I agree with you Moose 100% that this financing provides the company some breathing room and an opportunity to get back to exploration sooner as well as buy the extra equipment needed to operate both the oxide mill and sulphide mill and new tailings circuit which combined will process over 1200 tpd.

I can say that numerous Baystreet brokerage firms contacted the company after the Q3 report offering to do issues and they were rejected because at that time the company was going to stick to it's plan of building the balanace sheet through production and time. These very same firms might have started a rumour or two about a financing simply to try and get one. The very fact that the stock was abruptly stopped at .90 cents made the company reconsider this approach and want to get back to exploration and production expansion sooner than later to make the market move the stock higher.

For those who think this placement was some planned event to get cheap stock, think again, you couldn't be more wrong. For those who sold stock to drive the price down from breaking out over .90 cents, you are responsible for this financing price, CONGRATULATIONS !!! You are now a member of the ECU short/manipilation club.

It's true that the company identified a small shortfall that needed to be filled to protect the interests of shareholders but this was really quite small. In the end the company decided it was in shareholders best interests to move forward at a faster pace (as some on this board have been wanting) than the building of the balance sheet through production would allow and this occured after the share price driopped away from .90 cents. Many people were requesting exploration sooner and this required capital sooner so the size of the financing increased in the last few days.

The fact that it is done with no shorting, no Baystreet firms, closing in one week, tells you the about the long term committment of those providing the capital. It may also tell us that if the company had not acted to strenghthen the balance sheet now these Baystreet thugs and hedge fund sharks may have tried to drive the share price down as demonstrated this spring. I suggest people think a little before denigrating ECU management, they should be supported.

This company is grossly undervalued and management and many shareholders of ECU are committed to seeing this change and having shareholders get value for their investment.