The funding just received puts Aurcana solidly on its path back to successful operation.
Shafter will be slowly expanding the mining and milling performance to the1,500 level till the middle of the first quarter.
You have to realize that they are only recovering about 40% of the silver in the milling process.
The flotation circuit is being designed and will be on line sometime in the second quarter. This should raise the recoveries up to 80% double the current rate of recovery.
After the floatation circuit is in production output doubles as the circuit starts up. In addition people need to realize that the tailings from this years milling process should start to be reprocessed and the other 40% of silver not recovered will be realized. Assuming that the floatation circuit is built at or close to the 2,500 operation level... Aurcana will start to recover silver at a rate approaching the full operating level when the mining and mill capacity is 2,500 tones per day.
Todays near "bankrupt" share pricing will start to recover as funds and investors realize the change in condition and direction.
While I hated to see Sadek leave it is more of a matter of too many chefs in the kitchen than anything else I believe. He came over from Tosca last December when they were running into a road block.
I am sure he will pop up somewhere shortly heading up another venture.
We did have the new COO appointed with a lifetime of experiences which should serve Aurcana just as well.
I would imagine that the time frame for installation of all of the new tanks, filter presses, floatation circuits, etc. will now be moved up from finishing in the second quarter of 2014 to all starting up by the end of the first quarter.
Cash flows explode with the ramp up finished to 1,500 tons.
The share price shouldn't stay at these "bankruptcy" prices much longer.
After the delays in financing caused the share prices to drift down... we should be under accumulation here shortly.
Last year Oct 18th reported production of about 718K equivalent.
Second qrt. silver equivalent was about 818K.
I would like to see 850-875 silver equivalent for this qrt.
Shafter aught to be about 100K silver... reducing cap costs by about 1.8 million.
Will probably also announce accelerated schedule of receipt of equipment to speed up installation and resultant cash flow acceleration.
Of course I do also as I am still holding at 82% underwater. The reverse split seems to be what really killed this thing price-wise. Talk about theft!! I keep trying to have enough faith in this to buy more to "average down" my costs but I just haven't been able to. Maybe you should take that as confirmation it will go up.