Aurcana Silver Corp V.AUN.H

RE: I can safely say...SLW based Asset Valuation

[MontyHigh]

If SLW values 50% of La Negra silver at 25 MM$, then the remaining 30% owned by Aurcana is valued at 15MM$.

So we have, on an asset basis Aurcana worth:
43 MM$, Shafter
15 MM$, La Negra Silver
TBD, La Negra Base Metals
31 MM$, Rosario [ How Oz Ag/Yr is this? My notes say 1 MM oz for Rosario vs 800 M oz for La Negra. So, let's a proporational an SLW-La Negra valuation on iRosario's silver stream?]

So that's 89 MM$+ and its market cap is 66 MM$ (my notes say 109 MM shares fully diluted) using a straight asset valuation method (not including the cash flow from La Negra's base metals).

What do you think? In what way have I undervalued Aurcana?

By the way, anyone thinking about applying the Aurcana/SLW valuation model (800k annual oz/year == 25 MM$) to other silver Jrs?

Monty