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Aurcana Corporation Message Board

rholl49oswego 39 posts  |  Last Activity: Jul 26, 2014 6:03 PM Member since: Jun 1, 2012
  • Reply to

    New Resource estimate

    by rholl49oswego Jul 25, 2014 4:27 AM
    rholl49oswego rholl49oswego Jul 26, 2014 6:03 PM Flag

    The fact is there are precious few investors in Wellgreen at this point.

    With over 50 % of the float owned by fewer than 20 individuals and entities... there are only about 45 million shares available to trade !!

    The owners are happy for now to pickup their share of 10 million shares at .65 cents a share with warrants attached. Imagine if they wanted to buy 10million. What would that do to the price. Yes... exactly!!

    At some point in the future this share price will be many times the current level.

    The PV identified in the upcoming PEA will probably spark some wider interest and the share price could move up doubling plus and triggering Warrant conversion later this fall.
    That would provide drilling and engineering work pretty much through the feasibility report in 2016 and get started with EIS and permitting.

    That is when the kind of dollars you are talking about would be realize... and as major firm will pay up for the asset..

    Sentiment: Strong Buy

  • The original 2012 PEA had a pit bottom of 920 meters. It should be noted that the current pit bottom in this model is 600 meters in the Far East.

    Wellgreen needs to drill those priority targets further west... and drill... to the bottom of the mineralized rock.

    If mineralization extends any where near the 600 meter level in any of these areas further to the West... further very large resources will be added.

    If further future meaningful resources are pointed to with this years and next years drilling to depth... then bulk underground mining will probably be abandoned for multiple higher grade starter pits and a larger mill size
    ( say 48,000... built in steps) Remember the original PEA was for 32,000 and had a life of mine of over 35 years.

    By the time you consider the potential for additional mineralization along the trend.... this is a really large open pit reality/potential... with a very long life of mine.

    I believe this management and closely held ownership is patiently working towards that potential.

    Sentiment: Strong Buy

  • rholl49oswego rholl49oswego Jul 25, 2014 12:33 PM Flag

    Looks like the increase was more like 80% this time.

    That will not be the last increase.

    Sentiment: Strong Buy

  • Reply to

    New Resource estimate

    by rholl49oswego Jul 25, 2014 4:27 AM
    rholl49oswego rholl49oswego Jul 25, 2014 9:08 AM Flag

    No notice posted to Kitco....so little public knowledge of the resource increase.

    You can see why the insiders took down over 500,000 shares in the recent offering.
    Note that the 20 or fewer individual owners of shares have 54% of the shares outstanding. These closely held owners are seeking to maximize their value... and will be creating the best long term value for the public shareholders. Don't sell any shares for the next few years... and buy more at these extreme low valuations.

    Sentiment: Strong Buy

  • Reply to

    New Resource estimate

    by rholl49oswego Jul 25, 2014 4:27 AM
    rholl49oswego rholl49oswego Jul 25, 2014 8:45 AM Flag

    Greg Johnson, Wellgreen Platinum President & CEO states, “We are extremely pleased with the results of the new resource estimate as it demonstrates the scale and potential of the Wellgreen deposit which still remains open to further significant expansion down dip and along trend. The results of the drilling programs in 2012 and 2013 have dramatically expanded the previous 2012 Wellgreen project resources with Measured and Indicated resources increasing to more than 330 million tonnes from 14 million tonnes and nearly doubling the Inferred category resources to 846 million tonnes. This makes the Wellgreen project one of the largest known undeveloped PGM resources with over 5.5 million ounces of 3E (platinum+palladium+gold) M&I resource and an additional 13.8 million ounces of 3E resources in the Inferred category. The new modelling has also substantially increased the overall confidence level in the Company’s estimates, with the conversion of a high percentage of the prior Inferred resources into the Measured and Indicated categories, including over 92 million tonnes into the Measured resource level.”

    Sentiment: Strong Buy

  • rholl49oswego by rholl49oswego Jul 25, 2014 4:27 AM Flag

    Game changer !!!

    Read the news release.

    Sentiment: Strong Buy

  • rholl49oswego rholl49oswego Jul 24, 2014 3:16 PM Flag

    Greg Johnson, Wellgreen Platinum President & CEO states, “We are extremely pleased with the results of the new resource estimate as it demonstrates the scale and potential of the Wellgreen deposit which still remains open to further significant expansion down dip and along trend. The results of the drilling programs in 2012 and 2013 have dramatically expanded the previous 2012 Wellgreen project resources with Measured and Indicated resources increasing to more than 330 million tonnes from 14 million tonnes and nearly doubling the Inferred category resources to 846 million tonnes. This makes the Wellgreen project one of the largest known undeveloped PGM resources with over 5.5 million ounces of 3E (platinum+palladium+gold) M&I resource and an additional 13.8 million ounces of 3E resources in the Inferred category. The new modelling has also substantially increased the overall confidence level in the Company’s estimates, with the conversion of a high percentage of the prior Inferred resources into the Measured and Indicated categories, including over 92 million tonnes into the Measured resource level.”

    Sentiment: Strong Buy

  • rholl49oswego rholl49oswego Jul 24, 2014 1:38 PM Flag

    Read the new resource estimate for Welgreen.

    Up to about 19 million from 10 million.

    Sentiment: Strong Buy

  • rholl49oswego rholl49oswego Jul 24, 2014 1:11 PM Flag

    Make sure you check the new resource estimates.

    Total about 19 million up from about 10 million.

    You just hit the lottery folks.

    Looks like the stock is halted.

    Sentiment: Strong Buy

  • rholl49oswego rholl49oswego Jul 21, 2014 10:39 AM Flag

    Polymet mining is another development stage PGM project.

    They have the US EPA problems permitting. Tough to permit a waterlogged and swampy watershed.

    Sentiment: Strong Buy

  • One of the slides in our presentation notes Duluth as a major potential PGMs producer.

    They just had their JV partner decline to go forward.

    Problem with underground mine. They are high cost!!!

    Sentiment: Strong Buy

  • Reply to

    Insiders take 5% of offering

    by rholl49oswego Jun 26, 2014 6:08 AM
    rholl49oswego rholl49oswego Jun 26, 2014 12:21 PM Flag

    Last year Management and Directors increased their holding to 5.4 %

    Current management team has also purchased more than 1.2 million shares of additional Prophecy Platinum stock in November bringing their collective purchases in the Company over the past 12 months to 5.4% total direct ownership.

    Now they have purchased 535,769 ( plus same number of warrants)

    Very bullish for company going forward.

    Sentiment: Strong Buy

  • Reply to

    Updated Corp. Presentation

    by rholl49oswego Jun 25, 2014 10:52 AM
    rholl49oswego rholl49oswego Jun 26, 2014 11:09 AM Flag

    I find the insiders increasing their holdings by 3% as an indication of positive results in the upcoming events. ( 500,000+ shares)

    Sentiment: Strong Buy

  • rholl49oswego rholl49oswego Jun 26, 2014 6:35 AM Flag

    Prophecy Platinum’s current management team has also purchased more than 1.2 million shares of additional Prophecy Platinum stock in November bringing their collective purchases in the Company over the past 12 months to 5.4% total direct ownership. We look forward to working with our new largest shareholders along with our existing institutional shareholders and our overall supportive shareholder base, to maximize the value of the Company’s promising PGM- focused projects over the next couple of years.”

    Sentiment: Strong Buy

  • Prophecy Coal Corp. (“Prophecy Coal”) recently announced that they have sold a 24% equity interest in Prophecy Platinum in a private transaction with the proceeds used to fully pay off their loan due to Waterton Global Value LP. Prior to that transaction, Prophecy Coal was the largest single shareholder of Prophecy Platinum as a result of the 2011 spin out from Prophecy Resource Corp. As a result, Prophecy Coal has reported that it’s ownership has decreased to 4.3% (excluding a lesser number of “held in trust shares” that Prophecy Coal holds in reserve for former option and warrant holders of Prophecy Resource Corp.).

    Prophecy Platinum is pleased to note that this significant block of shares was purchased by three separate and independent, long-term financial investors who have all communicated their support of the Company’s projects and management team, and who have each agreed to standard hold periods on the shares they purchased from Prophecy Coal. In addition, we have been informed that Prophecy Coal and its directors also agreed as part of this transaction to not sell any additional Prophecy Platinum shares in the market before January 2014.

    Two of these investors including Mr. Ernesto Echavarria, who more than doubled his existing position in the Company to 17.6%, have been long term supporters and have participated in previous financings including the June 2013 financing at $0.70 per unit. Mr. Echavarria is a well-known resource investor and holds a number of +10% positions in other public companies. The third investor is a new significant investor in Prophecy Platinum and recognizes the favourable supply/demand fundamentals in the platinum group metals (“PGM”) and the exciting potential of Prophecy Platinum’s projects.

    Greg Johnson, President and CEO of Prophecy Platinum, stated: “We are very pleased to have the support of these three large, long term investors as we continue to advance the Wellgreen and Shakespeare projects through development towards p

    Sentiment: Strong Buy

  • rholl49oswego by rholl49oswego Jun 26, 2014 6:08 AM Flag

    Good sign for the future of WGPLF is that the closely held nature of the company continues to grow.

    All Officers and Directors of the Company participated in the financing, subscribing for an aggregate of 535,769 Units. Pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, the Company notes that it has not filed a material change report 21 days prior to the closing of the Offering, as participation of the insiders had not been established at that time.

    Sentiment: Strong Buy

  • rholl49oswego by rholl49oswego Jun 25, 2014 10:52 AM Flag

    Note slide 4 gives updated info based on latest financing.
    Shows fully diluted market capitalization.

    Also pushes back PEA being done until later this Summer. Last PEA was issued in mid August

    Sentiment: Strong Buy

  • rholl49oswego rholl49oswego Jun 25, 2014 6:06 AM Flag

    Closed financing on company web page.

    Sentiment: Strong Buy

  • rholl49oswego rholl49oswego Jun 19, 2014 5:31 AM Flag

    If you look at the modeling sections used in the Aug 2012 PEA you can see the generally narrow resource adjacent to the sedimentary blocks.
    The drilling during the 2012 and 2013 season has identified and further defined high grade extensions further south away from the contact....in addition to mineralization now below and at depth from the sedimentary block.
    The 2014 & 2015 drill programs should extend further the mineralized zones and the ultimate resource...and mine design possibilities.
    Resources and reserves of course are determined in a combination of price and methodology. As an underground mine... the reserves would not be great. As a large open pit mine or combination the reserves can be vastly greater.
    I happen to see metals prices continuing to rise over time. Remember copper at 80 cents or gold at 300 just a decade or so ago or oil. If those prices were current today.... none of the current production would be produced.
    I believe that resources/ reserves will rise sharply over the next few PEAs.

    Sentiment: Strong Buy

  • Table 16.8 General Pit Statistics Item Size
    Approximate Pit Top Elevation 1,920 m
    Pit Bottom Elevation 920 m
    Approximate Pit Depth 1,000 m
    Volume of Pit 508,000,000 m3
    Area of Pit Limits 2,200,000 m2
    Perimeter of Pit Limits 6,420 m
    Length from East to West 2,500 m
    Length from North to South 1,400 m
    16.6.1 ULTIMATE

    (From the 2012 PEA)

    The new PEA should have pit bottom elevations at about 700 meters as apposed to the pit bottom of 920 in the 2012 PEA. The Far East and East Zones depth and width of resources should also be widened.
    Add in some high grade lateral extensions from the sedimentary interface.

    In total WGPLF should add significant reserves.

    Sentiment: Strong Buy

AUNFF
0.5388-0.0211(-3.77%)Jul 25 3:58 PMEDT

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