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Aurcana Corporation Message Board

  • tranthor2004 tranthor2004 May 25, 2012 3:27 PM Flag

    Earnings

    were ok but would have been really good with a higher silver price which benefited Aurcana last year. That will be rectified as the continued economic global turmoil continues.

    Increased production continues. Good news.

    Do we have a cost per oz? Scanned quickly, need to run.

    The run on the banks in Europe continues even if it is not admitted. It will be an interesting next few weeks.

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    • Posted for any new investors that have not visited the home page or sedar:

      <<<The Company had earnings from mining operations of $5.5 million for the period 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 mining operations was mainly related to increased volumes sold and the increase in the higher grades of the metals in the concentrates produced by the Company.
      I am sure a 'proper' NR will be out shortly - and the info must also be on sedar!
      During the period 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). A new lead concentrate circuit was added in Q2, 2011, due to this, the recoveries of copper improved with the removal of lead, resulting in two separate concentrate streams. Revenues were derived from 58% silver (2011: 59%), 18% copper (2011:32%), 18% zinc (2011:9%) and 6% lead (2011: nil).The sale of concentrates are recorded net of charges for treatment, refining, smelting and royalties. The average price for sales of zinc, copper, silver and lead during the quarter was Zn
      .91 (2011: $1.09) per pound Cu - $3.76 (2011: $4.37) per pound; Ag - $32.80 (2011: $31.95) per ounce; and Pb
      .95 (2011: nil) per pound.
      Cost of Sales
      The cost of sales for the period ended March 31, 2012 was $6.1 million (2011: $5.5 million), which includes depletion, depreciation and amortization in the amount of $1.0 million for the current period (2011:
      .8 million). The cost of production (excluding shipping, freight, depreciation and amortization) for the period ended March 31, 2012 was $4.7 million (2011: $4.4 million) or cost per tonne produced $36.50 based on 130,570 milled tonnes (2011: $34.74 based on 127,231 tonnes). The increase was mainly due to an increase in salaries of 10% starting January1, 2012 for our hourly labour miners plus 20 more miners and 8 more geologists to access the new mineralized zones.>>>

      Costs were up and next quarters numbers will reflect a lower price for silver. Will production increase make that a wash?

      But, costs will be down per Lenic - see next thread.

      • 1 Reply to tranthor2004
      • Per Lenic:

        <<<La Negra
        -they are currently on a 15,000m drilling exploration program
        -a 9% drop in cost per ton last year and they expect to accomplish the same this year
        -currently operating at 2200 tpd, and moving towards 2500 tpd
        -the "Empire State Building" sized deposit is in the Valencia body
        -updated reserve estimates in a couple weeks
        Shafter
        -they are planning on reporting more exploration results next Friday
        -ramp up phase to be completed by late June/early July
        -block 3 is two to three times bigger than the current 43-101 technical report states that it is
        -3.8M oz AU projected production for 2012
        -6.5M oz AU projected production for the next 12 months from July onwards
        -expected revenue of $100M over the next 12 months>>>

        I like the 9% drop in cost per ton at LN and expectation of another 9% this year along with everything else. Squeeze the blood out of the turnip into the beaker and don't let it hit the floor.

        Having trouble with Adobe...any idea what the cost/oz is for their Ag production? Around $9?

 
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