The latest MD & A and Interim Financial Statements have been posted on Stockwatch, and should be available on the web site and SEDAR soon, I would think.

First paragraphs (no formatting needed)

PERSPECTIVES
In the second quarter of 2011, after considering different strategic options for the company, ECU announced that they it had entered into a definitive agreement to combine with Golden Minerals Company (“Golden”) through a merger of equals to create a new leading junior silver mining company with a portfolio of growth projects, primarily in Mexico and Argentina.
The combination of the two companies will create a new leading junior silver mining company with an attractive portfolio of assets consisting of the silver mining operations in the Velardeña mining district, Durango, Mexico; the El Quevar advanced exploration project in the Salta Province, Argentina; the advanced exploration-stage Zacatecas project in Zacatecas, Mexico; a number of drill testing projects in Peru (Cochabamba, Jehuamarca), Mexico (La Pinta), and Argentina (Atlas); and a large portfolio of approximately 40 exploration properties in the reconnaissance/target delineation stage located primarily in South America.
The combined company will have greater scale, financial strength and an enhanced capital markets profile with sufficient cash to advance expansion plans at Velardeña and the continued development of El Quevar. In addition, the merged company will have an expected increase in trading liquidity as it will trade on both NYSE Amex and the TSX, improved access to global capital markets to assist future growth efforts and potential expansion of broker research coverage.
A significant advantage is that the transaction combines complementary management teams with proven track records of success. Golden’s management team has strong expertise and a proven track record in mine building and operations, which will help to optimize the potential expansion of the Velardeña mining operations. ECU’s exploration expertise will further enhance exploration efforts at El Quevar, Zacatecas and other drill testing projects across South America.
Also during the second quarter of 2011, the company continued drilling on the Velardeña Property with an underground high-performance drill. The drill is advancing to define the massive sulphide zone that was previously discovered with high grade sulphide intercepts from hole SJ-18-21. The drill will cut various holes at different angles (daughter holes) at depth, in order to intercept further high grade mineralization.
This will help define the shape, size, and persistence of the mineralization in the massive sulphide zone.
Geological modeling suggests that this zone could consist of large replacement type bodies or mantos style deposits. The drill program progressed slower than expected due to technical complications associated with deep drilling. These have been addressed and drilling has advanced into the target zone.
On the San Diego joint venture property, the Phase V exploration program continued through the second quarter of 2011. There are two drills currently operating to complete a program that will include 10,000 to 15,000 meters of surface diamond drilling with a budget of up to US$3,000,000.

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