"The Combined Company’s basic market capitalization will be over US$600 million, based upon the closing trading prices of ECU and Golden as at June 23, 2011, with an expected increased liquidity profile on both the NYSE Amex and the TSX."

Shockingly, despite a 18.5% rise in the price if silver since the close on June 23, 2011, the Combined Company’s basic market capitalization would now be approximately US$429 million as the share prices of both entities have dropped roughly 28-29% since the close on June 23, 2011.

The company has a responsibility to its shareholder's to address this at once. A press release should be issued and the company(s) should consider buying back shares at these lower levels and/or issuing a small dividend.