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Aurcana Corporation Message Board

  • brdwachr2 brdwachr2 Mar 27, 2012 10:08 PM Flag

    Irrational Exuberance?

    Isn't anyone concerned with the 350 MILLION shares outstanding? Fiscally responsible miners have 1/3 of that. I see a R/V before they exit the Pinks.

    I saw this happen with CDE. OUCH. I am still underwater since that R/V by about 50%.

    http://www.streetinsider.com/Stock+Splits/Coeur+(CDE)+Announces+1+for+10+Reverse+Stock+Split/4661774.html

    Look at EXK (Endeavor Silver). Only 90 million shares out. They're at 10 bucks. How about AG (First Majestic)? 105 million shares at 17? Great Panther 140 million shares out at 2.30.

    CDE did a 10 to one split. That would bring Arcana to 10 bucks and you would have 1 share for every 10 you thought you had. Still a bargain? Compare the Market Cap, P/E ratios and earnings per share.

    I AM a shareholder and have been for several years ( Before that ill fated SLW deal and before the Shafter purchase.) I just think there's WAY too many shares outstanding and this WILL be corrected by a R/V.

    By the way, I own a small amount of ALL mentioned. I wish nothing but good for ALL shareholders!

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • The problem here is not with 350M shares outstanding. The problem is with 550M shares outstanding. The company did a large private placement In November and now has well over 400M shares outstanding. There are another 11M warrants that expire on July 12 that will add to the share count. Next July there will be 77M warrants expiring in July that will be added. As of now Aurcana has 550M fully diluted shares. I have looked at buying this, but that is way too many shares. It takes $5.5M in net profit just to produce .01 in earnings. Sorry!

    • You might want to check HL. They got lots of cash and what? 285 mil. shares outstanding. I am sure I could find many more! If you got this stock and don't like it, sell it and quit complaining! Move on to one of your so called "Fiscally responsible" miners. R/V is kiss of "DEATH", you better not hope for that. Thought you would have laerned that from CDE that your still underwater on.

      • 1 Reply to dwg7344
      • You guys fail to grasp my point. First off I am NOT complaining. Second point is that the companies mentioned with multiple millions of shares are ALREADY on the Big Board and have a market cap to match. They even have EPS and a P/E ratio.

        Every junior miner I have owned who went to the Big Board did a RV. with the one exception of Great Panther. They have 138 million sghares out. Mega shares and Pink Sheets do not bode well when it is time to join the big leagues. I guess I should have made that statement on a different thread where someone mentioned leaving the PINK SHEETS.

        I am NOT selling my shares and I, like the rest, am hoping the Shafter mine will boost their profits AND PPS.

        I am merely making a point and stimulating lots of emotions! It boggles my mind how sensitive this issue is with some!

        As always, GLTA!

    • Great points but there are MANY company's and Great ones that have close to or over the # of outstanding shares that this small company does. Just a few are AUY, HL, GFI, ABX point being it has more to do with is the company real and moving forward and making money. Aurcana can say a big yes to all those. I believe they will grow out of the share dilution problem that was acquired in order for them to get funded and running. Why do I believe this because I was told so and I will leave it at that NO REVERSE SPLIT>>>>>> This company will be well north of 5 dollars by 2013 if we are lucky before the end of this year.

      • 2 Replies to patrickwayneg
      • I hope you're right. I don't want a reverse split either. Lenic seems intent on getting listings on the TSX and off the pinks in the U.S.exchanges. I would agree that with Shafter coming online they should be able to grow rapidly enough to absorb some of those shares and if required do a share buyback. I'd be surprised to see $5 by the EOY, but they should finally start to see big share appreciation after Shafter opens.

    • One more RV before going off the pink sheets here: And YES I own this one also. And YES since the RV I am underwater.

      GoldSpring, Inc. Announces Shareholder Approval of 1:200 Reverse Stock Split - Business News - redOrbit

      http://www.redorbit.com/news/business/1862296/goldspring_inc_announces_shareholder_approval_of_1200_reverse_stock_split/

    • You touched on a point that has been discussed and confirmed by posters over on the SH board with management (Lenic) about the possibility of doing a reverse split. If this Fool doesn't believe it has then that's fine with me. I don't know what management has planned, but that is something they have talked about as being possible. We shall see.

      I just hope they don't do it until the SP is higher from here.

    • You're making a very valid point. Posters over on the Stockhouse board have spoken to Aurcana management about that and they said a reverse split will probably be in the works at some point. I know I don't want it to happen, but as you pointed out they have a lot of shares out.

 
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