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Aurcana Corporation Message Board

  • royamick royamick Nov 26, 2012 9:16 AM Flag

    Aurcana operations

    Some have responded to my previous posts. I live about 70 miles from the Shafter mine and drive by it about once or twice per week on my way to Presidio. What I can see from the road is lots of activity. There are trucks coming and going, a road to the mine has been put in, there are buildings on site that have been erected and other infrastructure in place. So far the company (Rio Grande Mining, a sub of Aurcana) has spent lots of money getting the place ready. This is the Shafter mine, it's been around for centuries, even so far back that the Native Americans who once lived in the area, excavated small holes mining silver in and around the area. The mine itself is pretty old, there was once lots of production sometime back around the turn of the 20th century as I have read. When silver prices bottomed, all activity stopped. Now, with prices up and with company estimates of 4-5 million ounces still to be recovered along with other precious metals, the mine is back in full swing. I decided to buy some stock based on what I saw. Having been the victim of pump and dumps in the past, being able to actually see the company in operation gave me confidence to go ahead and take the risk. Hope this helps. Again, my investment was predicated on company estimates that I heard from an official of the company who was interviewed several months ago on Marfa Public Radio.

    Sentiment: Strong Buy

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    • We should see an announcement next week that the mine has entered commercial production at 600 tons per day mining and milling. (40% of capacity of 1,500 tons per day) { about 380,000ozs/qrt of silver based on 40% of full 3.8 million yearly goal} That should translate into $9-10 million per qrt in sales for shafter for the 1st qrt 2013.

      We will not see increased sales until the first qrt reports of next year because the concentrate has to be refined. That won't be for about a month. (Will show up in inventory in 4th qrt)

 
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