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Gold/Mining/Energy : ECU Silver Mining Inc -- Ignore unavailable to you. Want to Upgrade?

To: Winzer who wrote (547)	11/26/1999 2:11:00 PM
From: jgibbs	Read Replies (1) \| Respond to of 672

Winzer, I also noticed the 100,000 offer at .14. There also has been 45 to 50,000 share bids around .15, so it seems some folks think it's a bargain at these prices. Perhaps the price has been driven down to these levels to more reflect the price of the new shares, noted below in the press release of 9/30. ECU seems to have fallen a bit behind schedule, since there was talk not very long ago of 600 to 800 tons per day by the end of the year. Now it's probably going to be 2nd quarter next year. Can you tell if the info in the press release today is the culmination of the deal announced in the press release of 9/30/90, a portion of which is below? Also, I have tried unsuccessfully to email them for an explanation of the forward sales of silver. As you know, the forward sales amount to some 4.60 per ounce which is screwy, since silver, especially forwards, haven't been anywhere near 4.60 in quite some time. Do you know anything about this? The best. JimG From 9/30 press release: <<<The Company recently completed a series of silver forward sales, totaling almost 87,000 ounces for proceeds of US$400,000, as an interim measure to cover the reduction in revenue from the previous months. In order to strengthen the Company's financial position and to complete the mines preproduction, the Board of ECU has approved a private placement to raise a maximum of US$1.5 million through the sale of up to 14,706,000 units at a price of Can$0.15 perunit. Each unit will be comprised of one common share of ECU along with a half share purchase warrant. A full warrant will entitle the holder to purchase a common share for Can$0.25 over the following 18 months. This financing is subject to regulatory approval.>>>