I just had an email exchange with a guy I know about ECU. He forwarded this summary from Seeking Alpha:

ECU Silver - Strategy: Short Everything but the “helicopter”..This company is a silver producing company that trumpets its production but doesn’t include said production in its earnings statement The company is highly indebted with interest payments per quarter that currently exceed its entire cash holdings Recent results showed continuing losses despite “forex gains” which presumably come from revaluing the debt Production, for what its worth, is feeble to say the least and artisanal at best Executives at the company are at the trough for options in a massive way for a company with ostensibly no production and little prospect thereof. They are paying themselves as if they were working at a successful major rather than a teetering junior The company needs some money fast for debt repayment and servicing so shall need to issue shares in the very near future+The inferred resource at ECU Silver’s Mexican project is very large however the company likes to rhapsodize about its massive sulphides, which unfortunately are at 1,200 Meters (nearly 4,000 ft) underground

Love to hear opinions.