What's up with ECU?

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Mon, Jun 27, 2011 - 10:58am
goldenbear
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According to Stewart

According to Stewart Thompson, Eric Sprott loves the deal between ECU and AUMN.

"An error does not become a mistake, until you refuse to correct it."
Wed, Jun 29, 2011 - 11:45pm
SoccerDad
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MIDAS Report weighs in

OK, I guess numbers 4-8 have me convinced it's probably a good deal for both ECU and AUMN.

From tonight's Midas report on the proposed merger

By gwr1
posted on Jun 27, 11 07:52PM
Dear Clients,
On Friday June 24, 2011, ECU Silver Mining, Inc (ECU) and Golden Minerals Company announced a definitive agreement to combine the two companies, representing a merger of equals and, "creating a new leading junior silver mining company with a portfolio of growth projects, primarily in Mexico and Argentina. The company combined will retain the Golden Minerals name and remain headquartered in Golden, Colorado."
For many months, ECU President, Steve Altmann has sought a business combination in order to strengthen the company and enhance shareholder value.
In my opinion, this is an extremely positive development and provides the following benefits to ECU and its shareholders:

1) Removes the $16 million debt from ECU’s balance sheet.
2) Golden Mineral’s $104 million cash position allows ECU the capital to further develop mines and expand production at Valardena.
3) Golden Mineral adds a highly qualified production management team to ECU’s equally-talented exploration team.
4) Since ECU shares (currently valued near $1/sh.) will be converted into Golden Mineral’s shares (currently valued near $20/sh.) on a 20:1 basis, it will remove the massive float of ECU’s 317 million shares outstanding which allowed the hedge funds to manipulate the stock via naked-short positions.
5) The combination will allow much greater access to the capital markets for future growth.
6) The merger will provide much greater institutional and analytical support.
7) The combined company will now be listed on both the NYSE AMEX and the TSX providing increased liquidity and visibility.
8) Golden Mineral’s mine portfolio contains a (potentially) world-class El Quevar Project in Argentina which provides further geographical diversification to ECU’s Mexican-based mines.

The transaction is supported by both Boards of Directors as well as major shareholders of both companies. It is expected to close in late August-early September, and proxies will be mailed to shareholders for voting in July 2011.

Wistar W. Holt
June 27, 2011
wholt[at]holtshapard[dot]com
https://agoracom.com/ir/ECU/forums/discussion/topics/489768-from-tonight-s-midas-report-on-proposed-merger/messages/1567800#message

Thu, Jun 30, 2011 - 12:55am SoccerDad
TheGoodDoctor
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Thanks SoccerDad! I'd give

Thanks SoccerDad! I'd give you more hat tips if I could on this post!

“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.” Norm Franz
Sat, Jul 30, 2011 - 6:08pm
Doople
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July Performance

What a month for ECU. The price of silver is up 16% and the stock tanks to 0.74 off 24%.

Sat, Jul 30, 2011 - 8:17pm
Super_Douche
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Not sure?

It's not just ECU. It seems like the mining sector as a whole has been beat down. I'm not sure why this is, but I think it's people waiting to see what happens with the debt ceiling. The Mighty Turd has stated many times they will raise it, but this is not common knowledge among most people. Too many of the sheeple watch the mainstream media, and think that somehow Washington might do the right thing. Hehe, that will be the day!

Everyone here should know by now what path our supremely intelligent politicians will choose. We should be loading up while the mines are cheap. If a stock is dropping it has no affect on earnings. The mines are racking it right now, and it should only increase as our situation worsens. Earnings will keep increasing, and valuations will get better and better.

This is just what I think. I am not an "expert" and could be totally wrong. However, I am 90% sure we will all be much wealthier by December. Just hang in there, and don't forget to buy physical!

"There is no inflation and unless we get some soon we will all be in trouble." -Paul Krugman
Sun, Jul 31, 2011 - 6:20pm Super_Douche
Doople
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I did not make myself clear.

I did not make myself clear. I own 8 silver miners. Some were down 2-5%. First Majestic was up 21%. SLW, SVM, USSIF were all up on the month. ECU stood out for its poor performance by a big margin.

Sun, Jul 31, 2011 - 8:30pm Doople
TheGoodDoctor
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Could be the upcoming merger

Could be the upcoming merger with Golden Minerals?

“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.” Norm Franz
Thu, Sep 22, 2011 - 10:44pm
JoeyJoeJoe
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So Golden Minerals fell

So Golden Minerals fell 19.11% today... OUCH.

Fri, Sep 23, 2011 - 1:20am JoeyJoeJoe
TheGoodDoctor
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I'd buy more if I could right

I'd buy more if I could right now. I think this one will be a winner long term. Too many great properties.

“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.” Norm Franz
Fri, Sep 23, 2011 - 11:28pm TheGoodDoctor
JoeyJoeJoe
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Sale

I've just been mesmerized at the miners that have been on sale these past two days... it was a really difficult choice choosing which to get it. I chose almost according to what sold off *the most* as a relative value. Still got a bit of cash left... let's see what Monday brings.

Thu, Sep 29, 2011 - 2:10pm
goldenbear
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Golden Minerals seems to just

Golden Minerals seems to just keep make fresh lows. WOW!

More downside risk? or are we due for a bounce?

"An error does not become a mistake, until you refuse to correct it."
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