Aurcana Silver Corp V.AUN.H

RE: SLW stream deal for Shafter - Monty

[zzthnx]

"They have raise about 15M$ to get Shafter into production, i believe. There is an understanding with SLW that another silver stream (terms TBD, maybe 25% of Shafter) will provide that funding"

Hi Monty, no way would this deal be acceptable. I'm hoping the deal is for no more than 10% of Shafter. Figure Shafter is projected to produce approx. 3 million ounces per year. 25% of that over a mine life of 20 years (including an additional 13 million ounces proved up through exploration) would be 15 million ounces of silver to SLW for 15 million dollars.

Also, do you remember where you read that the Shafter start-up costs would be 15 mil? Cheers! zz