But it is what it is.

Reality #1.

The market for juniors sucks big time. You can argue til the cows come home why that is, but the fact remains: It sucks.

Reality #2

The market perceives Ecuador as risky. We know it's not that bad, but what we think doesn't matter. The market says it's risky, therefore it's risky.

Reality #3

Bank lending is tight. The money center banks are all drowning in bad paper. New money entering the system is going to shore up their balance sheets, not to make new loans. This will not change anytime soon.

Reality #4

Multi-million dollar loans to develop gold mines in places the market perceives as risky are hard to find nowadays (see above). Any loan you can get will have so many strings attached that you may as well not bother.

To Summarize:

In a depressed market, in a location perceived as risky, and with bank financing unavailable, what kind of bid would you expect, and what kind of ask would be accepted? This assumes that you've already decided to sell. If you weren't selling, and you still had cash on the books, then I guess you'd just wait out the market, no?

Or, you'd come up with a plan B. Now, it would have been nice to have actually had a plan B - to have forseen all this and been prepared - but better late than never, I always say. We're assuming here of course that selling out for a pittance isn't plan B. It may be a plan, but it certainly isn't plan B.

So, given all the above, including the fact that you have a ridiculously low offer on the table that demands a quick response, what then do you do? What possible alternative can you come up with that constitutes an actual workable plan B, and not just wishful thinking?

Well, we have a plan B Here it is:

http://tinyurl.com/5lopjsl

If some one has a better plan, let's see it already.

Otherwise let's stop mewling like newborn kittens over how bad we've all been treated, and start acting like serious business people with a realistic plan B response to the situation. Otherwise we are going to lose this sucker, or at best be vastly undercompensated for it.

I don't want that to happen, and neither, I assume, do you.

ebear