Home > Boards > Canadian > Basic Materials > ECU Silver Mining Inc. (TSE:ECU)

From tonight's Midas report on the proposed merger

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
basserdan Member Profile
Member Level 
Followed By 325
Posts 81,665
Boards Moderated 4
Alias Born 07/06/02
160x600 placeholder
Home Depot Won a Lot of Customers During the Pandemic. The Trick Is Keeping Them. -- Journal Report
Home Depot Inc. reacted to the rapid spread of Covid-19 in the U.S. by canceling annual sales events and pulling many marked-down goods off the shelves to keep crowds away from stores. But rather than a drop in traffic, amid lockdowns and social distancing, customers began flocking to its physical and online stores, spending stay-at-home savings and government stimulus checks on home-improvement projects.
To Find a Coronavirus Vaccine, GlaxoSmithKline Is Bonding With Its Biggest Competitors
Alphabet, Netflix, Tesla: Stocks That Defined the Week
Correction to Facebook Article
Pivotal Studies of Covid-19 Vaccines From AstraZeneca, J&J Resuming -- 3rd Update
Facebook Seeks Shutdown of NYU Research Project Into Political Ad Targeting -- Update
CNN President Jeff Zucker Faces What Might Be His Last Lap
Top Company News of the Day
Top Stories of the Day
DOJ Greenlights Liberty Latin America's Acquisition of AT&T's Operations in Puerto Rico, U.S. Virgin Islands
Pivotal Study of J&J's Covid-19 Vaccine to Resume, Company Says
Stocks Snap Three-Week Winning Streak
U.S. Bonds Yields Remain Near Highest Level Since June -- Update
Covid-19 Vaccine Trial From AstraZeneca, Oxford Can Resume in U.S. -- 2nd Update
American Express Expects Net Interest Income to be Sequentially Flat in 4Q
Wheat Bounces Back on New Export Purchases
Covid-19 Vaccine Trial From AstraZeneca, Oxford Can Resume in U.S. -- Update
Goldman Seizing or Withholding $174 Million From Executives for 1MDB Case -- 5th Update
McDonald's Seeks Dismissal of Discrimination Lawsuit Filed by Black Former Franchisees
GDP Expected to Recover -- Data Week Ahead
basserdan Member Level  Tuesday, 06/28/11 11:48:43 AM
Re: None
Post # of 524 
From tonight's Midas report on the proposed merger

By gwr1
posted on Jun 27, 11 07:52PM

Dear Clients,

On Friday June 24, 2011, ECU Silver Mining, Inc (ECU) and Golden Minerals Company announced a definitive agreement to combine the two companies, representing a merger of equals and, "creating a new leading junior silver mining company with a portfolio of growth projects, primarily in Mexico and Argentina. The company combined will retain the Golden Minerals name and remain headquartered in Golden, Colorado."

For many months, ECU President, Steve Altmann has sought a business combination in order to strengthen the company and enhance shareholder value.

In my opinion, this is an extremely positive development and provides the following benefits to ECU and its shareholders:

1) Removes the $16 million debt from ECU’s balance sheet.

2) Golden Mineral’s $104 million cash position allows ECU the capital to further develop mines and expand production at Valardena.

3) Golden Mineral adds a highly qualified production management team to ECU’s equally-talented exploration team.

4) Since ECU shares (currently valued near $1/sh.) will be converted into Golden Mineral’s shares (currently valued near $20/sh.) on a 20:1 basis, it will remove the massive float of ECU’s 317 million shares outstanding which allowed the hedge funds to manipulate the stock via naked-short positions.

5) The combination will allow much greater access to the capital markets for future growth.

6) The merger will provide much greater institutional and analytical support.

7) The combined company will now be listed on both the NYSE AMEX and the TSX providing increased liquidity and visibility.

8) Golden Mineral’s mine portfolio contains a (potentially) world-class El Quevar Project in Argentina which provides further geographical diversification to ECU’s Mexican-based mines.

The transaction is supported by both Boards of Directors as well as major shareholders of both companies. It is expected to close in late August-early September, and proxies will be mailed to shareholders for voting in July 2011.

Wistar W. Holt
June 27, 2011

wholt@holtshapard.com

http://agoracom.com/ir/ECU/forums/discussion/topics/489768-from-tonight-s-midas-report-on-proposed-merger/messages/1567800#message









Dan
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences