Hi Ed!

Well its great to see good news come out on day when gold and silver are going nuts too.  ECU has been driven down for weeks and this is the first piece of news that we can now gauge the strength of the market.  I expect to see the stock bounce nicely today, and some short covering will provide part of that upside.

The numbers are pretty much in the range that I expected.  Having Micon as the consultant will add more confidence to the estimate.  The potential resource category is what should get noticed, since the upside number presented was somewhere in the range of 800 million ounces, which is world class.  If the institutional types were waiting for a confirmed bigtime resource, this is it.

There is a lot of info packed into this news.  I am excited that the skarn zone is not even considered in the resource and that the company has disclosed plans to test this in 2008 with some drilling work.  I think its also worth pointing out that the resource estimate has documented that the cutoff grade was appropriate because the ore was tested using the recovery circuit to establish the data for recovery efficiency, so its more than just the usual guess that is backing our numbers.

Not a bad year to prove up more than 100 million ounces of silver.  ECU stock has taken a big haircut during that time, but anyone who suggests the longs were 'wrong' to be bullish is talking out of his hat.

cheers!

mike