Because the word "Ecuador" is currently out of fashion in the mining world, junior mining company Ecuagold (EGR.v) has just announced that it has changed its name to "Andeangold". The PR says;"In addition, the shareholders approved a change of the name of the Company to "AndeanGold Ltd.", pending final regulatory approval...."
Let's be straight about this. If EGR actually cared about exploring and creating a mine more than exploiting and creating in the Toronto Stock Exchange (Venture section), it wouldn't give a damn what its name was. And while we're on the subject of BS press releases, the company recently said that it has enough money "...to finance the Company's exploration diversification strategy and to maintain its day-to-day corporate and administrative functions for the next 12 months" but with its approx $1m at bank, Lord forbid what will happen to the number of shares outstanding when the company actually does something radical like a bit of diamond drilling.
Five cents a share may look like a bottomfish bargain to you. You'd be wrong. I'd also bet money that as soon as Fruta del Norte is an operating mine and Ecuador is viewed as politically no riskier than anywhere else in Latin America (what goes around comes around, dude), EGR will vote to change its name to EcuadorGoldAssets'R'Us or something similar.
Bottom line: Avoid this stock and others who play the namechange game like the plague. Don't expect EGR to appear on this blog as an advertiser: Ever.