Afternoon Edgy, Good to see you posting more often. That you in there goosing the volume today? Not me, sadly. I'm out of cash.
-------------------------------
Some Murphy-like sayings come to mind when I think of ECU: When things can't get any worse, they do, and, If anything can go wrong, it will.
I'm reminded that ECU has probably in excess of 300 million shares, fully diluted, in full view of everyone. That's a lot in comparison to most other juniors. A huge number of those shares weren't around just a few short years ago, so I can only imagine the circus still going on between the players who put up so much of this for a piece of that. Stuff like: We'll do this, but we want that. We can arrange it this way, but we have to come out ahead next year, or else. We'll help walk the stock down only if we get first dibs of whatever. You screw us in this deal and you'll pay. Who knows what kind of stuff went down with the shares over the years that's still playing itself out. Like maybe TODAY!
IMO, ECU is still a terrific story with a few flies still in the ointment in addition to that huge number of shares. For example, it's near-term production, I think, is expected to be somewhat less than 1000 tpd. I've got some dinky little juniors with a fraction of that stock amount with larger mills in production right now, and the stock prices are jumping. I don't blame guys for moving money out of ECU and into the movers, if that's part of what's happening. But I doubt that accounts for much of what's been going on.
Those who understand ECU and are patient are already in including some big guns, as I understand it. The I-want-action-now attitude of most of the guys I know have no interest in buying a turtle when there are so many cheap rabbits for sale. Though the turtle may be more valuable in the long run, the mo-mo boys don't care at this point in time. And the chart is one big red light for them.
I've been in ECU for over 10 years and am willing to wait for that day I believe is coming. Like a lot of others, I've been burned badly trying to jump in and out of stocks, so I'm not trading it. Besides, the IRS taxes the beejeesus out of any short-term profits making trading a hard game to play here in the US, at least for guys like me.
So I sit and wait and wonder.
