed invested in it for so long, me included. We've already gone past the 68.2% retracement from the lows to the previous highs, so it could easily complete a 100% retracement into the $1.30's without the 'Massive Sulphide' drill results. With positive news though on the drill results, I'm pretty confident we'll see $1.66 and beyond tested. I can't believe when I started with this stock it was in the $1.80's, loaded up once in the $.40's after the crash, sold out in the $1.20's, bought back in in the $.60-.70's and riding it back up again. I've been $4k-5k down on this stock and now up $4k-5k, Mr. toad's wild ride indeed, but you have to wait for the big dips to accumulate or you'll go insane when they test the downside, lesson learned. Anybody else have any upside projections???
ECU SILVER JOINS THE PGEN KACHINGO PARADE.
THE STOCK HAS SOARED ABOUT 65% SINCE THE START OF MAY, DESPITE EVERTHING ELSE TANKING, AND DESPITE SHORTY PANTS FUNDS TRYING TO PRETEND IT IS ALL A SCAM WHILE THEY NAKED SHORT IT. NOW IT IS IN THE GDXJ INDEX....SHORTY'S DAYS ARE NUMBERED...
DON'T TOUCH CORE POSITIONS NO MATTER WHAT HAPPENS
Ecu has been one of the most criminally naked shorted miners because they have one of the largest ag finds. I have followed/owned them, shares and warrants for years. Adrian Douglas and Bill Murphy guys were/are some of the largest holders......... so the attack began. The miners backed by the loudest vocalist in the pm community get hammered, TRE,ECU,UXG etc. I accept the banksters gift with deep gratitude. This is the real deal on ECU.
This stock has been heavily shorted for years perhaps with extra emphasis because Bill Murphy of GATA has often disclosed that it is is most significant position. I think that some people who do not appreciate GATA have punished ECU by extreme shorting.
All the info provided above in this thread is excellent. I think we are starting to see the shorts cover.
There is no author listed here but l believe it was a carbon based life form who was actually posing as someone else, this "person" has written several 'reviews" on ecu with the same bent, I believe the axe is now a pen knife. The other reviews it spewed were much more dramatic. It was outed on stock sleuth or something like that, they found that it was a broker or something in the biz which would have made it illegal - unethical to pen under a nom de guerre. This was quite some time ago so I don't recall all the particulars. I post this to illustrate what the gravy sucking pigs will do to accomplish they're goals.
Note ECU basically doubled from this pos til 12/10 peak .75- 1.35 now 1.08
be right sit tight
IKN has a post today that gives an interesting take on ECU.
Looks like ECU and Golden Minerals AUMN are combining companies, I have shares of ECU, wonder how this is going to turn out?
What? Wow the consolidation is happening already. Hmmmm. I thought they had a deal with Apogee before. Meaning Golden Minerals.
This significantly increases the land that the company will have. Wow. This could get interesting.
Just a quick run on the math from the press release. Looks like they are trying to get a 600 million dollar company. .05 a share of Golden for each ECU share. Gives about 15 million shares plus the 15 million shares of Golden = about 30 million shares. 600m/30m = 20 a share. By my math, it about equal. Meaning no real premium on the ECU shares.
Of course this is pending the approval of the ECU shareholders. I'd like to see a larger premium for ECU since it is ready to mine. Seems to benefit Golden from that perspective. And for every 100 shares = 5 shares under the new deal. We'll see. ECU could do just fine on it's own IMHO.
Anyone else want to weigh in on this deal? It will be interesting to see what the GATA guys might say (since I think they own a ton) and of course Marco G from Seeking Alpha has been a big proponent of ECU Mining.
I thought ECU was worth a lot more as well, and they are in production. But when you think about it, the combination of these two companies with the assets in the ground they have, makes this new company a winner. Any idea when the properties that AUMN owns could get into production? Either way, 600 million market cap is too cheap here!!!!
@zman I thought I read when I was doing some DD on Golden that the Mexican property might be up and running late 11 maybe early 12? I'd have to look again.
Mexico is Advanced Exploration and Argentina is at Feasibility. So, yeah I don't see anything until 2012 mid year. I guess we can always count on their royalties for now? LOL.
Yeah definitely favors Golden over ECU. My guess is the premium will be raised for ECU. I could be wrong and that is ok. But with them being ready to mine and the latest corporate preso saying 1.4 oz silver equivalent per share methinks that there may be a premium offered. I mean that indicates about $50 a share. This will be interesting.
I'm not happy. I've held on to this stock for almost three years, through the crazy ups and downs and this is all they fetch at the deal table? Unbelievable. What happened to all the naked shorts, wasn't covering going to send this stock to the moon someday? I own 30,000 shares of ECU, that gives me 1500 shares AUMN plus a whopping check for $11.32. Not much of a risk premium for sticking with them through a silver price slingshot the last year. At first glance, I'm very disappointed! Someone please tell me I'm missing a Silver Lining!
Since this was announced on a Friday, I think this is just the first round. We'll have to wait and see.
Not at all happy either however this is early days and as a producer with possible extraordinary drill results arriving soon I think ECU should do a lot better in the months to come. Think I'll up my position.
Don't like AUM's Peru position but will assess in some more DD.
Golden has a hell of a lot of land. I do like that about them. So, their projects in the pipeline will remain full at all times. My guess is that they want to leverage the ECU mining profits to advance their other projects and expand exploration. I get it. I'm just saying that ECU brings a lot more to the table since they are already pulling ozs out of the ground. So, I am still hoping on a premium. Or maybe a bidding war! A guy can hope no?