He had a few statements to the press while in cuffs: " I told them we were gonna be a senior silver producer in two years; that was a year ago. the chumps bought every word, but I made 9 million dollars. That blind kid is lying so badly, somebody ought to fire him. I am lenic Rodrigues of Aurcana, and we are gonna be a senior silver producer in about a year and a half......that blind kid is lying. he put the change in my pocket and I did not put it there and the video is totally inaccurate. I am Lenic Rodrigues, of Aurcana and we are gonna be a senior silver producer here, and all my shareholders bought this load of baloney, and I hope you do too......"
This guy has a track record that has to be worse than Rodriguez. Out of the last 3 companies he worked for, only the oldest has the same name (Kinross). From there he went to Glencairn which was acquired by Black Hawk Mining, a company he used to work for. Due to inappropriate strip mining for the area, they were at risk of causing millions of dollars' worth of environmental damage and asked to cease operations which they did and abandoned the mine. No clean up was done as far as I can tell. The name was changed to Central Sun Mining after a 1 for 7 reverse split (sound familiar?) Then he went to Gold Hawk Mining and took the stock price from .50 to .03. The name was changed to Oracle Mining and it now mines copper and is at .10. You know what? This sounds like a bunch of good old boys living it up on the suckers' dimes (and they did, you can be sure). As for me, I have had it with miners. I'm selling and will never buy another. Lesson learned.
I think you are overreacting, they had revenue of 45 million dollars in 2013, not bad!! As of Sept 2013 they had net assets of over 159 million. They are not going bankrupt, they are just temporarily ready cash short in my opinion... We will see who is right...
many worries. Not exactly a top guy like a bradford cook, head dude maybe 50 at exk, or the guy at AG, also about 50 or so. Anybody who has 40 plus years in the industry must be approaching 70, and that is like getting a 38 year old QB...or 35 year old shortstop............better than a thief but still a bad thing. A LOT OF 70 year olds cannot drive a machine, responsibly........
We need a PR to tell us what is going on!!!!!!!
i hope they get all they want before it goes bankrupt. what a bunch of crooks. hope they get voted out .
lenic's video shows me how he can look you in the face and take your money all the while lying to you.
the good old boys . jmho
I'd like to know what are the chances of shareholders demanding a reverse stock split - 1 for 10 or so to make it a bit more likely to come out even? Can't that be done with enough voters?
what about the other good old boys? nils von fersen and sadek el alfy resign from the board get compensated then their companies are hired right back the next day. they are raping this company.
lenny just raped this company and you are right they are good old boys stealing from the top. resigning and hiring their own company back . what a bunch of crooks.
yeah, lenny did a number on this company,
there are lot of cheap miners out there that are making money
You shouldn't feel trapped in this stock, give yourself the right to explore alternatives if you hate this stock.
If you want to stay in Mexico there SHVLF, it's nearby to Aurcana's mine, even in the same Mexican state, it trades for about 20 cents, and they have talked about paying a dividend
There's PZG, it has two big projects, one in Chihuahua Mexico, the other in Nevada, trades for about a buck, has decent management, it's a bit speculative as it's not producing yet
Lot of cheap gold juniors in Canada
One of my favorites is STADF, it mines over 80k Au ounces annually out of the Red Lake mining district, it has a very large land package right next to what used to be Brigus gold, now it's part of PPP, and who knows, maybe PPP will buy STADF, that one is growing like a weed
Or there's MEAOF, Metanor, it mines about 50k Au oz annually out of Quebec, they also got a big project that will worth a lot if gold prices keep rising, it trades for under 15 cents
There's Claude Resources, CLGRF, another Canadian gold junior, it trades for about 25 cents, it is a turnaround story, mines about 50k Au oz annually, but it has been doing better recently, they got a new CEO not long ago, and they have been doing better ever since
My speculative favorite is CANARC Resources, CRCUF, it has some great properties it's trying to develop, it isn't mining anything presently, but they got great management, the Chairman is Bradford Cooke, he's like the total opposite of Lenny, he's got integrity and the "vision-thing", and that one trades in the 8 cent range
I was in this stock for a while, but I bailed long ago, thankfully, the biggest risk in this sector is bad management risk, maybe this one will do better now that you got a new CEO, certainly hope so.
There are others too, like San Gold, SGRCF, Elgin Mining, ELGMF, etc., lots of others too that I don't follow.
will kevin drover change the way this company is being run? or will he follow in the footsteps of the past croonies?
I posted some on his past record and it isn't pretty. Do some research.
i so hope he gets his due. he was a #$%$ that lied through his teeth in the cc.
"Lenny's" not even there anymore. The new CEO is Kevin Drover