The mine plan has been in place for years.
However,the open pit was instituted as an option AUN went with on the advice of the Shafter mine manager. The milling infrastructure could be operated and refined while the mining team worked around the new,Bloc 3 high- grade discovery while safely putting in a new entrance for the ramp.
30% of Shafter's mined ore was from the ramp work and the other 70% was from the open pit.When the ramp is in place and high grade ore is being mined that event should coincide with the full 1,500 tpd ore processing rate from the mill.
On Monday we should get a Shafter update and the big news.
Shorts can eat the high grade ore.
Mining the lower sections with respect to the water table comes some five years into the mining plan.
Mirz,you are an obnoxious twit that know nothing of AUNFF but use the board to promote your nonesense and whatever gifts you believe God gave you to lord over others.
AUNFF is up over 50% from it's bottom this year.
Either start talking about the company you infest your diatribe with or take your act elsewhere .
Your act is useless and tiring for any investor looking for information in this company.
Where is that Mizatovic guy that was calling everybody down on this board while getting his short silver lunch handed to him?
Likely had to go scurrying home as an AG long with his tail between his legs.
Probably telling everybody he is a silver long hero and now loves AUNFF and thinks silver is going to $120.
SILVER ABOUT TO DROP HARD 18-Jul-12 11:12 pm
"I've said it all along, leg # 4 to come in Silver. That last gap down will shake out all the believers out and the smart money buys at $23.50 or slightly lower."
You are a one man Comedy Hour.Keep up the good work.
Silver is down a nickel and the Dow plunges 240 pts..
This is the AUNFF board-UP 50% on the year -might want to take a look:
"With excellent operating performance, the key to price performance during the next 18 months is going to be addition of resources/growth strategy!!" Rholl
I agree that the company will move forward and Lenic has stated that they would look to acquire a " world class" silver / third project.
At the Vancouver Conference this last January 2012 the current VP at that time is quoted as saying AUN would do a slight dilution to acquire a third property.
AUN did that 'slight' dilution and raised 34.4 million dollars Nov 29,2011.AUN still holds some 30 million cash on hand.
With the massive cashflow on the doorstep and with 430M cash and available warrants AUN is in a position to expand ASAP.
Besides the two acquisitions already known (but not totally verified) it will be very interesting to see what project AUN pick up next and then how quickly they are able to get it up and producing,if it is not in some scale of production,already.
AUN have planning set out years in advance.
They have stated a third project comes to light when Shafter is up and running.The 'Commercial Production' announcement is to come within days.
Also posted over at stockhouse by HGW12:
If my previous production estimates hit their marks?
If the price of silver remain at around $27.00/oz?
This is what Aurcana’s up-coming revenues could look like:
You are on it.
With the KE report and specifically Al Korelin having stated he will interview Lenic this week the news is usually surrounding any appearance he makes.
We know that 'commercial production' is to be announced in July-which means that AUN have successfully turned Shafter into a successful money making operation.
I expect the big news any day now as there are only six trading days left in the month.
In a financial world of corruption and deception,AUN forges ahead with record breaking production and revenues.
Here is the AUN revenue chart from HGW 12:
His last great chart was posted yesterday but overcome with the Albanian shorter banter on this site:
I don't drink or smoke,big man.
So much for your great short position in silver,huh?
For ten weeks the bullion price has held the 150 wma ,while bottoming on the three year chart.
PnF says $58 per oz so maybe buy yourself a drink before taking your next sky diving adventure.
Do you actually know anything about this company or do you just navel gaze and troll for a living?
100 years of the Fed draining the US people's wealth.
Really unsure of themselves,right.
They have a carte blanche to do whatever they like.
The perfect storm is to be in gold and silver and out of US anything else except liquor and guns.
You are about to have your lunch handed to you,Mirz.
Instead of pumping your short positions could you actually start discussing the company this thread represents?
Question: Moving forward and growing the company-where is your preference?
"We want to remain within safe jurisdictions so we have already signed two contracts to acquire two projects-which are very high grades.
6-700 grams of silver and one 2.5 grams per gold (he must have meant 2.5 opt gold?).
That will cost us two and a half million dollars so that is pocket change for us nowadays...
We have over thirty million... (dollars in the bank).
One is a strategic acquisition and it is at the bottom of the LN mine so it continues with the same mineralized trend of LN.
One is in the east of Mexico.So,both are very interesting and almost a fixed free proposition for Aurcana and the future growth of the company will be in safe jurisdictions." LR
Tosca has been in contact with Aurcana, who is developing the silver mine in Shafter.
Shenton is still the first and only acting president of Tosca so the validity or relevance of his words still hold some weight,I would think.
Their project lies 11 kms or 7 miles from AUN's Shafter/Presidio site.I said seven kms earlier,so my bad.
They have a 2.8 m market cap,no infrastructure but a core shack and a D8 with $1m for operating capital.
The moly/cu deposit is massive and the associated Red Hills properties access option MAY be worth an infusion of AUN capital,alone.
However,as illustrated on page 9 of the June Presentation,it looks like the mineralization that interests AUN is to the immediate west and up there in them hills.
Shenton believes there may be some cooperation between the two companies.
“We may do work with them, share equipment,” he said. “We’ll see when we get there. It would make sense we’d do something with them.”
Copper mine in development near Shafter
March 9th, 2011
Dr. MeGaw will have sussed out the logical heat source location and already advised AUN to have acquire those lands - if they have not done so, already.
Guess we will see soon enough as MeGaw is with AUN in part to locate 'the source'.As a 'Big Bend' boy born and raised you have to know he is salivating at the chance to locate the motherlode.
The Red Hills porphyry copper deposit and the Sullivan lead-silver occurrence define the west
end of the district. However, recent theories about caldera mineral control indicate that potential
mineralization could exist further to the west. It is believed that possible buried intrusives near
Red Hills and south and east of Red Hills are the heat source for the hydrothermal solutions
whose metals formed the currently identified mineral deposits in the district.
You are definitely on top of it.
Tosca expressed an open interest from the outset to partner up with AUN in some fashion to assist in expediting their project.
Tosca hit seven cents this week-why not just scoop up the property or extend a few million for a percentage?
I know of an industry insider that will interview Lenic this week and I sent him the following as per your suggestions:
Hi again xxxxxxxxxxx,
Could you please ask Lenic Rodriguez if AUN has any interest in picking up the moly/copper project just 7 kms west of Presidio?
The deposit is owned by Tosca Mining but has drifted to a low of 7 cents with just 40 million shares o/s.
Tosco has- from their inception- expressed a positive attitude to and possible synergy combo with Aurcana.
Why not just buy out the majority of shares or make an offer and buy up the deposit and the associated lands that Tosca retain?
It would be an inexpensive,viable acquisition that will also provide what may prove to be valuable exploration land in and around Presidio/Shafter/Red Hills.
From what various warrant holders have stated they are interested in flipping the warrants and not holding them to convert into shares.
The silver market and TSX are plumbing 15 month lows.
The warrants and PPS seem to be two different kettles of fish,especially in these market conditions.
So say you had alot of exsff ,would you take the beatin and sell exsff while underwater big time?
NOPE. Not unless there was a tax loss to take advantage of by selling and you then invest the capital into another beaten up stock like EXSFF with similar geological value/upside.
I believe the PM realted equities do a major rally very soon.
Nymex up $8 on Friday is the harbinger of what is to come.
Not sure the earnings will be released in mid July, mid August is probably closer. Not much production from Shafter in 2Q to affect earnings that much. Now if you were talking 3Q, then I think it will have a bigger impact. I would be happy to reach the $1.20s in the next 2 months. It looks like we have formed a good base in the .90s. Any good news will hopefully jump us up to the $1.20s.
The expansion at LN to 2,200 tpd has been accomplished and record profits from LN are a certainty.The upgrade from 2,000 tpd has been in place over two months or most of Q2.
I agree that the production from Shafter will be less than desired with lower grades at the present time being milled,however,with LN and Shafter both running now and record production being achieved with every week that goes by the Q2 numbers will surprise,IMO.
Lenic is on record(at the AGM) as stating the two plants should be running at 6.5 million oz Ag Eq from July 1st onwards.
There is also the revised 43-101 on LN that was a quadruple over the original resource and that was some weeks ago now with major drilling going on there every day.
EDR is a great company.
$10 per share.88 million shares or 93 total o/s.
5.6 million oz Ag Eq production.
AUN? One buck,five times the shares presently o/s vs. EDR but with a growth profile set to be in the 9.3 MILLION oz Ag Eq range with the present infrastructure in place and paid for.
So,place your bets on whatever silver producer growth story floats your silver boat best.
Hi Tranthor,may have been a 5200 area drill core with some exceptional silver as recent drilling is recording 46 opt with gold credits.Guess we will know in time.
Presidio pulled 15.24 opt ore on average so high grade open pit material is expected.
Golfvek ,you seem pretty tuned in.
I would argue that AUN should be surpassing EDR now or within weeks as EDR 'projected 5.6 million oz Ag Eq in 2012 and AUN with Shafter at 3.8 and LN running now at 2,200 tpd should be producing at 2.7 million oz Ag Eq.
That should be well above what EDR is producing:
Godfrey Walton, President and COO, stated, "Endeavour's two mining operations have enjoyed a good start to 2012 with record silver and gold production in the First Quarter. As a result, the Company is well on the way to achieving its 2012 production guidance of 4.3 million oz silver and 26,000 oz gold.