Aurcana Silver Corp V.AUN.H

The Importance of Restarting Shafter Without Delay

[horace5]

It is so important for a mining co valued as a producer to have more than a single property in production – in case problems develop with one mine. That is why it is so critical to get the Shafter mine up and running post haste. I have seen the risks of a single producing property play out so many times.
 
Most recently this can be observed with the Pure Gold Mining, of which I am a shareholder. Serious problems with startup have resulted in the price being cut in half, making the co susceptible to being taken out before they can even really exploit their resources. But they have never even bothered to define another large resource on a different part of their 18 sq mi highly prospective land package (in the very heart of the Red Lake District). Instead, they have been obsessed for a number of years with drilling countless holes on their only serious target area.
 
Shafter is ready to go! So no more futzing around with further contemplated studies, busy work and hesitancy to pull the trigger.
 
The two biggest things that worry me about management are 1) their lack of sophistication in financial matters and 2) their general slowness in executing on things. I love the prospects of this company and fully intend to stick with it for the long term. I’m only expressing some concerns here.