I think shorts are overwhelming buyers at the moment

a) some analysts have been talking about a top in equities for some while, and speculators will be worried about being caught in a sell off like 2008

b) ECU have disappointed with some of last quarters numbers. This should now be totally factored into the share price, unfortunately is was released quite early compared to the release of the actual financials, due the end of this month - that's any time over the next couple of weeks. What I'm looking for out of the release is some really positive response to the problems they hit with production, and some strong positive guidance going forward. They need to show risk is on the downside here-on-in.

c) Drilling results, as they extend measured resources it will enhance the value of ECU in terms of a potential buyers being interested in ounces under the ground. Once it becomes obvious sitting on the share price won't do anything for them, we have rising pm prices, and risk is to the downside, shorts will be encouraged to cover.

The differential between ECU and the rise of other companies should give us an indication of how to value ECU with shorts covering. On a production basis though, the volume they'e going to be able to produce with their current facilities isn't going to be mammoth, but it will be important to find out what the operating costs are likely to be now and moving forward. Management suggest rich veins = low cost mining, but investors need to see some evidence of it.