looking forward Well today should be the first of many good days for EC in the coming months. A solid close today will put EC in a position to accelerate warrants, raising some cash for future drilling, to help with the brazil projects or even pay down their debt. Today could be a real turning point.
I expect their will be a NR next week stating their intentions to accelerate said warrants, as well as tell us that drilling has in fact started on RZ.
The next month or so will be VERY interesting as well. We all know the potential RZ has, but if they issue NR stating they have VG in those cores, LOOK OUT. Also, keep your eyes on our neighbors to the east. Kinross is drilling right on our border, so if they hit some good grades its a no brainer our SP lifts off. That would also suggest there may be more gold on RZ that we think at this time. Assuming all goes well, we could see some assay results near the end of Feb along with an announcement of an expanded drill program on RZ.
I also expect we will have some news on Brazil shortly. This is a key component for us. If they get production from Brazil going, look for even bigger and better things in 2010 as EC may then opt to get things going on their other exploration projects in both Ecuador and Brazil.
As a final note, China has made their intentions in Ecuador crystal clear with the purchase of CTQ. This could and should be a huge wake up call to Kinross as well as other majors when it comes to acquiring juniors.I gotta think if EC hits good grades on initial drilling, some eyes are gonna open even wider.
Good luck to all longs in 2010, may the taxman be your worst enemy.