OTCQB:GTAGF - Post by User
Post by
99921on Dec 20, 2006 11:26pm
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Post# 11903149
GOG/ECU
GOG/ECUPerhaps the timing of the sequence of events would help answer your questions. When did ECU farm out the land to GOG? ECU's stock might have been selling for less than $0.50 at the time and selling stock to raise exploration money for this property may have been both difficult and expensive. ECU had more than it could handle trying to develop its present property.Also, the farmout might have been done before ECU had the knowledge it now has about the general area. If ECU was considering this deal today with present knowledge and stock price they probably wouldn't farm out. An experienced explorationist doesn't look back much in that way. MR 's state of mind is probably to be glad he didn't sell 100% of the property to raise a few bucks when he needed money. This way he still ends up owning 50% and somebody else pays for the exploration work to prove it is worth big bucks. And if it doesn't prove to be a winner ECU avoided spending money on a loser.