That they have no cash, is the biggest BSi heard to date. People who trust this sh** are not worth having only one share EC in their account:
Ecometals raised 6million $ via PP in october.
Phase 1 drilling costs 700.000$. Read it in the presentation.
They have more than enough money in the bank for the whole year 2010!
Bonus would be:
Condor sale: 9 Mio
Warrants: 3 Mio
Manganese: Annual cash flow of 10million $ starting in May 2010 (this is the newest information i have and trustful)
All this will be proven by NEWS RELEASES (or not). As long as there are no official News releases telling the opposite this are the facts we have to date!
It's the easiest way for basher to attack the financials of a junior-explorer. From 2000 junior-companies 2000 live from the money they get via PP, warrants. Only idiots are going to sell based on the financial situation of a junior company, but bashing the financial is the easiest way to scare people who are new in the markets and bought shares because of "somebody" advised it. And when i start reading bankrupt...i really start to laugh. We made it through the whole ecuador crisis with all the risks we had to get those permits for rio zarza. do YOU really think...that there is a 0,1% chance ec goes bankrupt ???
Keep cool.