Patience is a virtue! Good news comes to those who wait! Well, you get the message. Prior to today, ECU Silver Mining Inc. (TSX: ECU) last reported results from October, which seems like a long time ago. In fairness, the Company was prohibited from releasing November and December results while awaiting receipt from the securities regulatory authorities with respect to its final prospectus.
The long awaited results do not disappoint. In November, the Company’s operations yielded a combined 74,766 silver equivalent ounces. At $17 an ounce silver, this represents approximately $1.3 million. In December, the Company’s operations yielded a combined 67,914 silver equivalent ounces, which at $17 an ounce silver, represents almost $1.2 million.
More importantly, results for January 2010 month to date are “close” to the above reported number of ounces reported by the Company for November and December combined. That’s right, combined. Math isn’t my strong suit, but according to my calculations January should be around 140,000 silver equivalent ounces or approximately $2.5 million.
But wait, there’s still more! According to Stephen Altmann, President of ECU Silver, “Our goal in 2010 will be to focus on three priorities. First and foremost is to ensure profitable operations in order to maintain a strong balance sheet; second, complete our Scoping Study; and third, resume exploration activities, with internally generated cash, to further enhance our mineral resource and delineate the rich massive sulphide discovery.”
