Sept 2022 Business Updates

from ECPN Board Chairman Doug Sanders

September 28, 2022

I think most of us have heard the expression No news is good news. And while I tend to believe that’s usually true… I’ll tell you that it tests my patience to give the deal-making process the time it needs to get through the due diligence, the deal points and terms, and the paperwork. That said, we do have news and a few updates — just not, yet, the “big news” that I had hoped to share before Q4 of this year.

Here are a few updates related to what our JV partner and I — and my team of advisors — have been working on this past month.

  • Our highest priority continues to be nailing down financing. We are in conversations with half a dozen individuals and groups — all of whom have presented scenarios for what a funding package could look like and how we can creatively monetize our asset in ways that will give us the working capital we need to start operations. As I’ve mentioned, we need to respect the process, provide the information that’s requested, and evaluate the proposals and terms. It all takes time… and after so many stagnant years I know we all want to see us move forward to profitability. Please know that we are working — every day — to that end.
  • A few details I can share: We had a meeting with potential funding sources in Los Angeles a few weeks ago. Those talks led to an invitation to present our plan in NYC in mid-October, if we haven’t yet secured the funds we seek. (Sometimes this feels like Shark Tank… or GOLDfishing…) We continue to be very optimistic and will share news and additional information when we have a firm commitment with terms that make sense for us — in both the short term and the long term. We continue to have discussions related to the best path to get our stock trading again. But, as I’ve mentioned in the past, that takes money. So that process won’t begin until we’ve secured financing. We’ve cleaned up and consolidated our accounts with Wells Fargo and added additional points of contact as both back-up and ‘checks and balances.’

If you haven’t yet completed the Survey and updated your contact information, I encourage you to do so:                     


I appreciate the continued encouragement from shareholders and we will stay on task so that our October Business Update can offer more details on our progress and plans.


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Forward-Looking Safe Harbor Statement:

The statements included in this business update concerning predictions of economic performance and management’s plans and objectives constitute forward-looking statements made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements are statements that are not historical facts. Words such as “expect(s),” “feel(s),” “believe(s),” “will,” “may,” “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding the expected completion, timing and results of metallurgical testing, interpretation of drill results, the geology, grade and continuity of mineral deposits, results of initial feasibility, pre-feasibility and feasibility studies and expectations with respect to the engaging in strategic transactions. All of such statements are subject to risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Specifically, there can be no assurance regarding the timing and terms of any transaction involving the Company or its El Capitan property, or that such a transaction will be completed at all. In addition, there can be no assurance that periodic updates to the Company’s geological technical reports will support the Company’s prior claims regarding the metallurgical value and make-up of the ore on the New Mexico property. Additional risks and uncertainties affecting the Company include, but are not limited to, the possibility that future exploration, development, testing or mining results will not be consistent with past results and/or the Company’s expectations; discrepancies between different types of testing methods, some or all of which may not be industry standard; the ability to mine precious and other minerals on a cost effective basis; the Company’s ability to successfully complete contracts for the sale of its products; fluctuations in world market prices for the Company’s products; the Company’s ability to obtain and maintain regulatory approvals; the Company’s ability to obtain financing for continued operations and/or the commencement of mining activities on satisfactory terms; the Company’s ability to enter into and meet all the conditions to consummate contracts to sell its mining properties that it chooses to list for sale; and other risks and uncertainties described in the Company’s filings from time to time with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.