There are only 2 ways for ECU to convert inferred to M&I and both are no brainers but require drilling known veins and massive sulphide feeder system target and opening up levels below the mineralized corridor to convert many millions of tonnes and ounces to M&I. Both are planned for the upcoming exploration program from what I understand. Comments like whoever you are quoting are ignorant of the process and just trying to be mischevious or create negative sentiment as of course no inferred was converted in the last year because little to no drilling or drfiting of new levels occured as we all know only to well.
Issuing stock has been required to build and develop the new mill production which will eventually generate over $3 million per month in revenue which will grow the balance sheet and pay for all future exploration costs plus increased production so again another red herring type of comment from whoever. The just concluded financing was to fix the balance sheet and start exploration sooner than planned to take advantage of good market conditions and the new cashflow positive position of the company will keep the balance growing and strong.
All monies are being put to productive use, especially new exploration, which is designed to enhance shareholder value which will be reflected in the stock price going forward. ECU will now get back to significantly increasing the resource towards the Micon outlined potential and converting large amounts of inferred to M&I, just wait and see how well this process goes as it will be good much like the last resource report where the resource increased by 100% in one year. ECU had doubled resources every year for 3 years in a row prior to this last very difficult market monetary crisis year where little resource progress occured because of the necessity of spending restraint with all monies focussed on very successful production expansion.
The upcoming scoping study will give some good insight into future potential and economic viability of exploiting more of the resource with a larger mill. Then a tighter feasibilty study will be developed based on the drilling and drifting undertaken going forward which will start in the new year.
It's all good and only going to get better in my view.
