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Aurcana Silver Corp V.AUN.H

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.


TSXV:AUN.H - Post by User

Bullboard Posts
Comment by zzthnxon Oct 18, 2009 11:21am
273 Views
Post# 16397894

RE: No pumping needed

RE: No pumping neededMatt, I guess it all depends on your perspective, but I have seen very little "pumping" on this board. I have seen much of what I would consider to be "bashing", but only from you.

You mentioning the $16 mil. Shafter "purchase tax" that's owed by Aurcana, even though I've pointed out several times that this statement is incorrect. The $16 mil. referenced by AUN is for future income taxes on Shafter, not an amount that AUN owes at the present time.

From last MD&A:

"In addition, the recording of the Shafter propertyacquisition did not reflect the tax implications of the

acquisition, specifically with respect to FutureIncome Taxes. As a result, the Company filed amended and restated quarterly financialstatements for Q2 and Q3 of 2008. The reader should refer to those financialstatements for a detailed discussion of the changes."




Bullboard Posts