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Message: ECU not paying the bills

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This user has been banned for violating Agoracom's Six Rules of Use

ECU not paying the bills

posted on Jun 24, 09 05:22PM

This may work out very well. ECU hasn't paid its bills that GOG gave them half the money for. THe drillers put the lien on the San diego property and now GOG is getting proceedings to put ECU in its place. Fact is ECU has no money as every cent is going to build a mine at Veradera property. ECU has debt to cover plus milions in salaries and is still 60-70 million short of building a real mill and mine at that property. ECU just finished a PP to buy the Hecla mill which is only 600 tonnes a day and the fact is ECU won't make that much money on that mill. ECU has 300 million plus shares and can't do another financing for at least 6 months.

GOG has 40 million shares plus it could sell red lake propert for between 1 and 2 million dollars. GOG could easily double its share and only have 80 million shares. If GOG could get too 50 cents then they could do a big financing and buy San Diego from ECU. We would be worth a lot more if we owned all of San Diego. Short term pain for long term gain.

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