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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Message: for the record

for the record

posted on Sep 24, 2009 07:10PM

ECU is hiding nothing and those who suggest otherwise simply either don't understand the public company process or don't do the proper due dilligence like reading the financials, etc. and want everything on a silver platter. ECU is required by law to produce quarterly statements and they must be filed within 45 days of quarters close and 60 days of year end by TSX rules. These reports are rigidly and tightly audited by an independant accounting firm on an annual basis subject to delisting if there are any problems.

I also note the company doesn't have a pre-feasibiltiy study so is restricted from providing profit and revenue forecasts by AMF rules in Quebec where the company is domiciled. The company would love to talk more about these things but are restricted from doing so. Hopefully this will change with the future release of an economic study at a sufficient level to allow forecasting.

The company will talk about future exploration plans when they are in a cashflow positive position to carry out those plans because to do so earlier would produce false expectations and invite comments such as posted today from the usual complainers. Who wants to hear talk about something that requires capital that is not yet available. In my view the company is getting close to being cashflow positive and I would expect they will gladly let us know when this occurs.

In my view there are some real easy holes that can be drilled to increase the resource and provide exploration excitement to the story, unfortantely I don't know any holes that can be done free as the capital so far available this year has gone to mill acquisition and startup, mine stope development, refurbisment of the mill, operating expenses, etc. This program is essential and all monies need to stay focussed on this priority until cashflow positive position is attained.

I saw some very rationale and well stated posts here today and it's a pleasure to be in this ECU story with such intelligent and helpful people who give so generously of their time and knowledge and ask for nothing in return.

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