Aurcana Silver Corp V.AUN.H

RE: RE: RE: RE: What AUN should d

[zzthnx]

I agree Nosleep. There's really no rush for us to sign a deal with SLW at this point, especially with silver prices so low. The main reason that I've hung in with AUN through the long slide down from the $2.00 high is my belief that at some point silver is going to take off big time. Can you imagine our SP with silver at $30 and 3 million ounces of silver production a year at Shafter and La Negra? Let's see, even at production cost per ounce of $10, that would be a cash flow of $60 million a year. So, if you figure 110 million shares fully diluted and a conservative P/E of 20, we're looking at a share price of around $10.90. What if silver spikes to $50-$100 and the silver mining shares do a late '90's dot.com type scenario?

One bright side of this carnage that we've had to endure is that I've been able to vastly increase my AUN holdings. Last year when we were at around the .70-.90 level my goal was to get to 50,000 AUN shares to hold for the long term, thinking that at $10 a share that would be $500,000. But now, after the shellacking that the SP has taken, I'm up to 120,000. I just bought another 8500 the other day at U.S. .1125. I was debating whether I should spend the $1,000 on AUN or USA, but opted for AUN because I think we've got superior management here. I do think USA should do well though, and have accumulated over 100,000 shares for peanuts over the last few months.

Cheers, zz