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 thesheeton Sep 14, 2014 10:09pm

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Post# 22935422

RE:RE:RE:History of mining - associated costs

I had heard that back in the nineties when gold was reaching the bottom the only profitable gold mine in all of Canada was the Gold Corp mine in Balmertown.

i guess this shows how deep a bear market can crush the miners...

Therefore, only the cheapest survive

So picture the producers with a 300$ cost per ounce coming out of that terrible bear market slowly being replaced with higher cost producers as the price of gold went up....

The corollary to this is that if we go much lower than this in the PM market, there will be further carnage amongst the next rung of marginal producers and even though AUN states a very low cost per ounce, it comes from all the base metal credits and that to me seems like voodoo economics.

thesheet

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