I agree Coach this deal is no benchmark at all for valuation purposes of ECU or others and Penoles knows they could never be successful in this kind of attempt at ECU. I do however think that ECU could go it alone, if they so choose, with a scaled approach as they have a large and well trained work force in place with years of experience at Velardena and a large area to draw on for additional workers if required. This is not rocket science.

The good thing with ECU is that all the options are open with present small scale production while a very large resource is progressively being defined to higher levels of confidence. Based on the exploration success since the last 43-101, I'm very confident of a good report shortly but only view it as just one more step of many yet to come before the resource is fully defined at Velardena.