Aurcana Corp. AUN.V AUNFF

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Fri, Dec 30, 2011 - 6:44pm
mgb
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9-10 million oz in 2013

https://stocknewsnow.com/?p=2633

Aurcana Corporation CEO Clip

Credit to freddymanl on the stockhouse board.

Thu, Jan 12, 2012 - 5:04am
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AUN production revision

Just to reiterate what I posted on the 'next great silver junior' blog:

https://stocknewsnow.com/?p=2633

Seems the 9-10 million oz of 'pure silver' production quote is now spliced out of the SNN video and if we do our own calculations it is indeed 9-10 million oz Ag Eq production for 2012.

Considering that there may be only one or two mid-tier silver producers in all of North America in the ten million oz range per year that I am aware of and not one of them trades anywhere near as a penny stock there is likely to be a revaluation.

Wed, Feb 1, 2012 - 9:36am
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AUN presentation on silverseek.com's virtual silver conference

Courtesy of and thanks to Banman17:

2012 Vitrual Silver Conf Presentation.mp4
Mon, Feb 6, 2012 - 8:37pm
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CEO interview:The greatest growth story in silver today

https://www.fool.com/investing/general/2012/02/06/the-greatest-growth-st...

The Greatest Growth Story in Silver Today

Don't let it get away!

You don't have to be a market-timer to appreciate the power of a well-timed investment.

When choosing among the miners of gold and silver, accurately pinpointing the industry's strongest looming production increases has yielded some of the sector's most memorable gains. Fools who took notice when I prepared them for Endeavour Silver's (NYSE: EXK ) monster growth spurt back in August 2010 could be sitting on a cozy 250% gain today. Fortuna Silver Mines (NYSE: FSM ) is well-positioned for a meaningful growth trajectory of its own, and I recently visited the miner's new San Jose mine in Oaxaca, Mexico, to bring my readers a first-hand look.

But not even those rapidly expanding producers will match the epic production growth that Aurcana (OTC: AUNFF) is targeting over the next 12-18 months, after the company's Shafter mine in Texas enters commercial production later this year. Of course, mining is a challenging and unpredictable business that can thwart even the best-laid plans. But if Aurcana executes a smooth rollout of its second mine, the company will launch its way straight into the realm of mid-tier producers, with output of about 6 million ounces in 2013! From 2011 production of 1.74 million ounces from its rapidly expanding operation at La Negra, such a leap would undoubtedly clinch Aurcana's position as the fastest-growing silver producer over the period. Accordingly, I have designated Aurcana as a top pick within my Motley Fool CAPS portfolio.

When placing hard-earned capital on the table to invest in such a sensational growth story, a Fool must have confidence in the people leading the way. After sitting down for a lengthy chat with Aurcana CEO Lenic Rodriguez in Vancouver last week during the Cambridge House World Resource Investment Conference, I emerged with a profound degree of confidence that this company is in immensely capable hands. The experts at Silver Wheaton (NYSE: SLW ) would seem to agree, as the company holds some 10 million shares (see below). The silver professionals at Silver Wheaton have never steered me wrong, and their identification of meaningful exploration upside within Alexco Resource's (AMEX: AXU ) Keno Hill district in the Yukon has certainly been right on the money.

I wish every Fool could have been there beside me to meet Mr. Rodriguez, but I am hopeful that his warm and affable nature, his unmistakable intellect, and his infectious excitement for his company's future shine through the following excerpts from the interview. I want to start here in Part 1 of this discussion with Mr. Rodriguez's story and how he came into the CEO position. I believe investors will find it an interesting tale. In Part 2, we'll delve into the specific means by which Aurcana expects to launch straight into mid-tier production status on its way to becoming a major silver producer within an accelerated timeframe.

Christopher Barker: I wanted to congratulate you on a powerful growth story in the making. I recently selected Aurcana as my No. 5 pick among my Top 10 Silver Stocks for 2012 ...

Lenic Rodriguez: Well, you're only off by four [laughs].

Barker: How did you become involved with Aurcana?

Rodriguez: I became involved with Aurcana because the company approached me to find for them some substantial opportunities in Mexico. They had been operating for 10 years. The stock was trading at $0.04 to $0.05, and the market cap was $4 to $5 million. Within 45 days, I found two projects for Aurcana. One was a copper project that they wanted to own, but they could never make a deal. Now, I own that one personally. The other one was La Negra. I raised the money for 60% of it and became the largest individual shareholder and a director. But I was not really involved in management. I was living in New York. But the stock went in six months from $0.14 to $2.00, and then there was a very long, painful slide of 18 months. We went all the way from $2 back down to $0.13 and then under $0.10, and we stayed like that for over a year. I didn't think the company was going to live for another 90 days. At that time, I was appointed as President and CEO of the company, and during my due diligence I discovered there was no clear direction of where to go and no sense of urgency. But I had a very substantial amount of money invested in this company. So I very reluctantly became involved, and within 60 to 90 days we started to make money, and finally we negotiated to buy back our silver stream with Silver Wheaton.

Barker: Is Silver Wheaton still a shareholder?

Rodriguez: Ten million shares, because I asked them to participate in the private placement, and they are very pleased to be a shareholder. We have a very good relationship with all our shareholders. And now we are viable; we are vibrant... and we are on our way.

Barker: And what was your professional background before getting involved?

Rodriguez: I was born, raised, and educated in Mexico. I received my business degree with honors from the Jesuit University in Mexico, and my master's degree in systems engineering as well. I was one of the 100 top executives in the country by the time I was 30. I had a joint venture that I formed with the second largest construction company in the world -- Philipp Holzmann -- so I've always been very entrepreneurial. After moving to Canada, I got involved in finance with an investment bank out of the U.S.

Then I was conducting financings for companies in the U.S., Mexico, and Canada, and that's how I got involved with Aurcana. Last year, I raised for the company about $100 million. You have to remember the market cap about a year ago was $30 million. Today, it's $320 million. So the dilution we have had has been accretive dilution. We went from $0.08 or $0.09 to $0.70 (so about nine times). And the dilution has been triple, so that is accretive dilution.

Barker: What sets Aurcana apart?

Rodriguez: Basically, we have the highest growth profile of all our peers. We are weeks away from surpassing all of them: Alexco, Fortuna, Endeavour. Our stock price is $0.70. Those companies are trading at $600 million to $1 billion or more. We are at $320 million. So if someone can do the math, see where we're going, and look into the future, I haven't seen anything that can get me as excited as I am about Aurcana.

Please click here for Part 2 of this discussion with Aurcana CEO Lenic Rodriguez.

Sun, Feb 19, 2012 - 7:46am
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Christopher Wood blog on La Negra resource revaluation of AUN

https://investmentrevaluationcatalyst.blogspot.com/2012/02/aurcana-possi...

Aurcana: Possible resource increases

In Aurcana's December 2011 corporate presentation, the following reserve numbers are reported (43-101 compliant):
La Negra
:
Measured & Indicated: 1.248Mt @ 105 Ag g/t (3.4oz/t) for 4.2Moz Ag and 7.5 Moz AgEq
Inferred: 0.262Mt @ 78.6 Ag g/t for 0.7 Moz Ag and 1.4 Moz AgEq
Shafter
:
Measured & Indicated 2.795Mt @ 8.6 oz/t (267 g/t) for 24.0Moz Ag
Inferred: 2.167 Mt @ 10.5 oz/t (326 g/t) for 22.8 Moz Ag
For La Negra, running the mill at 1500tpd would exhaust the M&I resource in 832 days; once the 2000tpd expansion it complete (Q1-2012) the resource would be exhausted in 624 days. So finding more resources is critical. The good news is that we know the ore is there; from their Q4-2011 production numbers we know that only 14% of production was from M&I resources and 86% was from "new discoveries or non-compliant resources). If er use these numbers to estimate the amount of resources that could be there, unaccounted for in the 43-101, resources size increases by a factor of 7 (100/14) and the M&I resource number potential jumps to 30Moz Ag and 54Moz AgEq.

But how realistic is this estimate? Well, in the recent Christopher Barker interview Lenic gave up another data point:

"We're expecting a resource update at La Negra by mid-February. We are going to add about 1 million tons, which will be a substantial increase from what we now have, and these will come from the 1950 level ... the first time we have gone so deep into the mine. The haulage level is at the 2000 level. So all of the orebodies -- these 28 orebodies -- are above the haul level; all of them are gravity fed. And all of them are open. So we're down in the 1950 level now, and we have about 1 million tons here, (with more copper than silver).
Meanwhile, at the 2400 level in the Northwest Trend, we have two orebodies that seem to connect; bridging an 800-meter gap. We're already drilling 400 meters into it, and we need to drill the other 400 meters. And if they do connect, we have the potential for about 4 million tons there, and the grades are around 100 to 200 grams per ton of silver."
Lets look at the 1Mt first. Assuming a grade 100 g/t (the weighted average of their current M&I and Inferred resources) we get another 3.2Moz Ag of resources. Now what about AgEq? Well, in their current resource numbers, the AgEq number is roughly double the Ag number. Additionally, Lenic indicates there is more copper than silver in this ore, which seems to support the doubling for AgEq. Thus, we get an AgEq number of 6.4Moz. And as Lenic indicates, we can expect a resource update in mid February (now) that will hopefully validate these estimates.

  • 1Mt @ 100g/t: 3.2Moz Ag and 6.4Moz AgEq

Now, what about the 4Mt? Lenic indicates a potential for and additional 4Mt of or grading between 100g/t and 200g/t. He indicates that they think they have two connecting ore bodies, but that they have to prove it by drilling. Drilling is already halfway complete, which would seem to indicate at least a 50% probability of 4Mt of ore. Using the an average grade of 150g/t, how much silver is this?

  • 50% of 4Mt @ 150g/t: 9.6 M/oz
  • 100% of 4Mt @ 150g/t: 19.3 M/oz

If we again assume a doubling when considering AgEq we get:

  • 50% of 4Mt @ 150g/t: 19.3 M/oz
  • 100% of 4Mt @ 150g/t: 38.6 M/oz
If the 4Mt resource is there, adding this to the 1Mt resource that is expected in February we have 22.5Moz Ag and 45.0Moz AgEq. This is remarkably close to the numbers we estimated based sources of the ore currently being mined. If this all comes to fruition, Aurcana will increase at La Negra by 560% for Ag and AgEq by 600%:
  • LN Current:
4.9Moz Ag and 8.9Moz AgEq
  • LN Projected: 27.4Moz Ag and 53.9Moz AgEq
  • Factoring in the current cash costs at LN (~10/oz Ag) and the current price of silver ($33), and an 85% recovery, this 22.5Moz Ag resource converts to $440M in cash flow. But, if you think prices of silver are going to rise (which I do) this number goes up too. Finally, Aurcana is currently engaged in an "aggressive drill program" at Shafter. So expect further resource increases there as well. Estimating these numbers will be more difficult though since we have less data points.

    Posted by Christopher Wood at 20:41

    Sun, Feb 19, 2012 - 7:50am
    mgb
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    Another Christopher Wood piece on AUN-the original one

    Aurcana: Near-term catalysts for share price increase

    Aurcana is my favourite silver stock right now and I own a bunch. Here are the the events that I believe will drive the share price significantly higher over the next couple years:


    • Q1-2012
    : Resource update for La Negra; should significantly increase resource size and extend mine life... expecting to add ~1M tons of ore for as much between 25Moz and 50Moz silver
  • Q1-2012: Increase La Negra from 1500 tpd to 2000 tpd; should increase AgEq production for this mine from 1.7Moz/year to 2.2Moz/year
  • Q2-2012: Shafter comes online at 1500tpd; should add AgEq production from this mine of 3.8Moz/year for a company wide production number of 5.0Moz/year
  • H1-2012: TSX listing
  • Q3-2012: First production numbers and cash flow from Shafter; should increase cash flow by 5x from ~$25M/year (La Negra only) to ~$100M/year (La Negra and Shafter) assuming $34/oz Ag
  • H2-2012: Resource update for Shafter; should extend mine life by moving resources from inferred to measured/indicated (also upside from new discoveries)
  • H1-2013: Increase La Negra from 2000tpd to 2500 tpd; should increase AgEq production for this mine from 2.2Moz/year to 2.9Moz/year for a company wide production number of 6.7Moz/year
  • H2-2013: Increase Shafter from 1500tpd to 2500tpd; should increase AgEq production from this mine from 3.8Moz/year to 6.3Moz/year for a company wide production number of 9.2Moz/year
  • ???: Purchase of 3rd property
  • In addition to all this, you get a free option on rises in the price of silver. Silver is currently ~$33/oz. The inflation adjust past peak for the price of silver is well north of $100.
    Assuming Aurcana can deliver on all their objectives listed above and the market rewards them with a P/E of 8 (similar to current P/E of their peers: HL, PAA, CDM) and they don't issue any more shares (which at this time they have no plans to do), I have the following share price targets for the end of 2013:

    • $25/oz Ag: $1.29
    • $30/oz Ag: $1.94
    • $35/oz Ag: $2.58
    • $50/oz Ag: $4.52
    • $70/oz Ag: $7.10
    Mon, Feb 20, 2012 - 9:14pm
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    Great stuff MGH,  I own some

    Great stuff MGH, I own some AUN, and my father as well, I agree with all your analysis, this stock is cheap here, and could be the best bargain in the silver sector.

    The funny thing with your price targets is the tiny PE of 8, what happens when we see PE's in the 30's or 50's, this is going to be fun!!!

    Sat, Mar 10, 2012 - 1:03am
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    new article

    If you are following the progress toward production at Shafter and The Company becoming a mid-tier Silver Producer. Here's a recent article:

    https://www.reportonmining.com/ReportonMiningSpring2012.pdf

    Wed, Mar 14, 2012 - 5:08pm
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    Aurcana started at 1.0 rating by Bill Matlack on March 13 !

    https://www.kitco.com/ind/matlack/mar132012_juniors.html

    Aurcana started at 1.0 by Bill Matlack on March 13 !

    Scroll down to Silver and you'll see that Aurcana is rated higher than Revett, Scorpio, Silvercrest etc etc.

    Tue, Mar 20, 2012 - 12:41pm
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    RESOURCE INVESTMENT ARTICLE AURCANA

    Thu, Mar 22, 2012 - 6:39pm
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    Still on schedule

    "Reports that a giant new vein of silver was discovered in Shafter weren’t completely denied by the Rio Grande Mining Company this week."

    https://bigbendnow.com/2012/03/shafter-silver-mine-approaches-production/

    Thu, Mar 29, 2012 - 11:30am
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    BTV Video on Aurcana

    Aurcana Corporation (AUN: TSX.V) - 3/28/2012

    The BTV crews travel to Texas to witness the resurgence of the Shafter Mine,
    which when in production by mid- year, will be the second largest producing
    pure silver mine in the U.S.

    https://www.b-tv.com/i/videos/AurcanaMar12.wmv

    Thu, Mar 29, 2012 - 7:54pm
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    I'm placing high hopes in Aurcana now.

    some core miner holdings have been hurt this week....Scorpio mining and Fortuna. Fortuna may likely bounce back ok, scorpio might flounder.

    Miners can flounder and fail cant they. one really bad drill series forcing a complete re-eval of the whole forward projection,which the CEO says could have a negative impact on the future of the company ....huh?? (Scorpio mining) ...one big problem with a mine's structural integrity (AEM)

    one poor acquisition (Kinross)

    one act of violence (FSM)

    one government coup in Mali ( Guyana goldfields and Avion gold)

    Golden Baloney Mountain is starting to look better and better .(inside joke...)

    Can we possibly make it back to break even with one more decent rally in the coming month?

    Last years speculation plays for me included Golden Predator....50 cents seems a good place to buy and sell some at 1 dollar...how hard is that to do? But all we do is keep waiting and waiting on it.

    Geologix has been showing alot of life these days ....but everything seems to be floundering these days, either a little or a lot.

    Silvermex just went soaring on the great drill news and is now floundering.

    You think you find a good one to speculate on, and it goes soaring nice like Sandstorm. a rarity these days. Now watch it go plunging , at some point.

    Show me any miner big or small that is immune to all the risk factors,the manipulation, the shorting, whatever the game is , just show me one.

    For the longest time (look at the chart) Scorpio mining was staying strong , nice uptrend, while all others were going down.....now look at what happened when the year end report came out this week.

    You happy now? Show me a great miner to invest in. The other day,BOG said Moneta Porcupine was the best penny to buy these days....something like that. ok, I'm ready to buy some. stink bid at 21 and will sell 1/2 at 40 cents.

    Now my hopes are invested in Aurcana

    Mon, Apr 2, 2012 - 1:17pm
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    Aurcana's Shafter Mine Ahead Of Schedule - April 2

    Aurcana's Shafter Mine Ahead Of Schedule; La Negra Output Expanded

    Monday, April 02, 2012 9:19 AM

    Aurcana Corp. (TSXV: AUN)(OTCQX: AUNFF) says that construction at its wholly owned Shafter Mine in Texas is two months ahead of schedule and that the company has expanded its daily tonnage production to 2,000 metric tons per day at its La Negra Mine in Mexico. “We are pleased to be two months ahead of schedule and an estimated $1 million below budget at Shafter Mine,” says Lenic Rodriguez, president and chief executive officer of Aurcana. “With the completion of the expansion at La Negra to 2,000 tpd, Aurcana is on target to become a mid-tier silver producer and anticipates 12-month production 3.8 million ounces of silver from Shafter and 1.3 million ounces of silver from La Negra.” Aurcana is a Canadian junior-mining company with projects located in North America.

    By Alex Létourneau of Kitco News; aletourneau[at]kitco[dot]com

    Tue, Apr 17, 2012 - 5:50am
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    Aurcana Reports Record 2011 Results

    Aurcana Reports Record 2011 Results

    April 16, 2012 TSXV: AUN, OTCQX: AUNFF

    The most significant highlights for 2011 were:

    1. Earnings increased $ 21.6 million from mining operations in 2011, $23.2 million compared to $1.6 million in 2010.

    2. $16.3 million increase in net income, $7.7 million in 2011 compared to ($8.6) million loss in 2010.

    3. Revenues increased 76% to $45.9 million in 2011 from $26.1 million in 2010.

    4. Operating cash flow after taxes before movements in working capital items, to $19.5 million in 2011 (2010 loss of $3.7 million).

    5. Total Equity almost doubled to $139.3 million from $71.3 million.

    6. Achieved 9% decrease in production costs per silver equivalent to $10.10 (2010: $11.03)

    7. Silver production of 1,007,256 ounces in 2011 compared to 838,077 ounces in 2010.

    8. Silver Equivalent production of 1,741,702 ounces in 2011 compared to 1,354,315 ounces in 2010.

    9. Initiated upgrade of La Negra mill from 1,500 tpd to 2,000 tpd in 2011, upgrade completed March, 2012, a 33% increase in processing capacity.

    10. Shafter Silver Mine in Texas initiated construction February, 2010 and commissioned the processing plant April 1, 2012, two months ahead of schedule and under budget.

    Earnings

    The Company had earnings from mining operations of $23.2 million for the year ended December 31, 2011 (2010: $1.6 million); income before taxes of $9.6 million (2010: loss for $9.1 million); a net income of $7.7 million (2010: loss for $8.6 million). Earnings per share increased to a profit of $0.02 per share from a loss of $0.06 per share in 2010.

    The increase in earnings from mining operations was mainly related to increased volumes sold and the increase in the selling prices of the metals produced by the Company.

    Revenue

    During the year ended December 31, 2011, the Company generated revenues from the sale of 8,119 tonnes of copper concentrate (2010: 11,821 tonnes); 9,836 tonnes of zinc concentrate (2010: 5,273 tonnes); 2,303 tonnes of Lead Concentrate (2010: nil); and 1,007,256 ounces of silver (2010: 808,921 ounces) for total net revenues of $45.9 million (2010: $26.1 million).

    The average price for sales of copper, silver, zinc and lead during the year were Cu - $4.04 (2010: $3.50) per pound; Ag $35.25 (2010: $21.50) per ounce; Zn $0.97 (2010: $0.99) per pound and Pb $1.03 (2010: nil).

    Full article at: https://www.irw-press.com/en/news_15636.html

    Fri, May 25, 2012 - 5:30pm
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    Aurcana Reports: Record 1st Quarter 2012 Results

    May 25, 2012 Aurcana Reports: Record 1st Quarter Results


    Aurcana Corporation ("Aurcana" or the "Company") (TSXV: AUN, OTCQX: AUNFF") is pleased to report its unaudited financial results for the first quarter ended March 31, 2012. All figures are in US dollars unless otherwise noted.
    The most significant highlights for the 1st quarter ending March 31, 2012 were:
    • Revenues increased 6% to 11.6 million in Q1, 2012 from 10.9 million in Q1, 2011.
    • 186% increase in net income, $2.0 million in Q1, 2012 compared to $0.7 million in Q1, 2011.
    • 21% increase in operating cash flow before movements in working capital, to $5.7 million in Q1, 2012 compared to $4.7 million in Q1, 2011.
    • Earnings from mining operations increased 2% in Q1, 2012, $5.5 million compared to $5.4 million in Q1, 2011.
    • 20% increase in silver production of 287,486 ounces (258,767 ounces sold) in Q1 2012 compared to 240,275 ounces in Q1, 2011 (218,701 ounces sold).
    • The upgrade of the La Negra mill was completed on March 31, 2012, increasing production from 1,500 tpd to 2,000 tpd, a 33% increase in production capacity.
    Revenue
    During the quarter ended March 31, 2012, the Company generated revenues from the sale of 3,266 tonnes of zinc concentrate (2011: 1,364 tonnes); 1,570 tonnes of copper concentrate (2011: 3,050 tonnes); 737 tonnes of lead concentrate (2011: nil); and 258,767 ounces of silver (2011: 218,701 ounces) for total net revenues of $11.6 million (2011: $10.9 million).

    The average price for sales of zinc, copper, silver and lead during the period were Zn $0.91 (2011: $1.09) per pound; Cu $3.76 (2011: $4.37) per pound; Ag $32.80 (2011: $31.95) per ounce; Pb $0.95 (2011: nil) per pound.

    Earnings

    The Company had earnings from mining operations of $5.5 million for the quarter ended March 31, 2012 (2011: $5.4 million); income before taxes of $2.7 million (2011: $1.6 million); a net income of $2.0 million (2011: $ 0.7 million).

    The increase in earnings from operations was mainly related to volumes sold and the increase of higher grades of the metals in the concentrates produced by the Company.
    Fri, May 25, 2012 - 5:34pm
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    Aurcana: La Negra & Shafter Mine Highlights

    La Negra Mine Production Highlights

    • La Negra completed its second consecutive mine expansion from 1,500 tpd to 2,000 tpd production capacity on time and on budget for a cost of $4.5 Million.
    • 130,570 mill feed tonnes of ore processed during the current quarter, 15% (18,948) from NI-43-101 Measured and Indicated Resources and 85% (111,622) from new discoveries or non-compliant resources. All new mineralized zones will be NI 43-101 compliant.
    • 15% increase in Copper, Zinc and Lead concentrate produced during current quarter, 5,356 tonnes (2011: 4,684).
    • 2% increase in ore mined to 132,438 tonnes in Q1 2012 from 129,612 tonnes in Q1 2011.
    • La Negra's production increase was supported by a continuous in-house diamond drilling program.

    Shafter Mine Highlights

    • Construction at the Shafter silver mine in Texas has been successfully completed two months ahead of schedule and under budget. Commissioning and testing of the processing plant began on April 1, 2012. The ramp up to reach the 1,500 tpd production is expected by early Q3. Power was initially supplied by generators, but now the mill is operating on existing power from the grid.
    • Drilling has defined another 150 feet to the resource of the 1st block.
    • The warehouse building, cyanide mixing plant and potable water system are now complete.

    To read complete Financial Statement click on this link: https://www.aurcana.com/i/pdf/2012Q1FS.pdf

    To read complete MD&A click on this link: https://www.aurcana.com/i/pdf/2012Q1MDA.pdf

    Tue, May 29, 2012 - 4:30pm rock collector
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    Looking good in AUN land ...

    Anybody who takes on Sprott (and wins) is "A" number one in my books.

    https://pennystockjournal.blogspot.com/2011/02/aurcana-corporation-aunv.html


    Aurcana Corporation - AUN.v is progressing the recently expanded 2,000 tpd La Negra silver-copper-lead-zinc mine in Queretaro State, Mexico and is advancing the 1,500 tpd Shafter silver mine, located in Presidio County, S.W. Texas.
    Tue, Jun 5, 2012 - 7:06am
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    Aurcana's Silver Triumph and Golden Surprise - Shafter's gold!

    Aurcana's Silver Triumph and Golden Surprise

    Excerpt:
    .....Nowhere within that deep well of history was the project thought to contain significant quantities of gold. And yet, gold accounts for roughly 11% by weight of the first dore bars poured at Shafter! While there can be no guarantee that these surprising gold values will continue, at 11% of the dore content, gold accounts for roughly 88% of the anticipated revenue from these first dore bars. Expressed another way, the market value of a dore bar containing 11% gold is roughly seven times that of its silver-only counterpart."

    Aurcana CEO Lenic Rodriguez demonstrates one of the very first dore bars produced at Shafter since the Presidio mine closed in 1942. Rodriguez has two reasons to smile, as he celebrates not only the project's timely completion under budget, but also the encouraging gold content of these early realized results.

    Tue, Jun 5, 2012 - 3:39pm rock collector
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    Aurcana Redux

    https://pennystockjournal.blogspot.ca/2012/06/aurcana-corporation-aunv.html

    Aurcana Corporation - AUN.v is progressing the recently expanded 2,000 tpd La Negra silver-copper-lead-zinc mine in Queretaro State, Mexico and is advancing the 1,500 tpd Shafter silver mine, located in Presidio County, S.W. Texas.

    randomness