Wow, this was really a good run of silver yesterday - closed at 28.09 at the last day of November - the highest closing in many years...

Now, the second month of Q4 is over, so let's see what has changed compared to Q3:

Average silver-price:

Juli/Q3: US$ 17.93
Oktober/Q4: US$ 23.44
UP US$ 5.51

August/Q3: US$ 18.43
November/Q4: US$ 26.61
UP US$ 8.18

This means an average up of US$ 6.845

The production/shipments in Q3 where 418'553 AgEq oz.
This would mean 279'035 AqEq oz within 2 months.

279'035 * US$ 6.845 = US$ 1'909'996.85 (more within 2 month).

So let's hope that ECU could take profit from the silver/gold-prices the last 2 month.

The next payment of US$ 1'000'000.00 for the mineral concession in November 2010 should not have been a problem... :-)
And also the loss in Q3 of CAD 971'690.00 would be gone....
and still one month to go...

And my hope of more production in Q4 also does not look bad, when i think of the different posts yesterday.

September/Q3 had an average silver-price of US$ 20.60. Let's see what it will be in December. The start really looks good, i would say.

Regards