RE: RE: RE: RE: something interesting If Yamana wanted to run these mines, they wouldn't have sold them to Aura in the first place. Quite clearly they we're also right to sell, given that problems that all three mines have run into ever since Aura bought them. Yamana's only error was not to insist on getting the entire purchase price upfront in cash (ie. they had to accept shares instead of cash when Aura couldn't come up with the final payment).
The NAV for San Andres is shrinking steadily. The resource base is getting smaller, production is down and costs are climbing dramatically. Having listened to the latest conference call, it sounds like getting the cost per oz below $1000 will be a real struggle (and since Aura usually never delivers on anything, I'm guessing that means $1100 or higher per oz is likely going forward). Aranzazu might become interesting at some point in the future, but right now production is too small and costly for it to be worth getting excited about (plus there's the usual Aura tendency for new "unexpected" problems to pop up every quarter).
That leaves Serrote as the only major reason for optimism, and probably also as the lone asset that might be of interest to potential buyers. Who knows, Aura are strangely silent about it, given how important it is to the company. There's also the issue of whether you can trust Aura to execute on their feasibility study -- look at the projections they made for their other mines and then compare to how things have actually turned out.