El Capitan Precious Metals Inc (ECPN)

[georgeiporgi]

fuming Fummer, It is not massive it is in layers and lenses and mixed with non-magnetic iron and other minerals. It can be concentrated with magnetic separation but all this costs. el cap is too far from port to sell the concentrates on the world markets so you need a local one and there isn't one. The idea of building a steel mill in Almagordo is just that, an idea. No site, no permitting, no feasibility studies, nada. Like you say years away from fruition if ever.

With no other source of revenue, how is ecpn gonna pay it's debts and survive waiting around for a steel mill to pop up? They can't even keep their reporting current so they ain't gonna be raising money on the market. Their only hope is to sell el cap to someone interested in the risky long term potential of the iron. They will not be paying top dollar.At $0.02, ecpn shares are way overvalued.