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.
I want to know why they haven't followed through with promises to publish the upgraded resource information. And it may be a good point that more research may be needed. I couldn't speak to IR because they are in a meeting. He sounded kind of hectic and/or worried. I can think of a couple of scenarios here that might make good movies - one being a way to pick up shares at a tremendously low price before announcing the "not as bad as we thought" news. As far as I know, insiders didn't do any significant selling. Another thing I want to know is why they aren't suing the responsible party for the prior report if there was such a big difference, which we don't know if there was because they haven't released the information? Something smells.
This recent information upgrade includes promises whose deadlines have come and gone. "This likely significant change in the mineral resource estimate has prompted a top-down review of the Shafter Project, which will take into account the new mineral resource estimate and the lower 2013 silver price. The Company expects to complete the review in January 2014 and will provide additional guidance at that time.
Mr. Andrew Kaczmarek, a qualified person (as defined in National Instrument 43-101) and the Company's Chief Operating Officer, has reviewed and approved the scientific and technical information contained in this release.
What is the math method you use to determine that? Maybe I am doing it wrong? I have had my money tied up about 3 years in this.
It needs to go up 275% which would put the price at approx. $4.72. It doesn't seem right, but the total of shares I bought times $4.72 does equal about what I invested. If that's right, its not as bad as I thought. Bad enough though.
Does this mean there are now 7,700,000 more shares than before or are these shares that were already hanging around somewhere? Does this equate to a dilution of our shares?
There are always two sides to a sale - the buyer and the seller. But the activity on this stock has increased five-fold the last few days. I wonder if someone is accumulating (yes, of course) or liquidating (yes, of course). Wonder who the smart money is.
Yeah from here $2 would look good but not to those of us who bought in 2 years ago. Sadly not at all good.
Thanks for your reply and the reminder. I think 6400% would do it. smile. But it would be a lot less on what is bought now, don't you think? Have you wondered at all about government confiscation of phys - the laws are still on the books and if not, could be put there real easily.
true or not true? Could someone share details or where did you find this information?
I'm not sure which I am but did just buy the same number of shares that were decimated before. Hope I'm not just a glutton for punishment, but I just think this has got to be undervalued.
Hay I bought in at $8.00+ BEFORE the split - who do you think is doing better, you or me ha ha But I just bought the same number of shares at the new price to lower my average. You will be doing fine once people remember there is a good mine in Mexico still producing well.
Seems to me it would take big ones to short after a 90 plus percent fall. Good luck, someone should make some money on this. Let us know the details if you do it.