Copied from the LeMetropoleCafe' -- "again"This is an example email others are writing to the juniors they hold. This one is to Steve Altman of ECU Silver Mining.
Along these lines I will share an E-mail exchange from today on exactlythis issue. I sent Steve Altmann from ECU the following irreverentsuggestion:
Dear Mr. Altmann,
A few more thoughts from a concerned shareholder. In advance my
apologies if some of this sounds a bit naive, but here it goes:
It appears ecu is being shorted heavily, the current suppression of the
sp is beyond just what the bad market can be blamed for.
Many of us know that a portion (big portion?) of the canadian bankers
have made a healthy living out of shorting juniors in need of financing
(often naked shorting), then providing the monies for a financing, and
using the newly acquired shares to cover their previous short sales;
15-
30% profit on money raised seems to be about the payoff (judging by sp
declines for many juniors prior to financings).
It is widely known that ecu needs funds to develop, and I would be
shocked if some of the entities you are talking to now were not playing
that game. Obviously, apart from ethical and legal considerations, this
kind of action is very bad for shareholders.
I don't know if it can be done, but I think ecu (you) should give the
financiers (and shorts) the middle finger (or at least scare them)!
How?
1) cancel or postpone a few meetings with financiers
2) go on vacation to play golf (feign disinterest)
3) come up with and announce a credible plan to increase plant capacity
modestly (800- 1000 tpd for now), and plan on being profitable at that
level (some high grading for a year or two + cutting costs), and
suggest
that you'll be able to make ecu self- financing.
The shorts would have to go to the open market to cover.
Ecu would in essence put itself on an austerity plan until market
conditions improve (won't be long now).
If you really want to kill the shorts, down the road you announce a
dividend (shorts would have to come up with that) on money earned.
Me and my optimistic self thinks that you should be able to raise money
without warrants at north of 3$ per share, doing it at current levels
would be like stabbing yourself in the spleen. As an example of a group
who has been able to sell their project I'd offer the Reids (Gold
Resource Corp- GORO.ob- much less visible value than ecu so far) who
have been raising funds without warrants and have been able to keep the
share structure very tight, one could even target the same (European)
investment funds....
So from one shareholder: "the middle finger" is called for, time is on
your side.
Andreas.
(Long- Term) Shareholder
Some additional stuff from Jim Sinclair who is taking naked shorting
very seriously, with a workable counter attack:
Sinclair's missive attached.
Very promptly I got the following reply:
"Hi Andreas
We are outraged by what is going on and we have registered to join Jim
Sinclair's group. We will be as supportive as we can be in any way as this
type of naked shorting activity must stop. The juniors are getting hammered
for no reason other than regulators and bankers are LETTING the hedge funds
act this way.
In terms of your suggestions, we are in fact currently working on those
initiatives as we speak!
Thanks for the email.
Steve "
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I like this idea of Jim Sinclair's "Chamber of Mines". I don't understand it all but these financiers are shorting and waiting on the miners to come to them with cup in hand and "loan" them "their own money" they "stole" in the first place by illegally shorting. Nice scam huh? Not all are dishonest but some are and this isn't meant to taint anyone in particular but we know the problems the juniors shares are having and in many ways as to why. Maybe "disclosure" by someone could uncover whats in the corners of the room in the dark?
I encourage ALL to begin writing to IR and the new CEO Anthony Walsh and encourage them to begin discussing "REAL WAYS" to resolve "OUR SHARE" problems and illegal shorts. I also suggest having them contact Jim Sinclair's office or him personally to inquire about this "CHAMBER OF MINES".
Jim isn't looking for anyones or any companies money he's looking to restore the wealth stolen from us via illegal shorting and scams allowed to transpire due to lack of enforcement by financial powers that be.
I'll add more as I can. If you don't want to read this skip it when you see my name posted. Don't flame me I want to help us all get the investment we should get from the risk we are taking. We don't need goons and thieves in the mix.
NicoleHoeller
Director,IR
NHoeller@sabinasilver.com
Anthony Walsh
CEO COO
AWalsh@sabinasilver.com
All it costs us is a little time. Please help.