Aurcana Corp. AUN.V AUNFF

Here are som good info about it!

http://www.economicfreefall.com/2011/07/miner-i-like.html

I must say, it looks like Aurcana could be one of the biggest winners the coming year. Great production outlook and a decent amount of ounces in the ground as well! I really think the current drill programs will prove up a lot of new reserves and resources.

I think this company is selling for what 2015's earnings will be.  I don't think people understand how quickly this thing can start earning some serious change.  I met with the CEO a few months back, he was chilling like Charlie Sheen.  As far as I know, the law suit has not been settled, but I don't think Sprott has much grounds to stand on, as there was nothing official drafted or signed.  Mr. Rodriguez (the ceo) was saying he had just met with Sprott personally the previous day.  "It's nothing personal it's business.  Sprott wants our silver and he knows we have a lot of it."  was what he said.  I believe Sprott also owns a decent amount of the stock himself which should tell you something.  He seemed unconcerned as I was, and certain they are sitting on a money machine as I was (and still am) as well.   3.8 million this year, 5 million for 2012, and 6 million for 2013 all at around 8/oz.  It's not even so much about the size but how QUICKLY it can occur.

I just checked to see which miners were on the NAS Reg sho list , which shows failures to deliver shares that were shorted.

AUNFF is a recent addition. GGCRF, ( Silvermex ) has been naked shorted for over 2 months running as of this last report.

http://www.nasdaqtrader.com/Trader.aspx?id=RegSHOThreshold

ORVMF , ( Orvana) the only other miner i see on the list.

Which is basically when you sell shares you dont own. That is actually shortselling if you can find some shares  to borrow from a slippery broker. When you cant find shares to borrow, the trade still goes thru and its called naked shorting (* creating phantom shares)

After so many days after shorting a stock and not finding shares to borrow , that is a failure to deliver. Once you exceed the timeline for finding some, you go onto the NAS Reg SHO list.

For some inane reason , this fraud is allowed to continue for weeks, and sometimes months.... Silvermex has been naked shorted now for over 2  and half months!

Instead of hangin these fraudsters by their nether regions and throwing rocks at them, they are actually rewarded as they force the stock price down and make money covering ( or in some cases forcing the co.into bankruptcy and never have to cover the shortsale). Basically thievery allowed in the stock markets , where in the rest of the society you would be jailed for the same type of fraudulent activity.

I look at this list every once in a while to  see where the crooks ( banksters) are pointing their attacks.

With about 354 million currently OS shares and  fully diluted another 123 million added to that ( 477 million or so)  , AUN managed net earnings of just under $1.6 million in the Q .  That is about a 1/3 of a penny a share in earnings. I guess their promotion is good tho and that is why they are valued as high as they are.

Shafter is the big hope for the company and warrant exercise should help finance the rest of the construction there. We know current earnings from operations wont go far.

Liquidity  
At June 30, 2011 the Company had working capital of $7.1 million (Dec 2010 –  working capital of $14.1 million), 
which consisted of $19.5 million held in cash and short term deposits; account receivables of $3.5 million (trade 
& others); prepaid expenses of $0.1 million; inventory of $1.9 million. These amounts are offset by accounts 
payable of $7.3 million; the current portion of the Company’s notes payable of $1.0 million in relation to 
equipment purchases at the La Negra & Shafter Silver Mines; and the current portion of the Convertible 
Debenture with Silver Standard of $9.4 million.  

Still a lot of cheap shares to hit the markets , as of this August 12 /2011 ,  94.9 million warrants remained not exercised, (all of these warrants way in the money) 28.5 million options were still outstanding ( not vested ) I  highly doubt SPROTT will contribute any  more $$ to the company until they have settled the lawsuit.

Aurcana playing a bit of that game called , bite the hand that feeds. Be interesting to see how that strategy works out.

Great release by Aurcana today: http://www.economicfreefall.com/2011/08/aurcana-reports.html

Shafter also on track as expected. 2012 will be a fun year for every Aurcana share owner!

Largest holdings of shares out of every silver company imaginable?   AUN

http://globalxfunds.com/fundholdings.php?fundid=18493&catid=22

Sprott is now put off until Oct 19th.

No judge available,apparently.

Sprott is the keynote speaker at the Silver Summit in Spokane on the 20th and 21st of October.

He has to walk by the AUN booth,situated directly outside the speaker hall main entrance.

AUN's third quarter will be in the books and NR'd in mid-Oct..

Lenic gives a Shafter Update this Thursday at the Precious Metals Summit.

New presentation: