% | $
Quotes you view appear here for quick access.

Aurcana Corporation Message Board

  • fatfighter59 fatfighter59 Mar 12, 2014 6:23 PM Flag

    IR called me back

    What I found out was that the man who quit was the guy that used to work there before the mine was originally closed and he retired. He came out of retirement to help at Shaftner and wanted to go back to retirement when they put it on care and maintenance. From the best I could tell, the latest 43-101 (the third) is being evaluated along with the others. Seems they drilled 4 holes and had great results but when production started, down at 500 feet, the results were far from what they expected - 2 to 4 per ton. So that's why the re-evaluation. They made the news report to try to keep from being sued. There was not necessarily a difference in 43-101, just mining results. The main issue was the price of silver and when silver returns to the $23-24 range, they will re-open it. I would say based on that information, Aurcana should be valued based on what it is currently mining (and maybe always should have been). Hind sight is 20/20 smile. I still don't think Rodriguez lied or tried to fool us - I just think maybe he was too optimistic. Now all that is based on my understanding (possibly faulty) of what the Investor Relations man told me. So do your own DD.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
0.20-0.01(-6.28%)May 27 2:13 PMEDT