Okay, so the special warrants are deemed to be exercised. Next 10 days or so, watch the net outstanding short position for ECU collapse as these new shares are handed over to cover shorts. The net result is that shareholders got screwed again. Do not misinterpret my posture to be bearish. ECU needed to raise money and each time this happens we get hosed as another chunk of cheap paper gets washed through the market and crushes the share price. At the end of the day, this nonsense will end when the company can establish an operating profit from the mining activity so that they can pay off the debt and fund the ongoing development. If I did not have confidence they would do so, I would have buggered off from this story a long time ago.

All the pinheads that seem to make a career out of bashing this stock have at least one thing right: the company needs to get its mill tuned and running optimum pronto. Thereafter we can relax and perhaps actually look forward to making some money off this stock. I think this is the point of inflection, as I have posted before. This year ECU will either achieve positive cash flow, or its time to just accept the biz model is flawed and perhaps entertain a buyout offer from a party that has the funding to make it all work. The death-by-a-thousand-cuts of never ending placements has pissed me off beyond belief and this is the last time I will put up with being screwed by institutions that short the hell out of the stock 5 minutes after a deal is announced.

cheers!

mike