Mark, vargas - My thoughts are that the reason ECM has suffered worse than most is its association with Bema. Many holders of BGO and AZS became very disenchanted with the progress of events this year, and who can blame them. Apparently Bema has been saying outright that they are going to aquire ECM. In other words, if you buy ECM, you are really buying Casale, Refugio, and Clive. After the events of this past year, I ask you , who really needs to pay for that kind of grief. I too would like to see ECM cut loose from BGO because I think that this project would be much more attractive without being tied to Bema. Really, I think KRY has zip to do with ECM, it is all a question of when and how it is going to be feasible for Bema to aquire and finance the project, and add its ounces to their production. Bottom line, there is no reason to buy ECM unless you are hell bent on owning BGO stock and at the same time, guessing how much they are going to give you for your ECM shares. Given these circumstances, I think it's a safe bet that the current share price bothers Bema not one iota. Besides which, the market needn't forget the fate of Arizona Star shareholders when deciding how to value ECM. Interested in hearing your feedback on these thoughts.
Tom |
