Aurcana Silver Corp V.AUN.H

Metals & Mining Silver

Aurcana Silver Corporation is a Canada-based company, which is engaged in the exploration, development, and operation of natural resource properties. The Company’s development properties are the Revenue-Virginius mine (the Revenue-Virginius mine or Ouray), located in Ouray Colorado and held through the Company’s 100% owned United States subsidiary, Ouray Silver Mines, Inc. (OSMI) and the Shafter silver property (the Shafter Silver Project or Shafter), located in Presidio County, Texas and held Aurcana Silver Corporation. The Revenue-Virginius mine is located in southwestern Colorado about 5.5 miles southwest of the town of Ouray. Access to the mine site is via County Road 361. The Shafter Silver Project, which is 375 miles southeast of El Paso, in Presidio County, southwest Texas, within a historic mining district.

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Aurcana Silver Corp

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Comment by JonEcashon Oct 12, 2010 12:18pm

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Post# 17554149

RE: RE: RE: RE: good thread

I agree with lilnev. Sure the La Negra deal with SLW sucks NOW, but at the time it was a stroke of genius in order to obtain a property like Shafter. The problem was that the financial markets dropped, and Shafter was not developed as quickly as planned; since management could not secure the financing. If Shafter was up and running, then it's payback would easily mask the hedged silver at La Negra....

Now Silver Wheaton, Silver Standard, Trafigura, and AUN all know what the issue is at La Negra and how that is affecting Shafter's financing. It is in all of their best interests to fix it and move forward -especially with $23 silver! My opinion is that they are all working to rectify the situation, but it obviously takes time and plenty of negotiation. How long that will take is the question, and is what is holding this back.

J$

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