Yes..the deal has been formed and has the recommendation of both boards. I think there is no doubt that it will go through. The $15 million is to tide ECU over until the deal closes...which will probablybe mid-September. Now they can continue to drill and do the other things needed to get ECU to a higher level.
From what I understand, there are some very knowledgable mining people that think the mill can be much more productive, and the ECU people can be very helpful in exploration.
I'm still not happy with the timing or the valuation but it is what it is.
I'm still doing some DD to see if I want to continue forward and won't sell at these prices anyways. I will definately wait to see the drill results, which are rediculously late but not uncommon in this sector.
I also think that if the shorts can be flushed out and made to cover because of this process then it may be beneficial. I am waiting to see if they try to knock the crap out of the SP under the pretense of disgruntled shareholders and then cover lower.
