fr. precious metals4 May 2012
Good Morning,
As you know Aurcana (AUN) is one
of my favorite positions.
Buying below C$1.00 is a bargain.
To quote Lenic Rodriguez, President
"Are we going to be rolling in money?
I would say that is the case, said Rodriquez.
We will use that money to expand the company
thru organic growth and acquisitions.
We will be a mid-tier producer this year
and by 2013 Aurcana will be a major
silver producer surpassing all of our peers"
See the attached pdf for the complete article.
This morning be have gold up nicely after bouncing
off of the 65 Week Moving Avg.
Enjoy day,
Dudley Pierce Baker
www.PreciousMetalsWarrants.com
.... an exerpt of the pdf is pasted below...
GLTA
"Investment Considerations"
Over the next year, Aurcana’s Shafter and La Negra mines will have the capability of processing 5,000 tpd of ore, an amount the company says it will process in 2013. This translates to a production level
of 5.2 million ounces of silver in 2012 and the real possibility of approaching the company’s goal of an annual production rate of 10 million ounces of silver equivalent by 2013.
Aurcana Corporation has a lot to offer investors. It is led by a proven and skilled management team, is very well financed with C$35 million in cash on hand and has a production cash flow that is about to more than double once the Shafter Mine is fully operational. At the end of November 2011, the company announced its latest financing, raising C$34.4 million – nearly $10 million more than originally proposed – allowing this totally unhedged company to pay off debts, expand the La Negra Mine and complete construction of its soon-to-be second operating silver mine, the Shafter Mine.
This financing is just the latest, clear market ratification of Aurcana’s performance and business plan in a year where the company raised $100 million largely from institutional investors. The company is now debt free and looking for ways to invest its anticipated growing coffers. One possibility is a “very interesting” Mexican property the company is considering acquiring.
“Are we going to be rolling in money? I would say that is the case,” Rodriguez says. “We will use that money to expand the company through organic growth and acquisitions. We will be a mid-tier producer this year and by 2013 Aurcana will be a major silver producer, surpassing all of our peers.”