In the previous press release about the NI 43-101 M&I Aurcana only gave the tons of ore for the inferred category. In the Nov. presentation that was identified as to metal content.
In the inferred category at La Negra, Lenic increased the value of metals in the ground at La Negra by close to 50%.
Change that 7.3 to about 10.8.... don't forget to increase the current silver price a few dollars also.
Aurcana is a BIG PIGGY BANK!!!
La Negra –Technical 43-101 Resource Report, Oct. 2012
Resource (mm oz Ag) NI 43-101 Resource (Oct 10, 2012 )
• October 10, 2012 – Aurcana published Technical 43-101 Resource Report at La Negra with
115mm M&I Ag oz
– Includes significant base metal credits (Pb, Zn and Cu)
• Increase in resource base supports extended mine life of operations and identified plans
to increase throughput and Ag production
– Supports extended mine life
• Resource upside remains
– Deposit remain open in multiple directions
– Large system of underground levels and workings provides access to carry out
additional exploration on surface identified targets
Significant resource increase with
Tonnes (kt) 27,021 13,278
Ag (g/t) 131.3 126.1
Pb (%) 0.91% 0.88%
Zn (%) 2.36% 2.14%
Cu (%) 0.49% 0.42%
Pb (mm lbs) 539.5 263.0
Zn (mm lbs) 1,418.7 657.4
Cu (mm lbs) 269.5 132.3
10/10/2012 Ag (mm oz) 115.1 56.5
Aurcanna's resources before this update were under 50 million silver ounces, counting La Negra and Shafter.
The update adding 115 million ounces at La Negra raises that to about 160 million.
160 million oz of silver at todays prices is worth about 4.8 billion.
269 million lbs of copper at 3.33 is about 895 million.
539 million lbs of lead at .88 is about 474 million.
1,418 million lbs of zinc at .84 is about 1.191 billion.
Thats about 7.360 billion dollars of recoverable metal at current prices.
With about a 500 million dollar valuation at these share prices Aurcanna is masssively undervalued. This metal is at a very well run mine...not a greenfield out in the hills. Aurcanna can increase the mill capacity to 10,000 tons and be producing 5+ million ozs of silver and more than 5 million silver equivalent ozs with a mine that has a 20+ year life given current finds.