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ECU Silver News Release
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ECU CASH INVESTMENTS HAVE NO DIRECT EXPOSURE TO RECENT CREDIT CRISIS
The current global credit crisis has many investors concerned about the
short term investments of cash resources by public companies and in
particular, the liquidity of these short-term investments. ECU Silver
Mining Inc. ("ECU") is pleased to report that its positive working
capital and excess cash have been invested in short-term certificates
with National Bank Financial in Canada and Scotiabank Inverlat in
Mexico. The total amount of these invested funds are immediately
redeemable at any time.
ECU HAS NO EXPOSURE TO JOINT VENTURE RELATED NONRECOURSE LOANS
Certain articles have been written regarding companies with exposure to
joint-venture related non-recourse loans. ECU reports that it has no
major company joint ventures and as such has no non-recourse loans with
a major company on any of ECU's mineral exploration properties. In
addition, ECU has no hedging contracts and/or derivative contracts in
place. ECU has a joint venture agreement with Golden Tag Resources Ltd.
("Golden Tag"), a junior exploration company, on the San Diego
property. There are no nonrecourse loans between ECU and Golden Tag.
ECU maintains only one debt facility for US$12 million which has
standard debt covenants and no direct hedging or derivative exposure.
The loan facility is with IIG Capital of New York.
EXPLORATION UPDATE
ECU is currently working on building a 3-D geologic computer resource
model which will serve as the basis for the updated 43-101 technical
report and for the pre-feasibility study. All historical assay
information received to date have been input into the geologic resource
database and data correlation interpretation is underway. A more
detailed update will be provided in the near future.
Stephen Altmann
President
(416) 644-8640
(416) 644-8801 (FAX)
www.ecu.ca
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Copyright (c) 2007 ECU SILVER MINING INC. (ECU) All rights reserved.
For more information visit our website at http://www.ecu.ca/ or send
mailto:ecu@ecu.ca
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VanEck Vectors Global Alternative Energy ETF
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CODE : ECU.TO |
ISIN : CA26830P1053 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Ecu Silver est une société de production minière d'argent basée au Canada. Ecu Silver est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 30,4 millions (30,9 millions US$, 21,9 millions €). La valeur de son action a atteint son plus bas niveau récent le 25 janvier 2002 à 0,01 , et son plus haut niveau récent le 08 septembre 2006 à 3,65 . Ecu Silver possède 47 442 200 actions en circulation. |