Last Qtr Aurcana sold about 50,000 fewer silver ozs than it produced (376produced...324 sold)
They realized about $26 per equivalent oz for the third qtr. (remember they produced above the rated capacity of the mill for the qtr ... this qtr they ran below)
For the 4th qtr...the realized equivalent ozs sales should be $2-$3 higher than in the third qtr. The total sales for the qtr should be just slightly higher than the third between some of the 50,000 ozs being sold and higher prices.
Remember that Shafter is going to have operating expenses for the 4th qtr(162 workers there starting in December)....but no sales from them. All of their production goes into the first qtr of 2013.
You want to be buying with the ramp up in mind and much higher cash flows that are coming this year (2013) and beyond.
Of more interest to me is who picked up the private placement for Tosca in Dec. (that 350,000 dollars covers the option payment Tosca will shortly pay on there Red Hills land package [Moly/Copper deposit] )
Sedek came over to Aurcana a few weeks before closing of private placement. He is current VP for mining operations. ( He is still a director of Tosca )
The 7 million shares plus options exercisable at 10 cents give the buyer an approximate 25% interest in the Red Hills land package next to Aurcana for ultimate 1 million dollars!
I expect we will hear by the earnings report in March if we picked up the shares.