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Aurcana Corporation Message Board

  • johnnyola_1 johnnyola_1 Nov 20, 2012 6:53 PM Flag

    and new investors will move into the sector at some point during the back end of the move and...

    they will be drawn primarily by one thing: the obviousness of how much money the miners are making. For instance, Aurcana is a very small company in the stock market, under half a billion market cap, a pittance, and yet, it is going to be making boatloads of fiat in less than a year, and investors will smell this out way ahead of time. If Lenic makes anywhere near what he says he is going to make, this will be the ride of a lifetime over the next year.

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    • Aurcana will... or already has received about $2.5 million from the exercise of the December 7, 2012 warrants. That will cover all of the additional mill equipment currently being installed, and soon to be installed to make the mill at Shafter operate more efficiently at the 1,500 ton per day level.

      As of June 30, 2012 details of outstanding warrants are as follows:
      Number of Exercise Expiry Date
      3,156,000 $ 0.40 June 30, 2013
      24,960 $ 0.35 June 30, 2013
      47,626,926 $ 0.41 December 7, 2013
      6,165,801 $ 0.41 December 7, 2012
      26,426,500 $ 1.00 November 29, 2013
      83,400,187

      The table below is from a June 1st release.
      What investors need to keep in mind is that Shafter is a HIGH GRADE deposit.
      While it is disappointing to be taking a while to get into full production a little perspective would be advised.
      The mill is being tuned for now...and expanded to 2,500 over the next 18 months to 2 years.
      The mine over the next months is going to be developing the rich mantos and spider web of feeder veins to feed the mill with the best grades of ore. Also note that if the ore produced and processed has .01 ozs /ton of gold associated with the silver... that is about $2 million or so of cash flow per quarter (see the core samples below )
      I consider this company a big PIGGY BANK

      Hole S-12-403

      Hole S-12-403 was drilled at an angle of -80 degrees oriented due East and cut 30 feet of mineralization from 382 feet to 412 feet with an average grade of 23.37 ounces of silver per ton. Significant trace amounts of gold are associated with several intervals. Core recovery was very good over the intersection, with the exception of one low grade interval within the zone. The core section of the high grade zone averages 36 ounces/ton over fourteen feet. Figure 2 is a section indicating the location of Hole S-12-403.
      From To Ag oz/ton Au oz/ton

      382 384 30.81 0.03

      384 386 15.54 0.01
      386 388 9.51 0.01
      388 390 2.38 0.01
      390 392 13.53 0.01
      392 394 46.28 0.02
      394 396 16.28 0.01
      396 398 37.44 0.00
      398 400 45.06 0.01
      400 402 46.63 0.01
      402 404 30.96 0.02
      404 406 31.51 0.03
      406 408 8.81 0.01
      408 410 6.27 0.00
      410 412 9.39 0.01

      Lenic Rodriguez, President of Aurcana Corporation states, "this is the highest grade intersection encountered to date at the Shafter Mine and we expect to encounter more of the same as we develop the underground operation"

      Vertical Hole S-12- 402 located approximately 180 feet south of S-12-403 intersected 41 ounces of silver over two feet from 378 -- 380 feet.

      Additional surface and underground drill holes are being processed and results will be released at a later date.

 
AUNFF
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